5 Proposed Changes to Retirement Savings Laws Under SECURE 2.0 By: Stacey Nickens You may have experienced changes to your retirement savings plan when the SECURE Act passed in 2019. Since then, lawmakers have continued to develop additional legislation with the hopes of making it easier to contribute to and withdraw from retirement savings [...]
Many Georgia Taxpayers to Receive Additional Refund By: Stacey Nickens Many Georgia taxpayers will be receiving a bonus refund this spring. Once you file your 2021 state income return, the Georgia Department of Revenue may send you a one-time refund of up to $500 for joint filers, $375 for head of household filers, or [...]
What does the interest rate increase mean for you? By: Stacey Nickens This past St. Patrick's Day, your pot of gold may have felt a bit emptier than usual. Between the higher cost of living and market volatility, your savings might be taking a hit. The Fed does recognize these inflationary concerns, and during [...]
Many Medical Debts Will Be Removed from Credit Reports By: Stacey Nickens If medical debt is impacting your credit score and report, you may benefit from some upcoming changes to consumer credit reports. Beginning this summer, Equifax, Experian, and TransUnion will be making significant changes to the ways medical debt is reported on credit [...]
Locking In a Low Mortgage Interest Rate By: Stacey Nickens Mortgage interest rates have remained low for the past few years, benefitting homebuyers looking for affordable monthly payments. However, the Fed raised the benchmark federal funds rate at the end of their March meeting, and this decision will likely raise mortgage rates. As of [...]
Every tax season, I hear many versions of the above question. Clients ask if they should spend more through their business or take on a larger mortgage in order to save on taxes. While you should consider the tax implications of these decisions, you should first consider what is best for your family and [...]
Roth IRAs are popular savings vehicles because they could reduce your taxable income in retirement. You contribute after-tax dollars to a Roth IRA or 401(k), meaning that eventual distributions likely will not be taxed. There are a number of reasons to contribute to a Roth IRA or 401(k): You can hedge against increased taxes. [...]
I sold my home in 2021. Will I face a large tax bill? By: Stacey Nickens Because owning a home is considered an investment, selling a home can lead to taxable capital gains. However, you can exclude a certain amount of those capital gains on your tax return, and if you save receipts and [...]
At the beginning of every year, your mailbox and inbox is likely inundated with tax forms. You may use these forms to file your own return or hand them off to a tax preparer. Either way, what should you do with these forms at the end of tax season? In general, you should keep [...]
Elm3's Guide to the 2021 Child Tax Credit By: Stacey Nickens The Child Tax Credit both increased in 2021 and was delivered in a different manner. Unless you unenrolled from advanced payments, parents received monthly payments of their Child Tax Credit. In total, these advanced payments should equal half of the total credit that [...]
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