money – Page 3 – Debra Newby Watkins CPA

Savings For All

Millennials are often seen as “financial freewheelers,” Zach Witcher says in the first line of his New York Times article, For Millennials, It’s Never Too Early to Save for Retirement. This label actually doesn’t fit all of the 20-30 year olds currently in the workforce, many of whom are already putting money into savings. One important aspect of beginning to save early in life is the amount of time your investment has to grow. Check out the five examples in this article and see how your savings plan stacks up to these young workers.

Resolution: Budget

Is one of your New Year’s goals to better manage your money? Do you often find yourself stressed about your budget, or lack there of? Want to make a real go of saving, paying-off debt and creating financial solvency? Stephen B. Smith for Young Money offers nine suggestions to better manage your finances and to achieve your goals. 9 Nifty New Year’s Resolutions .

May you have health, wealth and happiness in 2017.

Sharing the Gift of Sharing

Tis the season for giving…

Want to help your teenager or younger child learn more about sharing what they have? Ron Leiber for the New York Times has great recommendations for talking to children about your family’s legacy of both giving and receiving, a history of why you feel it is important to share what you have with others and he offers a simple plan for explaining exactly how you divide the money between various charities.

Six Ways to Give the Gift of Generosity to Children and Teenagers

College Financial Aid Changes

Proposed changes in the timeline for college financial aid offers will give students more time to weigh their options and make an informed choice about which school is the best fit. Starting this year, families can file FASFA (the Free Application for Federal Student Aid) as early as Oct. 1st. This gives students more time to compare the affordability of various schools and to gather information about their educational programs, leading to a more informed choice and a better college experience.

At Last, Your Financial Aid Ordeal Has Gotten Easier

The IRS Always Sends A Bill First

Recently there has been a rash of phone scams concerning taxes. Many people have paid money over the phone, believing that they would be in trouble with the US government if they did not. As a certified public accountant, I wanted to make sure you understand that the IRS will always send you a letter first. They do not make cold calls demanding money. Please read this article to better inform yourself about the scams currently in play, and remember that the IRS will not call you, they will send a bill.

Phone Scams Continue to be a Serious Threat, Remain on IRS “Dirty Dozen” List of Tax Scams for the 2016 Filing Season

Who Has The Higher Unemployment Rate?

This month, many high school graduates walked the stage and are now preparing for the next step in their education. Will the college training they seek really help them get a better job and make more money? According to the current unemployment statistics, the answer to that question is, Yes. Quoctrung Bui for the New York Times highlights this point in the article, The One Question Most Americans Get Wrong About College Graduates. Even when the economy is down and college grads have difficulty finding work, those with degrees have a better chance of acquiring sustainable jobs that ultimately make more money than their non-degreed counterparts.

Grandparents Help With College

As college expenses continue to increase, grandparents are beginning to step-in and offer assistance to their grandchildren. John F. Wasik, for the New York Times offers sound advice for those wishing to help with their grandchildren’s college expenses. The Best Way to Help a Grandchild With College. There are many aspects to be considered in order to maximize your monetary support of a student, such as when the money is applied or whose name appears on the account. Read the full article to learn more about the amazing gift of higher-education that you can share with your grandchildren.

Spend More Now, Save In The Future

Ever stood in the store comparing two items; the one you truly want and the one that is similar but much less money? Ever considered that if you buy the more expensive, higher-quality version you might have it for years to come and not need to invest more at a later date? Carl Richards, in his article, Spend the Money for the Good Boots, and Wear Them Forever for the New York Times, Your Money section gives a very compelling argument for this theory. Definitely worth consideration the next time your gut says, “spend the money.”

Just Who Are You Paying?

How many recurring charges are on your credit card at the moment? You may be surprised. A new service, Trim, will scan your bills, produce a list of these payments and cancel ones you wish to no longer utilize. This is a free service from Trim as they attempt to build a client base for their personal finance assistance business. Even if you choose not to employee Trim, taking a look at their ranked, most common charges list can be helpful and may inspire you to take the initiative to keep more money in your own pocket.

Cutting Off Those Recurring Charges You Forgot About

Do You Need An Accountant For Your Small Business?

Anyone starting their own business knows that keeping costs down is of vital importance. Alyssa Gregory encourages new business owners to consider twenty-one areas where accountants will make their lives easier. In her article, Do I Need An Accountant, she provides a useful checklist and summary of items required for new start-ups, such as opening business bank accounts, governmental forms and classification of contractors vs. employees. In her assessment, knowing when to enlist the help of a professional is key to creating and maintaing fiscal health.