There has been Important changes to the Child Tax Credit that will help many families get advance payments of the credit starting this summer. The IRS will pay half the total credit amount in advance monthly payments beginning July 15. You will claim the other half when you file your 2021 income tax return. These…
Did you lose your company 401(k) when switching jobs? Well, you may be in luck. There is a proposed retirement legislation that’s pending in Congress that will be proposing a “lost and found database to help locate those accounts”. As people change their jobs from one company to another — “the average is 12 jobs,…
Just tied the knot? Or getting ready for the big day? Well, no matter the situation, you are about to take the next step with your partner and should probably start thinking about next steps for your financial future. Below we will list some newlywed topics to think about when taking those next steps with…
We know the past year and a half has been quite the whirlwind, and as we approach summer and the economy continues to re-open, we want to bring light to some financial stress individuals may be facing. Federal student loan payments are set to resume on October 1, after an unprecedented 19-month suspension that was…
Even though the coronavirus pandemic over, retirement accounts are thriving. Retirement account balances, which took sharp declines almost exactly one year ago, have now bounced back entirely, according to the latest data from Fidelity Investments, the nation’s largest provider of 401(k) savings plans. “Despite recent losses in the market, from January 2020 to the beginning…
Despite the pandemic, do you still find yourself being charitably inclined? Most affluent Americans — about 90% — gave to charitable causes in 2020, with a third of them giving more than in the past to organizations focused on meeting basic needs, according to research from the Bank of America and the Indiana University Lilly…
The coronavirus pandemic sent Americans’ financial situations into a whirlwind. A recent Bankrate survey found that the crisis actually caused many consumers to re-evaluate how much money they plan to save in their emergency fund. The coronavirus pandemic also led many people to think about financial regrets and mistakes they’ve made in the past and…
Are you young and jump starting your career? Heading up the corporate/financial ladder but still worried you will not reach your financial goals? Don’t fret, many others out there are in the same boat, especially millennials. We have been writing about millennials and their increasing wealth in previous blogs, however, we have yet to touch…
So What Else needs your help! 2020 was an unbelievably difficult and challenging year for most of us. Beginning on March, 9 2020, So What Else (SWE) began a tremendous undertaking and started one of the most successful emergency hunger relief and support programs in the Greater Washington Area. Food was donated to us from…
529 plans are not only a great estate-planning tool way to save for your children or grandchildren’s’ college tuition, but they have another added bonus too. Under this new tax law, individuals can make a lump-sum 2021 gift of up to $75,000 to fund a 529 college savings account for a child or grandchild and…