Tax Alert: Driver License eFile Requirements
Don’t forget to bring your Driver License or State issued ID to eFile your tax returns. This new requirement is apart of IRS and state departments of revenue to combat tax fraud. Check out this video for more details.
Tax Alert: Changes to Child Tax Credits & EITC
Check out Rashad Phillips’ video on the new IRS requirement for the Child Tax Credit, Additional Child Tax Credit, and Earned Income Tax Credit. If you haven’t heard of the new requirement, please check out this video!
Increase your Tax IQ! Download Rashad’s Quick Course On Taxes at rashadphillips.com. [Note: The button to download is on the home page.]
It’s Not What You Have, It’s What You’re Worth
Sometimes we hear people brag about their new car, new home, luxurious apartment, expensive jewelry, designer clothing, or high tech gadgets. These boasters enjoy bragging about their prized possessions to communicate that they have achieved a certain social status. In the mind of the untrained financial professional, these people are “Doing It Big!”, “Flossin”, and “Shinin.”. The sad truth is that many of these people are “Smelling Good, Looking Good, and Broke!” Why? Because it’s not what you have, it’s what you’re worth.
Whether you are a business expert or you have troubling balancing your checkbook, life requires that you participate in business transactions (such as: financing a new car, leasing an apartment, buying a home, or purchasing insurance). But the sad truth is that most people lack the required education and experience to make sound business decisions. The result of the lack of business expertise leads to major confusion between assets and liabilities. In simple terms, some people think that they are financially “getting ahead” when they are actually setting themselves back.
Rashad Phillips, MBA is a Tax Accountant, Small Business Advisor, and an Award Winning Business Journalist. Check out his full article on Old School 105.3′s Website at the link below.
http://oldschool1053.com/2949703/its-not-what-you-have-its-what-youre-worth/
Relationships are the “New Money”
There’s an old saying: “It isn’t what you know but who you know.” But as we move into 2012 and beyond, the new saying will be “It’s what you know and who you know.”Why? Because in this new economic environment, the average American doesn’t have access to the cash or credit that was available 10 years ago, so we must find a new source of funds. In 2012, Relationships are the “New Money.”
One important function of money is that it’s a medium of exchange, which means we use money to trade for goods and services. Since we don’t have the available cash or credit to exchange, many of us will be forced to consider bartering for goods and/or services instead of using cash.
Rashad Phillips, MBA is a Tax Accountant, Small Business Advisor, and an Award Winning Business Journalist. Check out his full article on Old School 105.3′s Website at the link below.
http://oldschool1053.com/2685502/relationships-are-the-new-money/
Time To Have The Talk: The Money Talk
It’s time to have the talk. About what? The topic that most Americans are afraid to discuss. Now is the time to find the courage to release our fears and let our friends and family know if we are experiencing or will soon experience financial challenges. I call this Money Talk, an open and honest conversation with our inner circle of friends/family about our financial situation.
During the past two years, many of my clients have opened up and revealed their deepest and darkest secrets: they are on the verge of losing their home, they lost their jobs, their credit is terrible, their home values have drastically declined, they are unable to pay their monthly bills, or they have little savings. Many of my clients consider me a trusted professional, so they feel comfortable sharing their financial information with me but they are unwilling to share their financial distress with their close friends or family members. The failure to communicate these important financial concerns create financial illusions; giving many people the impression that their friends and family members are doing just fine.
Rashad Phillips, MBA is a Tax Accountant, Small Business Advisor, and an Award Winning Business Journalist. Check out his full article on Old School 105.3′s Website at the link below.
http://oldschool1053.com/2566042/time-to-have-the-talk-the-money-talk/
Rashad’s WBTV News Tax Interview
Rashad Phillips, MBA explains North Carolina’s New Tax Reforms.
Are You Substituting Money For Self-Worth?
By Rashad Phillips
Often, we attempt to conceal or deny the connection between money and romantic relationships. Part of the denial is based on a lack of understanding about the functions of money and uncertainty as to the purpose of romantic relationships. The lack of knowledge regarding both money and relationships create major issues that result in break-ups, separation, and divorce.
Money has an important function, which is referred to in economics as a measure of value. The measure of value component of money is used to determine one’s net worth. As human beings, we have the challenge of determining our own self-worth.
Rashad Phillips, MBA is a Tax Accountant, Small Business Advisor, and an Award Winning Business Journalist. Check out his full article on Old School 105.3’s Website at the link below.
http://oldschool1053.com/2118251/are-you-substituting-money-for-self-worth/
