April is Financial Literacy Month and the perfect 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:
As you prepare to file your 2020 taxes, especially if you are thinking of filing your taxes early this year, keep in mind the following:
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...
Nicholas Scheibner is quoted on this topic in two separate articles in NJMoneyHelp.com by Karin Price Mueller, originally published on March 4, 2020 and March 23, 2020. There are some things to keep in mind regarding the SECURE Act rules for inherited IRA beneficiaries and the 10-year distribution window:
Coronavirus Aid, Relief, and Economic Security (CARES) Act is a $2 Trillion economic stimulus package from the U.S. Government. It addresses the economic impacts of the COVID-19 (coronavirus) outbreak, providing help for both individuals and businesses. The CARES Act provides:
You will receive a form 1099-R if any money has been moved out of a retirement account. How much you will pay in taxes will depend on how the money is moved. You want to make sure any movement out of a retirement account is done properly, and the correct code is applied when you file your taxes. The code will appear in box 7 of the 1099-R.
It is always a good time to enhance online security and know what to do if you are a victim of tax fraud. In recognition of “Identity Theft Awareness Week”, held February 3rd – 7th, we thought it was particularly timely to re-post this blog, originally posted Jan 25th, 2018.
Nicholas Scheibner is quoted on this topic in an article in NJMoneyHelp.com by Karin Price Mueller, originally published on January 30, 2020. The SECURE Act changes the rules for workers who are over age 70 ½. If you have earned income, you can contribute to your IRA at any age.
Start the new decade with a fresh look at your financials. Here is a checklist to get you started:
As part of Congress’ year-end budget deal, the SECURE Act (Setting Every Community Up for Retirement Enhancement) has been signed into law. The SECURE Act includes many changes that will affect retirement accounts starting in 2020. Below is a summary of some of the major changes:
What 5 things should you be thinking about at the end of the year when it comes to your finances?
There are important questions at certain ages that you should keep in mind on your journey. Your options for Retirement and Financial Planning need to be given very serious thought and examination. You need to identify your goals, explore your options, and test for the unexpected.