The “Dow” is hitting new highs with regularity. That sounds good to casual market observers. Heck, every week I hear about someone who does not know or care about the stock market telling their friends about how the Dow just crossed a certain level, and that its doing great in general. That’s true in fact, but there is more to it, unless you just want to rest on your laurels and ignore a major risk that is inherent in tracking the Dow.
Read Article: https://www.forbes.com/sites/robisbitts2/2017/10/25/following-the-dow-theres-something-you-should-know/?ss=personalfinance#71051b1a6932
The Internal Revenue Service said that for the upcoming 2018 filing season, it will not accept electronically filed tax returns where the taxpayer does not address the health coverage requirements of the Affordable Care Act, the first tax season it has refused to accept such returns.
In an update Friday to the web page of its ACA Information Center for Tax Professionals, the IRS said it will not accept the electronic tax return until the taxpayer indicates whether they had coverage, had an exemption or will make a shared responsibility payment. On top of that, the IRS said tax returns filed on paper that don’t address the health coverage requirements may be suspended pending the receipt of additional information and any refunds may be delayed.
Read Article: https://www.taxprotoday.com/news/irs-wont-accept-tax-returns-next-year-without-health-coverage
The inbox seems to have become tax preparers’ worst enemy in this age of phishing e-mails designed to trick preparers into volunteering critical information. Crooks convert stolen data into phony refunds faster than ever, and it’s easy to think that time-tested protections aren’t enough anymore.
The IRS shared its top 10 tips and practical examples for tax pros to protect themselves – and their clients – from taking the bait. (A text version of this article is available.)
Read Article: https://www.accountingtoday.com/list/10-tips-for-avoiding-tax-scams?brief=00000158-6edb-da3c-af5a-ffff76ed0000
Times change. Technology continues to advance. Businesses have moved to data analytics to make important decisions on everything from marketing to capital investments.
Through it all, one career continues to flourish: accounting.
More than 1.3 million people work in the accounting field, according to the U.S. Bureau of Labor Statistics. That number is expected to grow 11 percent by 2024, with an additional 142,000 people joining the ranks of accountants.
Accountants made a median annual salary of $68,150 in May 2016, according to the BLS. The top 10 percent earned almost $121,000,
But the attraction of accounting goes beyond just stability, salary and job growth. Accounting also offers a variety of different career paths to follow. The wealth of career choices applies both to students learning to become accountants and working accountants looking to change their career focus.
Here is a look at four different career paths within the accounting field.
All of these areas require a bachelor’s degree, status as a Certified Public Accountant, expert-level knowledge of Generally Accepted Accounting Principles (GAAP) and, in most cases, a few years of experience. Other needed certifications are noted in each category.
Read Article: www.businessadministrationinformation.com/general-business/four-accounting-career-paths
It wasn’t long ago that cloud technology was emerging as a potential disruptor to the accounting profession. In the beginning, many didn’t foresee that cloud adoption would become so widespread, but now it’s becoming the standard and we’re looking at an even larger potential disruptor: artificial intelligence (AI) and machine learning.
Read Article: www.huffingtonpost.com/entry/six-finance-tips-i-wish-i-followed-in-my-twenties_us_597cd080e4b0c69ef705289d
“Money can’t buy you love, but it can certainly tear it apart,” says David Rosell, founder and president of Rosell Wealth Management and author of Keep Climbing: A Millennial’s Guide to Financial Planning. He emphasizes that there is no one-size-fits-all approach to dealing with your partner and your bank account, but that talking about your attitudes towards cash is key. “It comes down to having open lines of communication,” he says. “Remember you are a team.”
Read Article: https://www.nbcnews.com/better/business/love-money-navigating-finances-your-significant-other-ncna786511
When Lauryn Luther earns money she is careful to set aside 15 percent in a rainy day fund right from the start. She also saves another 15 percent in an interest-bearing account for big expenses down the road, like college or a car. She then commits 30 percent to charity and spends the last 40 percent mostly how she sees fit – whether that’s on toys, a book or her favorite candy.
She’s a 10-year-old.
Lauryn is one of a growing number of children who have learned about money by enrolling in a summer camp focused on financial education.
Read Article: http://www.cnbc.com/2017/07/21/more-kids-choose-summer-camps-that-focus-on-finance.html
They say that “death and taxes“ are unavoidable, but the irony is that accountants top the list of professionals with the longest life expectancy.
It’s true, and in fact, accountants (and similar white-collar, middle-class professionals) can expect to outlive blue-collar workers by as much as eight years.
That means that a male accountant lives to an average age of 80, while a female accountant can expect to live to about 85 years of age.
So, why do certain professions like accountants live longer than average? You could argue that most accountants aren’t big risk-takers, but the real secret is in autonomy. In other words, accountants generally have greater control over their jobs compared to other careers like manual laborers, police officers, and waitresses, and this increased control reduces stress and increases workplace happiness.
Read Entire Article: https://www.accountingweb.com/community/blogs/mwoodruf99/death-taxes-heres-why-accountants-live-longer
As parents, we understand the importance of talking to our children about sex and drugs. We get them involved in sports early to teach them the value of teamwork and physical health. Yet how often do we discuss budgeting, compound interest or debt management? When it comes to finances, we don't want to stress them out, think talking about money is rude, or feel they don't need to understand finance until they are older. Yet every step our kids take from college through retirement will be directly influenced by their ability to manage their finances: student loans, credit cards, jobs, mortgages, savings, etc. Some schools teach personal finances, but a financial literacy test given by the National Financial Educator's Council found that test-takers from 15-18 years old scored an average of only 59.6%. So it's up to the parents to make sure our children have a financial education before going out to the real world, where they will make financial decisions that will affect the rest of their lives. Of course, no child big or small will respond well or retain a sit down lecture on finances, so you have to sneak in the education; make it fun, interactive and relevant. The more you integrate finances and money into their everyday life, the more comfortable they will be with personal finance as adults.
Read Entire Article: https://www.forbes.com/sites/lizfrazierpeck/2017/06/28/how-to-teach-your-children-about-finances-at-any-age/?ss=personalfinance#2311bb46b2fe