The “Affordable New Jersey Communities for Homeowners and Renters” program (ANCHOR) has been renewed for the second year. This year’s program provides property tax relief to NJ residents who either owned or rented their main residence on October 1, 2020 and met the income limits (Your 2020 NJ gross income was not more than $250,000 for homeowners, and $150,000 for tenants). Some important information to take note of:
Baron Financial Group is committed to helping families with special needs plan for their future through the fiduciary services we provide. In addition, we are proud of the philanthropy we dedicate to organizations like Spectrum for Living (see more about Spectrum below). Baron’s founding partner, Victor Cannillo’s relationship with a special needs family member made him aware of the many challenges associated with those with developmental disabilities. It led him to...
Baron Financial Team Answers Questions About “Your Personal Economy”. Presented by Victor Cannillo, NAPFA-Registered Financial Advisor. Today’s video answers the question, how do I create an income stream in retirement? We are going to cover three common income resources that may be available to you in retirement. View or listen to our video to learn more.
Car accidents are inevitable, no matter how carefully you drive. Most of us have been taught to drive defensively – make sure to look out for the other driver to anticipate a dangerous situation and hopefully prevent a potential accident. That can be true of auto insurance policies, as well. We all have car insurance if we own a car, but some drivers may be underinsured, or even uninsured. What if you get into an accident with an uninsured driver or a driver who has only $25,000 in insurance, what happens to the driver who is properly insured and/or has umbrella insurance?
Whether you are tired of piles of papers cluttering up your home or are trying to go “paperless,” it is important to know what documents you should keep and which you could shred. Below we list some of the important documents the Federal Trade Commission (FTC) suggests that you should always keep:
In recognition of Women’s History Month in March, and International Women's Day on March 8th, we felt it was important and timely to share this article on women and money, to reinforce the importance of women taking control of their finances. “Women and Money: Why It’s Important to Take Control of Your Finances” by Carrie Schwab-Pomerantz, was originally posted on March 4, 2020 on Schwab.com.
With the filing due date fast approaching, you are probably in the process of collecting all of your tax-related documents from the past year. Tax returns must be submitted by April 18th this year. If you realize that you are going to need more time to compile information for your tax return or haven’t received all of the documents you need, it will be in your best interest to file a tax extension. This will extend the due date up until October 16, 2023. Continue reading to learn how to file a paper tax extension.
As you prepare to file your 2022 taxes, especially if you are thinking of filing your taxes early this year, keep in mind the following about 1099s and 1099-R codes...
The start of a New Year is a good time to share our financial checklist again. We created our checklist in January of 2020, as we began a new decade, to help people take a fresh look at their financials. As Financial Advisors, we are dedicated to educating our clients and our community about the importance of their financial health. We hope you find this checklist helpful! You can download the checklist here:
On November 22, 2022, the U.S. Department of Education announced an extension of the pause on student loan payments until the Department is permitted to implement the debt relief program or the litigation is resolved. According to the U.S. Department of Education:
What 5 things should you be thinking about at the end of the year when it comes to your finances? 1. Review your personal budget and commit to a savings plan for 2023. 2. Review your long-term investment strategy...
The ANCHOR benefit application deadline has now been extended to January 31, 2023. This video presentation, originally published on October 11, 2022, has relevant information regarding the New Jersey program, but with the original application deadline of December 30th. The program provides property tax relief to NJ residents who either owned or rented their main residence on October 1, 2019 and met the income limits.