Charitable Giving: How it Affects You Financially as Well as Personally
For many people, charitable giving provides them with either a tax break or a deduction depending on the type of giving.
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Coping With Caregiving in the Time of COVID
Nearly one in three U.S. adults serves as the primary caregiver to a relative or other close loved one. With respite facilities throughout the country closed or operating on restricted hours as a result of the COVID-19 pandemic, many family caregivers are under even more strain than normal. What can caregivers do to cope? Read on for five tips and tricks that can help combat caregiver burnout while remaining mindful of the ongoing pandemic.
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End of Year Planning: Set Goals and Reduce Taxes
By the last third of the calendar year, you're likely to have a pretty good idea of what your annual income will be and whether any major expenses or big life changes await you. This can allow you to engage in more robust tax planning, creating the first draft of your federal and state income tax returns to see what factors you can tweak and what goals you can set to reduce your overall tax burden. Read on for some points to consider as you close out 2020.
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Prepare for Long-Term Care Before the Need
Long-term care (LTC) keeps you functioning in the face of devastating illnesses, disabilities and prolonged disorders such as Alzheimer’s disease. LTC kicks in when you lose the ability to care for yourself and can no longer do things such as bathe, dress or eat without help. These are three of the six most commonly listed activities of daily living, or ADLs. The care obviously comes with lots of emotions – and rising costs you can start addressing now.
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Benefits of HSA and FSA Accounts
Flexible Spending Accounts (FSA) and Health Savings Accounts (HSA) are designed to help you save money on medical costs by giving you access to a special savings account with tax benefits. Although these plans are very similar, they have a few differences. For instance, employees and self-employed people can both open HSA plans, while only employees can use FSA plans.
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All You Need To Know About Eldercare Arrangements
How far in advance do you plan vacations? A month at the very least, right? You’ve booked the flights and hotels, taken time off of work, gotten the kids out of school and looked forward to it from the moment you made the final arrangements. This is the positive way we like to view Eldercare.
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What does Medicare cover?
You can receive Medicare coverage either by enrolling in Original Medicare or a Medicare Advantage Plan (typically an HMO or a PPO).
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From Cost to Coverage 5 Benefits of Enrolling in Medicare Advantage
Medicare part C, or better known as Medicare Advantage is a policy offered through private insurance companies that provides medical and hospital coverage.
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What Gen Xers, Millennials, and Baby Boomers Need to Know About Financial Planning?
Financial planning is an important part of securing your current lifestyle as well as preparing yourself for what you wish to do in your eventual retirement. And while this importance may look different during each stage of your life, it doesn't make it any less important. Whether you call yourself a baby boomer, hail from the Gen Xers, or are a part of the youngest of those entering the world of financial planning, the millennials, there are certain things about financial planning that each generation should focus on to allow them to obtain their current and future goals.
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Protect Your Assets With a Trust
The trust's grantor names a trustee to handle investments, manage trust assets, and make decisions regarding distributions.
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