How to Maximize Tax Deductions Through Donations

Every year towards the end of the year you hear about wealthy individuals making extremely generous contributions to charitable foundations. While these donations certainly help the foundations receiving the money, they also benefit the individual donating the funds. You are able to claim charitable donations as a tax deduction when filing your taxes. However, it […]

Is it necessary to know your net worth? Here’s why.

Your net worth is the amount by which your assets exceed your liabilities. Simply put, the difference between what you own and what you owe is your net worth. If your assets exceed your liabilities, you have a positive net worth. On the contrary, if your liabilities are greater than your assets, it would be a negative net worth. Your net worth provides […]