Tax Explained to Kids

From: www.linkedin.com (Nicolas Boucher)

Do you know these 10 types of tax?

Here are the most simplified explanations to make you understand them:

1. Income Tax
If you earn $10 from selling lemonade and have to give $2 to your parents because they helped you set up the stand.

➡️ Companies make money, and they have to give a part of it to the government

2. Deferred Tax
You earn money today, but…

By Ted James

Retirement, a phase often associated with leisure, is increasingly becoming a time for educational rejuvenation. More retirees are recognizing the value of returning to academia, not just as a pastime, but as a means to enrich their later years. This article from Retirement & Estate Advisors & Professionals (REAP) sheds light on the multifaceted benefits of embracing education after retirement — from mental rejuvenation to new career paths — to illustrate…

Six Items that Could Trigger an IRS Audit

From: www.wealthmanagement.com

Wealthy individuals with a red flag on their tax returns are more at risk.

The Internal Revenue Service recently announced its plans to significantly increase audits on the wealthiest taxpayers, large corporations and large, complex partnerships for tax year 2026.

Audit rates will rise by more than 50% for those with total positive income over $10 million (up from an…

His Majesty, King Charles III becomes Patron of the University of Westminster

From: www.westminster.ac.uk

The University of Westminster is pleased to announce that following a large review of Royal Patronages, King Charles III will become the University’s Royal Patron continuing a long history of royal connections.

Previously, Queen Elizabeth II was the University’s patron from 1993 until her death in September 2022.

By Ted James

Building personal financial health is crucial for reducing reliance on Social Security and Medicare. Proactive financial planning not only secures long-term stability but also empowers you with the freedom to make choices that align with your life goals. By adopting a strategic approach to managing your finances, you can ensure a more secure and independent future. In this article, we will explore practical tips for enhancing your financial health.

Prioritizing Budgeting

A comprehensive budget…

When Low Risk Means High Risk

From: www.morningstar.com

Investment caution can be dangerous, too.

Treasury Bill Rivals

In total, 169 mutual funds and exchange-traded funds registered in the US officially list a Treasury bill index as their prospectus benchmark. That selection is indefensible. Every investment has a higher expected return than Treasury bills because every investment is riskier. Thus, the test is rigged. (Insert election joke of your choice.)

Those 169 funds are a…

Medicaid and Annuities

From: Jackson

What is an annuity?

Annuities are long-term, tax-deferred vehicles designed for retirement. Variable annuities involve investment risks and may lose value. Earnings are taxable as ordinary income when distributed. Individuals may be subject to a 10% additional tax for withdrawals before age 59½ unless an exception to the tax is met. Optional living and death benefits, if available, involve additional cost and may be subject to limitations…