April Volume 6 Newsletter
April 2021 Vol 6
HBS Tax Tips
A Newsletter published by the HBS Financial Group, Ltd.
Employees could be heading back to the office sooner than they think
While some companies, including JPMorgan Chase, Salesforce and PricewaterhouseCoopers, are dumping office space, others are ramping up their return-to-work plans.
Just this week, Google, one of the first major U.S. companies to send employees home last year because of the coronavirus, told staffers it is accelerating plans to get back in the office ahead of the Sept. 1 return deadline. Read more…
Retirees hitting the road should check their Medicare coverage first
Retired, vaccinated and ready to hit the road? Don’t forget to check whether your Medicare plan will travel with you.
While coverage when you’re away from home depends partly on where you’re headed, it also hinges on the specifics of your coverage. Whether the care you receive is routine or emergency also can play a part. Read more…
Tax-refund phishing scam targets college students and staff, IRS warns
The IRS warned Tuesday of a tax-refund phishing scam targeting college students and staff who believe they have a pending tax refund.
Con artists are using fake e-mails to impersonate the federal tax agency.
The messages display the IRS logo and use subject lines like “Tax Refund Payment” or “Recalculation of your tax refund payment.” Read more…
It’s going to become harder to avoid telling the IRS about income from selling stuff online.
All that money you make selling stuff online? Don’t overlook the taxman. Depending on your situation, it’s possible that you’re generating income that the IRS wants to know about. And if you’re an ongoing seller, be aware that it could become harder after this year to avoid income-reporting requirements.
While the tax law applying to such transactions hasn’t changed, it just has become more visible, said Cari Weston, director for tax practice & ethics with the American Institute of CPAs. Read more…
Explore the FIRE Movement
Followers of the Financial Independence Retire Early (FIRE) movement strive for complete financial freedom—earning and investing enough income to stop working for a paycheck in their thirties or forties. The goal? To spend the years before they turn 65 doing what they love most: traveling, volunteering, or living simply without financial pressure or uncertainty. Whether or not FIRE works for you, studying it’s principles can help you have a healthier relationship with your finances. Read more…
Do Your Taxes Online & Stop Paying Those High Fees
Filing your taxes is a process that we all would like to avoid, and for many good reasons. Not only is the process typically very time consuming, but it can also be so intimidating to know how to properly file your tax information and answer all of the questions correctly. You can do your taxes online here and avoid all of that hassle. Read more…
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Trivia and Quotes
Trivia Q. Do you know how many chocolate Easter Bunnies are made every year: 30, 60, 90, or 100 million?
Trivia A. “Over 90 million chocolate Easter Bunnies are made each year.”
Trivia Q. When was the first Boston Marathon?
Trivia A. “On April 19, 1897, John J. McDermott of New York, emerged from a 15-member starting field and captured the first B.A.A. Marathon in 2:55:10, and, in the process, forever secured his name in sports history.”
Trivia Q. When was the first St. Patrick’s Day parade in the United States?
Trivia A. The first St. Patrick’s Day parade took place in the United States on March 17, 1762, when Irish soldiers serving in the English military marched through New York City.
Trivia Q. Which US President was the only President unanimously elected?
Trivia A. George Washington
Trivia Q. Is there something in turkey that makes you sleepy?
Trivia A. While turkey does have a natural sleep agent in it, an amino acid called tryptophan, there are reasons to believe that it is not the culprit. Most likely it is the traditional Thanksgiving foods that are so heavy and high in carbohydrates. Also, a little alcohol with your meal can add to the sedative effect. Learn more at How Stuff Works – Science and see if you can stay awake after this year’s delicious Thanksgiving meal!
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