September 2013

13 Sep

Two Tips About Disability Benefits and Taxes

Today, we want to share two tips related to taxes and disability benefits.

1) Our first tip is for folks who retire from the police force or fire department due to disability. If you're a retired police officer or fire fighter, a portion of your duty disability benefits may be tax-free. The level of tax savings depends on your level of disability. Potentially, up to 100% of your benefits may be tax-free. After you pass away, the same percentage is tax-free for your surviving spouse.

03 Sep

Using Debit vs. Using Credit

How preferable is one type of plastic to another?

You're about to purchase a pricy good or service and you don't have your checkbook or enough cash on hand to do it. Should you pull out a debit card, or a credit card?

Given the choice, you'd probably pick a debit card – right? After all, aren't they preferable to credit cards? Usually, yes – but not always.

03 Sep

Creating a Charitable Giving Strategy

You have a financial plan, a retirement plan and an estate plan. But do you have a charitable giving plan? Once your immediate financial needs are met, you may be interested in sharing some of your wealth with others. But given the wide variety of options you have when it comes to charitable giving, it can be difficult to know what causes are most deserving of your money and your time. That's where a charitable giving strategy comes in.

Who Needs a Charitable Giving Strategy?

If you have significant wealth and plan to give some of it away, a charitable giving plan is a must. A plan will give you more control over how your dollars are used and can also help you manage potentially complicated tax issues. But even the less wealthy can benefit from having a strategic approach to charitable giving. Whether you give $500 a year or $500,000, you want to know that the money you share is having a positive impact.