Let’s review the four types of college application options and their requirements and deadlines. The four types of college application options are early decision (ED), early action (EA), regular decision (RD), and rolling admissions (RA). All have different requirements and different, but critical, deadlines. If your application is stellar, but not submitted on time, […]
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College planning is fraught with little-understood concepts that parents and students need to understand in order to choose the best school for their family situation. One of the most important and least understood aspects of college planning is the Expected Family Contribution or EFC. The EFC is an index number of a family’s ability to
The word investing conjures in the popular imagination of non-investors the get-rich-quick schemes of Jordan Belfort or Bernie Madoff. However, the overwhelming majority of investments are made by honest, hardworking Americans who take advantage of America’s brilliant economic systems formulated by the first Treasury Secretary, Alexander Hamilton. Someone interested in investing need only know the
The Basics of Investing Read More »
As part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the U.S. Treasury and the IRS are starting to send nearly 4 million Economic Impact Payments (EIPs) by prepaid debit card, instead of by paper check. EIP Card recipients can make purchases, get cash from in-network ATMs, and transfer funds to their personal
Economic Impact Payment (EIP) Cards Mailing Soon Read More »
Who is Eligible? U.S. residents will receive the Economic Impact Payment of $1,200 for individual or head of household filers, and $2,400 for married filing jointly if they are not a dependent of another taxpayer and have a work eligible Social Security number with adjusted gross income up to: $75,000 for individuals $112,500 for head
Information About Your Economic Impact Payment or Stimulus Check Read More »
In normal times, after reaching the magic age, you must start taking annual required minimum distributions (RMDs) from traditional IRAs set up in your name (including SEP-IRA and SIMPLE-IRA accounts) and from tax-favored company retirement plan accounts. The magic age is 70 1/2 if you attained that age before 2020 or 72 if you attain
More Good News! CARES Act Suspends RMDs for 2020 Read More »
Good News! COVID-19 IRA Withdrawal up to $100,000 If you are an IRA owner who has been adversely affected by the COVID-19 pandemic, you are probably eligible to take tax-favored distributions from your IRA(s). A COVID-19-related distribution is a distribution of up to $100,000 from an eligible retirement plan, including an IRA, that is made
Good News! COVID-19 IRA Withdrawal up to $100,000 Read More »
