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Dave Says – Tithe on stimulus check?

dave ramsey

Need some financial advice? Debt and income crisis? Pay off the house mortgage first? Check cashing? Taxes? Credit Cards? Check out what folks are asking Dave Ramsey. Tithe on stimulus check?   Dear ...

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IRS announces rollover relief for RMDs from retirement accounts that were waived under the CARES Act

retirement

The Internal Revenue Service announced that anyone who already took a required minimum distribution (RMD) in 2020 from certain retirement accounts now has the opportunity to roll those funds back into a ...

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Dave Says: Be professional and respectful

dave ramsey

Need some financial advice? Debt and income crisis? Pay off the house mortgage first? Check cashing? Taxes? Credit Cards? Check out what folks are asking Dave Ramsey.   Be professional and respectful   ...

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The trouble with trillions

trillions

Recently, President Trump signed ‘phase 3.5’ of emergency interim coronavirus relief, which comes with nearly a half trillion dollar cost. All told the current running total is in the trillions, exceeding $4 ...

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Use IRS non-filers tool to get Economic Impact Payment; many low-income, homeless qualify

Economic Impact Payment

The Internal Revenue Service is reminding low-income Americans to use the free, online tool Non-Filers: Enter Payment Info to quickly and easily register to receive their Economic Impact Payment. “The IRS is working ...

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Dave Says: Is it an emergency?

dave ramsey

Need some financial advice? Debt and income crisis? Pay off the house mortgage first? Check cashing? Taxes? Credit Cards? Check out what folks are asking Dave Ramsey.   Is it an emergency? Dear ...

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Your taxes: Tax Day is now July 15, 2020

taxes

Because of the COVID-19 pandemic, you will now have more time to file and pay your state and federal taxes. Both the IRS and state revenue departments have extended the DUE DATE ...

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Dave Says: Great start, but follow the steps

dave ramsey

Need some financial advice? Debt and income crisis? Pay off the house mortgage first? Check cashing? Taxes? Credit Cards? Check out what folks are asking Dave Ramsey.   Great start, but follow the ...

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Ways to avoid the new tax increase on retirement accounts

retirement accounts

Last month we discussed the SECURE Act and its projected $15.7 billion tax increase on beneficiaries of tax deferred retirement accounts (like 401(k)s, 403(bs), TSPs, IRAs, etc.). The only ones excluded from ...

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Dave Says: Landlords and duplexes

dave ramsey

Need some financial advice? Debt and income crisis? Pay off the house mortgage first? Check cashing? Taxes? Credit Cards? Check out what folks are asking Dave Ramsey.   Landlords and duplexes Dear Dave, ...

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The new $15.7 billion tax on retirement accounts

retirement

We have a saying around our office that retirees are one of the highest and most unfairly taxed groups out there and with the recent passage of the SECURE Act things are ...

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Don’t be victim to ‘ghost’ tax return preparers

tax scams

With the start of the 2020 tax filing season near, the Internal Revenue Service is reminding taxpayers to avoid unethical “ghost” tax return preparers. According to the IRS, a ghost preparer does ...

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Dave Says: Teaching the value of work…and money

dave ramsey

Need some financial advice? Debt and income crisis? Pay off the house mortgage first? Check cashing? Taxes? Credit Cards? Check out what folks are asking Dave Ramsey.   Dear Dave, Is it okay ...

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Get ready for taxes: Important things to know about refunds

  As tax filing season approaches, the Internal Revenue Service cautions taxpayers not to rely on receiving their refunds by a certain date, especially when making major purchases or paying bills. Some ...

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Dave Says: Should you have renter’s insurance?

dave ramsey

Need some financial advice? Debt and income crisis? Pay off the house mortgage first? Check cashing? Taxes? Credit Cards? Check out what folks are asking Dave Ramsey.   Dear Dave, We just helped ...

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The 401(k) / IRA IQ Quiz: How safe is your retirement?

retirement

While we all love the season of giving, there is one place that many are likely giving far more than they should: the Internal Revenue Service. As we’ve pointed out in our ...

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Dave Says: The partnership, not the family, is the problem

dave ramsey

Need some financial advice? Debt and income crisis? Pay off the house mortgage first? Check cashing? Taxes? Credit Cards? Check out what folks are asking Dave Ramsey.   Dear Dave, My two brothers-in-law ...

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President repeals church ‘parking lot tax’

parking lot

President Trump has signed the repeal of a tax law Congress passed that penalized churches and non-profits that had parking lots. The “parking lot tax” was an unintended aspect of the 2017 ...

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The ‘7% guaranteed’ annuity myth

One of the most common things I see when someone comes into our office for the first time if they own or have been pitched an annuity is the belief that the ...

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Need to amend a tax return? Here’s what you should know

Taxpayers may discover an error after filing their taxes. They shouldn’t panic, they just need to correct it by filing an amended tax return. Here are some common reasons to file an ...

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Dave Says – Helping is often more than just giving

dave ramsey

Need some financial advice? Debt and income crisis? Pay off the house mortgage first? Check cashing? Taxes? Credit Cards? Check out what folks are asking Dave Ramsey.   Helping is often more than ...

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Do you need help with your IRS problem?

The first IRS problem would be if you have not filed tax returns for several years.  After 3 years, the taxpayer will not get his refund if one is due him. The ...

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Beneficiary mistakes can cost a fortune

Beneficiary designations are important in determining where certain assets of an estate will end up. Many think that a will or trust is what determines where everything goes. This is not necessarily ...

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Democrat-run Illinois to impose car tax on trade-ins

car tax

Car dealers may have a busy New Year’s Eve if Illinois residents try to beat a significant sales tax expansion on vehicle trade-ins that starts in 2020. The state currently collects no ...

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Dave Says – You don’t fake poor

Need some financial advice? Debt and income crisis? Pay off the house mortgage first? Check cashing? Taxes? Credit Cards? Check out what folks are asking Dave Ramsey.   You don’t fake poor Dear ...

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