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Terry Savage’s Archives

Below you will find the columns terry has written by date.

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Below you will find the columns terry has written by date.

IRS Update: Refunds, Stimulus, Child Credit

June 16, 2021

The IRS has been the busiest agency of government for the past 18 months. To say the agency is multi-tasking is an understatement. They’ve just about finished sending out refunds on 2019 tax refunds on returns filed last July. They sent out $600 stimulus payments in January, and $1400 stimulus payments are still going out..

Bitcoin Basics

June 09, 2021

Have you heard of Bitcoin? Probably, you’ve at least seen new headlines about the soaring price of this cryptocurrency. Don’t feel left out because you aren’t already on the crypto bandwagon. More than half of Americans who own cryptocurrencies have purchased them in the past year, according to a survey by The Motley Fool. And..

When Forbearance Ends

June 02, 2021

The extended period of mortgage forbearance is scheduled to end on June 30th. If you've been helped by this program, you should be preparing for what comes next. And you need to be proactive to make a plan with your servicing company -- and to avoid a financial crisis. A new mortgage finance rip-off is..

Student Loan Forgiveness for Public Service

May 26, 2021

The issue of student loans is bubbling away on the back burners of Congress. Forbearance authorized by the Cares Act is scheduled to end on September 30th, at which point borrowers will have to start making regular payments again. Since the start of forbearance, nearly 42% of borrowers have not made any monthly payments. Many..

Child Tax Credit – The Facts

May 19, 2021

More money is on the way to millions of American families with children. Here is the basic information you should know about it. The Child Tax credit is not new this year. It was introduced in 1998 to give families with children a payment of $400 for each child. Over the years that number grew,..

Taxing Matters

May 17, 2021

Did Bill and Melinda Gates decide to get divorced now because of potential changes in the tax law? That’s the speculation in the wealth management community, where many advisers are discussing proposed changes in the tax laws with their clients. The Gates family fortune is primarily tied up in their foundation and will continue to..

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