Investments

The Freelance Economy is Bigger Than You May Think

Self-employed workers face different risks, rewards, and challenges than their full-time counterpart--including freedom to pick and choose projects, as well as the risks of a shifting marketplace. If you’re planning to leap into the freelance economy, here’s a look at what planners and professionals in the field recommend you consider.

By Jane Hodges, ago
Taxes

Down to Business: Choosing Which Corporate Tax Structure Makes Sense

It takes guts to run a business--but it also takes a firm grasp on how different businesses function if you’re going to succeed as an entrepreneur. Depending on your line of work, your income projections and tax bracket, and whether you plan to take on corporate partners or hire staff (full-time or freelance), you face several choices--each with broad implications on your personal financial picture.

By Jane Hodges, ago
Taxes

Year-End Financial Moves for the Self-Employed

While taxes are due in April for calendar 2017, certain gestures must be made before 2017 ends. Freelancers should make sure to open retirement accounts (SEP IRA) by 12/31, even though they have until mid-April to fund them. Freelancers should also review income from 2017 to see if it’s trending higher or lower, and whether that might impact taxes. Mitigation strategies in an up year might include adding funds to a retirement account or HSA, which can help lower adjusted income.

By Jane Hodges, ago
Family Finances

Health Insurance Decision Time Forces Big Questions

With few exceptions, insurance is mandatory for Americans. Those who don't have a policy through work or, if self-employed, don't purchase their own policy, face tax penalties. You can open and invest in a Healthcare Savings Account (HSA) to take advantage of healthcare cost tax deductions--but doing so may require that you buy one of the more "deluxe" HSA-approved plans on the marketplace.

By Jane Hodges, ago
Estate Planning

4 Insights into Understanding Sudden Wealth

A death in the family, the sale of a start-up company in which you have stock, or an outsized profit on a home sale can put sudden and significant wealth into your hands. When this happens, it’s important to know what to do first. Since sudden wealth is financially complex, finding an advisor who can help navigate this is an important starting point.

By Jane Hodges, ago
Family Finances

Banking On Mom and Dad

If you’ve got adult children, should you help them financially? If you’re an adult with well-heeled parents, should you accept or resist their financial involvement? Advisors acknowledge most adults financially help their kids even after they’ve left the nest, but urge caution.

By Jane Hodges, ago
Family Finances

Five Signs It’s Time to Hire an Accountant

Many Americans consider tax season to be one of the most worrisome times of year--in large part because they don't know how the math will work out when they crunch the numbers on their annual return. Working with a CPA or accountant can help ease the pain--and these professionals can also provide valuable financial planning advice and business strategy so you minimize taxes owed and maximize resources.

By Jane Hodges, ago
Family Finances

Managing Money During a Layoff

Managing your money during a job transition due to a layoff, downsize or merger takes discipline. Be prepared to manage your expenses more closely, check with your advisor before tapping any retirement funds and network with peers to find temporary work while finding your next long term job. These tips tell you how.

By Jane Hodges, ago
Education

Finances and Females

Women in today's workforce have steadily grown to be the breadwinners in their household which creates unique financial planning challenges. Looking for a female perspective on the matter, we asked a couple of female financial planners who use GuideVine to provide their insights and experience on how women can approach their financial planning.

By Jane Hodges, ago