The Gerri Willis Podcast Fox News

Welcome to Rich is Not a Four-Letter Word, the podcast for your wallet. I’m Gerri Willis with the Fox Business Network. Tax Day 2019 is fast approaching and this year, more than ever, you’ll want to take special care with your filing as this is the first year that tax reform takes effect. Kathy Pickering, executive director of the Tax Institute at H&R Block, says tax filers should be prepared for many changes.



First off, tax rates were lowered across the board in every tax bracket. New marginal tax rates go from 10%, 12%, 25%, 28%, 33%, 35% and 39.6% to 10%, 12%, 22%, 24%, 32%, 35% and 37%. Check out https://taxfoundation.org/2019-tax-brackets/ for bracket details.Here are the takeaways:
While many people were looking for a big refund, the reality is that refunds are about on par for a normal year. If you failed to change withholding to account for the tax rate changes, however, you could find yourself owing money to the federal government rather than getting that refund, she says. Pickering said it was easy to overlook the difference in income because the savings were spread out over the course of the year. A secondary goal of reform was to encourage filers to complete the short form rather than taking deductions. Any reliable tax software package can help you decide whether to skip the long form.
Small business owners should be sure to take advantage of a new 20 percent deduction on qualified business income. Business owners with 2018 income below $157,500 if single or $315,000 if married and filing jointly may qualify.  The tax break applies to owners of “pass-through” entities, including sole proprietorships, S-corporations and partnerships.
Finally, Pickering suggests watching the details of your filing. Avoid simple mistakes like failing to sign your form, or getting the incorrect names or social security numbers for members of blended families.

If you can’t make your payment in full, file for an extension using IRS form 4868. This will give you until Oct. 15 to file, but even so, you’ll have to make at least a partial payment on your tax bill.

H&R Block research, she says, shows that anxiety associated with tax season runs high. That may be why respondents in an H&R survey said their favorite companion when filling out tax forms is a glass of wine.

Take a listen to the podcast! Follow me on Twitter @gerriwillisFBN and on Facebook, where my handle is GerriWillis. You can also find me on Instagram at Gerri_Willis.

Bottom line, I want to hear from you! What money issues do you want to explore? Tell me and we will get it on the podcast. Have a great day and remember, Rich is NOT a Four-Letter Word!
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Welcome to Rich is Not a Four-Letter Word, the podcast for your wallet. I’m Gerri Willis with the Fox Business Network. This week golf history will be made as the inaugural Augusta National Women’s Amateur event gets underway at Augusta National , the home of the season-starting PGA major, the Master’s Golf Tournament. It will be the first time Augusta’s famed park-like setting will be home to a women’s competition. It’s been just seven years since the club allowed women as members.



Augusta is hosting 72 women ages 14 to 24 and representing 25 countries vie to win the 54-hole tournament. Competition will start at the Champion’s Retreat course and the final round is scheduled for Saturday on the course that hosts PGA legends. The event featured reprises of some of the classic events that made the men’s event famous, a Drive, Chip and Putt Championship as well as an opening tee shot ceremony. That event for the men is typically hosted by Gary Player and Jack Nicklaus, but the women’s event will be hosted by champions Annika Sorenstam, Nancy Lopez, Lorena Ochoa and Se Ri Pak.

Lopez, a winner of 48 LPGA tour events and three championships, said, “What an honor. The best players from all over the world are playing there. It’s just a fantastic event for these young women.”

Tournament contenders and amateurs, Sierra Brooks and Maria Fassi, said they were excited to participate in the inaugural event. Fassi said the tournament will be transformative not just for women’s golf but for all of the sport.

Take a listen to the podcast! Follow me on Twitter @gerriwillisFBN and on Facebook, where my handle is GerriWillis. You can also find me on Instagram at Gerri_Willis.

Bottom line, I want to hear from you! What money issues do you want to explore? Tell me and we will get it on the podcast. Have a great day and remember, Rich is NOT a Four-Letter Word!
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Welcome to Rich is Not a Four-Letter Word, the podcast for your wallet. I’m Gerri Willis with the Fox Business Network. Ellen Latham is the co-founder  of Orangetheory Fitness, the highly successful gym franchise that is taking the country by storm. Latham, an Exercise Physiologist, is attempting to help members remake their bodies from the ground up to be healthier and better off. I spoke with her recently about building the business.

Here are the takeaways:
Focus on what you have, not what you don’t have. Starting the business was equal parts desperation and inspiration for Ellen, who started pursuing her own business after she was let go from a high-end Miami Beach gym, where she was manager. When that happened her father told her to focus on what she could do and what she had, and she soon got back into the fitness mix offering her own Pilates class.
Start simple. At first, Latham was looking to develop a workout that she could offer a small number of clients. In the early years, she didn’t even dream of starting a company that would ultimately have 1200 franchised locations and a high profile around the country.
Don’t just show up. Go out to perform the best you possibly can in everything you do.

Take a listen to the podcast! Follow me on Twitter @gerriwillisFBN and on Facebook, where my handle is GerriWillis. You can also find me on Instagram at Gerri_Willis.

Bottom line, I want to hear from you! What money issues do you want to explore? Tell me and we will get it on the podcast. Have a great day and remember, Rich is NOT a Four-Letter Word!

 
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Welcome to Rich is Not a Four-Letter Word, the podcast for your wallet. I’m Gerri Willis with the Fox Business Network. This week, I’m talking to Rob Franek, Editor-In-Chief of the Princeton Review, about the college admissions scandal.



Prosecutors announced that 50 people took part in a scheme that involved cheating on standardized tests or bribing college coaches and school officials to accept students as college athletes even if the student never played that sport. Two Stanford University students have also filed a federal lawsuit seeking class-action status against the universities named by prosecutors. Franek, who counsels students and parents about how to gain admission to highly competitive Ivy League schools, described the scandal as “despicable and deplorable.”Here are the takeaways:
If you’re the parent of a student applying for admission for next fall, don’t despair. Seventy percent of the three million students applying for admission will get into their first-choice school.
Statistically, college grads earn two million dollars over the course of their careers – much more than non-grads. What’s more, college grads have lower rates of unemployment.
Watch for college admissions administrators to provide more clarity and transparency into admissions protocols. There will be changes to the systems to make sure such cheating cannot happen again.

Take a listen to the podcast! Follow me on Twitter @gerriwillisFBN and on Facebook, where my handle is GerriWillis. You can also find me on Instagram at Gerri_Willis.

Bottom line, I want to hear from you! What money issues do you want to explore? Tell me and we will get it on the podcast. Have a great day and remember, Rich is NOT a Four-Letter Word!
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Hello and welcome to Rich Is Not a Four-Letter Word, the podcast for your wallet.  I’m Gerri Willis with the Fox Business Network. Today my special guest is Veronica Dagher, Wall Street Journal wealth management reporter and the host of the podcast, Secrets of Wealthy Women, a series of fascinating conversations with successful women talking about how they made it and how they manage their money.

Here are the takeaways:
Financially successful women take an active role in their finances. They know what they own and what they owe.
No one is going to pick you out and make you a star – you have to put your hand up and be able to ask for what you want.
Another thing that really differentiates these women is that when they fall down, they get back up.

Take a listen to the podcast! Follow me on Twitter @gerriwillisFBN and on Facebook, where my handle is GerriWillis. You can also find me on Instagram at Gerri_Willis.

Bottom line, I want to hear from you! What money issues do you want to explore? Tell me and we will get it on the podcast. Have a great day and remember, Rich is NOT a Four-Letter Word!
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Welcome to Rich is Not a Four-Letter Word, the podcast for your wallet. I’m Gerri Willis with the Fox Business Network and today I’m talking with Tom Zgainer, CEO and founder of America’s Best 401(k) about market volatility. What should retirement savers and 401(k) investors do when the market posts big swings? And, how can you identify the fees and costs that are robbing your precious savings?



Zgainer knows a lot about this because his company advises small business about how to set up high quality retirement programs. Most small business operators don’t have the time or interest in fully vetting retirement programs and that is where America’s Best 401(k) comes in.

Zgainer advises that savers who aren’t close to retirement — more than five years away — should forget the noise. And, everyone should continue investing, no matter what. Remember, if the market tanks, you’re buying assets on sale; always better than overpaying.

Two things are critical for small investors, he says. Start early and make sure your costs are low.  He says that an investor who starts saving at age 25 and only continues saving for 10 years will have more money at retirement than someone who starts saving at 35 and saves til 65. Giving your money time to grow is essential.

Reducing costs is also key. He says that 70 percent of participants in 401(k) plans believe they pay no investment related fees. That, says Zgainer, is wrong. To find out what your plan is charging, go to the providers’ website and get a copy of the fee disclosure. Even easier, check out the website Zgainer shares on the podcast to find out — pronto — if you are overpaying!  

Take a listen to the podcast! Follow me on Twitter @gerriwillisFBN and on Facebook, where my handle is GerriWillis. You can also find me on Instagram at Gerri_Willis.

Bottom line, I want to hear from you! What money issues do you want to explore? Tell me and we will get it on the podcast. Have a great day and remember, Rich is NOT a Four-Letter Word!
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