Budgeting 101

One way to take control of your finances is to prepare a BUDGET.  This will help you figure out where your money is going each month.  A budget is a great tool to help you find a balance between your income and expenses and help you understand how you can save toward your financial goals, whether it be for a long awaited dream vacation or  for your children's college fund.

When using a budget planner, include the most basic expenses required for living day to day.  This includes rent or mortgage payments, utilities, food, car payments, insurance and gasoline expense.  For income, include the basic regular paycheck(s) you receive, not including overtime.  Overtime should be an extra savings for you each month.  You should always include a "Savings" line item in your budget too.

Here are a couple of tools that you can use to plan your budget:

https://www.moneysmart.gov.au/tools-and-resources/calculators-and-tools/budget-planner

http://financialplan.about.com/library/n_budget.htm

I also have an Excel spreadsheet Budget, that is fill-in and can be changed anytime.  The Budget document will even add everything for you, so you can see exactly what your monthly savings would be.  Please e-mail me and I will send you the Budget document to download to your computer.

If you have any questions, please e-mail me or call me at (209) 329-1255.

New Addition to our Home! Sorry - No Tax Deduction!

On a real life note, all taxes aside, today we adopted Jimmy, a 180 lb 6 year old harlequin Great Dane.  He is a moose!  This guy is the mellowest dog I have ever seen and just wants to lay on our laps!  He was rescued by FURescue from a shelter that was ready to euthanize him.  Today, he was up for adoption in front of Tractor Supply, and of course I could not resist looking at all the dogs, but he caught my attention.  Who could resist this face?  Jimmy is as big as James - and he is James' new best friend!  Too bad he can't be a tax write off - I don't think the IRS would approve of that!

For those clients who have not yet filed, call soon for a tax appointment.  Have a great weekend!

Beware: New IRS Scam - Don't be a Victim!

Beware!  Thee is always some new way the identity thieves will try to get your account information by sending phishing emails, or even cold calling you on the phone.

The latest scam involves your email.  If you receive an email with the subject line reading "Income Tax Refund REJECTED", do not open this email.  Simply ignore it, and definitely do not click on any links provided in the email.  If you do happen to open one, closely read the email - it will say the Internal Revemue Service.  Reve-mue?  Wrong spelling.

It is a scam.  The IRS does not send emails about your refunds or personal tax information.  Luis Gacia, and IRS spokesman in Detroit says, "It is a scam."  He also said that the IRS never sends emails to taxpayers regarding their tax accounts or personal information.  He reiterates that you should not open any emails, click on any links o respond to those emails.  You may forward the email to the IRS at:  phishing@irs.gov.

If you have any questions or concerns, please contact me at (209) 329-1255.

Have a great weekend!