Update on Stimulus Checks as of Tuesday April 7th-Stimulus Package

Filed unemployment on your tax return? IRS is recalculating the amount you owe, and you MAY receive another refund check!

Normally, any unemployment compensation someone receives is taxable. However, a recent law change allows some recipients to not pay tax on some 2020 unemployment compensation. The IRS will automatically refund money to eligible people who filed their tax return reporting unemployment compensation before the recent changes made by the American Rescue Plan. These refunds are expected to begin in May and continue into the summer. Under the new law, taxpayers who earned less than $150,000 in modified adjusted gross income can exclude some unemployment compensation from their income. This means they don’t have to pay tax on some of it. People who are married filing jointly can exclude up to $20,400 – up to $10,200 for each spouse who received unemployment compensation. All other eligible taxpayers can exclude up to $10,200 from their income. Information for people who already filed their 2020 tax return This law change occurred after some people filed their 2020 taxes. For taxpayers w...

PART 3 Turning Tragedy to Victory--How I saved $10,000 in 10 months

It's April 20th, 2017. I get an email from my attorney requesting a meeting. The prosecution wants to offer me a deal. Probation. The chance to ensure that I stay home with my kids, and the fact that I can avoid another $10-15 thousand in lawyer fee's in exchange for representation at trial? An offer so tempting, I could not refuse. Regardless of how innocent I felt, I just couldn't pass. But with my offer came my husband's offer: Ten years in prison. I had been upset with my husband while we were separated. For so many reasons, I was just angry. But ten years in prison, without our children? That hurt more than anything. I hurt for my kids and I hurt for my husband. He had never been to prison and for this sentence to be so long. The truth is that he had done some bad things that were very wrong and very illegal. But He was a great dad. Always was a great father. May 22nd 2017 we woke up, got the kids ready for school and daycare and dropped t...

Making Your Tax Refund Last!

Greetings and money blessings to you my friends! Oh how quickly time flies. Tax season has approached us yet again. For those of us who pay taxes annually, it's a somber time and also a procrastination to stretch the dreadful filing out to April 15th. However, for those of us who receive refunds from our Federal government and state agencies it is a wonderful and stimulating time 😉😉😉. I have a few tips to make that money stretch possibly until the following tax season. Choose a 'Don't Touch Me Amount' Have a pre-determined amount in your mind that you will set aside upon immediate receipt of your refund. This could be a start to your savings account or an addition. My recommended amount would be 50% of your refund or more. That sounds like a lot, however this is additional income. If you have been able to survive without it the last 11 months, then you will be able to survive with out it again! Budget the Remaining Money Let's say your to...

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