Category: Uncategorized

IRS Announces That Face Masks and Related Purchases Are Tax Deductible

Face masks and related purchases are tax deductible. The IRS has announced that the tax deduction for medical expenses includes amounts spent on face masks, sanitizer and other products purchased to prevent the spread of the coronavirus. If you have significant medical expenses, you may be able to deduct them from your taxes. Many types […]

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Medicaid Recipients Have a Little More Time to Spend Down Their Stimulus Money

The one-year deadline for nursing home and waiver residents on Medicaid to spend down their first round of stimulus checks is here, but they may have a little extra time. In March 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act authorized $1,200 stimulus checks to most Americans, including Medicaid recipients. Another round of […]

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How the $1.9 Trillion COVID Relief Bill Provides Senior Assistance

The $1.9 trillion American Rescue Plan Act (ARPA) delivers a broad swath of relief, covering families, employers, health care, education, and housing. The following are the provisions that most directly affect older Americans: Relief checks. The ARPA provides $1,400 direct payments to individuals earning up to $75,000 in annual income and couples with incomes up […]

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Ability to Withdraw Money Early from Retirement Plan Without Penalty Expires at the End of the Year

        If you are experiencing financial hardship due to the coronavirus pandemic, you may want to consider withdrawing money from your retirement account while you still can. The special exemption allowing early withdrawals without a penalty ends soon. Passed in March 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act allows […]

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A Modest Social Security Increase for 2021

The Social Security Administration has announced a 1.3 percent rise in benefits in 2021, an increase even smaller than last year’s. Cost-of-living increases are tied to the consumer price index, and a modest upturn in inflation rates and gas prices means Social Security recipients will get only a slight boost in 2021. The 1.3 percent […]

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Jeff Stinson to Present Seminar on Health Care Advance Directives

In conjunction with Indy Real Estate Experts, at Century 21 Scheetz, Jeff Stinson will be be presenting a free live workshop entitled, “Health Care Advance Care Planning, Do You Have Your Plan?” In this workshop, Jeff will review how to appoint your health care surrogate, how to document your desires in the matter of life […]

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