by Silvana Jimenez | Aug 17, 2016 | Blog
Meet Michael Lubin, one of our KDA top accountants. He has recently become part of our family and KDA could not be happier to have him as part of our team. Michael is known for always striving for excellence and contributing to KDA standards with his work ethic. Get to know Michael a little more through this interview Where did you grow up? I grew up in the Inland Empire. I spent my younger years in Norco and the remainder were spent in Riverside. What let you to becoming a CPA? Majoring in accounting in college and later on getting a job with a CPA firm in Irvine. What skill would you like to learn and why? Right now, it’s how to do taxes with the Ultra-tax. What was your first ever job? A part-time job with a family business. I did invoicing for them. I was probably 19 then when I got that job. I only had to work a few hours a day which was pretty cool. The Powerball jackpot is around $400 million right now. What would you do with this money if you won? read...
by Silvana Jimenez | Aug 15, 2016 | Blog
You are legally required to carry insurance for your vehicle, but this doesn’t mean you should overpay for your coverage. The monthly premium your insurance provider charges is a recurring expense that will impact your budget, so it’s important to look for an affordable option. It is possible to purchase the kind of coverage you need, protect your vehicle, and save money if you take the time to shop around and select the right provider and policy. Start by finding out more about how much insurance you’re required to carry. There are laws specific to each state regarding how much coverage you need. read...
by Silvana Jimenez | Aug 8, 2016 | Blog
Saving money isn’t always exciting, but a rainy-day fund is imperative to your financial health. It only takes one unexpected expense to topple your finances. The lack of an emergency fund can result in taking on additional debt or not being able to pay for a critical expense, like your child’s braces. There are several reasons you might require a rainy-day fund: Medical bills. It’s no secret that medical care is outrageously expensive in the United States. A simple out-patient operation, like a hernia repair, might only take 30 minutes. But it can easily cost $15,000 or more. How long would it take you to pay back $15,000? Even if you have insurance, you might still be on the hook for a deductible of several thousand dollars. Automobile repairs. Once the warranty has expired, your automobile has the potential to become a financial disaster. Once you’re no longer making an automobile payment, continue making the payment to yourself. Save the money for future repairs or your future automobile. At some point, all cars become more expensive to fix than they’re worth. Ensure that you have the funds in place to minimize the amount of debt necessary to obtain a new car. Currently, 10-12% of us will be without a job at some point in the next 12 months. Over the course of a lifetime, the number is much larger. Could you survive for at least 6 months until you find another job? What would happen to your family, home, car, and insurance? Major home repairs. Replacing a roof, a/c unit, furnace, repaving the driveway, or replacing appliances can...
by Silvana Jimenez | Aug 3, 2016 | Blog
It’s not as easy as it once was to get a home loan. Government regulations due to the recent housing crisis are the primary culprit. The requirements are more stringent than they were 10 years ago. Debt-to-income ratio requirements are much tougher than in the past. It’s more challenging to get a mortgage, but not impossible. Make your mortgage application more likely to be accepted: Have a down payment. The less money you need to borrow, the better your odds of being approved. The larger your down payment, as a percentage of the sales price, the more comfortable the bank will feel. Banks would much rather loan 70% of the value of the home than 95%. If your income or credit are less than impressive, a larger down payment can make a huge...
by Silvana Jimenez | Jul 25, 2016 | Blog
Determine why you want or need a trust fund. Depending on your needs, the trust fund process can change. You don’t need a high income with a large number of assets to benefit from a trust. Trusts can be an important part of your financial plans and useful tools for planning your inheritance. Consult an attorney or financial expert for how a trust could benefit you the most in your...
by frank | Jul 18, 2016 | Blog
1. Understand the data collection. Prepaid cards may resemble credit and debit cards, but the application process is different. • Before you can get a prepaid card, you may have to provide sensitive private data that you might not want to share for just a prepaid card. You may have to provide your name, address, Social Security number, phone number, and other...
