January 15th, 2020 Newsletter


Frequently Overlooked Tax Deductions
After the sweeping new federal tax law took effect in January 2018, about 90% of taxpayers took a standard deduction for that tax year rather than itemize, up from about 70% the year before. But if you are planning to take …
Bottom Line, Inc

How Early Can You File Your Tax Return in 2020?
The sooner you file your tax return, the sooner you’ll receive any refund due. So start gathering your receipts now, because the …

Take charge of your credit
By now, you’ve encountered the world of credit, whether it was renting your first apartment or figuring out how to pay for a kitchen …
ABC News

How to Get Items Removed From Your Credit Report
Your credit report is a signal of financial stability. But it’s fairly common even for the most diligent with their money to get slightly …

The High Cost of Having a Baby in America
For women in many developed countries, having the baby—not paying for it—is the hard part. Giving birth in Finland, for example, will …
The Atlantic

Retirement And The Laws To Help Older Workers
“Ageism in the Workplace” is the cover feature of the February 2020 AARP Bulletin. Tales are told of older workers mistreated or axed …

How Much Can You Contribute to a 401(k) for 2020?
One of the best and most tax-friendly ways to build a nest egg for retirement is by contributing to an employer-sponsored …

Underfunded IRS struggles to send refunds, answer calls
Burdened with years of budget cuts and a recent increase in workload to implement a new tax law, the IRS struggled to deliver on its …
ABC News

Form 1040-SR: Seniors Get a New Simplified Tax Form for 2019
If you are 65 or older (or you turned 65 any time in 2019), you will have the option to use a new simple tax form for seniors, known as …

Moving Forward Financially After the Loss of a Loved One
The loss of a partner or family member is a life-changing event laden with intense emotions. Whether the death is sudden or precipitated …

When Should My Husband And I Start Our Social Security Benefits?
Today’s column addresses questions about when and how a married couple can file, survivor’s benefits and the earnings test, divorced …

“How can you call me unemotional? You’ve seen me cry over interest rates!”
Copyright © Randy Glasbergen
Who suggested the design for the first penny?
See the answer below.
What Is a Roth IRA?
A Roth IRA is a type of investment account used for retirement. IRA is short for “individual retirement account …
Investor Junkie
What Year Was It?

Packers Face Chiefs in First Super Bowl

What Year

At the Los Angeles Coliseum, the Green Bay Packers beat the Kansas City Chiefs in the first-ever world championship game of American football.
The day was Jan 15. What year was it?

Quote of the Week
“Frugality includes all the other virtues.”
Trivia Answer
Who suggested the design for the first penny?
Answer: Benjamin Franklin
Tom Umstattd, CPA
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