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Go on a cleanse this summer — a financial cleanse

Go on a cleanse this summer — a financial cleanse

By on Jun 18, 2018 in Uncategorized | 0 comments

You’ve likely heard about those trendy diet cleanses. But there is a different kind of cleanse that you should definitely try — a financial cleanse. This type of cleanse could help you put money towards debt reduction, an emergency fund, or even send you on an end of summer getaway! Whatever the reason, it might be time for a money do-over. Here are six steps for a financial cleanse: Track spending; Create an inventory of what you have; Go on a digital cleanse; Keep a list of your spending regrets; Go on a fiscal fast; and Stay accountable. To read more about these six steps, read Tips on How to Go on a Financial Cleanse This Summer. Credit to co-opcreditunions.com Tips on How to Go on a Financial Cleanse This...

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Investing 101

Investing 101

By on May 7, 2018 in Uncategorized | 0 comments

If you don’t see a big pension income in your future, you should learn a little about investing (beyond just savings accounts and CDs). Here is a guide for what you should know to help take control of your financial future. Pay off high-interest rate debt, such as credit card debt first. Have a fully loaded emergency fund. Understand that when you invest, sometimes you’ll lose money — the stock market fluctuates (think long term). Know what portion of your portfolio each holding represents and notice as the proportions change. Plan to live without any of the money you invest in the stock market for at least five years, if not 10 or more. (Again, think long term.) Understand the difference between a balance sheet and an income statement — and know where to find them. Realize that it’s much more important to understand and follow a business than to just follow stock prices each day. (After all, you’re buying part of these businesses.) Have a long-term investment horizon, aim to hold on to your stocks for years, as long as they remain healthy and growing. Compare your performance to a benchmark such as the S&P 500 index. You can read more about each of these tips, and get a checklist for investing, in The Motley Fool’s full article “How to Invest — in Stocks, Bonds, Retirement Accounts, and More.” Credit to: The Motley Fool How to Invest — in Stocks, Bonds, Retirement Accounts, and More Investing in stocks and bonds is easier than you might think. Here’s how to get started and some investment strategies to consider. By Selena Maranjian, May 6,...

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JMA Volunteers at NCCF Flapjack Fundraiser

JMA Volunteers at NCCF Flapjack Fundraiser

By on Apr 23, 2018 in Uncategorized | 0 comments

A group from JMA volunteered to help the Northern Chautauqua Community Foundation (NCCF) at their Flapjack and Basket Raffle Fundraiser, held March 24th at Applebee’s in Dunkirk. The event benefitted NCCF’s Service Learning Mini-Grant Program. JMA volunteers included partners Dave Mackowiak, Kevin Wystup, and Denise Veloski, along with Scott Dill, John Perry, and Kathy Furness. The NCCF serves to be a catalyst for the establishment of endowments to benefit the community both now and in the future; to provide a vehicle for donors’ varied interests; to promote local philanthropy; to serve as a steward of funds; and to provide leadership and resources in addressing local challenges and opportunities. For more information on the NCCF...

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11 costly tax mistakes – are you making them?

11 costly tax mistakes – are you making them?

By on Apr 16, 2018 in Uncategorized | 0 comments

When it comes to taxes, there is a surprising amount of people are ignorant about their taxes. Educating yourself on taxes can help you save money and avoid trouble with the Internal Revenue Service (IRS). Here are 11 tax mistakes that you may be making that can unfortunately cost you thousands of dollars. Simple mistakes like doing the math wrong or putting in your social security number wrong Using the wrong filing status Taking the standard deduction instead of itemizing Forgetting about your ‘side gig’ Missing out on potential deductions Not taking your IRA contributions into account Reporting charitable donations you can’t prove Not reviewing your tax return before filing Waiting until the last minute to file Not paying on time if you file for an extension Not seeking help To find out more about each of these blunders, read the full article on insider.com. Credit to Business Insider You’re probably making these 11 tax mistakes — and it could be costing you thousands By Katie Warren, INSIDER Mar. 6,...

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Looking for an Opportunity?

Looking for an Opportunity?

By on Apr 2, 2018 in Uncategorized | 0 comments

At Johnson, Mackowiak & Associates, LLP, we know that our success as an accounting firm depends on maintaining an excellent team. That’s why we offer challenging opportunities, competitive compensation and a flexible and comfortable work environment where you’ll feel like part of the family. JMA is looking to hire a CPA. For additional information, visit our Opportunities page. If you meet our qualifications, give us a...

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The Worst Income Tax States

The Worst Income Tax States

By on Mar 19, 2018 in Uncategorized | 0 comments

Tax day is coming…for most states. Seven U.S. states have no state income tax — Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming. New Hampshire and Tennessee don’t have a state income tax either, but they do tax interest and dividends at 5% and 6%. When it comes to the states that do…North Dakota is on the low end of the spectrum. To see where your state ranks, read the full article on business insider.com. Credit to: The Business Insider What Americans pay in state income taxes, ranked from highest to lowest By Tanza Loudenback, February 6,...

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