Chicago skyline aerial drone view from above, lake Michigan and city of Chicago downtown skyscrapers … [+] cityscape. The average rent in Chicago zip codes on the its lakefront rank among the top 10 most expensive in the city.getty Home prices have been through a whirlwind over the last three years, thanks mainly to the More
US President Joe Biden announces student loan relief on August 24, 2022, in the Roosevelt Room of … [+] the White House in Washington, DC. – Biden announced that most US university graduates still trying to pay off student loans will get $10,000 of relief to address a decades-old headache of massive educational debt across… More
MANHATTAN, NEW YORK, UNITED STATES – 2019/11/14: Immigration Court building entrance at 26 Federal … [+] Plaza in New York. (Photo by Erik McGregor/LightRocket via Getty Images)LightRocket via Getty Images An appeal of a Tax Court decision by a taxpayer who was found by the Tax Court to owe $90.86 should have an interesting story… More
New IRS changes would require some non-spouse beneficiaries to take RMDs and deplete the inherited … [+] IRA under the 10-year rule. getty The passing of the 2019 Secure Act changed the rules about when non-spouse beneficiaries must begin taking money from inherited retirement accounts. Starting in 2020, instead of stretching withdrawals over your lifetime,… More
WASHINGTON, DC – JANUARY 27: U.S. Education Secretary Miguel Cardona delivers remarks at the … [+] department’s Lyndon Baines Johnson Building on January 27, 2022 in Washington, DC. (Photo by Chip Somodevilla/Getty Images) Getty Images Hundreds of thousands of borrowers may qualify for federal student loan cancellation under a program designed to address school misconduct.… More
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
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