Personal Finance Tax Update 13th Edition By E. Thomas Garman, Raymond Forgue
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Personal Finance Tax Update 13th Edition By E. Thomas Garman, Raymond Forgue

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Pages
642
File size
21.64 MB
Format
Digital PDF
Course
Finance
Category
eBook[PDF]
About this ebook
Personal Finance Tax Update, 13th Edition by E. Thomas Garman and Raymond Forgue provides a comprehensive guide to lifetime financial management, heavily updated to integrate the Tax Cuts and Jobs Act (TCJA). The textbook structure is broken down into four core financial pillars: [1, 2]
📌 Part 1: Financial Planning
  • Understanding Personal Finance: Building foundational financial literacy, understanding economic influences, and developing a wealth-building mindset.
  • Career Planning: Aligning career paths with financial goals, assessing employee benefits, and computing take-home values.
  • Financial Statements, Tools, and Budgets: Constructing balance sheets, tracking cash flow, and implementing actionable monthly budgets. [1, 2]
💵 Part 2: Money Management
  • Managing Income Taxes: In-depth coverage of filing strategies, standard vs. itemized deductions, and long-term tax-avoidance strategies under the TCJA guidelines.
  • Checking and Savings Accounts: Navigating cash management, checking facilities, and evaluating high-yield savings vehicles.
  • Building and Maintaining Good Credit: Deciphering credit scores, understanding credit bureau reports, and consumer protection rights.
  • Credit Cards and Consumer Loans: Managing debt obligations, open-end credit cards, and reducing student loan debt.
  • Vehicle and Major Purchases: Frameworks for making smart consumer purchase decisions and comparing leasing vs. buying options.
  • Obtaining Affordable Housing: Weighing renting vs. buying, securing mortgages, and estimating total cost of homeownership. [1, 2, 3]
🛡️ Part 3: Income and Asset Protection
  • Property and Liability Risk: Securing home, auto, and personal liability insurance policies to protect net worth.
  • Planning for Health Care Expenses: Navigating health insurance plans, employer options, and handling high deductible accounts.
  • Life Insurance Planning: Calculating correct coverage amounts and evaluating term vs. cash-value policy models. [1, 2]
📈 Part 4: Investments, Retirement, and Estate Planning
  • Investment Fundamentals: Distinguishing risk vs. return, understanding market mechanics, and using time value of money tables.
  • Stocks and Bonds: Evaluating individual equities, fixed-income corporate / government securities, and asset valuation.
  • Mutual Funds and ETFs: Utilizing diversified mutual funds and index-tracking exchange-traded funds to optimize portfolio returns.
  • Real Estate and High-Risk Investments: Managing alternative assets, commercial properties, and speculative market exposures.
  • Retirement and Estate Planning: Navigating 401(k) and IRA rules, estimating Social Security metrics, and building wills or trusts for legacy transfers. [1, 2, 3]

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Topics

abuilding wills or trusts for legacy transfers. Aligning career paths with financial goals Building and Maintaining Good Credit: Deciphering credit scores Checking and Savings Accounts: Navigating cash management Credit Cards and Consumer Loans: Managing debt obligations estimating Social Security metrics Financial Planning Understanding Personal Finance Financial Statements Tools and Budgets Income and Asset Protection Property and Liability Risk Investments Retirement and Estate Planning Life Insurance Planning: Calculating correct coverage amounts Managing Income Taxes: In-depth coverage of filing strategies Navigating 401(k) and IRA rules Obtaining Affordable Housing: Weighing renting vs. buying Planning for Health Care Expenses Stocks and Bonds Mutual Funds and ETFs Real Estate and High-Risk Investments Vehicle and Major Purchases: Frameworks for making smart consumer purchase decisions
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