Financial Focus and Taxes - Solidarity Health Network

Do I Really Need Life Insurance? Let’s face it. Most people put off buying life insurance for any number of reasons—if they even understand it. Take a look at this list—do any of them sound like you? 1. It’s too expensive.  In the ever-burgeoning budget of a young family, things like day care and car payments and possibly student loans eat up a good chunk of the money each month, and a lot of people think that life insurance is just outside those “necessities” when money’s tight. But two things: life insurance is often not nearly as expensive as you might think, especially when you can get a good policy for less than the cost of a daily cup of coffee at the local café, and well, if money’s tight now, what if something happens to you? Here’s more information about the  true cost of life insurance . 2. That’s that stuff for babies and old people, right?  People of a certain age remember Ed McMahon telling them their grandparents couldn’t be turned down for any ...

There's a fine line between saving money and triggering an audit. Here's how to take advantage of the trickiest of tax deductions (prepare early for 2018 and take advantage of these recommendations!) Ah, tax time--the one and only time when you absolutely must disentangle your personal life from your business. Botch this, and you'll either pay way more tax than you need to, or end up facing an audit.  Often, getting your personal life out of your business starts with deductions--what you can claim as a business expense, and what you can't. No one sees more questionable deductions than accountants, so Xero, a company that provides cloud-based software to accountants, enlisted Zogby to survey 400 of them about their clients' tax mistakes. Below are the 11 most commonly-abused business tax deductions. We've also included some commentary from Jody Padar, CEO and principal of Arlington Heights, Illinois-based New Visions CPA Group, on the circumstances u...