Built on a solid foundation of excellent client service and in-depth market knowledge, Berg Faircloth strives to develop a relationship with each client to foster a greater understanding of your needs and objectives while maintaining the ethical standards
Berg Faircloth is built on a solid foundation of excellent client service and in-depth market knowledge. We strive to develop a working relationship with each client to foster a greater understanding of your needs and objectives while maintaining the ethical standards of our profession. We provide tax and accounting services for individual and business clients.
Homeowner Tips: HVAC. It's a good idea to have an inspection and cleaning of your units before use each season. Average cost for 2x annual service is under $500 per year. The average cost for replacing a central AC unit is between $3.5 - 7.6k and a new gas furnace can run you $4-5k.
The Pareto Principle (or 80/20 Rule) provides interesting and useful insight when looking at wealth distribution, personal finance and spending habits. Learn more here: http://bit.ly/2SMnABn
investopedia.com The Pareto Principle specifies that 80% of consequences come from 20% of the causes, proving an unequal relationship between inputs and outputs.
Feeling the heat? Here are 5 stretches to de-stress at your desk. Try one today and see the difference it can make. http://bit.ly/2YqtTwj
forbes.com Plenty of things can kill you, but one of the sneakiest and deadliest causes is something that most of us do for hours every day.
Passive income, also known as residual income, is money you earn while you’re not actively working. There are two ways to generate this income from your existing assets - here are some ideas to consider.
While the ideal outcomes for debt consolidation and debt refinancing are often the same, they are two very different things. Learn more about the differences to get the full picture. http://bit.ly/2xn1o6X
nationaldebtrelief.com Debt consolidation and debt refinancing are the two major ways that people deal with their debts (past simply repaying them, of course).
Homeowner Tips: Pest Prevention. You can work with a company for annual checks and treatments to keep termites at bay. This work usually costs less than $500. If you find yourself with a pest problem you can be looking at an average cost of 3K to fix the damage.
In the internet era, credit card info is constantly at risk for theft. Fortunately, you can take steps to avoid credit card fraud by keeping your credit card information extra safe. http://bit.ly/2V4Tdus
thebalance.com Your credit card information is always at risk for theft. You can avoid credit card fraud by taking steps to keep your credit card details safe.
Have you ever wondered what countries have the highest taxes? http://bit.ly/2YoMMQj
investopedia.com Before you move to one of these countries with the highest income taxes rates, think through the overall tax situation and what you get for your money.
Managing your 401K can be a bit tricky. These 10 essential tips could help you manage it successfully. http://bit.ly/2FLvLsg
forbes.com Follow these 10 steps to achieve your retirement goals.
Have you ever wondered what a Forensic Accountant does? The term “forensic” may bring to mind crime drama on TV... but what does it mean in the world of accounting? https://financialhotspot.com/2019/07/15/what-is-a-forensic-accountant/
financialhotspot.com Forensic accounting involves deep analysis and investigation to uncover fraud and provide evidence in litigation cases.
Homeowner Tips: Roof and Gutter Care. The average cost of cleaning gutters is less than $250. If neglected, water can find its way into your home, damaging your roof and beyond. The cost of a new roof ranges from $5-15K. Adding in the cost to fix drywall, re-paint or mold removal, you could be paying upwards of $25k.
Knowing your money personality can be a first step towards reaching your goals. Don't know yours? Take this quiz to find out! http://bit.ly/2FKFPBU
nerdwallet.com Some financial planners, credit counselors and psychologists say recognizing your tendencies is the first step toward financial health.
Start a sinking fund. If you know you'll need money for certain situations, like holiday spending or upcoming home improvements, estimate the overall cost and when you'll need it. Add a line item to your budget to save up monthly in the time leading up to that expense. By the time you need it, you'll have it ready!
Achieve the financial freedom you've always wanted - start with these steps!
If you own a small business and your cash flow strategy could use a boost - here are some ideas that could help! https://financialhotspot.com/2019/06/25/streamline-your-small-business-cash-flow-with-these-5-tips/
financialhotspot.com Cash flow strategy is important no matter how big or how small your business is. Get the top tips for operating more efficiently today!
Bill Gates is ranked 2nd on the list of Richest People in the World. Did you know... he only owns 1% of the shares in Microsoft and has invested in a mix of other stocks and assets.
With the envelope system, you use cash for different categories of your budget keeping the money separated in envelopes. This is an easy way to visualize if you are setting aside enough, too much or if you've got it just right.
Your mindset is important when it comes to making MORE Money. Instead of saying "I can't afford it." ask yourself "How can I afford it?" http://bit.ly/2V8Ywcf
"Don't tell people what you know. KEEP THEM POOR!" This is what rich people say to Robert Kiyosaki. ►This video was uploaded with the permission of the owner...
When starting a small business there are many reasons you might want to form an LLC. Not sure where to start? Here are some key steps to setting up a new LLC. http://bit.ly/2xaKnwy
financialhotspot.com Forming an LLC for your small business can have many benefits. Find out more Today!
Mark Zuckerberg is ranked 8th on the list of Richest People in the World - he dropped out of Harvard to devote his time to Facebook.
There's a lot at stake when deciding whether to lease or buy a car. A big part of that choice is focused on cost, but there are other things to consider. Here's a breakdown of the benefits and drawbacks. http://bit.ly/2wfcj4S
cars.usnews.com [myAutoloan-Image-Widget] There’s more than one way to get behind the wheel of a new car. You can go the traditional route of buying your next vehicle and financing much of the purchase price, or you can lease a new car ...
Create an itemized budget and continue to update it. You may catch some unexpected expenses coming up monthly - add these items to your budget so you can plan with accuracy!
Is there a right time to file for Social Security retirement benefits? http://bit.ly/2GNOUcQ
forbes.com Today’s column explores when a lower earnings spouse can best file, filing when a spouse will receive a pension based on income not covered by Social Security, whether divorced spousal benefits can be claimed and how spousal benefits are calculated.
Finding someone to trust with your assets can be daunting... Here are 10 questions to ask when choosing a financial planner. http://bit.ly/2RAVwjY
financialhotspot.com Finding the right financial planner is an important part of your future. Get the information you need to make the right choice.
Happy 4th of July! We had a great time at the Purcellville parade! 🇺🇸
Happy 4th of July!
Take advantage of your company's 401K Match. Think of it as an additional pay raise. https://cnb.cx/2XWWVmH
cnbc.com Like many Americans, you could be making this retirement mistake, which means you're missing out on free money, says CFP Eric Roberge.
Tips for Combining Your Finances: Emergencies happen and don't always fit into our budget. Working together to create an emergency fund is a great way to build a safety net.
So your budget is perfect... right? Here are 16 commonly forgotten expenses - some of them can really add up! http://bit.ly/2XXMcIF
daveramsey.com Easily forgotten monthly expenses can break your budget. Create a monthly budget that prepares you for unexpected expenses with these 16 budgeting tips.
If you paid more than $600 over the tax year to an independent contractor or contracting LLC, you will need to generate a 1099 form. http://bit.ly/2JT3kfV
financialhotspot.com Find out how correct filing of 1099 forms for your independent contractors can prevent IRS penalties and fines.
Do you own a small business? Here are 10 ways your business can benefit from engaging with your local community. http://bit.ly/2GNyeCq
medium.com Imagine your hometown or local community. Go to the main street or shopping district in your mind. Now imagine it without any small…
Do you have the right Money Mindset?
Tips for Combining Your Finances: Upfront budgeting - rather than waiting until the accounts are suddenly low, create a budget that you are both comfortable with so you know where you stand from the start.
How long should you keep your tax returns? It's recommended to keep your returns for 3 years, do you know why? http://bit.ly/2IW75jq
usatoday.com How long you should keep tax returns and supporting documents depends on your tax situation and when the audit period of limitations runs out.
Weeding through the jargon and complex fine print of the insurance industry can be challenging. To make things easier, here are nine key aspects of life insurance that you’ll want to understand before taking out a policy. http://bit.ly/2WFuvkk
financialhotspot.com Having the right insurance policy can give you the peace of mind you need to relax and enjoy life.
What happens when you ignore naming a beneficiary to your 401k plan? http://bit.ly/2XYJ3sc
forbes.com Answering these 7 questions will help you determine your best beneficiary naming strategy.
Tips for Combining Your Finances: Take a look at your spending and saving styles to decide if you want to combine all accounts, keep it separate or find a middle ground. There's no right answer but taking the time to plan can set you up for success!
So you've prioritized your budget to pay off your debt and succeeded... Congrats! Now it's time to plan for your future... http://bit.ly/2IG9Dmd
investorjunkie.com Woo hoo! You've paid off your debt! Now what?! Here's what to aim for in the long term.
So you want to invest in real estate but aren't ready to purchase property... you have options. http://bit.ly/2HYa1vm
forbes.com Make passive income with real estate. Learn 9 real estate investment options you can start today without having to manage any physical properties.
Each year well over a million taxpayers will typically be selected by the IRS for audit... here are 10 tips to avoid the hassle for your small business. http://bit.ly/2JU77tn
financialhotspot.com Good preparation is the key to keeping your business on track and avoiding and IRS audit.
Warren Buffett, who is ranked 3rd richest in the world. Did you know he bought his first stock at 11 and filed taxes at 13?
Don't get duped! The IRS will never call you to demand immediate payments - this is a spoofing tactic used to scare people into scams. If you are worried about your standing with the IRS contact us for help! https://abc7.ws/2J1sDLc
abc7chicago.com Quick Tip: Scammers using spoofing technology during tax season
Tips for Combining Your Finances: #GOALS - Establish goals so you can each do your part to work toward them together.
Are you an aspiring female advisor? Here are some steps to improve more opportunities. http://bit.ly/2KZSZQw
thinkadvisor.com Half of the U.S. population is female, so why are less than 20% of advisors women? We need to get serious to change this. Here's how.
If you are a Millennial and are concerned that social security benefits may not be there waiting for you when you retire, you are not alone: according to a 2017 Annual Transamerica Retirement Survey, 80 percent of Millennials share your concern. https://financialhotspot.com/2019/05/07/can-millennials-count-on-receiving-social-security-benefits/
financialhotspot.com If you are a Millennial and are concerned that social security benefits may not be there waiting for you when you retire, you are not alone.
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