All you need to know about 2025 Tax Adjustments to Premiums, COLAs, Brackets and Thresholds
Stay ahead of 2025 tax adjustments that impact your savings, taxes, and employee benefits.
December 6, 2024
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Category: General Planning
About Me
Quentara Costa, CFP®
Quentara Costa helps the sandwich generation prioritize kids, self, and aging parents. For years Quentara was the primary caregiver for her father who was diagnosed with Alzheimer's at the age of 70. Since his passing, she’s become a mother of three. Professionally she received a master’s degree in Personal Financial Planning from Bentley University and has held the CFP® designation since 2010. Community involvement includes hosting the Merrimack Valley Senior and Caregiver Group and volunteering for Budget Buddies.
Understanding New and Ongoing FinCEN and BOI Reporting Requirements
This blog provides an overview of FinCEN and BOI reporting requirements, highlighting why compliance matters and offering practical advice for businesses and individuals. By staying informed, you can protect yourself and your business from regulatory issues while supporting broader efforts to combat financial crimes.
October 2, 2024
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How buying real estate changed on August 17th
Buyers will now be implored to negotiate terms with their agent vs depending on the seller’s contract. The change has been described as great, terrible, a minor shift and everything in between. Time will tell, but understanding how this can help or hurt you in your next transaction is step 1!
August 21, 2024
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Is Pet Insurance Worth the Cost? Pros, Cons, and Alternatives Explained
Discover if pet insurance is worth the cost and right for your family. Explore the pros and cons, factors to consider, and alternatives to help you make an informed decision for your pet’s health and your financial peace of mind.
July 8, 2024
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Inherited Wealth: Understanding it’s Limitations and Leveraging a Financial Planner
Correctly managing inherited wealth requires careful planning and a healthy dose of self-awareness. Working with a financial planner can help you make high-value choices.
April 4, 2024
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New Year’s Resolutions for The Sandwich Generation
In reflecting on my New Year’s Resolution, there were repeated themes this year that I hope to incorporate into my life to maximize my Sandwich Generation efforts vs feeling encumbered with an unattainable goal. I’m sharing my conclusions with the hope that you start 2024 with an energized mindset.
November 7, 2023
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Guide to flood insurance: Here’s what to know
Last year the Northeast experienced a drought. This year my town had multiple floods wreaking havoc on both residents and businesses. While most people are trying to offload their bank required flood insurance to save on cost, you may be wanting to sign up ASAP in light of recent events. But is the premium worth it? More importantly, are you eligible to get it based on your zoning? Read more from BankRate.com.
September 13, 2023
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Financing options in a high-interest rate environment
One of the most frequently asked questions I’m receiving these days is related to paying off debt and financing options. Gone are the days of a 2.5 – 3.5% mortgage. Whether it be for a home purchase, improvement, car, or business venture, here are some options to consider if you’re looking for financing.
July 24, 2023
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Relocating due to LGBTQ Health, Education, and Saftey Concerns
8 steps to help with financial planning as you consider an LGBTQ-motivated relocation. Plus info from ACLU and Wallet Hub on related state-by-state law proposals and tax burdens.
June 5, 2023
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The Ultimate Downsizing Checklist Before Retiring
While the process of downsizing can be emotionally and physically challenging, it can also be liberating and rewarding. To help you navigate this transition, we’ve compiled a comprehensive checklist for downsizing your home.
May 9, 2023
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Understanding FDIC in light of the Silicon Valley Bank failure
What any bank depositor should know about Silicon Valley Bank and their own FDIC coverage.
March 13, 2023
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From Layoff to Takeoff: How to be Prepared for your Next Adventure
There are SO many articles about layoffs and jobs being left unfilled. It makes you think about your own preparedness in the event of job loss. Here’s my game plan for helping you go from layoff to takeoff.
March 1, 2023
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The History and Business of Valentine’s Day
About half of U.S. adults plan to celebrate Valentine’s Day this year, spending a total of $25.9 billion!
February 14, 2023
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The SECURE 2.0 Act – For Workers
SECURE 2.0 is primarily meant to strengthen Americans’ ability to retire by enhancing savings options. For workers, this means automatic enrollment in retirement plans, enhanced matching, and flexibility to use savings for emergencies.
January 30, 2023
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Ahhh it’s Year-End! What do I need to do before 12/31?
It’s time to make sure you’re financially accounted for before the new year rolls around. It may be maxing out HSA and retirement plans, settling debt, or holding realistic assumptions about your spending habits. Here is a full list to consider tackling.
December 7, 2022
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All you need to know about 2023 Tax-Related Adjustments to Premiums, COLAs, Brackets and Thresholds
There have been so many recent announcements related to 2023 adjustments, let’s just tackle them all together!
October 27, 2022
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Is a Roth IRA Right for You?
Do Roth IRAs make sense from a tax perspective? The first question may not be whether it’s “right” for you, but whether you’re eligible to even open one at all. That’s where Roth Conversions come into play.
October 5, 2022
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How to Capitalize on the Inflation Reduction Act of 2022
Solar panels, corporate taxes, and Medicare prescription drugs – oh my! Read the highlights of Biden’s latest bill.
September 5, 2022
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Are Solar Panels a Worthwhile Investment?
With the cost of gas and electricity skyrocketing in the past year, many households are looking to clean energy alternatives.
June 13, 2022
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Does increasing mortgage rates make the prospect of buying a home better or worse?
The housing market has been frustrating for buyers, but there are signs that those frustrations might be easing.
May 3, 2022
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Set to Jet? 5 Useful Tips Before Packing Your Bags.
Wondering how to prepare for travel apart from packing a bag? Here is the shortlist of what I did to ensure myself, family, and clients would be taken care of in case of an emergency.
April 6, 2022
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How to have a financial conversation with your partner
Despite it being no secret that money can cause a breakup, being on the same page about finances is not usually considered at the start of a relationship.
February 3, 2022
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New Year, New Me – Financial Resolutions 2022
Cleaning up personal finances remains one of the top resolutions every New Year. But we all know what happens to most such self-promises, so here’s a month-by-month to-do list to cultivate better financial health.
January 4, 2022
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We Could See a Student Loan Pandemic in 2022
With the CARES Act expiring in January 2022, many will be asked to resume student loan payments – but can they afford to pay?
January 4, 2022
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Will my cash app and marketplace transactions be reported to the IRS?
Will cash app and marketplace transactions be reported to the IRS? For many more than ever before – yes!
January 3, 2022
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Is the Roth 401(k) an Option for You?
Have you seen a Roth option available in your 401(k)? Read on to help determine if it’s the right option for you.
November 15, 2021
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Will all my transactions soon be reported to the IRS?
Will cash deposits above $600 soon be reported to the IRS? Technically no, but for some effectively yes.
October 17, 2021
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Can insurance companies charge the unvaccinated higher premiums?
Given the average cost of a COVID-19 hospitalization in 2020 ran about $42,200 per patient, will the unvaccinated be asked to bear more of the cost of treatment, in terms of insurance, as well?
August 21, 2021
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What charitable deductions look like in 2021
Charitable donations create charitable deductions which dollar-for-dollar reduce your taxable income. Special legislation in 2020 and 2021 benefits even those taking a Standard Deduction.
July 20, 2021
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6 Tips to Spring Clean Your Finances
It’s officially Spring, and your closet may not be the only thing that needs a good clean-out. What about your financial habits? Watch my video on how to fix up your finances.
April 2, 2021
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What’s In The $1.9 Trillion Stimulus Package?
President Biden’s $1.9 trillion stimulus package cleared its final hurdle in Congress on Wednesday despite no Republicans voting in favor of it. The plan contains a range of measures such as a further direct round of payments to most Americans, amounting to more than $400 billion.
March 14, 2021
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2 Pieces of Savings Advice to Reconsider
We can get tunnel vision when it comes to following “Rules of Thumb.” I dare you to push back when it comes to maxing out 529 Plans and 401(k)s.
February 4, 2021
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What Can the Best/Worst Stocks of 2020 Tell us?
The 2020 performance for the major U.S. indices was nothing short of impressive, especially given the headwinds of COVID-19 and the drama surrounding the presidential election.
January 12, 2021
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New Year, New Me – Financial Resolutions
News Years Resolutions – In bite size pieces Cleaning up personal finances remains one of the top resolutions every New Year. But we all know what
January 1, 2021
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Elder Care and College Planning Can Create a Sticky Situation for The Sandwich Generation
Commonplace strategies for helping an aging parent can blow up in your face if you have a college-bound child. Read how.
December 9, 2020
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How tax planning may be impacted after the election
Read about how tax planning opportunities could change in the coming years due to the upcoming election.
November 3, 2020
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How the S&P500 fairs after an Election Year
Everyone is asking – how will my goals be impacted by the upcoming election? When it comes to the stock market, elections matter less than
September 20, 2020
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Where to put your next dollar
Your checking account is at an all time high and you’re eager to do something more with your money. Anything has to be better than
May 8, 2020
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Hidden Gems inside the CARES Act
Apart from stimulus checks, small business loans, and expanded unemployment, there are a few “hidden gems” sprinkled throughout the CARES Act that are worth noting.
April 20, 2020
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The Markets and Coronavirus
What’s happening? The last couple weeks have certainly been rough on everyone. Stock markets across the world have been on a downward spiral with bouts
March 13, 2020
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401(k) Loans: Pros and Cons
If you are in a cash crunch, you might consider taking out a 401(k) loan. But before you do, you should know the rules and
February 4, 2020
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Think S.M.A.R.T
A fellow blogger liked my approach to personal finance by making S.M.A.R.T goals. Read how she implemented this into her life and own blog! https://doingthingsdifferent.net/saving-money-think-s-m-a-r-t/
November 18, 2019
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Hindsight on Real Estate
My husband and I have had the fortune (or maybe misfortune?) of being involved in a number of personal real estate transactions. From inherited, residential,
July 19, 2019
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What to know before taking out a Home Equity Line of Credit
It’s important to understand the fine print of your home equity line of credit (HELOC). Make sure not to get swept up in your plans
June 10, 2019
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The Unexpected Cost of Early Retirement
While success can be defined in a multitude of ways, most boil down to one simple desire – financial freedom. So what happens when a
May 31, 2019
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Who Should Prepare Your Taxes?
This year I had many families and small business owners asking for CPA recommendations. Surprisingly, the recent tax code changes that were meant to simplify
April 12, 2019
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Becoming a Better Negotiator
Negotiating is a critical life skill to master, but yet it’s largely untaught in a traditional school setting. We encounter negotiating everyday. Whether closing a
February 13, 2019
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Experts weigh in: Here’s when you should reach key financial milestones
Maybe you have an idea of when you’d like to buy your first home or retire from the workforce. But just how realistic are your
August 14, 2018
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How you can help your contractor during renovation
Does working alongside your contractor help or hurt? Renovations are something most home owners endure either by choice or necessity. Due to lack of skill and/or
April 26, 2018
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The Taxing Effects of Selling Your Home
Because of the generous capital gains exclusion on selling a primary residence, you may find that you do not owe Federal taxes when it comes
March 29, 2018
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Can I sell my collectibles without losing 50% of their value?
As my husband rolled coins the other day he started muttering about the value of wheat pennies and who’s actually buying these as collectibles. I start
February 20, 2018
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Should I sell product as my side hustle?
Powwow, LLC was interviewed by Mental Floss to discuss common client mis-steps. The article positioned my response as being “annoyed” by my clients’ indiscretions. This
January 29, 2018
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Is Genetic Testing a Good Idea?
During the recent holiday season I was peppered with advertising promoting the idea of gifting DNA and ancestry kits. I’ll admit it, I’m terrible at
December 11, 2017
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Forms of Business Ownership
Inspired by a question in the North Andover Mom’s Facebook Group! As a business grows from a hobby or planned venture, it’s important to put
December 4, 2017
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Evaluating Credit Cards
A credit check for credit cards… When you apply for a credit card you are required to fill out a credit history. The analysis of
November 15, 2017
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How to Set Financial Goals
How do you define success? Nerd Wallet published an article on the importance and strategy behind goal planning. For the most part, this is the
April 25, 2017
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DOL Fiduciary Ruling Delayed
The DOL fiduciary ruling set to launch in April requiring that advisors act in a consumer’s best interest has been tentatively delayed until June 9,
April 25, 2017
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Long Term Care Insurance
Is it worth considering? Age 50-60 has traditionally been the sweet spot for reviewing long-term care insurance options. New research is even indicating that the
March 29, 2017
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Having issues moving forward with a big decision?
When opportunity knocks, do you answer the door, or complain about the noise? Take some time this week to consider ALL your options, not just
December 2, 2016
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Adding a fiduciary to your benefits roster
“Growing businesses are highly motivated to attract and retain newer team members who are driving the day-to-day business. While these employees may not have accumulated significant wealth, they still
September 22, 2016
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A Candle Loses Nothing by Lighting Another Candle
A candle loses nothing by lighting another candle. Over the weekend I came across this quote by James Keller and absolutely loved it. What a
September 20, 2016
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Big Purchase
Ahhh, the end of summer. So many clients with stories about their fabulous vacation, and they’re having a hard time accepting it’s over. They come
September 13, 2016
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Newborn Considerations
Congratulations!! Now let’s get down to business. There is often so much excitement, joy, and preparation for the baby’s first week home that we can
September 13, 2016
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Why would I work with a Robo-Advisor?
Robo or Real? Robo-advisor is a term I come across multiple times a day and there are no shortage of opinion on whether they’re an
August 20, 2016
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What’s a…fi-doo-shee-er-ee??
A fi-doo-shee-er-ee, or fiduciary in common English, is one of the most important considerations in choosing a financial planner. Don’t believe me? You should, because even entertainment media is
August 20, 2016
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