Income Tax Planning: A Brief Overview of How Much Tax you Pay and How to Manage Taxes Effectively

Is managing personal your finances complicated? Are you struggling with debt, credit card bills or taxes, or wondering how to invest for the future? If so, don’t miss important conversations on debt, credit scores, income taxes, and the pros and cons of investing in stocks, bonds, and alternative assets. Experts from the nonprofit Financial Planning Association of Metro New York will provide insights on the steps you can take to improve your financial life. Each hour-long session will include a Question-and-Answer section moderated by Senator Krueger.

Speakers:
-Stephanie Chau, CPA, CFPⓇ, Advocacy Committee Member, Financial Planning Association of Metro New York
-Anja Luesink, MBA, CFPⓇ, RLPⓇ, CeFTⓇ, GFPⓇ, Advocacy Committee Member, Financial Planning Association of Metro New York

Presenter PowerPoint:
– FPA Presentation:

Financial Planners Association of the New York Metro Region:
-FPA:
-Federal Income Tax:
-New York State Income Tax:

Tips for Older Adults Preparing their Taxes
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Financial Roadmap Link
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On May 15th, Senator Krueger hosted the second part of her Financial Road Map Series Town Hall. The event was held at the local community center and it was attended by a diverse group of community members eager to gain valuable insights into managing their finances effectively.

The series aims to provide the community with practical advice and resources to improve their financial well-being and make informed decisions. Senator Krueger has been an advocate for financial literacy and believes that taking control of one’s finances is crucial for personal growth and stability.

During the town hall, Senator Krueger highlighted the importance of budgeting and saving. She emphasized the need to have a clear understanding of income and expenses in order to make informed financial decisions. “Budgeting is like having a roadmap for your financial journey. It helps you stay on track, reach your goals, and avoid unnecessary debt,” Senator Krueger explained.

To assist attendees with budgeting, Senator Krueger invited a financial advisor to share tips and tricks for creating and sticking to a budget. The advisor stressed the importance of tracking expenses, setting realistic financial goals, and making adjustments when necessary. They also shared various budgeting apps and tools that can simplify the process and help individuals stay on top of their finances.

Another key topic of discussion was saving for retirement. Senator Krueger stressed the significance of starting to save early and taking advantage of employer-sponsored retirement plans. She encouraged attendees to contribute as much as possible to their retirement accounts and highlighted the benefits of compound interest over time.

To provide attendees with expert advice on retirement planning, Senator Krueger invited a financial planner who offered strategies to maximize retirement savings. They discussed the different types of retirement accounts available and the various investment options. The financial planner emphasized the importance of diversifying investments and regularly assessing investment performance.

Throughout the event, Senator Krueger addressed attendees’ questions and concerns. Participants expressed curiosity about student loan repayment options, building credit, and handling unexpected expenses. Senator Krueger acknowledged that these issues can be challenging but provided resources and information for further assistance.

The Financial Road Map Series Part 2 was a resounding success, with community members leaving with valuable insights and practical advice to implement in their financial lives. Senator Krueger’s dedication to fostering financial literacy has proven to be invaluable to her constituents, equipping them with the tools and knowledge necessary to make sound financial decisions.

As we look ahead to the next part of the Financial Road Map Series, it is evident that Senator Krueger’s commitment to financial education will continue to positively impact the lives of individuals and families in our community. By empowering individuals with the necessary knowledge and resources to take control of their finances, Senator Krueger is cultivating a more financially resilient and prosperous community.