Financial literacy is the ability to understand and effectively use a variety of financial skills. Examples are money management, budgeting, investing, etc. According to Investopedia, people who are financially literate are less vulnerable to financial fraud and are more likely to achieve certain life goals such as saving for big life events, using debt responsibly,… Read More
Legislation has officially passed for taxpayers to obtain a third stimulus payment. The third round of Economic Impact Payments will be based on the taxpayer’s latest return from either 2020 or 2019. Payment Breakdown $1,400 for single filers $2,800 for married filing jointly An additional $1,400 for each dependent Individuals earning up to $75,000 would… Read More
On Thursday, March 11, the President signed into law the $1.9 trillion American Rescue Plan. While this does include another stimulus payment for eligible taxpayers, it also includes a large one-year increase to the Child Tax Credit. What is a Child Tax Credit? Child Tax credits were implemented to assist parents and/or caregivers to help… Read More
With the economic stimulus payments that were distributed in 2020, many questions have arisen. What happens if I didn’t receive my payment? What if I only received partial payment? What if I received it all? We will address what you should do for each of these scenarios as we head-dive into tax season. What amount… Read More
As tax season arises, so do hundreds, if not thousands, of scammers. Scammers will try to take advantage of taxpayers by pretending to be the IRS, asking for personal information, or even hacking your email. Due to COVID-19, more taxpayers are receiving unemployment benefits opening the door for fraudsters to access this information, too. In… Read More
Business owners have a lot of accounting to juggle. You are responsible for bills of the business, payroll, accounts receivable, accounts payable, receipts, miscellaneous items, and much more. It’s vital for businesses to keep good records, and QuickBooks is a software that is used often by business owners. While QuickBooks is commonly used, there are… Read More
If 2020 has taught us anything, it’s that emergencies can happen to anyone at any time. Emergencies can range from natural disasters, medical emergencies, job loss, etc. Life is full of curveballs, and we cannot always control what happens, but we can do our best to be financially prepared. What is an emergency fund? Emergency… Read More
Your resolutions are set. Your vision board is complete. Your goals are written. You are ready for the year ahead. While big goals are a great way to set the path for your year ahead, there are things to keep in mind daily that will set you on the path to success in 2021. Do… Read More