The “Setting Every Community Up for Retirement Enhancement” (SECURE) Act of 2019 began the process of helping Americans save for retirement – and this year, the SECURE 2.0 Act takes effect. Like the original legislation, SECURE 2.0 had broad bipartisan support, and was ultimately passed in the congressional appropriations bill at the end of 2022.…
Read More...Indiana DOR Shares Changes for Upcoming Tax Season
The Indiana Department of Revenue (DOR) wants individuals to be aware of several tax changes as the 2023 tax filing season approaches. In addition, DOR wants to remind low-income Hoosiers who received Social Security income in 2022 and who meet other eligibility criteria that they will need to file a tax return to claim the…
Read More...Happy New Year!!
I hope you had a wonderful and safe holiday season. We are into the new tax season and I know you have a lot of questions. I will be mailing out client letters on January 10 so be patient, the information is coming. I will not be taking any appointments until February 6. I will…
Read More...What Happens If I Don’t Name a Life Insurance Beneficiary?
When a loved one dies, there are a lot of questions you have to deal with, not the least of which is how to pay for a funeral and other death expenses. A life insurance policy could help, but the deceased must have made sure the proper beneficiary is named. If at least one beneficiary is not…
Read More...Student Loan Forgiveness & Taxes
With the recent student loan forgiveness announcement, many borrowers have been left confused or even unaware of their tax obligation for the coming tax year. Help your clients know what to expect with our list of common tax-related questions surrounding student debt relief. Is student debt forgiveness taxable? For the most part, no. The American…
Read More...How Will Regulation Affect Cryptocurrency?
Cryptocurrency lets users exchange, track, and send virtual money in a way that’s never been possible before. But as with any new significant financial development, there are plenty of unknowns. One area of uncertainty is the government, which might announce new cryptocurrency regulations at any time. Here’s a closer look at how regulation may affect cryptocurrency in…
Read More...Most People Say They’ve Reduced or Stopped Saving for Retirement Because of Inflation
Saving enough for retirement is no easy feat, and a new survey indicates eye-popping inflation is making it much more difficult. More than half of Americans (54%) say they have cut back on retirement contributions or stopped saving entirely, according to a survey of 1,004 people from insurance company Allianz Life. The grim reality is a direct…
Read More...Prepare for Your Future
We all know friends or loved ones who don’t have close family members in their lives. My sister passed recently. It was absolutely unexpected but since we had prepared for her passing, it was much less painful as there were no decisions to be made. You should have someone on your bank account who can…
Read More...10 Ways To Get Rid of Credit Card Debt Faster
If you look at your finances and see a lot of debt, you’re not alone. Pandemic stimulus packages did help to reduce U.S. consumer debt in 2020. But Federal Reserve data shows that balances began to grow again in 2021 and reached a new all-time high of over $900 billion in August 2022. The average APR on…
Read More...Borrowers Over 50 With Student Loan Debt
Millions of borrowers 50 and older are struggling to repay loans for themselves and their children, some delaying retirement. There’s a trick, though, to help with repayment. Student loan debt is not just holding back young adults. It’s increasingly an issue for older people, sending many of them into default and threatening retirement plans for…
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