Vitaly

Don’t Tap Into Your 401(K) or IRA Accounts

April 6, 2020 By Vitaly Leave a Comment

The stimulus package allowed workplace retirement plan participants and IRA owners to tap into their retirement accounts and withdraw up to an aggregate $100,000 without penalties for COVID-19 related purposes. Usually, with the exception of certain situations, by tapping into your retirement account prematurely, and that is before age 59.5, you will have to pay a 10% penalty. This penalty was waived.

How to Spend Your $1,200/$2,400 Stimulus Check

April 1, 2020 By Vitaly Leave a Comment

It’s official – the government will be sending free money checks to millions of Americans. $1,200 will go to individuals and heads of households and $2,400 will go to married couples with no kids. Also, if you have kids, expect to get an additional $500 per child.

Free Money Checks and Other Financial Reliefs of the CARES Act

March 29, 2020 By Vitaly Leave a Comment

This Friday Congress passed and the president signed into law the CARES Act (the Coronavirus Aid, Relief and Economic Security Act). The bill is aimed to provide economic relief to both businesses and individuals affected by the coronavirus lockdown. In my video, I discuss in detail the most important key provisions of the law, including those for businesses. However, in this post, I’d like to talk about key provisions and reliefs relevant to individual taxpayers only.

10 Steps To Prepare For a Recession and Come Out Of It Financially Stronger

March 27, 2020 By Vitaly Leave a Comment

You don’t have to be an economist to presume that that recession is most likely imminent. Even the president of the Federal Reserve bank of St Louis warned that

Unemployment may soar to 30% and GDP can crash 50% in Q2.

Affected by the Equifax Data Breach? Here’s What You Need to Do

August 2, 2019 By Vitaly Leave a Comment

Almost two years ago, in September of 2017, Equifax, experienced one of the hugest and damaging personal data breaches in the history. Personal information of about 147 million people was exposed. Chances are your private information was exposed too.

After an investigation and scrutiny, the company has agreed to a settlement with the Federal Trade Commission. In accordance with the agreement, Equifax will pay $425 million out of the $700 million settlement to people affected by the breach.

[Read more…]

10 Smart Financial Year-End Moves

December 18, 2017 By Vitaly Leave a Comment

With just under two weeks left in 2017, there is still enough time to reflect on the year, evaluate your financial situation, and be sure that you are off to a good start in 2018.

Let’s take a look at 10 smart financial moves you can still do in 2017 that will reduce your tax liability and save you money. [Read more…] about 10 Smart Financial Year-End Moves