Blog

5 Investment Considerations for Small Business Owners

If you're a small business owner, many of the best practices employed by individual investors are also available to you (of course!), but you also have some additional options and factors to weigh while creating your investment plans....

Tax Planning for Foster Care Parents

As the year-end tax deadline approaches each year, Individuals and couples who provide foster care to children often face questions about whether and to what extent their foster care work impacts their tax obligations. The payments...

4 Reasons to Consider a Life Insurance Policy

Buying a life insurance policy is something that many people push off, sometimes until it is too late. For many people, the thought of buying life insurance means thinking about their death, which is something that most people wish to...

Buying Locally and Giving Locally

For many of us, buying locally matters. We’ve all heard the term and seen the signs: Shop Locally. Eat Locally. But let’s extend that thought for a minute: do you consider giving to your local charities? The fact is we are...

Plan Your Finances as You Would Your Exercise

You exercise to benefit from your sweat equity in the future, right? Waking up early in the dark mornings of winter to exercise comes hard. Once your workout ends, though, you often begin the day with the payoff of a tremendous energy...

Retirement Planning: To Roth or Not to Roth?

When saving for retirement, it often makes sense to contribute to employer-sponsored retirement plans to take advantage of any available employer match opportunities. However, not everyone has access to an employer-sponsored plan. Even...

Three Key Components of Financial Literacy

Financial feats that were once unheard of—from investing in cryptocurrency to instantly paying someone through an online payment system—have now become commonplace in many parts of the country. But these sophisticated tasks...

Common Mistakes That Can Hurt Your Credit

Having a good credit score doesn't just get you the best interest rates. It can also reduce your auto insurance premiums, allow you to avoid security deposits, and in some cases, even help you get hired.1 But what goes into your credit...

Adding Value to Your Benefit Package with Long Term Care Insurance

Professionals who have worked hard and built up assets over the course of their careers may be particularly concerned that their savings could be affected by a long term care event. As the costs associated with long term care continue...

How Financial Asset Management May Help Investors Stay the Course

Most people who decide to purchase stocks, bonds, mutual funds, or other investment vehicles do so understanding that there are risks associated with investing, but believing that the potential growth they may realize over time...

Women, Wealth, and Legacy Planning

Women play a central role in establishing and preserving family wealth -- whether nurturing the values of children, fulfilling charitable goals, or making investment decisions that affect the financial security of themselves or their...

Key Tax Deadlines for 2021

While the 2020 tax year saw some significant changes to filing deadlines due to the effects of the global pandemic, the 2021 tax season seems to be set to be on track with normal filing deadlines. With the pandemic still in sight, it...

4 Types of Entrepreneurship

Being an entrepreneur is a dream for many. The idea of being the boss and watching your ideas take shape into a company or endeavor can be appealing. While there are many steps on the road to becoming an entrepreneur, one of the most...

National Senior Independence Month

Celebrate National Senior Independence Month by Practicing These 3 Tips for Senior Financial Independence Financial independence is desirable at any age and stage in your life. But when you are a senior, it might be the difference...

How Financial Planning Helps You Work Towards Your Self-Improvement Goals

Many self-improvement goals focus on stability and personal growth — and financial goals are often no different. From buying your first home to saving for retirement, planning your finances can also help you work toward your...

A Checklist For Your Retirement Planning

The time to begin planning for your financial future is now. So, when it comes to preparing for retirement, the earlier you start, the better. Here are some steps to help you achieve your overall objectives: Review your current...

New Year's Resolutions to Get Your Finances in Order

New Year's is traditionally the time to review your life and make resolutions for change. In addition to thinking about working out, eating healthy, and meeting personal and professional goals, you should also think about your finances...

Tips for Organizing Your Financial Documents

In an increasingly paper-free society, organizing your financial documents can still be a challenge. No matter how simple or complex your financial picture might be, it takes some thought-out organization to keep your tax documents,...

The Importance of Financial Wellness

Financial wellness, like physical wellness, isn’t something you should ignore. Instead, it's a critical concept for anyone who wants to be knowledgeable and confident about their finances, and in fact, financial wellness is so...

End of Year (EOY) Deadlines Checklist

2020 has been one of the most unprecedented years in recent history, but some things—like tax contributions and retirement deadlines—don't change much, if at all. And with the uncertainty surrounding just about everything,...

Laura’s Tax Tips: Must Know Strategies for End-of-Year Tax Planning (Part 2)

Laura’s Tax Tips: Must Know Strategies for End-of-Year Tax Planning (Part 1)

5 Tax Tips to Help you Get Started on your End-of-Year Planning

6 tips on how HSAs can be a valuable asset for executives

Calling all female executives! In today's video, Laura is sharing 6 tips on how HSAs can be a valuable asset for executives. Thank you so much for following along with our video series! Make sure you don't miss the next series by...

4 ways to help your favorite charities

Want to give back this holiday season? Learn 4 ways to help your favorite charities - and your taxes too! Don't miss next week's final video of the series! Be sure to follow us on social media and share our page with a friend who can...

How Should High Net-Worth Women Use Their 401(k)?

The 401(k) allows (most) account owners to stash away nearly $20,000 per year (or more than $25,000 for those age 50 and over), without paying any federal income tax on contributions. And with the Tax Cuts and Jobs Act reducing the top...

6 tips on getting the most out of your 401k if you are an executive

Over the next couple of weeks, Laura will be providing helpful financial tips for women in business - and particularly those in executive positions - so make sure to follow us on social media and share our page with friends who might...

What Should Women Entrepreneurs Know About Small Business Grants?

One of the biggest challenges for any new business involves maintaining liquidity and consistent cash flow. Many entrepreneurs take only a minimal salary—if any at all—during the first few years their business operates,...

What do I do now?

"What do I do now?" Changes can be difficult and often unexpected. Some changes can even be disastrous, if you don’t get the support you need. Thank you so much for watching our series! Make sure you don't miss the next video...

Prepare for Long-Term Care Before the Need

Long-term care (LTC) keeps you functioning in the face of devastating illnesses, disabilities and prolonged disorders such as Alzheimer’s disease. LTC kicks in when you lose the ability to care for yourself and can no longer do...

What is going to happen to me and my family?

"What is going to happen to me and my family?" We can help you find the answer, and prepare for the "what ifs" that may come along in your life. Over the next couple of weeks we will be answering your questions so make sure you are...

How to Protect Your Wealth as You Get Older

As you get older and closer to retirement, your financial practices need to shift slightly as you transition from working and saving to relying on your nest egg. As you approach this stage of your life, you need to take steps to...

401(k) Decisions -- You Can Take It With You

If you are preparing to change jobs, do you know what your choices are for managing the money in your current employer's retirement plan? Although many people choose to take a cash distribution, there are other options that may...

What would happen to me if I lost my job, my home, or my spouse?

"What would happen to me if i lost my job, my home, or my spouse?" You are not alone. We have helped many people just like you prepare for the unexpected. Over the next couple of weeks we will be answering your questions so make sure...

Why don't we have a financial plan?

"Why don't we have a financial plan?" You are not alone. This important question comes up in almost every household and if it goes unanswered, you are left wondering and worrying about your financial future. Over the next couple of...

Divorce and Your Finances

Divorce can be a complicated and challenging process in which details are easily overlooked. Protecting your financial health during this time is crucial, and no one should enter this process without a trusted attorney (specializing...

Laura's New Video Series

We are so excited to announce a video series we have been working on here at Laura Mossakwoski LLC! Laura is here to answer the frequently asked questions she gets from her clients and prospective clients! Over the next couple of weeks...

When Marriage Ends in Divorce or Separation

The end of a marriage is also the beginning of a new financial life. Reconsidering your financial arrangements -- whether or not your income will be reduced -- should be a priority as you adjust to your new circumstances. Some of the...

Women, Money, and Today's Retirement

Despite all of the other advances made in our society in recent generations, women continue to face unique challenges when it comes to preparing for their financial futures. Recognizing the Shortfalls For starters, women on average...

5 Critical Financial Planning Essentials for Parents of Special Needs Children

The cost of raising a child with special needs can quickly dwarf the average cost of raising a child. While analysts believe middle-income families spend about a quarter of a million per child, they quote the cost of raising a special...

Maximize Your Summer Fun With These Ideas

As temperatures start to heat up and the days get longer, summer fun can kick into gear. Looking for things to do this summer? Then, check out this list of fun and relaxing summertime ideas. Be a tourist in your own area You don't have...

ABCs of Investing for College

Invest early. Invest often. Invest for growth. These are the basic principles of saving for your child’s college education. The earlier you begin a savings program, the more time you have to benefit from the power of compound...

Ten Things You Must Know About Medicare

Heading into your retirement years brings a slew of new topics to grapple with, and one of the most maddening may be Medicare. Figuring out when to enroll, what to enroll in and what coverage will be best for you can be daunting. To...

How to Make Savings Last Longer in Retirement

Whether you dream of a travel-filled retirement or would prefer to relax and enjoy spending more time at home, you're probably wondering what you can do to make your golden years as stress-free as possible. For many who have spent the...

Financial Planning During and After Divorce

Beyond the impact to your personal and emotional life, divorce also has a huge effect on your financial life. As you forge ahead with turning one household into two, you must split up assets with your spouse, decide on support payments...

Planning for the 2020 Tax Season

What steps can you take now to help the 2020 tax season go as smoothly as possible? Review 2019 Tax Changes The 2019 tax season was the first time that most taxpayers saw the impact of the Tax Cuts and Jobs Act. But with even more tax...

Income Tax Planning and 529 Plans

The income tax benefits offered by 529 plans make these plans attractive to parents (and others) who are saving for college or K-12 tuition. Qualified withdrawals from a 529 plan are tax free at the federal level, and some states also...

Why more companies are going dog friendly

Bringing pet dogs into the workplace is becoming increasingly common. Large companies like Google, Ticketmaster and challenger bank Monzo are just a few that have joined companies in the pet sector (like Pets at Home) that allow...

Tips for Women Who Are Living in the Sandwich Generation

At a time when your career is reaching a peak and you are looking ahead to your own retirement, you may find yourself in the position of having to help your children with college expenses or the financial challenges of young adulthood...

All You Need To Know About Eldercare Arrangements

How far in advance do you plan vacations? A month at the very least, right? You’ve booked the flights and hotels, taken time off of work, gotten the kids out of school and looked forward to it from the moment you made the final...

Healthy Recipes to Cook At Home

We are currently living in a confusing time where most of us cannot leave our homes. At first, this sounds great, but then you are hit with reality. You, and probably your spouse are working from home, and your kids’ school has...

Record COVID-19 Testing

The number of COVID-19 tests in the US has ramped up significantly, which is a major step to defeating this terrible pandemic. “We know we need more testing to help quickly isolate those infected, and last week we had more than...

Life Insurance at Various Life Stages

Your need for life insurance changes as your life changes. When you're young, you typically have less need for life insurance, but that changes as you take on more responsibility and your family grows. Then, as your responsibilities...

How Women Are Different from Men, Financially Speaking

We all know men and women are different in some fundamental ways. But is this true when it comes to financial planning? In a word, yes. Everyone wants financial security. But women often face unique obstacles that can affect their...

Financial Planning: Helping You See the Big Picture

Do you picture yourself owning a new home, starting a business, or retiring comfortably? These are a few of the financial goals that may be important to you, and each comes with a price tag attached. That's where financial planning...

The New Estate Tax Rules and Your Estate Plan

The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the 2010 Tax Act) included new gift, estate, and generation-skipping transfer (GST) tax provisions. The 2010 Tax Act provided that in 2011 and 2012,...

Six Steps to Consider Before Tapping Your Retirement Savings Plan

You've worked long and hard for years, saving diligently through your employer-sponsored retirement savings plan. Now, with retirement on the horizon, it's time to begin thinking about how to tap your plan assets for income. But hold...

The CARE Act Key Components

INDIVIDUAL ASSISTANCE Recovery Rebates Provides all U.S. residents with an adjusted grossincome of $75,000 or less $1,200 for singles and headsof households ($2,400 for married couples filing jointsreturns). The rebate is phased out by...

Income Tax Key Numbers

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for anyindividual. To determine which investment(s) may be appropriate for you, consult your...

The Tax Benefits of Your Retirement Savings Plan

Taxes can take a big bite out of your total investment returns, so it's encouraging to know that your employer-sponsored retirement savings plan may offer a variety of tax benefits. Depending on the type of plan your employer offers,...

The Traits of a Good Investor and How Women Can Make the Most of Them

Many women manage their own money. This includes women who have always been doing so and women who are relatively new to the world of investing, for whatever reason. Regardless of your level of investing experience, there are certain...

How the Coronavirus is Affecting the Market

It’s been a tough week. The number of coronavirus cases have continued to increase globally, and new cases have been confirmed in the United States. Countries are making progress with containment, but those efforts also have...

Leading Indicators Slowing But Still Growing

Leading economic indicators barely grew year over year in December 2019. The Conference Board’s Leading Economic Index (LEI), a composite of leading data series, fell 0.3% month over month in December. However, as shown in the...

The Coronavirus Outbreak Is Spreading

News that the coronavirus—known as COVID-19—has spread to South Korea, Italy, Japan, and Iran, has led to massive selling around the globe, with many European markets closing down more than 4%. U.S. stock markets are...

Teach Your Children Well: Basic Financial Education

Even before your children can count, they already know something about money: it's what you have to give the ice cream man to get a cone, or put in the slot to ride the rocket ship at the grocery store. So, as soon as your children...

Women and Estate Planning Basics

When it comes to estate planning, women have unique concerns. The fact is that women live an average of 5.0 years longer than men.* That's important because it means that there's a greater chance that you'll need your assets to last...

A Solid 2019 for the Job Market

U.S. companies’ hiring momentum slowed in December, ending an otherwise upbeat 2019 on a somewhat down note. Nonfarm payrolls rose by 145,000 in December, below consensus estimates for a 160,000 gain. Manufacturing payrolls slid...

Viral Outbreak Ends Period of Market Calm

Fears that the deadly coronavirus would spread further around the globe intensified Monday and led to the biggest one-day drop in the S&P 500 Index since October 8, 2019. In fact, it was the first time the index moved 1% in either...

Five Strategies for Tax-Efficient Investing

After factoring in federal income and capital gains taxes, the alternative minimum tax, and possible state and local taxes, your investments' returns in any given year may be reduced by 40% or more. Here are five ways to potentially...

Conducting a Home Inventory

A home inventory is a complete and detailed written list of all your personal property that's located in your home and stored in other structures like garages and toolsheds. It should include your possessions as well as those of...

Q4 Earnings Season is All About 2020

Fourth quarter earnings season kicked off this week with 24 S&P 500 Index companies slated to report results. Our expectations are for a marginal increase in S&P 500 earnings per share (EPS) on a year-over-year basis, based on current...

Establishing a Budget

Do you ever wonder where your money goes each month? Does it seem like you're never able to get ahead? If so, you may want to establish a budget to help you keep track of how you spend your money and help you reach your financial...

Client Letter

Happy New Year! What a difference a year makes. One year ago the stock market was plunging and came perilously close to ending what has become the longest bull market ever recorded. In December 2018, dropping stocks were suggesting an...

Getting Started: Establishing a Financial Safety Net

In times of crisis, you don't want to be shaking pennies out of a piggy bank. Having a financial safety net in place can ensure that you're protected when a financial emergency arises. One way to accomplish this is by setting up a cash...

Making a Charitable Choice

What does giving to charity mean to you? Perhaps you think of dropping your change into a can at a local shop or placing a few dollars into a Salvation Army kettle during the holidays. Maybe you've bought Girl Scout cookies or donated...

Charitable Giving: Good for Your Heart and Your 1040!

It may be better to give than to receive, but it may be even better to give and see your generosity rewarded. Charitable giving can play a valuable role in your financial and tax strategies. A well-planned gift to charity could provide...

How Charitable Giving Can Benefit Donors

Kelly and Bob regularly set aside a small portion of their budget for charitable donations. In addition to feeling good about supporting a number of worthy causes, they’ve been able to deduct the value of their charitable gifts...

9 Facts About Social Security

Tip: How Much? Check your Social Security earnings and see an estimate of your benefits on the Web site, www.ssa.gov. Social Security’s been a fact of retirement life ever since it was established in 1935. We all think we know...