• FB
• TW
• LI
• CL

Do you know about the EFTPS?

The Electronic Federal Tax Payment System (EFTPS), created by the U.S. Treasury, provides an easy way for individuals and businesses to make virtually all federal tax payments.  EFTPS accepts tax payments for any IRS tax form, online or by phone, 24 hours a day and 7 days a week.  Tax payments are debited from your […]

How tax planning can put more $ in your pocket

Judging from some of the tax returns we see, many people seem to be of the opinion that it’s a good idea to give the government an interest-free loan every year. They withhold more from their wages than they need to, then get a big refund in April. No law requires wage-earners to withhold more […]

Tough retirement years ahead for Americans

Many Americans are heading for delayed or difficult retirements, and may not be able to maintain their current standard of living. A new poll conducted by Harris Interactive for the American Institute of CPAs found that there is a significant gap between reality and what the public thinks regarding their chances of a­chieving their retirement […]

Retirement can be golden when proper plans are laid

I say this because people who quit work to enjoy their golden years seldom live the lifestyles they would choose unless they have invested substantial thought and action in planning for financial independence. It’s not through luck that your neighbor was able to quit work at age 60 to travel, golf and learn to juggle. […]

Poor planning for retirement income can be costly

Without proper planning, retirees who are drawing down assets to meet living expenses may end up paying unnecessary taxes, lowering their spendable income and choking their standard of living. They do this when they fail to consider the impact their withdrawals will have on their tax bills.  Due to the nature of the income-tax laws, […]

The pros and cons of rolling your retirement-plan money into an IRA

When you leave a job where you have money invested in a defined contribution plan such as a 401k, or 403b you have the option of rolling that money into a personal IRA ac­count. Should you do so? At Mentor, we frequently address this issue with new clients. Often such investments from old jobs have […]

Let’s pretend: Worst-case scenario for your retirement

OK, so you’ve retired, left the grind behind. You’re looking forward to golf, volunteering, spending time with the grandkids. Oops… You’ve forgotten one thing: What if your money runs out before you do? The question is simple, but arriving at an answer that won’t keep you up at night is not. It involves a thorough […]

Medicare drug benefit revisited

If you enrolled in Medicare Part D, the Drug Benefit plan, for 2006 and thought you were all set, think again. Open enrollment for 2007 runs from Nov. 15 through Dec. 31, 2006. Although you can stay in your current plan without  going  through  the  enrollment  process  again,  you  are strongly advised to review your coverage. Most plans will be changing their costs, coverages, deductibles […]

How managing risk can improve financial health

You may know about the food pyramid. It tells you to eat more healthy foods, fewer “unhealthy” ones. There is another pyramid you should know about: the risk pyramid. Its message is that over time, the higher the risk of an investment, the higher the potential return; the lower the risk, the lower the potential […]

Do you need nursing-home insurance?

The question is being asked more frequently these days as nursing-home insurance is aggressively marketed by agents seeking the high commissions and high rate of retention typical of policyholders. Some agents insist that everyone needs nursing-home (long-term-care) insurance. These are the same agents that sell life insurance to toddlers. Fact is, not everyone needs it. […]