- States With the Largest Tax Bills – 2021 Edition
Tax time is taxing, especially if you owe money to the IRS. Complex questions can lead taxpayers to seek out a tax preparer or a professional financial advisor to minimize their tax liabilities. But with this year’s delayed filing season officially under way on Feb. 12, those who underpaid on their taxes throughout last year… read more…
- RIA vs. Broker-Dealer: What You Need to Know
A financial advisor can help you shape your investment strategy so you can reach your long-term goals. But financial advisors aren’t all alike when it comes to their expertise and experience or the type of advice they’re qualified to offer.… read more…
- What Is a Certified Professional Retirement Coach (CPRC)?
Making the transition from working life to retirement presents a number of challenges ranging from how you’ll pay your living expenses to how you’ll occupy your time. The Certified Professional Retirement Coach is a professional designation that indicates a retirement… read more…
- What Is a Certified Specialist in Estate Planning (CSEP)?
Estate planners help people figure out how to pass assets to their heirs without losing too much to taxes, while also planning charitable bequests and addressing other matters relating to estates. It’s a complex task, involving a labyrinth of Internal Revenue Service regulations, court rulings and federal and state laws. Financial professionals who work with… read more…
- Where Black Americans Fare Best Economically – 2021 Study
Nationwide, when it comes to wealth and personal finance success, Black Americans generally have less. Census data from 2019 shows that the median Black household income is 33% lower than the overall median household income and the Black homeownership rate is 22 percentage points lower than the general homeownership rate. Data on wealth accumulation depicts… read more…
- GameStop Stock Price Spike: Understanding Reddit’s WallStreetBets Short Squeeze
GameStop’s (GME) share price convulsions are riveting Wall Street and the rest of the U.S. financial establishment. Between Jan. 11 and Jan. 26, 2021, shares of the Grapevine, Texas-based company rocketed more than 1,600%, and in the middle of that ascent briefly tumbled 43%. Then, after closing out January at $328.24 – up from $18.84… read more…
- American Rescue Plan: Inside Biden’s $1.9 Trillion Stimulus
President Joe Biden has signed American Rescue Plan, a $1.9 trillion stimulus package to help offset the impacts of the COVID-19 pandemic, which has wreaked havoc on the economy and left many Americans struggling to pay their bills and support their families. The House and Senate have both passed their own versions of the bill;… read more…
- What Is a Certified College Financial Consultant (CCFC)?
When families are wrestling with the challenge of paying the costs of higher education, a certified college financial consultant (CCFC) can help. CCFCs have gotten specialized training in education funding, including tax consequences, credits and student loans. Most of the… read more…
- Liquid Net Worth: Definition and Calculation
As you assess your short- and long-term financial goals, it may be helpful to compare the value of your assets to that of your liabilities. That’s where net worth comes in; this value can ultimately help you determine whether you… read more…
- What Is Holistic Financial Planning?
Working with a financial advisor can help you craft a plan for paying down debt, saving and investing to build wealth. But financial advisors aren’t all alike when it comes to the approach they take for offering advice. Advisors that… read more…
- COVID-19 Second Stimulus Bill Unemployment Provisions
In late December, President Donald Trump signed a bill sent to him by the U.S. Congress creating a $900 billion stimulus package to deal with the economic fallout from the COVID-19 pandemic and accompanying economic downturn. This is the second stimulus bill passed in response to COVID-19, following the Coronavirus Aid, Relief and Economic Security… read more…
- Am I Responsible for My Deceased Spouse’s Debt?
The death of a spouse can be emotionally and mentally trying on many levels. There may also be financial stress if a spouse leaves behind credit card debt, outstanding loans or other monetary obligations. You may be wondering: Am I… read more…
- Can I Inherit a Home While Receiving SSI?
If you’re receiving Supplemental Security Income (SSI) payments, you might be wondering, “Can a person on SSI inherit a house?” Ordinarily, inheriting a home is a financial windfall. But for someone receiving SSI payments, it can present a problem, and potentially be a serious financial drawback. This is due to the fact that there is… read more…
- How a Prenuptial Agreement in Texas Works
Texas is a community property state, which means that all assets and property either partner in a marriage acquires during the marriage is jointly owned by both spouses. Anything a partner brings to the marriage is generally considered separate property… read more…
- Are Your Financial Advisor Fees Tax-Deductible?
Working with a financial advisor can help you shape your financial plan when it comes to things like budgeting, saving, investing and retirement planning. Just like with any other service, you’ll have to pay fees for a financial advisor. One… read more…
- A Guide to Financial Advisor Debt Counseling
Credit cards, student loans and other types of debt can be a hurdle to reaching your long-term financial goals. If managing your finances on your own is getting overwhelming, you might seek out a financial advisor for debt help. While… read more…
- Second Stimulus Bill: Paycheck Protection Plan Loans
Following President Trump’s signing of the second coronavirus stimulus bill into law on Sunday evening, December 27, small businesses around the country may have another chance to apply for forgivable loans through the Paycheck Protection Program. This program began with the first coronavirus stimulus package, passed in March 2020. It allows companies who have been… read more…
- How to Build a Family Financial Plan
Family financial planning can help you create a comprehensive strategy for managing your money as you move through different life stages. It starts with the basics – setting up a budget, paying down debt and saving – but a family… read more…
- Will My Inheritance Affect My SSI Benefits?
If you receive an inheritance while you are getting federal Supplemental Security Income (SSI) benefits, it could make you ineligible to receive any more benefits. Federal law requires you to report to the Social Security Administration if you are the… read more…
- Is an Inheritance Considered Marital Property?
Assets inherited by one partner in a marriage can be considered separate and owned only by that partner. However, inheritances can be ruled as marital property jointly owned by both partners and, therefore, subject to division along more or less… read more…
- A Guide to Selling Inherited Property
Inheriting valuable property such as a home, securities, bank accounts and retirement accounts from a deceased relative can be a major financial windfall. But converting inherited property such as a home into cash by selling it may require following a… read more…
- What to Do When You Inherit a House
Inheriting a residential property like a house marks the end of a life and the beginning of deciding what to do with the property and implementing that plan. The considerations in handling a house inheritance include taxes, financial issues like… read more…
- Understanding How to Buy Commercial Real Estate
Buying commercial real estate can diversify an investment portfolio and provide potentially greater returns than residential properties. Commercial buildings, including office, retail, warehouse and industrial factories, commonly carry higher prices and require more ongoing costs to manage than residential properties.… read more…
- Second Stimulus Package for COVID-19
On Sunday evening, December 27, President Trump signed into law the $900 billion second stimulus package for COVID-19 relief that will provide $600 checks to individuals, $300 in enhanced unemployment checks some $284 billion in Paycheck Protection Program (PPP loans) for small business relief and additional funding for schools, small businesses and vaccine distribution. Given… read more…
- Second Stimulus Checks: When You’ll Get Them, and How to Track Them
Eight million Americans could still qualify for first and second rounds of stimulus checks and may have not yet received their money. President Joe Biden signed an executive order on January 22 that tasks the Treasury Department with getting relief to millions of eligible recipients who did not get financial assistance. If you expected a stimulus… read more…