The two main types of debt are Secured and Unsecured. The interest rate received and the tax deductibility of the interest are two primary ways to evaluate the quality of debt. It is hard to retire with a large amount of debt, so we typically recommend clients avoid...
The proposed budget could decrease the nation’s deficit by $3 trillion within the next ten years if approved. The main focus of the debate is the areas of increased taxation to offset increases in budget expenses. It is unlikely this proposition will pass the...
Behavioral Finance is the textbook term used when discussing human psychology as it relates to money management. Emotions tend to drive the investment decisions of retail investors while large financial institutions rely on technical and fundamental analysis. One of...
A Recession or Depression occurs when the economy declines either a substantial amount or for an extended period of time. There is commonly an identifiable trigger for the economic pullback, but it also could be caused by the timing of the economic cycle. A...
The five tax filing status options are Single, Married Filing Jointly, Married Filing Separately, Head of Household, and Qualified Widow. The filing statuses available to you will depend on your specific details, including marital status, number of dependents, income...
Special Note: Just a reminder that we offer tax preparation through our tax team at Summit Tax Services/Heemer Klein. If you’d be interested in a quote, as we’re very competitive, please give us a call at 586-459-5340. Our goal is to make tax time easier on you....
