The one constant in life is change, and your taxes are not immune. The ongoing pandemic produced an unprecedented response from congress in the form of the CARES Act. While not as extensive as the sweeping tax changes that were passed a few years ago, the CARES Act will nevertheless have an impact on your taxes.

If you were ever going to pull from your retirement, 2020 was the year to do it. If the withdrawal was Coronavirus related, you won’t have to pay the normal ten percent penalty for the early distribution. You can even pay the taxes on the distribution over three years instead of taking the hit this year.

You may be wondering about the first two stimulus payments you received. If you got the amount you were supposed to, it won’t have any effect on your taxes. If for some reason you didn’t receive one or both payments, you can claim that on your tax return.

When it comes to unemployment benefits, the news is definitely mixed. Many people received the enhanced unemployment benefits last year, and unfortunately these benefits are fully taxable. If you had ten percent withheld for taxes, you should be okay at the federal level, but since state agencies won’t withhold state taxes from your unemployment, don’t be surprised if you have to send a check to your state capital this year.

One more recent change is that the federal government and most state tax authorities have extending the filing and payment deadlines for 2021to May 17^th. We hope these changes are changes for the better and you have a great 2021, taxes or not. 

Spring has come, and soon a young child’s fancy turns towards… Easter baskets! Even if you don’t celebrate Easter, it’s hard not to notice all the Peep candies, the chocolate bunnies and the one-thousand-and-one Easter egg dyeing kits populating the shelves. As he or she is gnawing one of those aforementioned chocolate hares, your inquisitive little one is bound to ask what all the fuss is about. 

According to Christian teachings, Easter is the time of the Resurrection, when, simply put, Jesus Christ returned from the dead and ascended to Heaven. It’s a central tenet of Christian belief. Of course, all the talk about life, death and rebirth may be a little weighty for children. If you’re looking for ways to teach children about the meaning behind the Easter celebration without unnerving them, try some of these suggestions.

Now that still doesn’t quite explain where jelly beans and bunnies come into the picture. As early Christianity spread through Europe, the celebration of Easter gradually replaced the old pagan spring festivals. The word ‘Easter’ actually comes from Ēostre, the Germanic goddess of spring, who would often take the form of a hare. Here are some more insights into the history of Easter, which might help you reconcile resurrections and rabbits a little better when your kids ask. 

Even if you’re not religious, teaching your children about the meaning behind this colorful holiday can help them understand other people’s faiths, and these days a little understanding can go a long way.

Happy Easter! 

From colorful baskets to chocolate bunnies, Easter gets all the attention when it comes to spring holidays. Without a doubt, it’s the biggest kid on the holiday block. However, it’s not the only holiday in town. Passover is another important holiday that is often ‘passed over’ in the popular imagination. 

So what is Passover, and why is it important? It’s tempting to just think of it as the Jewish version of Easter, but it’s quite different. You won’t find any mention of bunnies in Passover tradition. Instead it’s meant to commemorate the liberation of the Hebrews from their bondage in Egypt. It’s one of the oldest continuously celebrated holidays and typically runs for seven or eight days, depending on where you live. The most common food eaten during Passover is unleavened (without yeast) bread that symbolizes the Hebrews rapid flight from the land of the Pharaohs. They left in such a hurry they didn’t have time to wait for their bread to rise. In fact, no leavened bread or any other product containing yeast is eaten during this time. Celebrations take place all over the world, including Poland, Ethiopia and even Nepal. See this site for more information about Passover and how it’s celebrated. 

Even if you don’t celebrate it, learning about Passover and the traditions behind it is a great way to understand different cultures. It can help those who do celebrate Passover to feel represented and valued, bringing us all a little closer together in our shared humanity. 

After a long winter of being cooped up indoors, you’re probably feeling the urge to finally get outside and enjoy the weather. You’ve probably already seen the bulbs, seeds and colorful flowerpots begin to appear on the store shelves, so what could be a better way to celebrate spring than to start your own garden?

It’s a great hobby for young and old alike, and no, you don’t have to have a proverbial green thumb to be successful. What you do need to do is give your future garden some thought and do a little planning before your trusty spade or shovel ever hits the ground. 

The three basic considerations for your project are what kind of garden you want, how much space you have and what kind of soil you have to work with. The answers to these questions will help shed some light on an even more important consideration; how much time and money you’ll need.

Here is a basic garden guide to get you started. If you’re short on space, try this guide for tiny gardens. If you’re dealing with poor soil, here are some natural ways to recondition it so it’s suitable for gardening. 

Gardening really is a great hobby. It gets you outside in the fresh air and sunshine. It can give your house some extra curb appeal, and with a little planning, you can do as much or as little as you like. Few things beat the satisfaction of being surrounded by growing things in the spring. If this hobby sounds like the thing for you, then check our guides and grab your shovel. The only thing you have to fear is a little dirt underneath your fingernails. 

For everything, turn, turn, turn

There is a season, turn, turn, turn…

     ~ Peter, Paul & Mary

The winter can be a bit depressing. If the dark and the cold weren’t enough to get you down, a landscape dominated by dull whites, gray and browns can get old pretty quickly. Fortunately, spring is just around the corner. It may not be time to break out your Bermuda shorts quite yet, but you’ve probably felt the first hints of a warm spring breeze or chanced upon a crocus defying the winter frost to poke its head out.

Spring is hope. It’s hope that the bitter cold will go away, that we can actually go outside without bothering to put on three layers of clothes. It’s also hope that after dreaming all winter on all the new possibilities for our lives we can finally put those plans into action. It’s a time for growth and a time for reinvention— a time to shed the limitations of the past and let those dreams take flight in the warm sun. 

Spring teaches us that even if things haven’t gone the way we’ve wanted in the past, there’s still a chance to turn things around if we dream big and work hard. What you do and how you do it is up to you. To get you started, here are some suggestions for renewal.

Have a great Spring!

When Tax Day rolls around each April, we often find ourselves holding a fat refund check, or we’re gritting our teeth writing out a check to Uncle Sam. In most cases, your big refund or your big bill resulted from the amount of taxes withheld from your paycheck. 

Did you know that you can adjust the amount of withholding on your paycheck at any time using the W-4 form? Most people fill out a W-4 when they start a new job, and never give it a second thought. You can get a W-4 from your employer or print a copy off from IRS.gov. Here’s how to get the right amount withheld for you.

What is "just right?"

Goldilocks would know the right way to withhold taxes. Not too much. Not too little. Just right. 

Believe it or not, the government actually has a way to help you get it “just right.” You can go to the IRS website, and use their withholding calculator. The calculator considers different sources of taxable income as well as credits and deductions that apply in your situation. At the end, you get a recommendation for how many allowances to claim.

How low can you go?

Don’t drop your withholding too low. While extra big paychecks might feel good now, the extra big tax bill plus penalties and interest will hurt next Tax Day. In contrast, withholding too much will get you that giant refund, but all the while the government is using your money with 0% interest. 

Want that big refund for a large purchase? 

Instead, discipline yourself to put money away each payday. Open a savings account funded by direct deposit from your paycheck. Refuse an ATM card, and do not link the savings account to your checking account. The money is still out of reach, but now you can earn a small return on your cash.

By withholding the right amount, you get to use your money right away instead of waiting for Uncle Sam to pay it back. Get a little extra flexibility in your finances by reducing the tax withheld from your paycheck. Just don’t get carried away, or Uncle Sam will be coming around to get what’s his.