Financial Focus - The New Citizens Press

Top 10 Tips for Getting Your Taxes Prepared

Rina Risper11 years ago05 mins

By A.J. Gross, C.P.A., E.A.

1) Check the tax accountant’s PTIN. All tax accountants preparing tax returns must have a Preparer Tax Identification Number (PTIN). You do not want your tax return to be prepared by a tax accountant without a PTIN.

Jill on Money: Why MyRA?

Rina Risper11 years ago07 mins

By Jill Schlesinger

Tribune Media Services

Just in case you thought that there were not enough retirement accounts out there, along comes President Obama’s latest entry in the crowded category.

Retire Smart: Mailbag: An uphill battle for Generation X

Rina Risper12 years ago07 mins

By Jill Schlesinger

Tribune Media Services

When the stock market began to crater in 2008, an 85-year-old client said to me, “I’m not worried about me – I don’t have a job to lose, and most of money is in bonds and CDs. But I am very concerned about my kids and my grandkids.” I thought about how prescient that comment was after reading a new report from the Pew Charitable Trust’s economic mobility project, “Retirement Security Across Generations.”

6 Rules for Keeping Track of Charitable Contributions

Rina Risper12 years ago05 mins

By A.J. Gross, C.P.A., E.A.

Donating to charitable causes is a good thing. You are helping others in need. For your generosity, the IRS allows you to claim a tax deduction. If you donate to charities, you should understand the basic record keeping rules for claiming a tax deduction.

Retire Smart: Mailbag: What’s your retirement number?

Rina Risper12 years ago08 mins

By Jill Schlesinger

Tribune Media Services

A former client once argued with me about his “retirement number.” He couldn’t believe that he needed $1 million in savings before he could retire. “That amount just seems like way more money than is necessary!” But after walking through the variables and calculations, he finally said, “Geez, a million bucks. … I guess that’s my number.”

Keeping Track of Business Miles

Rina Risper12 years ago05 mins

By A.J. Gross, C.P.A., E.A.

I run across a lot of clients that do not keep track of their business miles. It can be a pain to record your business miles. However, not having sufficient records for your business miles will cause more headaches down the road if you are audited by the IRS. Use one of the following methods to satisfy the IRS record keeping requirements for business miles.

Your Other 8 Hours: 3 steps to prepare for the next disaster

Rina Risper12 years ago07 mins

By Robert Pagliarini,

Tribune Media Services

As a “sudden wealth” financial planner, I take great pride in helping others determine where they are going and how to get there. I consider myself an eternal optimist. In my mind, the glass is not half empty or half full — it is well on its way to becoming full. People are generally good and do what is right. On the other hand, I’m also a realist, looking not only at the destination but rather at all of the things that can go wrong along the way.

Retire Smart: Mailbag: Inheritance, long-term care and tapping retirement savings

Rina Risper12 years ago07 mins

By Jill Schlesinger

Tribune Media Services

Every few months, I like to use this space to empty out the inbox and answer some reader questions. And just a reminder: If you have a financial question or a comment about a recent column, send it to askjill@jillonmoney.com. And if you would like to be a guest on my syndicated radio show, call 1-855-411-JILL.

Retire Smart: 401(k) Fee-asco

Rina Risper12 years ago07 mins

By Jill Schlesinger

Tribune Media Services

A Yale professor is providing a perfect follow-up to the PBS’ “Frontline” episode “The Retirement Gamble” that aired earlier this year. The program detailed America’s retirement crisis and how the financial services industry feasts on high fees inside of many employer-sponsored plans.

Retire Smart: Lessons from Detroit

Rina Risper12 years ago08 mins

By Jill Schlesinger

Tribune Media Services

On July 18, Detroit filed for Chapter 9 federal bankruptcy protection. At over $18 billion in liabilities, it is the country’s largest-ever municipal bankruptcy case. Although there have been rampant accusations of financial mismanagement and scapegoating, the main culprit for Detroit’s woes was demographic: The city’s population, which peaked at 1.8 million in the 1950s, now stands at 700,000 after many middle-class workers and businesses fled the city, taking their tax dollars with them.