Be aware, be prepared Inflation is upon us, and a hidden gem used by companies to combat price increases is often hidden from the unaware. It’s called shrinkflation. Here’s what you need to know about this hidden price hike and what you can do to cope with its effects. Defining shrinkflation Shrinkflation is the technique…

Our tax code contains plenty of opportunities to cut your taxes. There are also plenty of places in the tax code that could create a surprising tax bill. Here are some of the more common traps.   Home office tax surprise. If you deduct home office expenses on your tax return, you could end up with…

Time for the classic banking approach to make a comeback? For years, savings and checking accounts provided very little in the way of interest income. In our current inflationary times, however, interest rates are on the rise. What is also on the rise is the comeback of traditional banking products. Here is a review of…

Couples consistently report finances as the leading cause of stress in their relationship. Here are a few tips to avoid conflict with your long-term partner or spouse.   Be transparent. Be honest with each other about your financial status. As you enter a committed relationship, each partner should learn about the status of the other person’s…

Don’t forget the taxman! From supplementing their current income to replacing income that was lost because of layoffs, the pandemic or other reasons, many people have started side hustles over the past 2 years to help make ends meet. If you currently have a side hustle, don’t forget about the tax implications from earning extra…

As a busy working parent, you may be on the lookout for activities that are available for your kids this summer. There may be a solution that’s also a tax break: Summer camp! Using the Child and Dependent Care Credit, you can be reimbursed for part of the cost of enrolling your child in a…

Keeping your taxes as low as possible requires paying attention to your financial situation throughout the year. Now that you’ve filed your 2021 tax return, here are some tips for getting a head start on tax planning for your 2022 return:   Check your paycheck withholdings. Now is a good time to check your tax withholdings…

The tax man wants their share! Now is the time to prepare for the not-so-pleasant part of having a summer job – paying taxes! Here’s what you can expect depending on what type of job you have this summer. The employee. A job at a retail store or restaurant generates earned income that is subject to…

Going on vacation is a time to get away, relax and enjoy new experiences. But if you don’t pay close attention, extra costs can sneak up on you like tiny money-stealing ninjas. Here are eight sneaky vacation costs. Covert airfare increases. Airline pricing algorithms are programmed to store your browsing history to see if you’ve been…

Flexible working arrangements appear to be here to stay. But the benefits of working from home also come with the challenge of maintaining an appropriate work-life balance and a high level of productivity. Here are several ideas to consider if you’ll be continuing to work from home, either full-time or occasionally: Divide your day into…