If you didn’t opt out of receiving the pre-paid child tax credit then you should have received your first payment on or around July 15th. While it’s nice to receive these advanced payments, you need to be careful as you could be in for a nasty tax surprise come tax time. Who’s Eligible? The […]
Beware of Pre-Paid Child Tax Credit Read More »
On Thursday, March 11, 2021, President Biden signed into law the $1.9 trillion American Rescue Plan. Below are highlights of the bill: Stimulus Payments If your adjusted gross income (AGI), based on your 2019 or 2020 tax return, whichever is the most recent on file with IRS, is less than or equal to $75,000
Summary of the American Rescue Plan Stimulus Bill Read More »
Throughout the years, the vast majority of people I’ve worked with really want to pay off their mortgage in 15 years. Despite the deep down temptation to be pay off your mortgage early, I only see 2 reasons why you should ever go with a 15 year mortgage in today’s environment. Fear and Comfort
Why You Should Almost Never Choose a 15 Year Mortgage Read More »
You’d love to save more money to your savings account, 401(k), and investment accounts, but it can be a challenge. Life gets in the way and you can’t seem to get ahead. This is often true regardless of how much money you make. In today’s blog post, I share one simple trick that you can
How to Save More Money Read More »
Many pension plans are under a lot of stress due to the coronavirus. In today’s article, I discuss what you need to do to protect yourself against your pension not fully being there in the future. State Pension Plans Colorado, South Carolina, and New Jersey previously decided to temporarily stop making additional payments to
Is Your Pension Safe? Read More »
Last Updated: 5/28/2021 It’s no surprise that our country’s debt continues to rise at unparalleled levels. Currently our nation’s debt is $28.3 trillion and rapidly rising. And further talks of economic stimulus will only push the debt higher. This could create serious implications for us as citizens and you need to be prepared. I recently
Implications of Our Country’s Debt – and What You Can Do Read More »
The CARES Act provided retirees with the ability to waive Required Minimum Distributions (RMD) for 2020. Those who did this may have a very attractive tax strategy available to them. Read on to learn more. RMD is the process where the IRS requires you to begin taking withdrawals from your IRA, 401k, or 403b if
Powerful Tax-Saving Strategy if You Stopped RMD in 2020 Read More »
My article on Roth Conversions in a Down Market was recently published on Advisor Perspectives, the #1 most-read electronic newsletter by financial advisors. Much was written about a strategic “opportunity” to do a Roth conversion when the coronavirus caused the stock market to decline over 30% between February and March 2020. The tactic was based
Roth Conversions in a Down Market? Think Again Read More »
The coronavirus epidemic brought with it a lot of pain. Many people lost their jobs. Investment accounts declined very rapidly. Life was essentially turned upside down. In today’s video I discuss 3 financial lessons that we can learn from this epidemic and how it can prepare you for the next crisis that comes your way.
(VIDEO) 3 Financial Lessons to Learn from COVID-19 Read More »
Many people understand that the decision to refinance involves more than just how much money they will save on a monthly basis. They also understand that there is value to the length of time they’ve being paying down their mortgage, but they don’t how to quantify that and determine if refinancing makes sense for them.
How to Truly Know if You Should Refinance Mortgage Read More »
In last week’s blog post I discussed the importance of converting some of your taxable IRA to a tax-free Roth IRA to protect against higher taxes in the future. With that in mind, should you convert your entire IRA to a Roth IRA? I answer this question in today’s article. There is a strong appeal
Should Your Entire IRA Be Converted to a Tax-Free Roth IRA? Read More »
Last Updated 8/9/2021 As a result of our country’s rapidly growing debt, you could be forced to pay higher taxes in the future. In today’s article I will discuss 3 strategies for how you can protect yourself against that TODAY! At the end of 2020, the U.S. debt stood at around $28 trillion; up from
3 Strategies to Protect Yourself From Higher Taxes Read More »
