Tax Help For Women Aids Financial Health And Success

Friday, March 09, 2012 10:33
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Tax Help For Women Aids Financial Health And Success

Tags: Taxes | Wealth Management | women investors

Thursday was International Women’s Day. It is a great reminder that women investors may have different concerns. Women may need education on what they need to know. For example, it’s a good idea for women to not only know what’s on their own tax return, but also what’s on their spouse’s. They may not be aware of all the deductions they can take; if they own a business, they may not know how their business structure affects their tax status.
 
Understanding tax returns, how the tax liability was calculated, and what the IRS expects is critical to anyone’s financial health. Women still make less money than men and so, may face greater impact from their tax returns. Knowledge offers women more control over their lives and better equips them to flourish in case of a spouse’s death or the occurrence of a divorce. Separate from those events, knowledge empowers women to live more fulfilling lives. Advisors can be important components of women’s success.

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