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IRS Releases 2024 Tax Brackets, Retirement Contribution Limits
The Internal Revenue Service recently released updated income tax brackets, standard deduction, and retirement contribution limits for the 2024 tax year.
Read MoreWhat to Expect When You Hire Your Children
If you are a small business owner, you might be thinking of hiring your children. There are a number of advantages to hiring your children. You are likely considering the opportunity to teach them valuable life skills...
Read MorePensions vs. 401(k)/IRA: Which is Better?
Pensions offer a guaranteed stream of income in retirement, while 401(k)/IRAs require investing and can run out of money. The best option depends on your individual needs and preferences.
Read MoreRoth vs. Traditional IRAs: Could a Blend Be Best
When choosing the best way to save for retirement it is common for people to choose between a Traditional IRA and a Roth IRA . It could make sense to consider the third alternative: a mix between the two.
Read MoreIs ESG Investing Ready for Prime Time?
Environmental, Social and Governance (ESG) investing has become a hot button topic recently. ESG has become the new catchphrase for initiatives that show sustainability, climate consciousness, equality, inclusion, and equity. It can...
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Adult & Teen Challenge Pie Event
Giving back is so important to us at Red Barn Financial. We believe it's essential to help others do better and we all have gifts that we can use to help each other (Romans 12:6).This month we were able to help Adult & Teen Challenge -...
Read MoreTax Season Is Over - Now What?
Have you ever had anyone sneak up on you and scare the heck out of you? Perhaps you jumped, yelled or (hopefully not) hit them unintentionally out of fear. It's happened to all of us - except the hitting part.
Read MoreThe Retirement Crisis - Avoid Becoming a Statistic
At the end of 2021 a study showed that 51% of US households are at risk of not sustaining their pre-retirement income in retirement. You might say that isn’t an issue, because your expenses will be lower. Maybe you don’t...
Read MoreThe Power of Roth- How to Help Your Children get Ahead
People often think of a Roth retirement account just for retirement but it can be so much more than that. Did you know you can help your children get a Roth at a young age? Did you know you can use your Roth as a savings vehicle? What...
Read MoreIt's 1099 Season - What you need to know
It's that time of year again. A new year means the need to prepare for 2022 taxes while you run your business. The goal here is to make sure you connect with your tax professional early and get the forms you need to file out as soon as...
Read MoreThe SECURE Act 2.0 - Did Congress Make Retirement Easier?
A new year is here and so are new opportunities for you to save for your future. During the commotion of the year end, Congress passed what is being dubbed "SECURE Act 2.0" on December 29th.This new law adds new provisions to allow...
Read MoreInheritance - When Giving Equal amounts isn't Equal
It's common for parents to want to give their money to their children in equal amounts. If you have 3 children for example, you may want to leave 1/3 of your assets to each child when you pass away. While the logic makes sense, simply...
Read MoreWhen it's a bad idea to do a Roth Conversion
Most articles explore when you should do something or why you should, but not many talk about when you shouldn't. There are many good reasons to do a Roth Conversion but a few reasons why you shouldn't. In this article I'll talk about...
Read MoreBreaking: Financial Changes and Election Predictions
It's been a pretty volatile month in the stock market but it is looking like things are settling down a bit. I'm making a prediction as to what will happen based on the midterm election, which is only a few weeks away. Check that out...
Read MoreHow we chose our name
After much research and consideration, my family and I came down to Murfreesboro, TN in December of 2020 to look for our new home. We had decided a few years prior that our time in Northern Virginia was soon to come to an end . When...
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