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Take Advantage of These Tax Breaks Before They Disappear

2021-11-19T15:18:45-05:00November 19th, 2021|Blog|

Take Advantage of These Tax Breaks Before They Disappear By: Stacey Nickens Year-end tax and financial planning is always important. However, the third stimulus payments and changes to the 2021 child tax credit make year-end tax planning especially important this year. Tax payers should be aware of the income thresholds for certain tax benefits. Those [...]

Standard Deduction and Income Thresholds Increasing in 2022

2021-11-12T12:38:42-05:00November 12th, 2021|Blog|

Standard Deduction and Income Thresholds Increasing in 2022 By: Stacey Nickens This past week, the IRS announced the 2022 tax brackets. With inflation on the rise, the IRS has raised the income thresholds for each tax bracket as well as the size of the standard deduction. Both tax brackets and the standard deduction will rise [...]

Social Security Will Increase Significantly in 2022

2021-10-18T13:38:19-05:00October 18th, 2021|Blog|

Social Security Will Increase Significantly in 2022 By: Stacey Nickens Retirees will see a large increase in their Social Security benefits in 2022. Last week, the Social Security Administration announced that the cost-of-living adjustment will be 5.9% in the upcoming year. However, seniors should keep in mind that benefits are increasing because inflation is increasing. [...]

Retiring This Year? 3 Money Moves To Make Right Now

2021-10-15T11:37:24-05:00October 15th, 2021|Blog|

Retiring This Year? 3 Money Moves To Make Right Now By: Stacey Nickens Congratulations! You have worked hard your entire life, and you are ready to rest and enjoy the fruits of your labor. As a financial advisor, I have loved assisting so many clients in moving into and through retirement. As you get closer [...]

3 Investment Opportunities to Hedge Against Inflation

2021-07-19T13:16:23-05:00July 19th, 2021|Blog|

3 Investment Opportunities to Hedge Against Inflation By: Stacey Nickens Inflation rapidly accelerated in June, with the consumer-price index increasing 5.4% from a year ago. This is the highest 12-month rate increase since August 2008, but don't panic just yet. A number of factors contributing to inflation are temporary. Supply shortages will likely subside, as [...]

3 Common Mistakes People Make When Claiming Social Security

2021-07-16T16:22:53-05:00July 16th, 2021|Blog|

3 Common Mistakes People Make When Claiming Social Security By: Margaret Nickens Social Security helps many Americans fund their retirement, but sorting through all of the different claiming strategies and rules can be challenging. Retirees may end up claiming their Social Security benefits too early or claiming in a manner that doesn't best meet their [...]

IRS Begins Issuing Unemployment Income Exclusion Refunds

2021-05-21T10:52:58-05:00May 21st, 2021|Blog|

IRS Begins Issuing Unemployment Income Exclusion Refunds By: Stacey Nickens The IRS announced that they will begin issuing refunds to taxpayers who paid taxes on their 2020 unemployment benefits. The American Rescue Plan Act legislated that up to $10,200 in unemployment compensation per individual could be excluded from taxable income. However, by the time the [...]

Stimulus Checks Delayed for Some Social Security Recipients

2021-03-29T16:12:22-05:00March 29th, 2021|Blog|

Stimulus Checks Delayed for Some Social Security Recipients By: Stacey Nickens Almost 30 million Social Security and Supplemental Security Income (SSI) recipients will be experiencing a delay in receiving their third stimulus checks. The Social Security Administration (SSA) initially failed to send necessary information to the IRS. However, after a letter from four Congressmen prompted [...]

Tax Changes Made by the American Rescue Plan Act

2021-03-22T16:30:02-05:00March 22nd, 2021|Blog|

Tax Changes Made by the American Rescue Plan Act By: Stacey Nickens The American Rescue Plan Act was signed into law on March 11, providing for a third round of stimulus to some American families. Taxpayers and their dependents may each be eligible for up to $1,400 in stimulus payments. In addition to these payments, [...]

Tax & Funding Provisions in the Proposed Stimulus Package

2021-02-26T14:39:47-05:00February 26th, 2021|Blog|

Tax & Funding Provisions in the Proposed Stimulus Package By: Stacey Nickens The House is expected to pass a $1.9 trillion coronavirus relief package today, after which the legislation will head to the Senate for approval. Beyond providing additional stimulus, the package includes an increase in the child tax credit, additional funding for small business [...]