The market continued to surge higher as we said goodbye to 2020 and hello to 2021. Additional stimulus, mass vaccinations, and hopes for a return to a fully opened economy provided a nice backdrop for the market to further its…
On Thursday, March 11, 2021, the American Rescue Plan Act of 2021 (ARPA 2021) was signed into law. This is a $1.9 trillion emergency relief package that includes payments to individuals and funding for federal programs, vaccines and testing, state…
The interest that your savings bonds earn, regardless of whether you receive it, is subject to federal income tax, but not to state and local income tax. It is also subject to any federal estate, gift, and excise taxes as well as any state…
The U.S. Department of Education has designated February as Financial Aid Awareness Month, and this year there's a lot to talk about. On December 21, 2020, Congress passed the Consolidated Appropriations Act, 2021, another relief package in response to the…
As we wrap up 2020, we are all looking forward to brighter and more COVID-free days ahead. Year-end tax planning has never been more crucial. This year brought new challenges that can impact your personal and financial situations – COVID-19,…
Every year, the College Board releases updated college cost data and trends in its annual report. Although costs can vary significantly depending on region of the country and college, the College Board publishes average cost figures, which are based on…
In April 2020, the U.S. economy lost an astonishing 20.8 million jobs, by far the largest loss recorded in a single month dating back to 1939. To put this in perspective, the second largest monthly job loss was about 2…
Many IRA and retirement plan limits are indexed for inflation each year. While some of the limits remain unchanged for 2021, other key numbers have increased. IRA contribution limits The maximum amount you can contribute to a traditional IRA or…
Your income from two years prior is what counts on the FAFSA. For example, the 2021-2022 FAFSA will rely on income information in your 2019 tax return. FAFSA for 2021-2022 Academic Year Opens on October 1. The FAFSA (Free…
In March 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which provided a six-month automatic payment suspension on federal student loans through September 30, 2020. In August, the president signed a memorandum to extend federal student…