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Most consumers typically have both a credit card and a debit card. Of course, the biggest difference between the two is that a debit card will immediately take money out of your bank account when used, unlike a credit card, which will pay for the purchase and later add the amount of the transaction to your monthly statement.

But are there any other differences between the two?

Bohemian Rhapsody – The Reel Life or Just Fantasy? From the opening strains of the 21st Century Fox Fanfare, performed with dynamic flair and composed by Queen members Brian May on guitar and Roger Taylor on drums, the 2 hour and 14 minute production flew by and left me hoping for an encore when the credits began to roll.

You are probably aware that you can file for an extension if you cannot complete your income tax return by the filing deadline. However, you probably aren't aware of everything involved in filing an extension.

In my three plus decades in tax practice, the most common complaint I have heard about our tax code is that it is too complicated. A complaint with which I agree. Another complaint that I have frequently heard is that the lobbyists are in control of our tax code. Again, I concur.

I have always thought that our government's tax policy should be driven by its positive impact on economic growth and that it should not be used for social engineering. If tax policy successfully increases economic growth, economic opportunity increases. Economic opportunity is the best way for individuals to progress from one socioeconomic status to the next.

If you are a resident of Illinois, you are probably aware that the General Assembly passed a 32% state income tax increase and a 38% corporate income tax increase. What you probably don’t know is this legislation also took the first step towards instituting a graduated income tax in the state of Illinois.

If you are a college graduate lucky enough to be starting a full-time job, please note: you can use part-year withholding to have less tax withheld and increase your net pay. When determining your withholding, the standard federal tax withholding tables assume you’ll earn a full year’s income.

You may or may not have heard about the Department of Labor's "Fiduciary Rule" which recently took effect on June 9, 2017. I am a limited government type guy and am always wary about government intervention into the private sector.

I have lived in Illinois my entire life. My business is here in Illinois and it is very likely my children will spend their lives as Illinois residents. Consequently, Illinois' current budget difficulties have me very concerned. I am especially disturbed that the Illinois Senate is currently contemplating a budget fix that would raise the income tax rate to 4.99%.

My clients frequently ask me if they should invest in gold. Since the financial crisis in 2008, advertisements for gold have blanketed the television and radio airwaves. Many major radio and television personalities have become gold advocates (of course they're being well-paid to do so). Gold is often pitched as an inflation hedge and a defensive move against possible economic downturns.