Cancellation of Debt May be Taxable Income

Cancellation of Debt May be Taxable Income

I learned a very interesting lesson today that I thought I’d share with everyone.  It is not a new lesson in fact I remember it from Federal Income Tax class but haven’t heard about it in years.  It was years, until my brother grabbed me in between my 8th and 9th beer on the 4th… Continue Reading

Financial Loss Syndrome Doesn’t Just Affect the Wealthy

Financial Loss Syndrome Doesn’t Just Affect the Wealthy

I was reading the June Edition of Trusts and Estates Magazine, my favorite magazine, and found a very interesting article which is aimed at advisors and attorneys for very wealthy individuals; however it applicable to everyone during these turmoil times.  Trusts and Estates Magazine is an industry standard for those in estate planning – each… Continue Reading

Save on Legal Costs – Hints and Tips

Save on Legal Costs – Hints and Tips

Bankrate/CNBC just posted an article titled, “7 Ways to Save on Legal Advice” written by G.M. Filisko. I have previously discussed the need for a professional when it comes to estate planning and advanced personal finance moves.  Well, professionals are usually expensive in terms of out of pocket up front costs (vs. money & time… Continue Reading

You Have to Prepare for Retirement – Do Not Depend on the Government

You Have to Prepare for Retirement – Do Not Depend on the Government

Today I received a very interesting Fidelity Credit Card offer.  This particular rewards card placed my 2% cash back directly into my IRA with Fidelity.  Interesting, right? I thought this was really cool.  Don’t worry I didn’t partake, because, as we discussed, I am in operation eradicate consumer debt.  But it got me thinking: Retirement… Continue Reading