The founder of Provident CPAs, also based in Tulsa, OK, David makes sure that he focuses just as much energy on community engagement as he does on his work.
Saving vs. Investing in Your Retirement
Life expectancies have gone up rapidly over the past century. The number of people worldwide who reach the “traditional” retirement age of 65 is increasing in many countries. The United States is no different. Many financial talking heads point out that it’s important to save for retirement. However, this statement can be problematic.
Saving money is a good thing. Most families need to have some money stashed away when emergencies arise, and they will arise. The ability to pay ca...
Considerations if You’re Looking to Retire in 2021
Yes, retirements are still a thing that is happening this year. Though the economy seems uncertain and the world is changing, that’s no reason to put off your plans about when it is time to bring your career to an end. If you are planning on retiring in 2021, there are certainly a few specific things you’ll need to take into consideration before you move forward.
The first thing you need to do before retiring in 2020 is to double-check your retirement accounts. This has been a rough year for ...
Costly Retirement Mistakes to Know and Avoid
It’s never too early to start planning for your retirement, but you may not consider some important factors as you get started. It’s necessary to learn about the basics of growing wealth for retirement to ensure you don’t make costly mistakes. This guide can help you circumvent common errors.
Inaccurately Assessing Your Retirement Budget
While it is difficult to predict the future, you should try to create a retirement budget that’s as accurate as possible. This is necessary because you’ll be...
Medicare Facts For Retirees
Three months before turning age 65, one can sign up for Medicare and up to three months after the birthdate. One is never alone if he feels frustrated trying to figure out Medicare with its specifications. Seniors sometimes get confused about the different aspects of Medicare, but keeping it simple is how one can better understand it.
So, the first part of Medicare is called part A. It covers any hospital stay and carries a deductible of $1408 that resets after one is out of the hospital for ...
Keeping Your Retirement Plan on Track During the Pandemic
The pandemic has affected the big plans that some individuals had regarding their retirement savings. Others even lost their jobs and are not sure whether they will retire comfortably. So, to keep your retirement plan on track during the pandemic, employ these tips.
1. First Concentrate on Emergency Savings
It isn’t easy to contribute to a 401(k) or retirement account if you are not earning right now. In case your earning has reduced, focus on emergency savings. Save your money in an account ...
How You Can Retire Earlier Than Planned
Retiring a few years early means more time for hobbies, family, and enjoying life. Although some workers go to extremes to shave off as many working years as possible, making small, barely noticeable changes and earning big dividends is possible. Here are three tips for retiring earlier than planned.
For some people, working after 40 is unimaginable. For others, financial burdens make it impossible ever to retire. Any retirement plan should include a target year, or at least a ta...
10 Kids Who Made a Positive Difference During the Pandemic
COVID-19 has led to many disappointments including the cancellation of concerts, weddings, and graduations, restaurant closures, and school shutdowns. Through it all, some amazing kids have found ways to make a positive impact in their communities.
Curtis Rogers Created a Prom: Curtis Rogers felt so bad that his baby-sitter would be missing her prom due to COVID-19 that he created a prom for her.
Why Accounting is a Rewarding Career
A career in accounting is a wise education investment as it yields returns. Accountants have an idea of money earned and how it needs to be used to build the economy.
Those who pursue a career in accounting have many advantages over the rest as one is guaranteed job security.
Make the Right Moves at Every Age to Retire Wealthy
Retirement savings are a big concern for most Americans. Most workers no longer anticipate seeing a pension in their golden years. Also, the deposit caps on accounts like IRAs and 401(k)s make it difficult to accumulate wealth. It’s difficult even to retire comfortably just retiring on those instruments. Luckily, there are other strategies to pursue people who want to retire wealthy.
There are things people can do at every age to set themselves up for a comfortable retirement. Young adults in...
The 5 Basic Accounting Principles
The COVID19 pandemic has stimulated the creativity of many Americans who were bored with the shelter-in-place restrictions. This has resulted in a boom of new businesses, primarily sole proprietorships, and the owners’ need to become familiar with accounting, marketing, and other concepts they may have been hitherto unfamiliar with.
Whether you outsource your accounting or do it yourself, there are five basic principles of accounting that govern the accounting process. They are as follows:
Helping to Improve Your Neighborhood Culture
A neighborhood community is much like any other group dynamic. It contains individuals that each contributes their unique aspects to the total experience. Many of the same strategies that help to meld corporate groups can be used to help communities feel more connected and more engaged in the work of making their neighborhoods better. Here are a few ways to improve your neighborhood culture to make it a more practical daily living environment.
Being Transparent With Issues & Problems
5 Small Things Anyone Can Do To Help Their Community
Attend Local Events
Depending on where you live, there might be local events in your area to attend; events such as film festivals, food truck drive-ups, dance performances, and arts and music events. Your community can help provide support for local talent. Be sure to pay attention to local announcements and news forums to stay up to date, then go check them out. Try to buy merchandise if you get the opportunity!
If you enjoy volunteering your skills and time, there are plenty of w...
Actions To Take Before Planning Your Business Succession
Planning for business succession is vital for the future of the business. The succession plan gives the owner a clear vision of the business objectives and how to achieve them. A business owner should be less subjective in succession planning, especially if it involves leaving the business to a family member. Here are three steps to take before succession planning.
Define the Vision of the Future of the Company
Business owners should be clear about the future of the business. They should have...
Adjusting Your Accounting Strategy During Economic Turmoil
The old saying tough times call for tough measures has never been more illustrious than today under the Covid-19 pandemic. In its wake, businesses are facing unprecedented challenges that have seen some completely lose everything. In times of such economic turmoil, companies must re-strategize to optimize their chances of surviving but thriving, even as the pandemic wreaks havoc on economies the world over.
Accounting is one of the critical areas where re-strategizing could mean doing better ...
Land And Its Tax Benefits
During the current pandemic, Wall Street has suffered the most raising uncertainty in all other investment options. However, for many years land has proven to be the safest investment during times of economic hardship. Professionals have always considered tax sheltering and land investments to go well together. The area offers a variety of tax protecting options determined by experts. They include the following listed below.
Section 1031 is commonly referred to as a like-kind exchange because...