Financial Tips

Are you or someone you know currently making federal student loan payments? In light of the

COVID-19 pandemic, some welcome relief has been implemented for federal student loan payments.  

Don’t forget taxpayers have until July 15^th to file their 1040 form and July 15^th is the deadline to pay any federal taxes owed for 2019.

Washington State appears to be the primary target of recent attacks on the unemployment insurance system across the country.

The Internal Revenue Service knows that many taxpayers have had a stressful spring. So, as you may already be aware, they reset the federal tax deadline. We all have until July 15^th  to file our 1040 form. July 15^th is also the deadline to pay any federal taxes owed for 2019.¹

Tax season is underway, and we have some tips for recordkeeping. You should keep track of and store your tax and other financial records to avoid delays as the filing deadline approaches. Records may include W-2 forms, canceled checks, certain receipts, and previous year returns.

Common documents

If you are not already receiving 2019 tax forms, you may receive some soon. 1099 forms are sent out by banks and brokerages in January. Sometimes 1099s are restated, and you may receive an updated version in February.

What changed for you in 2019? Did you start a new job or leave a job behind? Did you retire? If notable changes occurred in your personal or professional life, then you will want to review your finances before this year ends and 2020 begins.

According to Giving USA 2018, Americans gave an estimated $410.02 billion to charity in 2017. That’s the first time that the amount has totaled more than $400 billion in the history of the report.¹