Jill on Money Radio Show: Non-Traditional Retirement Planning

Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube.

I know the whole goal of this program is to take the mystery out of your finances, but sometimes it’s easier said than done, especially when you’re dealing with a non-traditional situation, and that’s the case with our caller this week.

But don’t worry, we address plenty of traditional situations by answering a bunch of your emails!

Stimulus payments have been a critical lifeline for many Americans during the coronavirus crisis. But what if you didn’t receive the full amount due to life changes such as a new baby or lower income? Thankfully there’s a way to solve this, in the form of a recovery rebate credit.

The recovery rebate and your stimulus payments are actually one in the same. It’s just that the recovery rebate credit is paid as part of filing your return.

Joining us this week to help make sense of it all is Kathy Pickering, the chief tax officer at H&R Block.

Have a money question? Email me here.

"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.

Tax Season and the Recovery Rebate Credit

As tax season continues, this weekend we're bringing you one more episode sponsored by H&R Block.

Stimulus payments have been a critical lifeline for many Americans during the coronavirus crisis. But what if you didn’t receive the full amount due to life changes such as a new baby or lower income? Thankfully there’s a way to solve this, in the form of a recovery rebate credit.

The recovery rebate and your stimulus payments are actually one in the same. It’s just that the recovery rebate credit is paid as part of filing your return.

Joining us this weekend to help make sense of it all is Kathy Pickering, the chief tax officer at H&R Block.

As you're getting ready to file your taxes, remember that H&R Block has all your tax needs covered. Their experts have an average of 10 years’ experience. They’ve seen it all and can help get all the credits and deductions you deserve.

Have a money question? Email me here.

Please leave us a rating or review in Apple Podcasts.

"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.

Jill on Money Radio Show: Mortgage or No Mortgage?

Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube.

Semi-retired and looking to buy a new house. The big question is whether or not to take out a mortgage or pay cash? That’s the gist of our call this week as we chat with Ryan from Seattle.

The rest of hour one was trying to clean out the inbox. Haha, yeah right. We’ve got thousands of emails, and all I can say folks is that we’re doing the best we can.

What could be more basic than preparing your taxes? After a tumultuous 2020, tax season is officially open, a few weeks later than years in the past. The deadline to file and pay any tax owed reverts to April 15th, after last year’s COVID-19 related extension.

By now, you should have received most of your tax preparation documents (W-2s, 1099s, as well as bank, investment, mutual fund and mortgage company documents).

If you didn’t learn the lesson of electronic filing last year, this is the year to dump the paper. After all, those who had electronic files with the IRS got those stimulus checks faster than those who had to wait weeks and sometimes months for their money.

Additionally, be sure to choose direct deposit, which is “the safest, most accurate and fastest way to get a refund,” according to the IRS.

Because of all the various changes that went into effect last year as the pandemic unfolded, this tax season could be a tricky one.

To help us break it down, we're joined by the one and only Ed Slott, the ultimate tax guru and founder of IRA Help.

Have a money question? Email me here.

"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.

CBS This Morning: Tax Season 2021 Begins

Tax confusion is being caused by the COVID-19 pandemic. CBS News business analyst Jill Schlesinger explains what people can deduct and what payments are taxa...

Tax confusion is being caused by the COVID-19 pandemic. I joined CBS This Morning to help explain what people can deduct and what payments are taxable in 2020 returns.

Coronavirus: Taxes in July Part Two

Yes, we're officially in the summer months, and for millions of Americans, thanks to the coronavirus, the early summer weeks will include preparing and paying taxes.

Because of the pandemic’s timing and impact, the IRS delayed the tax-filing and payment deadlines from April 15th to July 15th. The agency also moved back Q2 quarterly estimates, which would have been due on June 15th, to July 15th.

To help us break down all the ins and outs of this "new" tax season, we're joined by Ed Slott, the ultimate tax guru and founder of IRA Help.

Have a money question? Email me here.

Please leave us a rating or review in Apple Podcasts.

"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.

Coronavirus: Taxes in July Part One

Yes, we're officially in the summer months, and for millions of Americans, thanks to the coronavirus, the early summer weeks will include preparing and paying taxes.

Because of the pandemic’s timing and impact, the IRS delayed the tax-filing and payment deadlines from April 15th to July 15th. The agency also moved back Q2 quarterly estimates, which would have been due on June 15th, to July 15th.

To help us break down all the ins and outs of this "new" tax season, we're joined by Ed Slott, the ultimate tax guru and founder of IRA Help.

Have a money question? Email me here.

Please leave us a rating or review in Apple Podcasts.

"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.

Tax Season Planning with Ed Slott

Tax season is open, which means there’s another opportunity to: (a) vent about how much you hate this time of year, (b) complain about the complexity of the U.S. code, and (c) whine about your refund being lower than previous years, even though you know that a refund is just the return of the extra money that you paid Uncle Sam, on which he paid zero interest.

The Internal Revenue Service is hoping that this year’s filing season will be less fraught than last year’s, because the government has remained open (remember the 35-day shutdown of 2018-2019?) and it will be the second time that the American taxpayers will be filing under the new rules that emerged from the Tax Cuts and Jobs Act (TCJA).

The deadline to file 2019 tax returns and pay any tax owed is Wednesday, April 15, 2020 and the IRS expects that more than 150 million individual tax returns will be filed.

Back with us for his annual tax season appearance is Ed Slott, the ultimate tax guru and founder of IRA Help.

The best way to prepare for this season is to grab last year’s return as a guide to what’s missing and then to start organizing your documents (W-2s, 1099s, as well as bank, investment, mutual fund and mortgage company documents) in a simple file. While most of tax year 2019 will look like 2018, there are inflation adjustments to the standard deduction, tax bracket ranges and many tax credits. 

There are also a few notable changes which we’ll discuss with Ed.

Have a money question? Email me here.

Please leave us a rating or review in Apple Podcasts.

"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.