Grandfather and his grandkids getty Adequately funding your retirement should be your first priority, but what if you also want to contribute to your grandkids’ education? We asked Larry Mathis, CEO of Mathis Wealth Management in Phoenix, Ariz., to explain how to do both. Larry Light: Is it true that one of the best things… More
This case was heard in Atlanta. getty Plaintiff, Richard McLeod, obtained a default judgment for $62,640 in the U.S. District Court for the Middle District of Georgia against defendants Robert Bruce, Mark Nichols and Clint Nichols. Seeking to be paid on his judgment, McLeod send garnishment summons to three banks for any accounts held by… More
LLC Law Is Seriously Messed Up When It Comes To Charging Orders getty Exela Technologies, Inc., is a business automation company which has numerous subsidiaries. Some of these subsidiaries in multiple layers. One of these subsidiaries, SourceHOV Holdings, Inc. XELA , (“Holdings”) was involved in a merger of other Exela subsidiaries, in which the surviving… More
The latest guidance for the Paycheck Protection Program solves a problem related to deductions, but … [+] also brings a decision on when to claim the benefit. getty If you received a Paycheck Protection Program (PPP) loan, but did not deduct payroll expenses on your 2020 tax return, this is what you need to know.… More
Couple enjoying a sailing cruise. getty  The House Ways & Means Committee is once again tinkering with the law that requires retirees to take minimum distributions from their individual retirement accounts (IRAs) and 401(k)s. Each time, Congress eases the required minimum distribution (RMD) rules at great cost to the federal government. Yet the beneficiaries would… More
Students and parents sometimes don’t know where to look for financial aid for college and how to apply. Financial aid can be intimidating because it involves an alphabet soup of acronyms, almost like speaking a new language. However, there are just a few simple steps you must take to get the money you need to… More
Problems with taxes. Handcuffs and money. Tax evasion concept. getty When my grandmother was with us, I took care of her finances including filing her tax return every year. Her return was very simple, and I usually finished it well ahead of the April 15th deadline. One year, I completed it in early March and… More
Now that the 2020 is over, remorse may set in and you may be left wondering if you should have done something different to save taxes. A common question I hear is whether it make sense for retirees to take their required minimum distributions (RMDs) now or if they should save taxes by taking them… More
WASHINGTON, DC – JULY 17: Jovita Carranza, administrator of the U.S. Small Business Administration … [+] (SBA), speaks as Steven Mnuchin, U.S. Treasury secretary, left, listens during a House Small Business Committee hearing on July 17, 2020 in Washington, D.C. The hearing is titled “Oversight of the Small Business Administration and Department of Treasury Pandemic… More
Mistakes seniors make with HECM Reverse Mortgages getty FHA insured reverse mortgages, called HECMs, allow seniors to withdraw cash from their home while retaining the right to live there indefinitely. They are a potentially powerful tool for helping seniors live better lives during their retirement years. However, the benefits can also be frittered away, with… More
The U.S. Senate passed the Stop Student Debt Relief Scams Act on December 1, 2020 by unanimous consent. The legislation now proceeds to the U.S. House of Representatives for consideration. The Stop Student Debt Relief Scams Act bans fraudulent access to U.S. Department of Education … [+] computer systems using a borrower’s FSA ID. getty… More
President Donald Trump (Photo by Tasos Katopodis/Getty Images) Getty Images Student loans may be due again starting January 1. If so, make sure you do these 7 things. Here’s what you need to know. Student Loans If Congress or President Donald Trump doesn’t extend student loan relief, your student loans will be due starting January… More
It is almost impossible to discharge student loans in bankruptcy. Only about 1 in 2,500 student loan borrowers who file for bankruptcy succeed in obtaining a full or partial discharge of their student loans. Nevertheless, there are several ways that borrowers can qualify for a bankruptcy discharge. Here’s how. Student loan borrowers may be able… More
getty A car insurance, also called motor insurance, offers financial protection to your vehicle against accidents, burglary, theft, fire, natural calamities such as a storm or, earthquake, and other unforeseen circumstances. Every car that runs on Indian roads is expected to have a basic third-party insurance policy made mandatory by the Indian federal government under… More
It seems like a new student loan forgiveness plan is being touted every few months, and this continues as the student loan debt crisis deepens further. Recently, the House of Representatives even got in on the fun, suggesting $10,000 in federal student loan forgiveness in the original HEROES Act proposal. Joe Biden’s campaign has also… More
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