Laura J. Hanlon
CPA
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New Strategy Posts for your Finances

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Laura J Hanlon CPA’s Key To Raising Rich Kids

Teach them this: Wealth is what you save, not what you spend.

Most of the younger generation is under the false impression that wealth is based on the luck of a big salary. Nothing could be further from the truth. According to the now-classic book The Millionaire Next Door by Thomas J. Stanley, the affluent tend to answer ‘yes’ to these three questions:

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The Complexity of Social Security Benefits For Conway Retirees

Like most government law, Social Security is not a simple piece of legislation. Since the Social Security Act became law in 1935, hundreds of amendments have been piled onto it, and have thereby added to the complexity. So to make the best decision about how to file for it, you’ll need to consider four things: 1) health, 2) income before retirement and 3) income during retirement, and 4) taxes.

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Hanlon CPA’s Top 5 Tips for Smart Spending

Creating a budget really shouldn’t be the place where financial decisions begin. Instead, a comprehensive look at what you most care about and how you want to live your life is the best place to start, even before budget categories are determined.

This becomes especially clear when we consider how we seek to raise our children with a proper financial mindset. We want them to learn how to earn, how to save (and invest), and how to spend. Unfortunately, this doesn’t spring up for them from the womb!

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What To Do With An Inheritance (Or A Large Refund): 5 Tips From Laura J Hanlon CPA

According to recent data from the Federal Reserve (what do they NOT keep track of??), more than nine million households in the U.S. reported getting an inheritance of at least $100,000. And there is other data which suggests that baby boomers stand to receive over $8 trillion in inheritance over the next few decades.

But sometimes such “blessings” end up as curses to those who aren’t prepared.

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Central Arkansas Tax Preparer On: Tax Extensions, Demystified

There is a lot of confusion in the Central Arkansas tax preparation orbit, every year, about extensions — so here’s what they’re REALLY about…

As you know, Tuesday, April 15th is the filing deadline for a federal tax return. If you need more time to get your paperwork complete, you need to file (or have us file on your behalf) Form 4868 with the IRS by the end of the day on the 15th. This gives you an automatic six-month (until October 15, 2014) extension of time to file.

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