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The Woodward Financial Advisors Blog

Keep an Eye Out for the Kitty, or Rather, the Kiddie Tax Thumbnail

Keep an Eye Out for the Kitty, or Rather, the Kiddie Tax

Each year, I get a tax bill for our family dog. This county tax pays for animal control and shelter services. Our neighbors get a similar bill for their cats. But this kitty tax is entirely different from what’s known as the “kiddie tax”, which is the topic of this article… sorry if this is a disappointment for you cat lovers out there! The kiddie tax comes into play when someone is considering giving to a minor-age family member. Many of our clients are very generous to their loved ones, so we find ourselves discussing this sometimes-overlooked rule often.

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New Year's Resolutions Thumbnail

New Year's Resolutions

Financial planning reminds me of New Year’s resolutions sometimes. Our financial goals are usually well-intentioned, aren’t they? We hope to retire one day, to own a home, to pay for our education or that of our loved ones, and to give generously to charitable causes, among other things.

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The Relationship Between Time & Intensity Thumbnail

The Relationship Between Time & Intensity

As a Financial Advisor, I cannot help but see the significant parallels between the consistent habits we need to maintain (or achieve) good health and those that help us be more successful in the pursuit of our various financial goals. We all seem to know what to do at a high level: save more, spend less, invest smartly, eat healthier foods, work out. What I find isn't always recognized is the relationship between the time and intensity of these actions.

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