budgeting

Create a budget

You will have regular monthly expenses, but you will also have annual and twice-a-year expenses like car insurance, vacations, and holiday gifts.  Be sure to allot a portion of your monthly income to these expenses so you don’t run short when they come due.  And be sure to include retirement contributions in your budget!

It’s tax season again, and a question we get from a number of clients after receiving their yearend statements is, “Are my investment advisory fees tax deductible?” And the answer is an equivocal, “It depends.”