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Earned Income Tax Credit: It could mean thousands in refunds -- how it works
Read full article: Earned Income Tax Credit: It could mean thousands in refunds -- how it worksToday’s Money Minute is about a too-often-ignored and under utilized tax credit for lower income earners. It could mean thousands of dollars in tax refunds -- but it’s complicated.
Money Monday financial tips: The difference between a business and hobby
Read full article: Money Monday financial tips: The difference between a business and hobbyDo you know what the financial difference is between a business and a hobby? Read more: Can you turn your hobby into a business? 9 things to knowFor more Money Monday segments, go here.
Money Monday: 'The Dirty Dozen' IRS scams
Read full article: Money Monday: 'The Dirty Dozen' IRS scamsFor more information: https://www.irs.gov/newsroom/irs-unveils-dirty-dozen-list-of-tax-scams-for-2020-americans-urged-to-be-vigilant-to-these-threats-during-the-pandemic-and-its-aftermathIf you need help with the Public File, call (313) 222-0566.
Financial help: What senior investors should know about annuities
Read full article: Financial help: What senior investors should know about annuitiesAnnuities can be useful tools. But I dont recommend them, for the most part, especially for senior investors. These are the two annuities seniors should avoid at all costs:Variable life contracts Equity indexed or fixed annuitiesHere is why:They are complicated and confusing. They often come with nose-bleed fees and surrender charges usually built into the early contract years. They are meant for long-term investors -- sometimes up to 15 years -- meaning not for seniors.
Money Monday: A one-stop shop for free personal finance
Read full article: Money Monday: A one-stop shop for free personal financeHeres a look at how this free tool can help you with your personal finances. Watch the video above. For on 360 Financial Literacy, go to the website here. For Money Monday package and financial tips, go here.
Financial help: Recession-proof your money with lessons learned from COVID-19
Read full article: Financial help: Recession-proof your money with lessons learned from COVID-19The American Institute Of CPSs is offering financial advice for troubled times. Recession-proof your investmentsSet financial goals, stay diversified and revisit asset allocation regularly to manage market fluctuations. Create a crisis budget in troubled timesExamine current income against current living expenses. Pay with money you havedo not use credit and make matters worse. READ MORE: Lessons Learned from COVID-19 can help Americans Recession-Proof their Finances: AICPA Survey
How defensive stocks work
Read full article: How defensive stocks workIf you’re still looking to invest amid the current craziness of the stock market right now, defensive stocks might be a strong option to consider. Defensive stocks are stocks that provide consistent dividends and stable earnings, regardless of the state of the stock market. These include recession-resistant sectors like necessities, utilities, consumer staple and packaging companies. Most of these companies offer dividends that strengthen your portfolio without adding to your risk. More reading on the subject:
Money Monday: New phone scam warning
Read full article: Money Monday: New phone scam warningPhone scammers are targeting seniors, threatening to shut off their gas or power unless paid, often demanding payments in gift cards or Bitcoin. People are advised to use caution as these scammers are using public utility companies as their caller ID. Remember, companies do not call customers demanding payment and do not accept payments in the form of gift cards or Bitcoin. For more information from the state of Michigan, go here. Watch above for more information.