About 13% of U.S. families owned a business in 2019, and they tended to have higher incomes and greater wealth overall than families without a business. Business ownership also rises with income. Source: 2019 Survey of Consumer Finances, Federal Reserve Board, 2020 Connect with an Advisor Copyright 2006-2021 Broadridge Investor Communication Solutions, Inc. All rights reserved.
Due to the unusual conditions related to the coronavirus pandemic, the due date for individuals to file 2020 federal income tax returns and make tax payments has been postponed by the IRS from Thursday, April 15, 2021, to Monday, May 17, 2021. No interest, penalties, or additions to tax will be incurred by taxpayers during
Even though tax filing season is well under way, there’s still time to make a regular IRA contribution for 2020. You have until your tax return due date (not including extensions) to contribute up to $6,000 for 2020 ($7,000 if you were age 50 or older on or before December 31, 2020). For most taxpayers,
If we’ve learned any lesson over the past year, it’s that no matter how carefully we plan and prepare, we’ll likely encounter unexpected hurdles. While a global pandemic has certainly underscored the need to pay close attention to our physical wellness, it has also revealed the need to shore up our financial wellness. According to
In 2020, three companies in the S&P 500 index announced plans for stock share splits, down from 102 companies in 1997 and seven in 2016.1 As an investor, you may wonder what a stock split is and how it might affect your portfolio. Although splitting stock shares has been much less common in recent years,
In March 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The legislation included a provision that allowed qualified retirement plan participants and IRA account holders to take penalty-free early distributions totaling no more than $100,000 between January 1 and December 31, 2020. If you took advantage of this measure, here’s what
Financial aid is essential for many families, even more so now in light of COVID-19. How much do you know about this important piece of the college financing puzzle? If my child attends a more expensive college, we’ll get more aid Not necessarily. Colleges determine your expected family contribution, or EFC, based on the income
Pets can be wonderful companions. If you’re spending more time alone or working from home, you may be thinking about adopting a pet yourself. But before you bring home a new dog or cat, you should consider — and not underestimate — the time and money you might spend on your four-legged friend. Source: 2019-2020
There’s no doubt about it — last year was tumultuous. The coronavirus pandemic, a contentious election, and widespread protests were just some of the events that impacted our nation in 2020. Fortunately, the arrival of new vaccines has brought hope for a brighter 2021. If you are looking forward to a fresh start this year,
Tax filing season is here again. If you haven’t done so already, you’ll want to start pulling things together — that includes getting your hands on a copy of your 2019 tax return and gathering W-2s, 1099s, and deduction records. You’ll need these records whether you’re preparing your own return or paying someone else to
