What to Do If You Took a Coronavirus Related Distribution

Adapted from an article originally posted on Forbes.com The 2020 tax season is upon us, and many people are wondering how the pandemic will impact their tax returns. One of the areas in question concerns the coronavirus-related distributions (CRDs). If you took these distributions, you now face the decision about how to include these CRDs in … Continued

Stimulus and 2020 Tax Return: Read This BEFORE You File

Modified on March 25, 2021 Believe it or not, tax season is upon us. On February 12th, the IRS began officially accepting tax returns for the 2020 tax year, but recent congressional action may affect whether you should file now, or later. Before sharpening your tax pencils, consider the following questions. Q: With the passage of the American … Continued

The Continuing Appropriations Act, 2021: $900B stimulus. What’s in it for us?

Modified on March 25, 2021 On December 27, 2020 the President signed the Continuing Appropriations Act of 2021 making it law and then avoiding a government shutdown while, among other things, addressing some issues facing those affected by the pandemic. Here are the COVID-19 related items included in the 5,539-page legislation. The most detailed breakdowns … Continued

Student Loans: An Update as of January 2021

As the US economy grapples with the pandemic there have been multiple initiatives to help manage what has been a difficult situation for millions. One of those initiatives was a move to help with student loan payments. On March 27th, Section 3513 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act provided zero-interest on … Continued

How to Decide If a 401k Loan is Right for You

Chances are that if you’re reading this, you’re probably considering taking a 401k loan, and you’ve most likely heard that it’s something to avoid. Generally speaking, we agree, but there are definitely reasons that it can make sense. Otherwise, why would the option even exist, right? Let’s go over the key things to consider so … Continued

How To Prioritize Your Bills

When money is tight, you may find yourself wondering if you should be making trade-offs on which bills to pay on time, versus which to postpone until more money comes in. Big picture, think of your essential bills in the following categories: Basic needs (food, medicine and shelter) Things that enable you to keep working (transportation, … Continued

Get Help Now with These Free Financial Assistance Programs

If you’re reading this article and in need of financial assistance, please take a moment.  Breathe.  Life can bring hardships, sometimes unexpected, and it’s important to know who you can ask for help.  Those who have needed assistance before you have helped to pave the way with an array of amazing resources that are designed … Continued

Payroll Tax Deferral: What Does It Mean for My Paycheck?

On August 28th, 2020, the IRS issued it’s guidance regarding the August 8th executive order regarding payroll tax deferral for the rest of 2020.  This order directed the U.S. Treasury to allow employers to stop collecting Social Security payroll taxes through December 31, 2020 for workers making less than $4,000 bi-weekly/ $104,000 annually. Recall that you … Continued

Mindful Money Management

As the world attempts to emerge from the Covid-19 lockdowns and tentatively eases up social distancing restrictions, I noticed something unusual.  I haven’t been spending nearly as much money as I usually do.  This makes sense, of course; I have hardly been going anywhere to spend money (except for online shopping at Amazon, that is).  Being forced to limit our activities, and subsequently … Continued

Spending Less in Quarantine?

Have you ever felt like you could reach your financial goals if you just buckled down and did not spend money for a certain amount of time? With travel and opportunities to dine out limited, quarantine presents an opportunity to save some extra money if you are able to do so. Those who have had their income impacted can refer … Continued

Managing Your Credit Card Through the Pandemic

As a result of the economic downturn, millions of Americans have sought financial relief. Credit card companies have stepped up to offer support, but the question stands, is it in my best interest to take the offer or continue to pay as planned?  Should you take advantage of a deferred payment?  Probably the most known form of relief comes in … Continued

Employee benefits: It’s More Than Just Pay

As part of employment packages, there is usually a whole suite of benefits to entice employees. We all likely use some of our benefits, but what else might be available to you? The Big Three Health Care- Shortly after asking “How much does it pay?” comes  “What are the health benefits?”.  For many employees this … Continued

Action Plan: How to Invest in a COVID-19 Environment

Action Plan: How to Invest in a COVID-19 Environment This action plan will provide guidance on how to manage your investments not only during the COVID-19 pandemic, but beyond. During market downturns, having a solid plan to manage your investments for both short and long-term goals is vital to building financial security and providing you … Continued

SBA Paycheck Protection Program

As of April 27, 2020, the United States government made available an additional $484 billion in support of a second round of Covid-19 stimulus to assist small businesses. Two types of forgivable loan programs are available, the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) program. If you own a small business that has been negatively impacted by the coronavirus, you may … Continued

Where Is My Coronavirus Stimulus Payment?

If you are anxiously awaiting your Economic Impact Payment (a.k.a. coronavirus stimulus) from the federal government, you are not alone considering the 16 million or so American workers who have recently filed for unemployment in the wake of the COVID-19 pandemic. According to the Internal Revenue Service, automatic payment distribution to qualified recipients is scheduled … Continued