What an extension does: Gives you an additional six months to file your tax return (usually until October 15th). Helps you avoid late-filing penalties if you can't meet the original deadline. What an extension DOESN'T do: Give you more time to pay any taxes you owe. Those are still due on the original deadline (typically April 15th). Protect you from interest or penalties on unpaid taxes. Bottom line: An extension is great if you need more time to gather documents or complete your return. But don't confuse it with extra time to pay - estimate your tax due and pay it by the original deadline to avoid extra costs. #shorts #taxes #taxextensions #taxfiling Follow me @DaveKnowsMoney Pulse Wealth is a Registered Investment Advisor

Saving for your little one's future? You've got options! Two popular choices are 529 plans and UTMA accounts. Which one's the best fit? Well, that depends on what you're hoping to achieve. 529 Plans: The Education-Focused Powerhouse Tax Perks: Your money grows tax-free, and you won't pay taxes on withdrawals as long as they're used for qualified education expenses. That's a win!   Stay in Charge: You keep control of the account, even after your child becomes an adult. Financial Aid Friendly: These accounts have less impact on financial aid eligibility, which is a big plus. Flexible for School: Use the funds for a wide range of education expenses, from tuition to room and board, and even some K-12 costs. UTMA Accounts: The Flexible All-Purpose Fund Freedom to Choose: Use the money for anything – not just education. Ownership Transfer: Your child takes control of the account when they reach the age of majority. Financial Aid Impact: Keep in mind, these accounts can have a greater impact on financial aid eligibility. Tax Considerations: Earnings might be subject to taxes. So, Which Path is Right for You? 529 Plan: If your main goal is saving for education and you want tax benefits and control, this is a great option. UTMA Account: If you're looking for more flexibility and aren't as worried about tax breaks or financial aid, this could be the way to go. #shorts #collegesavings #529 #UTMA Don't forget to follow me! @DaveKnowsMoney Pulse Wealth is a Registered Investment Advisor

Three Things to Level Up Your Finances in 2024 1. Embrace Automation: Automate your savings and bill payments. This ensures consistency, reduces the risk of late fees, and frees up mental space to focus on bigger financial goals. Consider automatic transfers to a high-yield savings account or investment platform each month 2. Review and Renegotiate: Take a close look at your recurring expenses. Can you get a better deal on your internet, insurance, or cell phone plan? It's amazing how much you can save with a few phone calls or online comparisons. 3. Invest in Yourself: Whether it's a professional development course, a side hustle, or improving your financial literacy, investing in yourself can lead to greater earning potential and long-term financial stability. Don't underestimate the power of compounding knowledge and skills. #personalfinance #highyieldsavings #sidehustle #financialliteracy Follow me and Pulse Wealth is a Registered Investment Advisor

Employer stock options give you the right to buy company stock at a set price in the future. Think of it like a coupon for your company's stock! Key Points: Attract & Retain Talent: Companies offer them to incentivize employees. Vesting: You earn the right to exercise options over time, usually several years. Exercising: Buying the stock at the grant price (requires cash). Expiration: Options have an expiration date. Potential Benefits: Big Upside: If the company does well, you can buy shares at a discount and profit. Potential Risks: Company Performance: If the stock price drops, options may be worthless. Taxes: You may owe taxes when exercising options. Remember: Understand the terms of your grant. Consider options as part of your overall compensation. They can be valuable, but come with risks. Factor them into your financial plan. #stockoptions #ISOs #NSOs #vesting Pulse Wealth is a Registered Investment Advisor