Montjoy, Charles A. Jr. and Montjoy, Joan L. to Montjoy, Charles A. Jr. and Montjoy, Joan L., Lot G-24, Gatewood Sub.
I have some good news. Last week, I provided you with a test to take to determine whether you are “financially literate.”
Since promoting financial literacy is a lifelong personal mission, I’m always looking for ways to encourage self-assessments to determine if more education is needed.
Does everyone with earnings have to file a tax return? What about an elderly parent who gets a Social Security check but has no other income, or a teenager whose sole earnings are from occasional or seasonal part-time work?
Millions of people who could possibly benefit from getting a check from the U.S. Treasury don’t. They are eligible to receive, in the words of the IRS, “the federal government’s largest benefit for workers,” the EITC (earned income tax credit).
No doubt, you’ve been reading about the SECURE Act’s impact on retirement accounts. The SECURE Act was passed in December 2019. Regulations have not been issued as of yet, so be sure to talk with your attorney or accountant before taking any action.
It’s a new year! If you are one of the millions (99 million, according to WalletHub, a personal finance website) who make New Year’s resolutions, have you started working on any of them?
Last week, we talked about the law on required minimum distributions (RMDs) for 2019. As anticipated, the president signed the SECURE Act into law on Dec. 20. As a result, beginning in 2020, RMDs will be subject to some new rules. (If you would like a copy of my May 23, 2019, column on the S…
The SECURE Act, which affects retirement accounts, may be signed into law by the time you read this. I’ll update you next week. In the meantime, let’s talk about the law on required minimum distributions (RMDs) as it stands right now.