Personal Finance Tips
3 Tax Benefits for New York Veterans
Current and former members of the military are eligible for certain tax exemptions. In today’s post, we’ll examine a handful of the exemptions available for New York veterans. As many as half a million New York veterans benefit from property tax exemptions, many of which are offered by local governments.
Read More6 FAQs About 529 College Savings Plans
College is a large expense and one worth planning for, especially if you want your future college graduate to start their lives with minimal debt. One common way to prepare for such an expense is to open a 529 college savings plan. What is a 529 plan? College savings 529 plans are state-sponsored savings accounts…
Read More3 Essential Tips for Financial Planning When You Have a Disability
Having a disability is not quite as rare as many people think. In fact, about 14 percent of adults around the world have a disability of some kind. This includes people who have a physical, mental, intellectual, or sensory limitation at a mild, severe, or moderate level. Also, these disabilities could have happened at birth,…
Read More5 Common Mistakes When Applying For Financial Aid
Westchester NY accountant Paul Herman of Herman & Company CPA’s is here for all your financial needs. Please contact us if you have questions, and to receive your free personal finance consultation! Given the astronomical cost of college, even well-off parents should consider applying for financial aid. A single misstep, however, can harm your child’s eligibility. Here are five common mistakes to avoid:…
Read MoreEnsuring Your Year-End Donations Are Tax-Deductible
Many people make donations at the end of the year. To be deductible on your 2017 return, a charitable donation must be made by December 31, 2017. According to the IRS, a donation generally is “made” at the time of its “unconditional delivery.” But what does this mean?
Read MoreBeat These 5 Financial Challenges
Westchester NY accountant Paul Herman of Herman & Company CPA’s is here for all your financial needs. Please contact us if you have questions, and to receive your free personal finance consultation! By Bankrate A number of signs indicate the U.S. economy is improving. They include soaring consumer confidence, highs for the stock market, and the low unemployment rate (most recently 4.5 percent). At the same…
Read MoreRetirement investing through the decades
Westchester NY accountant Paul Herman of Herman & Company CPA’s is here for all your financial needs. Please contact us if you have questions, and to receive your free personal finance consultation! By Bankrate Investing to grow your retirement savings is a long-term project. The earlier you begin, the better, thanks to compounding interest. You don’t have to worry about saving a lot…
Read MoreTax bill too big to pay all at once? Sign up for an IRS payment plan
Westchester NY accountant Paul Herman of Herman & Company CPA’s is here for all your financial needs. Please contact us if you have questions, and to receive your free personal finance consultation! By Bankrate Do you owe the IRS money this year? You have several options for paying your tax online. But if you can’t pay it all at once, the IRS gives you…
Read MoreBeware the costly, complicated AMT, or alternative minimum tax
Westchester NY accountant Paul Herman of Herman & Company CPA’s is here for all your financial needs. Please contact us if you have questions, and to receive your free personal finance consultation! By Bankrate The alternative minimum tax, or AMT, is widely unpopular and has been a perennial punching bag whenever tax reform is discussed. President Donald Trump has vowed to kill the…
Read More7 Milestones In Life That Trigger Taxes: Birth, Marriage, Work, Homeownership and More
Westchester NY accountant Paul Herman of Herman & Company CPA’s is here for all your financial needs. Please contact us if you have questions, and to receive your free personal finance consultation! By Bankrate You were blissfully unaware of it, but taxes became a part of your life on the day you were born. From that beginning as a spanking-new…
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