Money Management Articles
Five ways to set yourself up for a secure retirement
Approximately 10,000 baby boomers will turn 65 every day until around
2030. If you're part of that group, or if you're planning ahead for a
comfortable retirement, the Minnesota Society of Certified Public
Accountants (MNCPA) offers this advice for securing your financial
Most common tax mistakes, overlooked tax opportunities
Each year, according to the IRS, millions of taxpayers make mathematical
errors on their individual tax returns and miss opportunities to take
Minnesota's new gift tax sparks questions for taxpayers
As part of a campaign to educate taxpayers on confusing, challenging and
emerging tax issues, the Minnesota Society of Certified Public
Accountants (MNCPA) offers filers important reminders and considerations
related to Minnesota's new state gift tax.
Minnesota's residency laws throw 'snowbirds' for a loop
Determining residency for tax purposes often proves challenging for
Minnesota's population of "snowbirds" (retired individuals who head
south each winter).
Tax impact: First official filing year for married same-sex couples
As same-sex spouses across Minnesota prepare to file taxes jointly for
the first time, many are struggling to understand the benefits recently
awarded to them.
Quirky Minnesota sales tax rules: Differences in application of sales tax can leave taxpayers scratching their heads
The end of Minnesota's 2013 legislative session brought with it some
hotly debated new sales and use tax rules for Minnesota taxpayers and
businesses. Some of those rules are being considered for repeal this
MNCPA issues list of strange and unusual tax deductions
The Minnesota Society of Certified Public Accountants (MNCPA) recently
conducted its annual CPA member survey about the most strange and
unusual tax deductions proposed by clients. Responses included
everything from pets and wedding rings to gifts not given.
What you should know about taxes and Social Security benefits
Will your tax bill this year include taxes on your Social Security
benefits? About 55 million people receive monthly Social Security
payments and some of them pay taxes on up to 85 percent of those
benefits, depending on their financial situation.
Your tax return: What could go wrong?
Every year taxpayers make mistakes on their tax returns that range from
silly to serious. What kinds of errors should you keep in mind as you
get ready to file this year's return? The Minnesota Society of CPAs
highlights three common missteps to avoid.
Five steps to achieving your financial goals
What do you want to do now, or next year, or five or 10 years down the
road? This is the time of year when people step back and consider where
they stand and how close they are to achieving long-held goals. No
matter what your objectives, there's no doubt that a sound financial
plan will put you in a better position to achieve them, according to the
Minnesota Society of CPAs.
2013 tax changes that may surprise taxpayers
With significant changes made to the federal and Minnesota tax rules in
2013, the Minnesota Society of Certified Public Accountants (MNCPA)
would like to remind taxpayers of the importance of tax planning and
understanding how the new rules affect their respective tax situations.
Retirement road blocks for baby boomers
From now until 2030, about 10,000 baby boomers will turn 65 every day,
according to the Pew Research Center. This large generation, born
between 1946 and 1964, has had a huge impact on American culture and
society, and that remains the same as they head into retirement.
How can you cut next year's taxes?
Taxes may be the last thing you want to think about at the holidays, but
the end of the year is a great time to take some smart steps that can
help you minimize your future tax outlays. The Minnesota Society of
Certified Public Accountants (MNCPA) provides these ideas for keeping
more money in your pocket.
Five questions to ask your CPA before the end of the year
Your to-do list is probably pretty full at this time of year. While the
thought of adding one more task may feel overwhelming, it's one that can
help put your mind at ease this New Year's Eve: Talk to your CPA.
Pump up your credit score!
Are you looking for a surefire solution that will lower the interest you
pay on your mortgage, car loans, credit card accounts and other debt?
If so, there's one easy answer: Raise your credit score. The Minnesota
Society of Certified Public Accountants (MNCPA) offers the lowdown on
why your credit score is important and how it can affect your financial
Five smart financial tips for young people
A whopping 70 percent of college students will graduate with student
loan debt, which averages about $25,200, according to a recent Fidelity
Giving the gift of financial planning: A lifetime of financial knowledge wrapped up with a bow
June means longer days, the start of summer and invitations to weddings,
graduation parties and maybe a baby shower or two. Stuck for ideas on
what to give the newlyweds, graduates or new parents? This year,
consider something nontraditional that will last a lifetime and never go
out of style: a visit with a financial planner.
Growing your small business: You don't have to leave big business to the big guys
Small businesses are the backbone of America's economy. According to the
U.S. Small Business Administration, the nation's 23 million small
businesses account for 54 percent of all U.S. sales and 64 percent of
all net new jobs. But many successful small businesses make the leap and
become big businesses.
Retaining personal financial records: What do you need to keep and for how long?
Does looking at overflowing filing cabinets of bank statements and boxes
of old check stubs make you want to start a bonfire in your backyard?
Before you grab the lighter fluid and matches, make sure you know what
you can torch and what you need to keep.
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