Andy | Saving to Invest

Should I File My 2021 Tax Return (in 2022) If I Am Still Waiting for 2020 Return to be Processed by the IRS?

Due to the significant backlog in processing of 2020 tax returns, filed in 2021, many are wondering if they can go ahead and file their 2021 return in the coming weeks or if they need to wait. As the IRS announced, the 2021-22 tax season will start from January 24th,…

Will Monthly Child Tax Credit Payments Continue in 2022 or Revert To Smaller Amounts For 2023 Tax Filings

Millions of families and households got use to getting a monthly dependent payment from the IRS in the second half of 2021. This payment, known as the advance child tax credit, was generally claimed via tax return filings in prior years. As part of Biden’s ARPA stimulus bill to provide…

How Will New Debt Collection Laws Impact Consumers?

When you are unable to pay debts or have debt that has gone to a collection agency it can be very stressful. The burden of a difficult financial situation is already anxiety-inducing without having to also worry about other issues. This can include questions about the legitimacy of the debt…

5 Tips for Paying Off Student Debt Faster Including via New Tax Breaks and Government Forgiveness Programs

Student loans has been a hot topic of late, which is not surprise given there are around 43 million Americans dealing with some form of active or delinquent student debt. Based on reports from the WSJ and data company MeasureOne, Americans owe around $1.6 trillion in federal student loans and…

What You Can Do Right Now To Make Filing 2022 Taxes in 2023 Easy!

Filing taxes can be a complex and stressful procedure for anyone and can be even more challenging if your finances are complicated or accounting is not your strong suit. Some people have said they would rather have a root canal then deal with a complicated tax return! This process is additionally…

2023 FHFA Conforming Loan Limits For Fannie Mae and Freddie Mac Mortgages Exceed $1 Million in Some Areas

The maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac has significantly from last year, per Federal Housing Finance Agency (FHFA) guidelines as shown in the table below. The conforming loan limits (CLL) are established under the terms of the Housing and Economic Recovery Act (HERA), and are…

How President Biden’s Recent Infrastructure Bill Can Help You (and Future Generations)

On November 15th, 2021, President Biden signed a $1 trillion infrastructure bill into law. Officially named the Infrastructure Investment and Jobs Act, this bill contains a wide variety of measures intended to stimulate the economy, make improvements to the infrastructure system (think transportation systems, telecommunications networks, utilities, etc.), and provide…

Crypto Tax Updates Under Trump: Navigating the New IRS Form 1099-DA

Cryptocurrency, once the wild west of finance, is quickly becoming a more mainstream investment. As with any financial asset, this growth has caught the attention of the IRS. The rules for reporting crypto transactions have been evolving, and 2025 marks a major turning point with the introduction of Form 1099-DA.…

Lowering Your Homeowners Insurance Costs In The Face of Rising Premiums

As many home owners have discovered, Homeowner's insurance premiums are becoming more and more expensive. This article covers some of the causes for its increase and which factors play the largest role in determining the price of premiums. Most importantly, we will also cover ways you can offset the cost…

401k, IRA and Roth IRA Contribution Limit Increases

The IRS has released the latest 401(k), IRA and Roth individual contribution limits including income qualification and phase-out thresholds. See the tables below for limits and changes over the last few years. 401(k) Limits IRA Limits Tax deductible IRA contributions are based on qualifying income ranges and spousal participation in…

The Bottom Line on What Not Getting Vaccinated Will Cost Unvaccinated Workers

Wherever you stand on the COVID-19 vaccination debate, there is little doubt that after January 4th the updated White House Guidelines around mandatory vaccinations will hit unvaccinated workers personal finances -whether they stay with their employer or quit. With more than 745,000 Americans having died from COVID and over 70,000…

Is The Great Resignation Becoming The Great Regret? Many Early Retirees Now Regret Quitting Their Jobs

As economic conditions worsen, inflation soars and a recession looms, many workers who quit and retired early as part of the great resignation are now seemingly having second thoughts about leaving their jobs sooner than planned. According to a Bloomberg report, nearly 20 million Americans who quit their jobs in…

Signs You Are Struggling With Going Back To Working In Person at the Office

As the world gets back to a new normal after countless months of pandemic induced change many working professionals are finding it difficult in adjusting back to the way things used to be. In particular going into the office on a regular basis while trying to balance personal/life commitments has…

Expanded Advanced Monthly Child Tax Credit NOT Extended

While Biden's Build Back Better (BBB) bill has proposed funding that will allow the expanded child credit to be paid in monthly installments in 2022 it has been held up in Congress as Sen. Joe Manchin of West Virginia is refusing to endorse the CTC extension and overall bill without limiting the payment to…