by Marilou Davido | May 9, 2022 | Resources
What is the First Step in Financial Planning? Understand your current financial situation; particularly cash flow. Cash management is a key part of a financial plan because cash is the primary asset used to pay obligations on a regular basis. In today’s market and...
by Marilou Davido | Mar 23, 2022 | Resources
The video below explains the federal Standard and Itemized Deductions; how they are calculated and how to determine which should be claimed on your federal tax return. Key Takeaways Standard Deduction is the minimum deduction allowed to taxpayers. Taxpayers can claim...
by Marilou Davido | Mar 8, 2022 | Resources
If you’re married, you may keep your income tax situation separate from your spouse by electing the Married Filing Separate tax status. However, when filing tax returns in a community property state, like Wisconsin, the phrase “what’s mine is yours and what’s yours is...
by Marilou Davido | Feb 14, 2022 | Resources
You have until the tax filing deadline to contribute to many tax-deferred accounts for the prior calendar year. Read more about contributions you can make to a SEP-IRA, IRA, ROTH, HSA and Edvest accounts. Traditional IRA In general, receive a tax deduction in the...
by Marilou Davido | Feb 10, 2022 | Resources
With tax season comes an increase in crimes and/or scams relating to income tax refunds and liabilities. Here’s how you can prepare for any possible IRS crimes or IRS scams, including how to protect yourself from tax fraud and tax scams. For more information on...
by Marilou Davido | Jan 29, 2022 | Resources
Mike Smith at CPS Horizon Financial shares some key information on what a 2nd to die life insurance policy is and why you should consider it. If you would like to explore if a 2nd to die life insurance policy should be a consideration, contact the WFA team at...
