A parent of a child in college may be able to claim one of two tax credits—the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit—for higher education expenses paid in 2012, but the tax benefits are phased out for high-income taxpayers. Although a credit saves the same amount of tax dollars in 2012 as in 2013, be aware that the AOTC is more favorable this year under current law.
Condley and Company LLP
Think About the Future
Free money! Contribute enough to your 401(k) to get matching funds, if available
Understand your long-term goals
Draft a will to safeguard your assets
Utilize an interest-bearing savings account
Remember to let the IRS and Social Security know about any family name changes
Explore your retirement options and invest in your future
Kent Wooliscroft – Farmers Insurance
Six simple steps you can use to teach your children good personal finance skills:
- Let children make spending decisions
- Open a savings account
- Discuss the benefits of using credit wisely
- Encourage children to invest in the market
- Teach children to be charitable
- Use resources available in your area or look on wellsfargoadvisors.com for more information
While you’ve undoubtedly thought of other ideas to teach your children about money, these simple steps can help you get them started. The important thing is to teach them early on, so you can help them establish good habits that will stay with them for the long run.
Galbraith Wealth Management Group of Wells Fargo Advisors
As our mothers told us, “breakfast is the most important meal of the day.” They were right again. The lack of protein in the morning causes the brain to produce a chemical that leads to compulsive late day eating. For every calorie omitted in the morning, this chemical causes us to eat up to 5 calories to make up for it. And since this is a compulsion, not hunger, it is not satisfied by eating and persists throughout the evening. So eat (or drink) protein in the morning, even if it is not “breakfast food.” Joe B. Alexander, MD, Alexander Clinic
Start small-decide where you want to begin. Is a tiny bathroom begging for some sort of order or is your closet in dire need of attention? Getting ready will be much easier if you spend a few hours throwing out old tubes of lipstick and grouping similar objects into baskets or boxes. Put the things you use most often near the front so they are easier to get to. Label your boxes, bins or basket with fun labels to ensure that everyone knows where things are located-especially band aids and toilet paper.
Whether you choose to use your phone’s calendar, computer or a paper calendar-use it! Write down appointments, meetings, lists etc. This one little tool can save your life, there are so many options to choose from. It is also a great thing to get your kids started on-make things easier for you by letting them keep up with things and gives them a chance to begin learning time management. Prioritize things, as hard as it may be for some- it is ok to say no to serving on an extra committee.