Archives for June 2011

My Sister Just Bought A Newly Built Home: The Good and The Bad

My sister just bought the newly built home three weeks ago. I know that she always wanted to buy a new one so she has flexibility when making customization on the house. So this past weekend, my nieces and nephew stayed in our apartment so that my sister and her husband have some breathing room as […]

Early Withdrawal From IRA (Traditional): 9 Ways To Avoid the 10% Penalty

A distribution is considered an early distribution if it is made before you reach the age of 59 1/2 years. When you make an early withdrawal from IRA (Traditional), the funds will be included in your gross income and you will have to pay taxes on that. Please note that all distributions are subject to […]

9 Quick Facts About The Traditional IRA Contributions

In general, contributions to a traditional IRA can be deducted from your taxable gross income, thus, helping you save money on taxes. However, if you are covered by retirement plan at work, the tax deductions may be reduced or phased out depending on how much your gross income is for the year. While most people […]

3 Big Reasons Why You Should Save For Your Retirement

People have various reasons on why they prolong saving for retirement and majority can be attributed to the 3 poor savings habit. As an example, a lot of young people take retirement for granted easily because it is really hard to think what you’re going to do 20 or 30 years from now. They would […]

Business Plan: Why You Need One For Your Home Based Business

If you are just starting a home-based business, one of the questions that you may be asking yourself is “Do I really need a business plan?”  It’s just a home-based business and not a big conglomerate with huge revenues and a large customer base. Well, the answer is a BIG YES!! A business plan should […]

Home Business Start-up: Tax Payment Issues

As a business owner, you also need to be aware of the types of taxes that you have to pay. You do not have to pay all the taxes discussed in this article because the other taxes varies depending on how you operate your business such as whether you are selling products, hiring employees, or […]