Financials

If you have a student you claim as a dependent currently attending college, I have some great news for you. There are two education tax credits available for higher education namely: The American Opportunity Tax credit Lifetime Learning Credit The cool things about credits is that they directly reduce the amount of tax you owe. However, if you are eligible for both you can only take one. You cannot claim

In accounting, opportunity costs are the potential benefit given up when choosing one choice over the other. Opportunity costs are relevant to future decision making and should not be ignored while making important decisions. Life is filled with many choices. Every choice has a cost associated with it and we must carefully consider the economic value of the forgone alternative. For instance, if you are taking a two week vacation

In accounting, sunk costs are costs that have already happened. They cannot be changed with any current or future actions. Sunk costs are called irrelevant costs because they are irrelevant to future decision making. However, I find this principle so applicable to our everyday life. Even though it is an accounting concept people will make much better decisions if they knew how to apply the principle of sunk costs. I

One thing I find amazing about life is that it is filled with opposite's action which combine to get a positive result. An example that relates to this article is: Exceptional results are an accumulation of ordinary actions. Take a second and think about that: We all want exceptional results in our life but we do not get there overnight. It is the little ordinary steps that we take every

I have a very good friend that recently passed away from cancer: She was very young. I remember going shopping with her after her condition had become really bad and she was beginning to suspect the end was near. I was shopping for a jacket and being the very price conscious customer that I am I chose a jacket I found to be okay but had the right price. My