Despite the coronavirus pandemic, 2020 was another fantastic and charitable year for donor-advised funds (DAFs). When the markets initially plunged and fundraisers were no longer allowed to happen in person, DAF donors stepped up to support both their favorite charities and others that addressed critical needs. When markets bounced back, donors continued to give, and…
The IRS has tons of rules and forms when it comes to your tax return. And a ton of those rules affect investing for retirement, so we rounded them up in one place. Below are some of the many limits that affect your retirement savings for the 2021 tax year. Click here for this downloadable…
The pandemic has disproportionately impacted low-earning Americans and many are paying higher bank fees for their misfortune, according to a new survey. Those financially hurt by COVID-19 are paying checking account fees that are four times higher than unaffected households with uninterrupted employment and income, a new Bankrate survey found. YouGov interviewed 2,743 adults online…
Brad Sherman has been named one of the best fee-only financial planners in the Washington, DC area by Washingtonian Magazine! Every 1-2 years, Washingtonian Magazine publishes a list of the Washington, DC metro region’s top financial professionals. To create the list, the editors of Washingtonian survey hundreds of individuals in the local financial services industry,…
The popular Paycheck Protection Program (PPP), which provides forgivable loans to small businesses to keep them afloat during the pandemic, will reopen with a few changes as the federal government attempts to better target the money to the underserved, smaller businesses that need it most. Below you will find some key facts from the updated…
As we kick off 2021 and you begin thinking about money moves you want to make this year, we want to provide you with some insights on a common rollover and some costly mistakes associated with it. A good place to start is by distinguishing the difference between 401k plans and IRAs. You may be…
Do you know how much money is being withheld from your pack check? Probably not. In fact, 45% of the people polled by the American Institute of CPAs said they don’t know when they last reviewed the amount of tax withheld from their paychecks. Truthfully, many people we talk to do not really understand their…
Do you fight about money with your spouse or significant other? Do you have trouble following a budget – assuming you even have one? If so, you might want to consider seeking financial therapy, coaching, or a financial advisor. What is financial therapy? Think of it like psychotherapy. But instead of improving your state of…
November was a big month for the stock market, signaling that Wall Street sees better things ahead for the economy in 2021. Between the coronavirus pandemic, the election, vaccine news, and where we were just nine months ago, it’s hard to believe that our stock market is breaking record highs these days. It will be…
Credit score is an essential part of your financial life, setting you up for success in the long-term. Whether you are a recent college graduate, starting your first job, or in your 40’s and a mid-career professional, credit score remains equally as important. While it’s extremely important to save money when you are first starting…