Your Taxpayer’s Bill of Rights

Archive for September 2014

Your Taxpayer’s Bill of Rights

The Bill of Rights assures and protects therights of every American citizen. But did you know that you have a second Bill of Rights, one that protects you as a taxpayer? What’s more, the Taxpayer’s Bill of Rights contains ten crucial items, just like the original it was modeled on. Larry Gibbs, first documented these…

Read More

Using Debt Properly

One of the most common financial questions we receive at The Financial Consulate is, “When is it best to borrow money versus using existing savings?” Oftentimes those in the business of providing financial advice will recommend borrowing money whenever you can get a relatively low interest rate. Unfortunately, people may not be aware that this…

Read More

The Elements of Estate Planning Most Missed

Many equate estate planning with creating a will. So, when you finally get around to writing your will– a task most of us prefer avoiding rather than addressing, you feel satisfied that you took care of everything. Unfortunately, though, you are far from finished with estate planning when you complete your will. Two essential elements…

Read More

A Crash Course in Tax Carry Overs

Filing a tax return is like skydiving for the first time; it’s nerve-wracking, exhilarating and dangerous. After the parachute deploys—Whew, the ripcord worked— you’re free to enjoy the view. Similarly, after filing taxes some may lose sight of what’s to come—Hello, landing! They don’t think about the contributions they’re making throughout the year or how…

Read More

The Cost of Estate Planning Procrastination

As a comprehensive financial advisor, I have reviewed over 70 wills written by some of the best attorneys around the country. Yet, inevitably, there are mistakes in the overall estate plan. In no way are the attorneys at fault; rather, the culprits are typically time and money. For example, family estate documents prepared by an…

Read More

Enjoying Your Work

Given that the average human being spends more time working than in almost any other activity, it is critical that we enjoy our work. Joy is the foundation of a healthy, prosperous and fulfilling life. Unfortunately, most surveys say that 60-70% of workers dislike their jobs and are looking to get out of Dodge. I…

Read More

Beat the Odds: How to Maximize Your Social Security

The ebbs and flows of the U.S. market are worrisome particularly to those approaching full retirement age (FRA). Today, most retirees must rely solely on meager savings and Social Security benefits to keep them upright through retirement. Securing one’s financial footing may seem like a game of chance these days, but knowing how to roll…

Read More

The crucial importance of creating a Digital Estate Plan

In late 2004, a roadside bomb in Fallujah tragically took the life of twenty year old Marine Lance Corporal Justin Ellsworth. And it fell to his family to conduct the painful process of wrapping up his estate. But his father, a police sergeant named John, ran into an unfortunate problem…because Justin’s e-mail provider, Yahoo, wouldn’t…

Read More