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Deborah R. Jones CPA Newsletter
Financial Solutions...
a free monthly newsletter on creating abundance in your life.
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May 2011 Issue 21
Dear Friends,
Do you have a fears surrounding your money? A fear of bill paying? Fear of not having enough? Or any other fear for that matter? Well, do I have a solution for you!!
For this exercise, you will need faith as small as a mustard seed so it is worth the effort. Sit comfortably in a relaxing place and have an empty space or chair beside you. I want you to lift that fear out of you and place it beside you. Give your fear a life of it's own, outside of you but close to you.
Now that you have externalized "your fear", I want you to love it like you do your favorite pet , child or loved one. Seriously send lots of love to it and transform it. Understanding your fear will help you be able to analyze it, befriend it, and transform it to be accepted by you and released from you forever.
"There is no fear in love; perfect love drives out all fear."
1 John 4:18
Spending 5- 10 minutes with that fear will allow you to move forward to feel your abundance life at hand. Fear is not our friend so taking time to love our fears will help you to see the truth of the matter and provide hope that you can move to the next level beyond it.
Here's to fearless and abundant living!
Blessings of Abundance,
Debbie
Deborah R Jones, CPA
Your Financial Coach |
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Financial Solution....
When do I need to pay Sales and Use Tax in MA? | |
You need to pay sales taxes in MA on items purchased in MA and on items that you have shipped into MA. So when you order items on the phone and online, you are responsible to pay use tax of 6.25% on that purchase. This use tax is filed and paid with your MA Resident Tax Return (Form 1). If you don't want to total up all the purchases, you can use the MA "safe harbor" amount based on your MA adjusted gross income. This safe harbor protects you from an audit of your use tax for items that are less than 1,000. If you purchase an item over the internet for greater than 1,000 and you ship it to you to use in MA, you will need to pay 6.25% on that purchase on your MA tax return. If you'd like more information on sales and use tax check out "A Guide to Sales and Use Tax" from MA Dept of Revenue. |
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Financial Solution....
What % should I should I put toward my 401K? | | |
 Here are some thoughts to decide what % is right for you.
At a minimum, you should at least put up to the % that your employer matches. Never give up free money from your employer or anyone for that matter.
If you can afford to put in the max, you will reap the abundance life in your retirement.
Start some where! I would suggest that you won't miss 1 or 2 % from your paycheck. Then you can increase it along with your pay increases. Say you get a 2% increase in pay. I would encourage you to increase your 401k by 2% or at least half of your raise.
If you earn less than $50,000 in wages, you qualify for a tax credit for your contribution to a retirement plan. It is especially important for you to contribute because the government will give you a tax credit back to help you pay toward retirement. Always take advantage of free money.
Also if you don't have a 401K at your work, I would suggest putting money into a Roth IRA. Feel free to email me to talk about what retirement vehicle might be right for you.
Abundant living in your retire starts with small steps today! |
| Let us make your life less taxing and help you to grow your money tree! | | |
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We are in the business of serving our clients financial needs. Everyone's needs are different they can range from taxes, business marketing advice, IRS or MA DOR representation , and debt reduction. We can help you get on the right path, create a budget, set your financial goals, payment plan for overwhelming credit card debt and help with an out of control mortgage payment. Call us today at 508-230-8756 or check out our website to see what we can offer you as an individual, small business or solo professional.
Together we can answer your questions and solve your problems and map out a plan that will give you financial peace and success . Our financial planning package is a great to get on the right path financially.
* One Financial planning session to set goals
* Preparation of annual income taxes
*Unlimited phone calls and email for the the year
Let us make your life less taxing and help you to define your life goals.
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Copyright 2011 Deborah R. Jones CPA. All rights reserved
(but feel free to copy it post it, quote it, think about it and forward it on to others)
DEFINE your life goals. IMPLEMENT your plan. THE SKY IS THE LIMIT. |
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