Making Your Money Matter | Actionable resources to help accumulators optimize money to maximize their lives. Spreadsheet guru, tax pro, budgeting advocate.
Joined April 2016
- Tweets2.2K
- Following3K
- Followers3.3K
- Likes4.3K
Kathryn Hanna, CPA/PFS, CFP® retweeted
At every point on this chart you could have made a plausible case that:
1) the future was dim
2) the young generation was lazy
3) politicians were screwing everything up
Kathryn Hanna, CPA/PFS, CFP® retweeted
Health insurance - something every single person needs
The problem...plans are confusing:
- In network
- out of network
- copays
- deductibles
What does any of this mean?
Let me teach you everything you need to know about health insurance
Kathryn Hanna, CPA/PFS, CFP® retweeted
As a small business owner, especially if you operate as an S Corp
Managing expenses and taxes efficiently is crucial
One tool not enough know about and utilize is the accountable plan
Here's what you need to know so you can reimburse yourself and lower your S Corps taxes:
Kathryn Hanna, CPA/PFS, CFP® retweeted
Changing tax laws are frustrating, but represent an opportunity
Here are 6 practical ways for firms to capitalize on uncertainty (and a report template to swipe):
Kathryn Hanna, CPA/PFS, CFP® retweeted
People hire advisors bc they are looking for someone to:
-See what they don’t see
-Know what they don’t know
-Anticipate what they don’t anticipate
-Manage what they don’t manage
But that doesn’t automatically mean that people want their advisor to:
-Tell them what they don’t see
-Tell them what they don’t know
-Tell them what they’re not anticipating
-Tell them what they’re not managing well
Few.
Kathryn Hanna, CPA/PFS, CFP® retweeted
“When we are no longer able to change a situation, we are challenged to change ourselves.” — Viktor Frankl
Kathryn Hanna, CPA/PFS, CFP® retweeted
Too many people think “personal finance” is budgeting and frugality.
Too few people realize that it’s actually about reframing your mindset to THINK BIG, create value, invest, reinvest, grow.
Kathryn Hanna, CPA/PFS, CFP® retweeted
Starting in 2024, the IRS will provide taxpayers an option to file taxes for free, directly with the government. That means an end to having to hand over $240 and your sensitive, financial data to companies like Intuit and H&R Block.
Kathryn Hanna, CPA/PFS, CFP® retweeted
How to Simplify Your Finances:
- 2 credit cards
- 1 checking + 1 savings
- Simple investments (e.g. target-date funds) in retirement accounts & if applicable, taxable accounts
- Pick 1-2 areas to cut spending
- Pick 1-2 areas to spend MORE on
Kathryn Hanna, CPA/PFS, CFP® retweeted
"Most people die at 25 and aren't buried until they're 75"
Why?
4 reasons and solutions:
Kathryn Hanna, CPA/PFS, CFP® retweeted
With the latest mass shooting at the Allen Premium Outlets mall in Allen, Texas, we are reminded that this vicious cycle is just repeating itself yet again.
That cycles goes as follows:
- Mass shooting leaves people dead.
- Politicians either offer 'thoughts and prayers," they demand gun control, or they blame a particular group of people.
- Days or weeks go by and the news cycle changes.
- Nothing get done.
- Cycle repeats.
We aren't getting anywhere because politicians can't agree on a solution and they'd rather point fingers at one another than put an end to the cycle.
There are a lot of problems from my point of view. They include:
1) Ease of getting a gun.
2) Mental healthcare in America.
3) Too many people feel that society has let them down.
4) Too many children are being raised by parents who are too busy with other things.
5) Too many children are not taught about the damage they do when they tease other children.
There isn't just one simple fix. This is a multi-faceted issue and as Americans we should be trying to work together instead of alienate each other.
Kathryn Hanna, CPA/PFS, CFP® retweeted
Federal minimum wage in:
2009: $7.25
2010: $7.25
2011: $7.25
2012: $7.25
2013: $7.25
2014: $7.25
2015: $7.25
2016: $7.25
2017: $7.25
2018: $7.25
2019: $7.25
2020: $7.25
2021: $7.25
2022: $7.25
The result: It's now worth 41% less today than it was in 1968.
Kathryn Hanna, CPA/PFS, CFP® retweeted
In 2034, Social Security would still be able to pay about $780 for every $1,000 in benefits scheduled. Not ideal, but all of this to say that SS benefits are here to stay. This assumes nothings changes. Don't spread misinformation. Learn more at ssa.gov/ThereForMe
Kathryn Hanna, CPA/PFS, CFP® retweeted
Homebuyers with good credit scores will soon be facing higher mortgage fees.
This will be done in an effort to close the racial homeownership gap and get more first-time and low-income buyers.
Here's how the Biden administration plans to address the housing crisis:
Kathryn Hanna, CPA/PFS, CFP® retweeted
Most retirees don't realize not spending money is just as bad, if not worse, than spending too much.
The money we leave behind is every moment we could have lived but didn't.
Kathryn Hanna, CPA/PFS, CFP® retweeted
Even if you owe tax and can't pay in full, it's better to file on time and pay as much as you can. That will eliminate the failure-to-file penalty and help with interest on the unpaid balance. See #IRS details at: irs.gov/penalties
ALT Various tall weeds pictured. Text: ‘Interest and penalties grow quickly. If you owe taxes, file your tax return by the due date and pay as much as you can.’ IRS logo and URL also displayed: irs.gov/penalties
Kathryn Hanna, CPA/PFS, CFP® retweeted
So many financial planners talk about values
And how everyone should align their money with their money
Yet they project their values onto people and tell them they are wrong for how they spend
You got to understand
Some people would rather spend more today than retire early
AND THAT IS OKAY!!!!!!
