Refunds for $10,200 unemployment tax break start in May
Normally when you receive unemployment compensation the full amount is considered taxable income, but the rules are different this year. The American Rescue Plan included a new unemployment exclusion to give recipients a much-needed break on their 2020 tax return. The...
Tips for traveling safely during Covid-19
After being stuck at home for the last year, you’re probably anxious to take a vacation. However, the CDC recommends holding off until you’re fully vaccinated. This is defined as 2 weeks after you've taken the final dose. Even if you are vaccinated, you still need...
3 types of debts to avoid at all costs
Most people have some form of debt whether it’s a car, mortgage, etc. As long as you’re making your monthly payments on time, it’s not a big deal. It can even help build credit history and boost your credit score. However, there are some types of debt that can...
What to know about coronavirus unemployment benefits
The latest relief bill has expanded the unemployment benefits for millions of Americans who have been out of work since the pandemic began. Self-employed workers and independent contractors don’t qualify for traditional unemployment benefits, but they may be eligible to...
Special enrollment period for health insurance extended to August 15th
Still need health insurance for 2021? Well, you’re in luck. The Special Enrollment Period has been extended to August 15th due to COVID-19. This is your chance to enroll in a new plan or make changes to a plan you already have. Thanks to the American Rescue...
How to claim missing stimulus payments on your 2020 taxes
Still missing a stimulus payment? If so, stop waiting and act now. You’re going to need to file your 2020 tax return to get the money you’re owed. The sooner you file, the faster you’ll get paid. Here’s who qualifies and how to claim the missing funds. Who...
Tax Filing Tips for Procrastinators
Because of the COVID-19 scourge, the deadline for filing your federal tax return (and paying a balance due if you have one) is extended to May 17th. And while the thought of doing your taxes may be intimidating, there’s no reason to wait or procrastinate. Online self-preparation tax...
Amend your tax return to correct a filing mistake
Nobody likes to make mistakes, especially when it comes to taxes. But accidents happen. If you didn’t get your return right the first time, you can fix it using Form 1040-x, Amended U.S. Individual Income Tax Return. You must file an amended return within three years of...
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