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Found money is really so much more disposable than earned money. It really is easier to spend “found” money on something fun, whereas earned money feels like it must be treated with extreme prudence. A tax refund can really feel like found money and often it gets treated as such. I know many friends, clients, and even myself have spent tax refunds on fun purchases like electronics and vacations. I get it. It's nice to feel like once a year you're getting a little windfall that you can spend on something fun, but I’m here to tell you there are good reasons to not want a refund.

It's that time of year again where most Chrysler employees will be eligible to receive their annual profit-sharing check on March 15th. This year, approximately 43,000 U.S. hourly workers will receive up to $8,010 in profit sharing. This is a major annual event that occurs for most Chrysler employees. If you are looking for ways to maximize this benefit beyond its fullest potential here are a few tips:

It's that time of year again where most Ford Motor Company employees will be eligible to receive their annual profit-sharing check on March 10th. This year, approximately 56,000 U.S. hourly workers will receive up to $7,377 in profit sharing. This is a major annual event that occurs for most Ford Motor Company employees. If you are looking for ways to maximize this benefit beyond its fullest potential here are a few tips:

It's that time of year again where most General Motors employees will be eligible to receive their annual profit-sharing check on February 25th. This year, approximately 42,500 U.S. hourly workers will receive up to $10,250 in profit sharing. This is a major annual event that occurs for most General Motors employees. If you are looking for ways to maximize this benefit beyond its fullest potential here are a few tips:

As a financial and retirement planner, I have learned that people hate paying taxes. The truth is, the history of taxation is a complicated one full of wars, audits, jail time, and factions of society that were created in rebellion to the idea itself. To make things worse, the “rules” laid out by the IRS when it comes to tax are extremely complicated, ever-changing, and leave a ton of room for discretion. So, how might one go about reducing or entirely removing the IRS as a benefactor to their retirement investment they have worked so hard to save?

Each spring, the tax documents emerge from their hibernation as people prepare the information they need to meet their civic duty. Oftentimes, your accountant (CPA) or Financial advisor might take this opportunity to talk to you about deferring some of your income for tax purposes, but what does that mean, and is this right for you?

Two things in life are certain: death and taxes, but have you ever considered the impact your death has on the taxability of your assets? Depending on how you are saving, you could potentially be passing a tax burden onto your heirs.

Before claiming social security there are some things you should know. When do you meet your full retirement age because that impacts how much you collect. Take a look at your longevity, your Cost of Living Adjustments (COLA) and your spousal benefits. Lastly, keep in mind that there may be taxes and penalties that come with claiming too soon. We realize that this is a complex subject and encourage you to work with a financial planner, CFP® or ChFC® who is proficient in retirement planning.