Is there a cost associated with this service?

Seminars, webinars, and first thirty minute consultations are provided at no cost however individual sessions provide a more in-depth curriculum that is essentially personalized to the individual and do require a small fee.

How do I access the free consultation button?

When the button is pressed, a popup box will appear with various emails links. Select the email you want to use and then click on the link that opens.

Is there a way to pay down multiple sources of debt at the same time?

With a debt consolidation loan you can pay off multiple debts by bundling them together into a single loan. Debt consolidation loans typically offer better interest rates than your current debts, lowering your monthly payment.

How much money should you have in an emergency fund?

While the size of your emergency fund will vary depending on your lifestyle, monthly costs, income, and dependents, the rule of thumb is to put away at least three to six months' worth of expenses.

Why is compound interest the key to generating wealth?

The power of compounding helps a sum of money grow faster than if just simple interest were calculated on the principal alone. And the greater the number of compounding periods, the greater the compound interest growth will be. For savings and investments, it multiplies your money at an accelerated rate. But if you have debt, compounding of the interest you owe can make it increasingly difficult to pay off.

How many years do I need to keep my financial records in case of an audit?

Having complete and detailed records are crucial to the preparation and support for any income tax return. For most of us, we wonder how long we need to keep our tax records after we have filed a return. In most cases, the answer is three years … but that’s not always the case.

How do I schedule a live session for a group, church or youth group?

Please reach out via email (IBYG02@gmail.com) or contact via phone.

When are your contributions to an IRA taxed?

Traditional IRAs go into the account tax free, meaning you do not pay income tax on the contribution. When you withdraw money from a traditional IRA your contributions are taxed. Many people like to defer the tax payment until later in life even though they will also pay taxes on the interest their account has earned.

Roth IRA contributions are made with after-tax dollars meaning you pay taxes on your entire paycheck and then add the money to your Roth IRA account. Paying your taxes upfront allows you to withdraw money for retirement without the burden of being taxed in your golden years. With a Roth IRA you also benefit from earning tax-free interest.

What is the difference between a debit card and a credit card?

When you use a debit card, the funds for the amount of your purchase are taken from your checking account almost instantly. When you use a credit card, the amount will be charged to your line of credit, meaning you will pay the bill at a later date, which also gives you more time to pay.

Who can I claim as a dependent?

A dependent is someone whom a taxpayer can claim on their income tax return. Typically, you may claim yourself unless you are the dependent of another taxpayer, your spouse (unless he or she files separately), and your children.

What is estate planning?

An estate is everything you own or owe at the time of your death. And an estate plan is a written record that will help ensure an individual’s assets and finances are properly managed, according to their wishes.

It designates who will receive your assets in the event of your death or incapacitation and protects your wealth.