Financial Planning

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IRS Scammers

IRS SCAMMERS By Nirali Chokshi, CPA *Ring Ring* You: Hello? Pretend IRS: Yes, this is the IRS. You have $5,000 due for your 2014 taxes. Either pay by end of business day or I’ll have the cops arrest you. You: Get lost. That is what I hope your response would be if you ever get one of these calls. Internal …

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Numbers for Financial Success

Numbers for Financial Success To achieve success in life, you must set your goal. This is also true for financial success. Here, we are presenting expert-recommended financial targets that will help you to achieve financial success what you are looking for. The Share of Your Pretax Monthly Income that Should Go Toward Housing Costs 28% to 38% Source: Carolyn Warren, …

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How to Prepare Financially for a Longer Life

How to Prepare Financially for a Longer Life Provided By: Anjanee Mahabir, Northwestern Mutual If you ask people, many of them will tell you that they are not afraid of dying so much as they may be afraid of outliving your resources. No one looks forward to the time when you can no longer care for yourself. When that time …

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Misconception about Itemized Deductions/Schedule

Misconception about Itemized Deductions/Schedule A on your Tax Return “Sure, you can deduct that on your tax return.” How many times have you heard that statement before? But can you really? As taxes are a hot topic in the news and your social gatherings, I hear numerous questions on deductions. What’s allowed? How much can I deduct? To what extent …

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The Seven Enemies of Wealth

The Seven Enemies of Wealth By Bimal Shah, CLU, CHFC, CASL The Seven Enemies of Wealth are Enemies that can take any, all, or some of your wealth much faster than you can imagine. Enemy 1: Lack of Planning & Discipline Lack of a Systematic Financial Decision-Making Process: Without proper planning & discipline, it is impossible to build wealth. 94% …

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Talking About Money Before & After You Marry

Talking About Money Before & After You Marry

Talking About Money Before & After You Marry No money secrets should stand between the two of you as you wed. Provided by Rajesh Jyotishi No married couple should suffer from financial infidelity. If you hide debt, income or assets from your spouse, it can lead to a fight and possibly even an impasse in your relationship. Communication & transparency …

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Prominent Indians and Indian Americans

Prominent Indians and Indian Americans Forbes 400 Richest People In the World 2016 Forbes magazine 2016 list of 400 Richest People in the World features several   successful Indians and Indian Americans across industries. In this issue, we provide a glimpse into these entrepreneurial and inspiring individuals. * Information compiled from and Forbes Rankings. 36. Mukesh Ambani, 59 Chairman, Reliance …

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2016 Financial Year in Review

2017 is here, and many of us are in the midst of tax prep. Tax returns for 2016 are due on or before April 15, 2017 or October 15, 2017 (if timely extended). Here is your quick reference guide for the preparation of 2016 tax returns.  General Tax Updates   Tax Bracket Adjustment Adjusted for inflation, income tax bracket rose …

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Getting back to basics: Why a financial game plan is so important.

Getting back to basics: Why a financial game plan is so important. Many of us are familiar with the expression, “failing to plan is planning to fail.” As an Agent with New York Life, I can assure you that—when it comes to financial goals and objectives—this old adage still rings true. In fact, it may be more relevant than ever. …

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The news is filled with stories about a credit crunch and slowing economy. Some banks have put business lending on hold, and some businesses are having trouble getting the funds they need either to operate or to expand. “Not us,” explains Mukesh Mike” Patel, chairman of Haven Trust Bank Florida. “We realize that entrepreneurs need a steady flow of cash …

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