23 06, 2020

Stimulus Checks and Taxes

2020-06-23T10:43:27-07:00June 23rd, 2020|Tax|0 Comments

The IRS published a notice stating the Notice 1444 that was mailed to you showing your Stimulus payment benefits is an important document to keep with your 2020 tax documents.  This will be used to reconcile the amount you received AND especially important if you feel your payment was inaccurate. CLICK HERE to read the [...]

22 06, 2020

Women and Home Buying

2020-06-22T10:36:22-07:00June 22nd, 2020|financial|0 Comments

A strong force in the housing market: single women Jerry DuPaw of Guaranteed Rate shared a great article: READ FULL ARTICLE   Investment advisory services offered through Brookstone Capital Management, LLC (BCM), a registered investment advisor. BCM and Carla Merlak/Merlak Tax Advisory Group, Inc. are independent of each other. Insurance products and services are not [...]

28 04, 2020

The CARES Act and Unemployment

2020-04-28T16:41:08-07:00April 28th, 2020|financial|0 Comments

CARES Act – Unemployment  Unemployment Benefits - Unemployment insurance provisions now include an additional $600 per week payment to each recipient for up to four months, and extend UI benefits to self-employed workers, independent contractors, and those with limited work history. The federal government will provide temporary full funding of the first week of regular [...]

28 04, 2020

The CARES Act and Student Loans

2020-04-28T16:37:15-07:00April 28th, 2020|Law Changes|0 Comments

CARES Act – Student Loans Student loan borrowers now have more benefits to consider when planning for the potential financial impact from coronavirus. A new federal law, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, provides automatic suspension of principal and interest payments on federally-held student loans through September 30, 2020. These suspended payments [...]

28 04, 2020

The CARES Act and Charitable Contributions

2020-04-28T16:31:19-07:00April 28th, 2020|financial, Law Changes|0 Comments

CARES Act – Charitable Contributions  What changed: The CARES Act includes three major changes to charitable giving.  The first change relates back to RMD suspensions for 2020. You can still do a qualified charitable distribution (QCD) of up to $100,000 from your IRA to a qualified charity in 2020. The direct distribution to a charity would not show [...]

28 04, 2020

The CARES Act and IRA Distributions

2020-04-28T16:24:40-07:00April 28th, 2020|financial|0 Comments

IRA Distribution Exceptions – New coronavirus-related distribution exception  What changed: A coronavirus-related distribution is one that is made after January 1, 2020 and before December 31, 2020 for an individual or their spouse who is diagnosed with COVID-19 or if they experienced adverse financial consequences caused by the coronavirus, such as being laid off, having hours [...]

28 04, 2020

The CARES Act and RMD Changes

2020-04-28T16:18:57-07:00April 28th, 2020|financial|0 Comments

Required Minimum Distributions   What changed: Perhaps the biggest retirement-related change the CARES Act made was suspending all required minimum distributions (RMDs) from retirement accounts for 2020. These accounts include 401(k)s, inherited retirement accounts, 403(b)s and 457(b)s.  The provision is very broad and is not a push off to 2021 – you will not have to take [...]

28 04, 2020

401(K) Loan changes with the CARES Act

2020-04-28T16:12:37-07:00April 28th, 2020|financial, Uncategorized|0 Comments

The CARES Act and 401(k) loans (and other defined contribution plans)  What changed: Many 401(k)s and other defined contribution plans allow participants to take out a plan loan of up to $50,000 or half of their own vested account balance. Typically, loans are then repaid over a five-year period through payroll deductions.  The CARES Act made [...]

16 04, 2020

CARES ACT HIGHLIGHTS

2020-04-16T07:56:36-07:00April 16th, 2020|Uncategorized|0 Comments

THE CARES ACT - "Coronavirus Aid, Relief, and. Economic Security Act" offers relief for many Americans. Here are some highlights of the act.  In upcoming weeks, I will send specifics on the key laws may be able to  help you.  Click this link to read more: CARES Act Stimulus Package Highlights I will be available [...]

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