December 2013

How can teachers reduce their tax bill in 2013?

Make sure you claim this in 2013 if you qualify. This might not be available in 2014. •The $250 above-the-line deduction for school teachers – no doubt, by now, you’ve already spent more than this for your classroom and students. In fact, you probably have excess costs which you will report as itemized deductions. Anthony…

How can you add $146,000 to your retirement account?

Take advantage of the catch-up $5,500 that is available when you are 50. You can max out at $17500 and then add $5500 to that number. Over a period of 15 years this $5,500 will grow to over $146,000 compounded at 5%. It is not too late to start……. If John continues to make this…