Bedel Blog

Are your files bulging with important tax documents, monthly statements, and paid bills? Before you become overwhelmed by the urge to pull and dump, review the guidelines regarding how long to maintain your important records.

One of the most notable changes stated that sellers are no longer required to pay the buyer’s agent commission. While this change was meant to benefit sellers and buyers alike by lowering commissions, it doesn’t exactly benefit first-time home buyers.

Setting a goal is the first step in beginning your college funding journey. Figure out how much you want to provide for your child. Some parents aim to provide a set amount for each child, for example, $100,000 in future dollars, while other parents choose to link their goal to an institution, such as four years of in-state tuition at Indiana University-Bloomington.

According to Bloomberg, the average spring break trip now costs more than $8,000. This is about double what you would have paid in 2019. With these increased upfront costs, what if something happens and you can’t go? As you now turn your attention to summer travel plans, it may be worth exploring travel insurance.

Investing in international securities offers an appealing opportunity for investors seeking to diversify their portfolios, reduce risk, and access growth potential that may not be available within the US market.

Unfortunately, when there are modifications to Social Security, the tax code, or Medicare, scammers will find a way to try to take advantage of any confusion surrounding the updates. Be wary of emails with links asking you to click to receive "retirement benefits you are entitled to" or phone calls from people offering, for a fee, to "collect your retroactive payments."

On March 6th, the Trump administration announced the establishment of a cryptocurrency reserve. This reserve is purported to modernize the nation's financial strategy by holding digital assets—such as Bitcoin—as part of its national reserves.

Paying your child 1099 income through your business, having them set up an LLC, and contributing to a Roth IRA is an excellent strategy to teach financial literacy and help your child build long-term wealth. It provides immediate tax benefits for your business while offering your child a head start in saving for retirement.

The main issue lies in the allocation of workers. Not everyone has the skills, knowledge, or experience to do any job. This means that even if there are as many jobs as there are people looking for jobs, workers could still struggle to find a job while employers struggle to find a worker.

Avoiding a scam can be difficult, given the urgency and fear caused by fraudsters. Blocking calls and filtering text messages can help avoid some common scams. Avoid giving personal or financial information and resist the pressure to act immediately.

Beyond providing peace of mind, paying a nanny legally also helps them build credits with Social Security and Medicare that may benefit them down the road. Bottom line, it's worth taking the time to structure household employee arrangements at the beginning of an engagement so everyone involved is protected from day one.

Between now and April 15th, millions of taxpayers can make a 2024 or 2025 IRA contribution. Understanding the nuances of Traditional and Roth IRAs can potentially lead to tax savings.