Tehachapi's Online Community News & Entertainment Guide
Tehachapi's Online Community News & Entertainment Guide
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As your electric bill continues to grow, we can get you a new roof and solar panels for the same monthly price, with back up batteries! That’s right, no more high electric bills, no more peak hours and a new 30-50 year roof plus solar panels with back up batteries that you own. Zero down and financing as low as 3.99%. Scan the QR code in our ad on this page to get your custom report, or go to www.getsolartoday.energy and scroll down to click on the three easy steps that will explain the process and how easy it is to save money. Call owner D...
To be successful in most endeavors, it's important to develop good habits - and that's certainly the case for investors. And the earlier one develops these habits, the better. So, if you have teenagers who may be starting to work at part-time jobs, now may be a great time to introduce them to investing - and one place to begin might be a Roth IRA. As you may know, a Roth IRA is a popular retirement savings vehicle - its earnings can grow federally tax-free, provided withdrawals aren't taken...
Municipal bonds are issued by public entities such as state and local governments, health systems, universities, and school districts to help finance the building and maintenance of infrastructure projects such as roads, airports, water systems, and facilities. Despite the higher borrowing costs that resulted from the Federal Reserve's inflation-fighting interest-rate hikes, municipalities issued $308 billion in debt in 2022 to fund capital projects, after selling more than $321 billion in...
In a fundamental sense, estate planning is about control. With an appropriate estate plan in place, you, not the courts (or anyone else you would not choose), decides who will have control of the distribution of your assets and make financial decisions on your behalf in the event of your death or disability. You can also arrange who will make decisions about your medical care and end-of-life issues, or about who will have legal custody of your minor or disabled children. Properly structured, an...
When you're retired, you'll likely have some financial concerns - just like all retirees. However, if you've invested regularly and followed a long-term financial strategy, you should be able to address most issues that come your way. But there's one important action that's sometimes overlooked by retirees: sharing their financial situation with their grown children. And this knowledge can benefit everyone in your family. You might be surprised by the concern your children have for your...
It's common for buyers to refer to the cash needed to close on a home as "closing costs" or think it is limited to just the down payment amount. The cash needed to close is actually made up of three different categories of expenses. Closing costs, prepaid costs and down payment. In general, closing costs can range from 2% to 5% of the total loan amount. According to analyzed data from the Home Mortgage Disclosure Act (HMDA), comparing the top 10 mortgage lenders in the U.S., using a Mortgage...
Mutual funds offer investors a chance to own shares in dozens of companies, as well as bonds, government securities and other investments. But you might be able to broaden your portfolio further by owning another type of fund - an exchange-traded fund (ETF). An ETF, like a mutual fund, can own an array of investments, including stocks, bonds and other securities. Many ETFs are passively managed in that they track the performance of a specific index, such as the S&P 500. In this respect, they...
The U.S. stock market struggled in 2022, with the S&P 500 index ending the year down more 19.4%.1 The S&P 500, which includes stocks of large U.S. companies, is generally considered representative of the U.S. stock market as a whole, and it is a good benchmark for broad market performance. But there are thousands of smaller companies, and many of those held onto their stock value better during the market conditions of 2022. The S&P MidCap 400, which includes midsize companies, ended the year...
With more than 60% of first mortgages at a rate less than 4%, and more than 80% with rates of less than 5%, it seems like no one would refinance at today's rates in order to gain access to their homes equity, right? The decision to access your home equity is as unique to your situation as your fingerprint, as well as whether to do that with a second loan, or refinance to a potentially higher interest rate. Home equity refers to the portion of a home's value that is owned by the homeowner. It is...
If you save and invest for decades, you'd like to know you can retire without financial worries. Nonetheless, you still have to be aware of some threats to a comfortable retirement - and how to respond to them. These threats include: • Inflation – Inflation has been high recently, but even a mild inflation rate can seriously erode your purchasing power. In fact, with just a 3% inflation rate, your expenses could double in about 25 years - and your retirement could easily last that long. So, if...
As your electric bill continues to grow, we can get you a new roof and solar panels for the same monthly price, with back up batteries! That’s right - no more high electric bills, no more peak hours and a new 30-50 year roof plus solar panels - with back up batteries that you own. Zero down and financing as low as 3.99%. Scan the QR code on this page to get your custom report, or go to www.getsolartoday.energy and scroll down to click on the three easy steps that will explain the process and how easy it is to save money. Call owner Darren S...
With stock and bond markets both faltering over the past year, it's easy to see why more near-retirees have a newfound appreciation for fixed annuities - insurance contracts that guarantee a specified rate of return. A fixed annuity maintains its value regardless of market conditions, and yields on these products have risen in response to the higher interest-rate environment. When you purchase a fixed annuity, you are shifting the risk for future investment returns to the insurance company....
There has been a lot of talk about a "cashless" society, but it's not here yet. In fact, cash can still be a valuable element of your overall financial picture – if you employ it wisely. But how? Consider these four key uses of cash: • Everyday spending – Of course, you need sufficient cash on hand to pay for your cost of living – mortgage, debt payments, utilities, groceries, etc. You'll likely rely on your savings or checking accounts to pay for these needs. • Unexpected expenses and emerg...
Another school year is coming to a close. And if you have young children, they're now a year closer to heading off to college or some other type of post-secondary education or training. So, if you haven't already done so, you may want to start preparing for these costs. And they can be considerable. During the 2022-23 school year, the average estimated annual cost (tuition, fees, room and board, books, supplies, transportation and other personal expenses) was nearly $28,000 for public four-year...
Step-up in basis is the reset in the cost basis of an inherited asset to its fair market value on the date of the decedent's death. Cost basis is what determines the taxes owed, if any, when the asset is sold. Cost basis starts with the price paid for an asset, plus any additional costs added over time to improve or maintain the original asset. Step-up in basis, or stepped-up basis, is what happens when the price of an inherited asset on the date of the decedent's death is above its original pur...
Extensions Whether you file a tax return by the April due date, or obtain an extension to file, filing an annual tax return is mandatory if your income is above a certain level, which will vary depending upon your filing status. Filing an extension will grant you another six months for individuals and corporations (five month extension for partnerships, LLCs, estates and trusts) to file the tax return. Filing an extension, however, will not allow you to delay payment on any tax you may owe. The...
For all residents in California, Net 2.0 Solar will be ending to be replaced with Net 3.0 Metering, which will take over starting April 14, 2023. The important difference between the two systems is Net 2.0 allows you to earn 100% of all power produced by your solar panels, which you get full credit for, through SCE. After April 14, Net 3.0 Metering will only allow you to earn 25% of what you are producing. If you are serious about installing solar panels on your home, the time is now. If you sign up in the next ten days, our goal is to get you...
I know I'm a nag. I nag because it's so important to plan now for your family when you die. It's not that we plan to fail, we fail to plan. So what happens to your children when they inherit the family home that is in a trust? A step-up in basis resets the cost basis of an inherited asset to its market value on the decedent's date of death. Example: Dad dies and has a house that is owned by a revocable trust. He bought the house for $100,000 in 1970 and transferred it to his trust. Dad has died...
By definition, business owners put a lot of their financial resources into their enterprises. But as an owner, you may need to invest in more than inventories and payroll to help achieve the future you've envisioned. Here are a few investments you may want to consider: • Retirement account – Depending on the nature of your business and how many employees you have, you can choose from a variety of tax-advantaged retirement plans, such as an owner-only 401(k), an SEP-IRA and a SIMPLE IRA. By con...
Hard to believe it's been just short of a hundred years since the Great Depression with its run on the banks. Great-grandma hid her money under the mattress rather than exposing it to a rapidly collapsing economy. I do not think this is an issue today, but a better question would be do I put my money in the Stock Market or in a bank with its current high interest rates. A good argument could be made for either strategy. A lot of investors are suggesting now is the time to invest long-term in...
The U.S. stock market struggled in 2022, with the S&P 500 index ending the year down more 19.4%.1 The S&P 500, which includes stocks of large U.S. companies, is generally considered representative of the U.S. stock market as a whole, and it is a good benchmark for broad market performance. But there are thousands of smaller companies, and many of those held onto their stock value better during the market conditions of 2022. The S&P MidCap 400, which includes midsize companies, ended the year...
A reverse mortgage is a term you may or may not be familiar with. The formal name is a Home Equity Conversion Mortgage (HECM). Simply put, it reverses the equity in your home to cover expenses. To understand how it works, it is easiest to compare to a standard mortgage which would be considered a "forward mortgage." In a forward mortgage you make a payment every month. Part of the payment covers the interest charges and part of the payment reduces the balance of your loan, increasing your home e...
Are you a business owner who has wanted to offer a retirement plan to your employees, but you've been stymied by the costs involved? If so, you may be interested to learn about new legislation that can help open the door to the same type of plan enjoyed by employees of large companies. At the end of 2022, President Biden signed into law the SECURE 2.0 Act, which, among many other provisions, provides tax credits for business owners who want to open a 401(k) plan. The tax credit was introduced...
The arrival of spring is always a good time to dust off the cobwebs that have built up in your home during the winter. It's also a good time to clean out and organize your financial records so you can quickly locate something if you need it. Keep only what you need If you keep paperwork because you "might need it someday," your home office and file cabinets are likely overflowing and cluttered with nonessential documents. One key to organizing your financial records is to keep only what you abso...
Taxpayers with one or more qualifying children may be able to claim a tax credit of up to $2,000 per qualifying child. The childcare credit is generally a nonrefundable credit that is limited to regular tax liability plus alternative minimum tax liability. However, a portion of the credit is refundable for certain taxpayers. The refundable portion of the additional tax credit for any qualifying child cannot exceed $1,500. The additional childcare credit is the smaller of 1.) the amount of the ch...
