After the collapse of the Silicon Valley Bank, the Federal Reserve warned that the recent upheaval in the banking sector will likely lead to tighter credit conditions for individuals and businesses. Below we’ll go over some the effects the current state of the banking...
Rob Yeend
Social Security Reform: What Changes to the Program Are Being Proposed?
The Social Security program has been successful in reducing poverty and promoting economic security for millions of Americans – those who are retired and disabled as well as surviving spouses and children of deceased beneficiaries. However, the program’s long-term...
Inflation is Affecting Taxes: Here are the Tax Adjustments Made by the IRS for 2023
In response to high inflation rates, the IRS made some of the biggest adjustments in history for tax year 2023. These changes affect individual tax brackets as well as some key tax deductions and credits for the taxes you will file in 2024. We go over the most...
From Loans to Debts: How Rising Interest Rates Affect Your Personal Finances
Interest rates impact nearly every corner of the economy, from the housing market to consumer spending. When interest rates rise, the effects are widespread, impacting personal finances as well. Below we’ll explore how rising interest rates might affect your personal...
How to Avoid the IRA Early Withdrawal Penalty
Although the function of a traditional IRA is to save money for your retirement years, you may need to access those funds earlier than planned. If you withdraw from an IRA before age 59 ½, you could face an early-withdrawal penalty. However, there are some exceptions that will exempt you from the penalty.
Here’s Why the IRS is Forewarning Americans of the Possibility of Smaller Tax Refunds in 2023
Taxpayers usually receive a federal refund when they’ve overpaid yearly taxes or withheld more than the amount owed. In a recent announcement, the IRS warned taxpayers that they could see a smaller refund in 2023 than they did this year. Here’s why. Lack of Stimulus...
How to Prepare for Unexpected Financial Hardship in Retirement
We all hope to live a long life in retirement, and we’d be remiss to think that we won’t experience any financial hardship. From divorce to economic recession to losing a family business and anything in between, life guarantees ups and downs. It only makes sense to...
