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Organizing a Budget and Sticking To It

Posted on Jul 2, 2013

I heard from many of you, that you would like to know how to create a budget. The first step is to sit down and figure out your total income vs. total expenses. You can click on my Budget Template as a guideline to figure out how much you are over or under budget. Obviously we all want to be under budget. However, if you are over budget, there are additional steps you can take to reduce your...

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Financial Organizing

Posted on Jun 21, 2013

One of the services we offer and are passionate about is financial organizing. Once your finances are organized and you are able to follow a budget, your stress levels decrease and you develop a sense of control. I would like to know what my clients and fans would like to learn more about. Which of these topics interest you? What would you like me to break down further? 1. Restructuring Debt What debts should I pay off first? What debts may be affecting my credit? Can I change my bills’ due dates?   2. Creating a Budget Review income vs. expenses Propose spending limits Open or add to a savings account   3. Retirement Planning It’s NEVER too early to start saving Importance of a work sponsored AND individual plan You can contact me or reach out on my Facebook...

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How Long Should You Keep Tax Records?

Posted on May 24, 2013

I have been asking myself the same thing. This is an important question when trying to maintain a clean and organized filing system. I thought 7 years was the correct answer, but this is what the IRS says: The IRS recommends taxpayers keep their returns and any supporting documentation forthree years after the date of filing; after that, the statute of limitations for an IRS audit expires. If you’ve under-reported income by 25 percent, however, the IRS can go six years back, or seven if you claim a loss for bad debt or worthless securities. If you don’t file, or if you file a fraudulent return, the IRS has no statute of limitations; so it may be best to keep your records indefinitely. In order to comply with the IRS, while maintaining an organized office, I would recommend keeping the past 3 years onsite, and saving soft copies for ALL tax...

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Philly Residents – Reduce Your Property Tax Bill

Posted on Jun 17, 2012

Click on the link below to find out how to reduce your property tax bill – Philadelphia residents only.  The property must be your primary residence, rentals do not qualify.  The article has a link to an application for you to print and mail in before July 31, 2012.  It seems like a very easy process.  We are lucky to have lower taxes than most, but why not save more.  Take a look! Tax Savings are...

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The Student Loan Debacle – Stay on Track!

Posted on Jun 13, 2012

To all the college graduates out there, now is a great time to begin organizing your student loans and other finances.  You have your degree, but unfortunately most of you have to figure out how to pay off your loans.  Establishing a plan and following it will keep you on track. Here are some helpful tips: o    CAUTION: do your homework in choosing a lender to consolidate with and make sure you understand all terms of your loan consolidation. o    Most lenders offer several different repayment plans.  Make sure you understand each of the repayment plans and choose accordingly.  Switching plans during the repayment period can cause you to incur more interest and prolong your pay off date. o    Shop around for the best interest rate.  Don’t go crazy, but realize that interest rates differ among each lender. The following websites are helpful research tools: www.ed.gov...

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New Tax Services Spot in Fishtown

Posted on Feb 11, 2012

My husband and I just got our taxes done at Excellence Tax Services in Fishtown.  They recently moved from the Northeast and have many years of experience.  It’s always nice to find tax professionals that are experienced and local.  Be careful with the big box tax service places, you may not get a CPA/Accountant.  Believe me, you don’t want to mess around when it comes to taxes, do it right the first time. We met with one of the tax professionals and she completed our taxes in under an hour.  She was efficient, but also took the time to get to know us and get us the best return!  Their fees are very reasonable and they are knowledgeable about all types of tax scenarios.  I had many ‘small business’ questions which will help me prepare for this tax year.  They not only offer tax services, but accounting services throughout the year.  Visit their website at www.excellencetaxservices.com to make your appointment. Don’t wait, it’s already mid...

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