Beware of scams during tax season.
This year, many online criminals are targeting pandemic-related changes. For example, Security Magazine reported hackers are targeting personal data by impersonating:5
• Videoconferencing platforms
• Health organizations
• News sources with information about the virus and vaccines
• Employers sending fake job termination notices
Women’s History Month is a time to celebrate the many accomplishments of women and encourage positive steps to help relieve money stress and help build financial security.
Three weeks ago, GameStop (ticker: GME) was known as a store that millennials may have visited in their childhood to shop for video gaming consoles and accessories. That quickly changed when the price of GameStop stock surged more than 1,600% from January 11th to January 27th (source: Bloomberg) dominating the headlines and causing many market participants to ask the question “what in the world is going on?”.
If you’re a parent of a high school senior, chances are you have spent a significant amount of time helping your child navigate the college application process this year. It’s a demanding rite of passage that has been made more stressful than usual by COVID-19. Last year, almost every aspect of the college recruiting and admissions process was disrupted and that’s likely to be the case for part of 2021, as well.
If the grass looks greener on the tax-free side of the retirement income fence, you may want to consider a Roth conversion.
Wondering how to bring everyone together – virtually – after a really challenging year? Here’s an idea: chronicle the quarantine. Seriously.
--Consider placing a credit freeze at each reporting bureau. Clark Howard has a helpful guide here: https://clark.com/credit/credit-freeze-and-thaw-guide/ --Enroll in free credit monitoring if it becomes available as part of any security breach. --Check your credit reports. Obtain a free copy of your credit report from all three reporting bureaus at https://www.annualcreditreport.com. Others have recommended sites such as […]
Whether you leave an employer for a wonderful new opportunity or lose a position because of the pandemic, it’s easy to forget about the money you have saved in your retirement plan.
Sometimes, retirement plan savings can stay in a previous employer’s plan. Other times, your money can’t stay in the plan, and you need to take action or your employer may move your money. The circumstances depend on the type of plan the employer offers and the amount of money you have in your account.
If your income is pie, then the federal government takes a hefty slice each year. A 2020 report from the Tax Foundation found a single average wage earner in the United States pays about 29.8 percent of their income in federal taxes. That’s about $18,368 in federal taxes and does not include state and local taxes.