As a parent, you of course want to give your child the best opportunity for success, and for many, attending the “right” university or college is that opportunity. Unfortunately, being accepted to the college of one’s choice may not be as easy as it once was. Additionally, the earlier you consider how you expect to … Read more
You taught them how to read and how to ride a bike, but have you taught your children how to manage money? One study households with student loan debt showed that the average amount owed was $47,671.1 And more than 20% of recipients with outstanding loans will either default or be delinquent in repaying those loans.2 … Read more
The latest research suggests that divorce rates in the U.S. have been falling in recent decades. Still, many people face the difficult crossroads that comes when their marriage ends.1 Getting a divorce is a painful, emotional process. Don’t be in such a hurry to reach a settlement that you make poor decisions that can have … Read more
Many Americans have taken steps in recent years to protect their identity. According to one report, published in 2020, total dollars lost due to identity theft was $16.9 billion. If you haven’t taken measures to protect yourself, it may be a good idea to consider your options.1 Identity theft is a crime in which an … Read more
Buying a home is the single-largest financial commitment most people ever make. And sorting through mortgages involves a lot of critical choices. One of these is choosing between a fixed or variable interest rate mortgage. True to its name, fixed-rate mortgage interest is “fixed” throughout the life of the loan. In contrast, the interest rate … Read more
When selecting a fixed-rate mortgage, a prospective borrower has to determine how many years to finance the loan. Some financial institutions offer 10-year and 20-year, fixed-rate mortgages as well as 15-year and 30-year, fixed-rate home loans. For the purpose of comparison, this worksheet takes a look at 15-year and 30-year, fixed-rate loans. The payments on … Read more
The 2015 Obergefell v. Hodges Supreme Court decision streamlined tax and estate strategizing for married LGBTQ+ couples. If you are filing a joint tax return for this year or are considering updating your estate strategy, here are some important things to remember. Keep in mind, this article is for informational purposes only and is not a replacement … Read more
When a family member passes away, there are many decisions that need to be made and many emotions to handle. The last thing anyone thinks about is taxes. Unfortunately, even the deceased can’t escape taxation. If the departed family member earned taxable income during the year in which they died, then federal taxes may be … Read more
How the gains from the sale of a primary residence are taxed has changed in recent years. If you have recently sold your home, or are considering doing so, you may want to be aware of these new rules. HOME SALE If you owned and lived in your home for two of the last five … Read more
As parents, we encourage our children to work, so they can learn important values about work and independence. At what point, if at all, do children need to file an income tax return for the money they earn? The IRS does not exempt anyone from the requirement to file a tax return based on age, … Read more
You may have to make estimated tax payments if you earn income that is not subject to withholding, such as income from self-employment, interest, dividends, alimony, rent, realized investment gains, prizes, and awards. You also may have to pay estimated taxes if your income tax withholding on salary, pension, or other income is not enough, … Read more
Our Partners:
