Don’t Let Your Workforce Fall Off Their Own Fiscal Cliff This January

Now that Congress has mostly averted falling off the fiscal cliff by penning The American Taxpayer Relief Act of 2012, some employees may have a false sense of confidence that the Act only will impact the wealthy.  The message we are hearing is that the middle class has been spared from a tax increase, but that’s not necessarily true.  Your employees will have an unpleasant surprise with their first paycheck of the New Year in 2013 since the temporary reduction of 2% on the employee portion of the Social Security tax that we’ve had for the past two years was allowed to expire.  As of January 1st, the tax increases back to 6.2% on the first $113,700 of earned income.   Read more

The 12 “Financial” Days of Christmas

In the spirit of yuletide caroling, allow me to introduce a new song for the holidays.

On the first day of Christmas my true love gave to me… one extra annual payment on my mortgage. Read more

Financial Education in the Workplace: The 2% Decision

Now that our politicians have finally come to a decision about the new 2011 tax law, your employees have a decision of their own to make – what will they do with the 2% raise they will see in their paychecks?  With the December 17th passage of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, employees will only pay 4.2% towards Social Security tax in 2011, instead of the traditional 6.2%. Read more

4 Steps to Take Now so Tax Cuts Don’t Affect Your Retirement

Have you seen the news lately?  The president has announced his support of an extension of the Bush-era tax cuts, but there are some other tax cuts in the fine print that may hurt your retirement.  The proposed legislation includes a 2% reduction in Social Security taxes.  Say what?!?  Isn’t Social Security in enough trouble?  According to the Congressional Budget Office, Social Security expenditures have EXCEEDED tax revenue for the first time ever this year.  The fund itself is expected to run out of money by the year 2037.  So what can you do in response to this potential derailment in your future Social Security benefits? Read more

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