5 Tips to Prepare for GOP Tax Bill

Significant tax changes are being discussed in Congress. If approved, these will take effect in 2018. Many deductions may be eliminated. Whi

Should You Follow These Four Money Rules of Thumb?

Rules of thumb help us make quick decisions without having to consult an expert. But as the definition suggests, it is not reliable for every situation. Below are four financial rules of thumb and when you may or may not want to follow it. 1) Homeownership Rule: Pay at least 20% for down payment. Ideally, yes, so you don’t have to pay mortgage insurance, which could be a couple of hundred dollars a month. But a 20 percent down payment can be difficult to save for. If you’d like to buy a $400,000 townhouse in Gaithersburg, we’re talking about an $80,000 down payment. Maybe if you live with your parents and not pay rent for several years, you can save this much. A 10 percent down payment may

How New GOP Tax Plan May Affect You

*Note that this is based on the proposed House tax plan. It has not yet become law, and is subject to change as the House and Senate reconcile differences to their respective bills.

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