Welcome to our series on exercise. In the first part, we’ll take a look at whether you should get the kiddos involved in sports. It’s a question every parent will consider at some point in time. With organized group sporting events all being cancelled right now, we have plenty of time to think about it. There are many reasons to look into it, even if you don’t think your child will turn into the next NBA superstar. 

The first reason is also the most obvious. Exercise is good for us. Getting out and getting active can lead to a lifetime of good health. Regular exercise is also a habit, and the best time to learn a habit is when we’re young. Think about how you can get your kids to be active now, even when we are all staying home. 

Playing sports also teaches us how to cooperate with others. Humans are social creatures, and how well we work with others will go a long way in determining how successful we are in life. Among other things, playing sports teaches us teamwork, communication and empathy for others. Many of the same skills that make us a successful member of a project team as adults are learned on the athletic fields we run around on as kids.

There are other valuable lessons we can learn from participating in sports, such as working towards a common goal and how to handle setbacks. No matter how good we are, we won’t always win. We’ll suffer disappointment and defeat along the way, just as we do in life. Sports can teach us positive ways to overcome these challenges.

Whether you allow your child to participate in organized sports will depend on both you and your child. Sports aren’t for everyone, and you’ll have to consider you own time commitment as well. However, for many kids the benefits far exceed the drawbacks, and there’s no substitute for good health.

The one certainty in life is that things don’t always go as smoothly as planned. For many of us, April 15^th, known either famously or infamously as Tax Day, is the perfect example. But even with the three-month extension, if things aren’t going your way on this return, there are always lessons to be learned for next time. 

Watch your withholdings. If you work for someone else, your tax withholdings from your paycheck will go a long way in determining whether you receive a refund or owe a balance. Keep careful watch throughout the year, and don’t be afraid to make changes if you don’t like what you see.

Carefully track your expenses. If you’re in business for yourself, make sure to keep tabs on your expenses. Know what expenses you can and can’t deduct and keep good records. If the IRS takes an unhealthy interest in your business, those records are your best defense.

Plan for your retirement. Even if you’re young, there’s no time like the present to get started. Most retirement plans rely on the multiplicative effect, meaning the earlier you invest in a good plan, the more time your money has to grow. There are also tax benefits. The money you put into most retirement plans is tax deferred. So, the more you put in (up to certain limits), the less tax you’ll pay next year. It really is a win-win.

Even if the results on this tax return leave us with a bad case of the spring blues, there’s no reason we have to put up with the same thing next year. Keep these tips in mind, so you can celebrate Tax Day with a song in your heart.

Easter may be a little bit different this year. But, the grass is beginning to turn green again. Trees and flowers are budding. Those songbirds have something to sing about—Spring! And there’s no better time to celebrate the warmer weather than having a good old-fashioned Easter egg hunt with your family this holiday. Of course, with our social distancing orders in full force, this means immediate family!

A traditional egg hunt—hiding plastic candy-filled eggs for the children to find—is still great entertainment, even if it is just you and your kids. Now let’s give it a healthier twist by hiding strips of paper with “eggs-ercises” printed on them! The links at Eats Amazing and Alice & Lois have printable activities to get you started.  

If the idea of plastic eggs turns you off, ParentMap has some ideas that could easily be done without the polymers. Pirate-themed scavenger hunts, dinosaur digs, or a top-secret mission hunt could become new annual traditions at Easter.

Leave it to Martha Stewart to come up with an indoor alternative for small children using homemade candy cups. 

Easter is the perfect occasion to get the family moving about, to inspire new traditions, and to get those memorable videos and photos.  

Happy Easter!

When it comes to planning for retirement, many people mistakenly believe that their Social Security benefits won’t be taxed. It’s an easy assumption to make. After all, they paid into the system for years. Why should they have to pay tax on money they already had deducted from their check? Unfortunately, the government doesn’t see it that way. There are many situations in which Social Security benefits may be taxable.

When people say their benefits aren’t taxable, it’s sort of a half-truth. Technically, these retirement benefits aren’t taxed at the federal level (although they may still be taxed at the state level). In other words, if the ONLY income you received during the year was from Social Security, then you won’t have to pay tax. However, like many household chemicals which are harmless by themselves but can become deadly poisons when mixed with other chemicals, Social Security benefits may be taxable if combined with other income, such as a part-time job or a pension. Depending on your overall income from Social Security and other sources, your benefits may be taxable up to 85 percent. This article from SmartAsset provides a great summary of how state and federal taxing authorities deal with Social Security benefits. 

Retirement can be a great time of life, a chance to enjoy the hard-earned fruits of your life’s labors. However, it does require careful thought. Don’t overlook the tax consequences of your Social Security benefits when you’re making your retirement plans. 

If you’re like many of us, the idea of paying taxes isn’t particularly appealing. Some people just don’t want to be bothered with it, while others believe the whole idea of an income tax is unconstitutional to begin with. The legality of the income tax was established with the ratification of the 16^th Amendment in 1913. Whether you need to file is another matter. In some cases you might not. This interactive tool from the IRS can give you an idea. 

If you do expect to owe a balance, know that a tax liability only gets worse with time. To begin with, the IRS can assess a failure to file penalty of 5 percent as well as add a levy of another 5 percent of any unpaid balance for every month or part of a month that the return remains unfiled and unpaid. It can add up pretty quickly!

The IRS isn’t going to kick in your door on April 16th if you don’t pay your taxes. Long before that you will receive a series of increasingly ominous letters. Ignoring these letters is where taxpayers get into trouble. You’ve probably heard about the IRS placing a lien against taxpayer’s future earnings or even seizing their property or bank accounts. These extreme measures are usually the result of putting off your tax obligations.

Remember that the IRS will never call you, so if you do receive a threatening phone call from someone claiming to be from the IRS, it’s a scam. If you receive a letter from the IRS, make sure to respond to it promptly. If you’re unsure as to what steps to take, consult a qualified tax professional. Take care of any liabilities as soon as you can. No, it won’t make your tax bill any easier to swallow, but it will save you a lot of trouble in the long run.

Begosh and begorah! Saint Paddy’s Day is upon us once again! It’s that wonderful time of year when leprechauns appear on more than just cereal boxes and we celebrate the Irish in us. Even if we’re not Irish, it a still a great excuse to put on that cool green outfit we’ve been saving in our closet, head down to the local pub for a hearty glass of green beer and break out our Irish brogue. 

So where did all the shamrocks and other trappings come from, and who decided turning the town river green was a good idea? Read on to find out.

Shamrocks are a native Irish plant and are the Irish version of clover. How did they get mixed up in this Saint Paddy’s Day business? Well, when Saint Patrick was converting pagan Ireland to Christianity, their three leaves made an excellent analogy for the holy trinity.

To answer your next question, dyeing the river green started in Chicago in 1962. It takes over 40 pounds of vegetable-based dye to get the water a suitable shade of green. 

Leprechauns may be known for hoarding their pots of gold, but these petite pixies were actually pretty shrewd businessmen. As legend has it, they made their fortune by making and mending shoes. Cobbling is hard work, so they’re understandably stingy about giving away their wealth.

The same can’t be said about those who celebrate Saint Patrick’s Day. A recent estimate put the total amount spent on beer alone for Saint Patrick’s Day celebrations at nearly $250 million, and that’s before tips. Overall, in 2016 American spent nearly $4.4 billion celebrating the holiday.

And if you’re hungry before you hit the pub, here’s a traditional Irish dish that should go perfectly with that green beer. 

So, happy Saint Patrick’s Day. May the luck o’ the Irish be with you!