When thinking about financial planning, it’s important to consider the long-term. What plans should be put in place in order to prepare for the future? For financial advisor Larson Gunness a central question is this: are we optimistic or fearful of the future? In typical original fashion, his article looks at the urgent global issues of our
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As advisors to nonprofit organizations ALSD often encourages them to strengthen their boards by adding qualified businesspeople. But for the businesspeople themselves – what to expect? Author Gayle Gifford has been helping our clients for years. For Gayle, “nonprofits are a commitment to our society to create a more just and peaceful world of hope,
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This issue brings together recent developments and strategies about paying for health care and disability. It’s a complicated — but important — subject. I hope there is something useful for everyone. (And if not, there is a little family anecdote.) Q: Is there anything GOOD that came out of the last budget bill? –M. McConnell,
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Click on the shoebox to download a PDF The Basics Prior Year A copy of last year’s federal and state tax returns, if you’re a new client Earnings W-2 statements of employment earnings 1099-MISC statements of freelance earnings Self-employment summary of all your earnings, whether on a 1099 or not Investments Investment statements (1099’s) reporting
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What Can I Do To Minimize Payment Pain? As with anything, that which you avoid persists. Right? Get a handle, get a grip — will you owe for this year? Get help if you need it — your accountant can project your liability if you provide her some basic information. Maybe you need to add
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Q: I’ve never made a dime even though my art hangs in all the major museums. Now I am told the tax people could reclassify my activity as a hobby? –P. Picasso, penniless in Paris A: Well monsieur, I cannot speak for how the socialist French tax their artists. In the United States there is
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The Holidays are coming (Oh No!) so this seemed a good time to discuss the hangover — debt. This guest article is reprinted by permission from Larson Gunness’ groundbreaking book, Peace, Love and Financial Planning; an illustrated guide to money Larson is a local financial advisor and creative entrepreneur — click here to see what
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Call it the miracle of compound interest. Or the government’s interest in collecting taxes. However you cut it, your household or sole proprietor business can easily rack up hundreds or thousands of dollars in late fees even if you are just a few months tardy. Q: “But Rich, I filed an extension.” –Over-extended, Milwaukee
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Divorce can be traumatizing. Not always, but even in the most amicable situations separation is a nuisance. Yes, this is how I spent my summer vacation. Think you’re done once you’ve had her beheaded, Henry (VIII)? Review the beneficiaries on your retirement accounts. Do you still want your ex on them? You might. Be sure to rummage through your
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Q: How can I save for Molly’s college AND my retirement ? –Yale Mary, No Haven, CT A: Most of us cannot. It helps if you marry young, have two stellar jobs with pensions, produce 1.7 genetically modified children with perfect grades, and have an inheritance from Granny. Even then, it’s virtually impossible to guarantee
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