Term or Whole Life Insurance?

Buy term insurance since it is generally 20% or more cheaper than whole life insurance for the same coverage. Insurance agents push whole life because they get a higher commission than they do on term. Whole life does protect you for a lifetime and the cash value grows tax-free. However, the cash value piece is just a  way to force you to save. You are much better off to just save on your own and pay a premium that is only for insurance instead of for insurance and forced savings.

Emergency Fund

Everyone should strive in these uncertain times to have an emergency fund to cover of at least 6 months of normal living expenses in easy accessible cash. You may want to have even more to give you that extra peace of mind.

Production Deduction

The production deduction is one of those needlessly complicated deductions that only a government bureaucrat or a politician would love. However, it does result in some good tax savings if you qualify. The deduction is available to any type of business entity that generally makes something in the U.S. Also qualifying are construction activities and engineering and architectural services supporting construction in the United States. Even film production  qualifies.The deduction is equal to the lesser of 9% of the net qualified income or 50% of related W-2 wages of the taxpayer. To compute the deduction you fill out form 8903.

EMail from the IRS

Any email from the IRS is a scam because they don't do email. If you open or respond to such an email, you may end up infecting your computer.