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The tax implications of student loan forgiveness can be complex. It’s important to talk to a tax advisor to understand the specific rules that apply to you. However, there are some general rules that you should keep in mind. For example, federal student loan forgiveness that is received under the PSLF program is not taxable. Additionally, the American Rescue Plan Act of 2021 temporarily exempted federal student loan forgiveness from taxation.

Personal Finance / Retirement

Retirement: What Is The 4% Rule?

July 25, 2023August 19, 2023 - Leave a Comment

The 4% rule is a good starting point for planning your retirement withdrawals. However, it’s important to remember that it’s just a guideline. Your individual circumstances may require you to adjust the rule. So, it’s important to talk to a financial advisor to get personalized advice on how much you can safely withdraw from your retirement savings.

Mortgages

How To Get The Best Mortgage Rate

July 25, 2023August 19, 2023 - Leave a Comment

The interest rate on your mortgage is one of the most important factors that determines how much you pay over the life of the loan. A lower rate can save you thousands of dollars and make your monthly payments more affordable. Getting the best mortgage rate can save you money and make your homebuying process easier. By following these tips, you can increase your chances of finding the best rate for your situation.

Real Estate

What You Need To Know Before Buying A House

July 24, 2023August 19, 2023 - Leave a Comment

Buying a house is one of the biggest and most exciting decisions you can make in your life. It can also be one of the most stressful and complicated ones, especially if you are not prepared for the process. There are many factors to consider, from your finances and credit score to the location and condition of the property. Knowing these factors will prepare you to make your dream of owning a home come true.

Investing

Investing Guide For Beginners

July 24, 2023August 19, 2023 - Leave a Comment

Investing is the act of committing money or capital to an endeavor with the expectation of obtaining additional income or profit. Investing is a way of putting your money to work for you, so that it can grow over time and help you achieve your financial goals. However, investing also comes with the risk of losses, so you need to be prepared and informed before you start.

Personal Finance

Taxes on Student Loan Forgiveness: What You Need to Know

July 23, 2023August 19, 2023 - Leave a Comment

Student loan forgiveness can be a great relief for borrowers who are struggling to repay their debt. However, it can also come with a hidden cost: taxes. Depending on the type and timing of your student loan forgiveness, you may have to pay federal or state income taxes on the amount of debt that is canceled. Here are some things you need to know about taxes on student loan forgiveness.

Real Estate

How To Choose A Real Estate Agent

July 23, 2023July 18, 2023 - 1 Comment

A real estate agent can make or break your home buying or selling experience. A good agent can help you find the right property, negotiate the best price, handle the paperwork, and guide you through the whole process. A bad agent can waste your time, money, and energy, and cause you unnecessary stress and frustration. Choosing a real estate agent is a personal and important decision. You should take your time and do your homework before hiring an agent. By following these tips, you can find the best agent for you and have a smooth and successful home buying or selling experience.

Credits

Why You Should Pay Off Credit Card Balance Every Month

July 22, 2023August 19, 2023 - Leave a Comment

Paying off your credit card balance every month is one of the best ways to use credit cards wisely and responsibly. It can help you avoid paying interest, boost your credit score, accrue reward points, and enjoy other benefits. It can also help you save money, reduce stress, and achieve your financial goals faster.

Credits

Demystifying Credit Scores: Understanding How They Are Calculated

July 21, 2023August 19, 2023 - Leave a Comment

While the exact formulas used by credit scoring models, may vary, understanding the key factors that go into the calculations of your credit score can help you make informed financial decisions. By maintaining a history of on-time payments, keeping credit utilization low, building a lengthy credit history, diversifying your credit mix, and applying for new credit responsibly, you can improve and maintain a healthy credit score.

Calculators / Mortgages

How to Use a Mortgage Calculator to Save Money and Time

July 20, 2023August 19, 2023 - Leave a Comment

If you are planning to buy a home or refinance your existing mortgage, one of the most useful tools you can use is a mortgage calculator. A mortgage calculator is an online tool that helps you estimate your monthly mortgage payment and other financial costs associated with your mortgage. By using a mortgage calculator, you can save money and time by comparing different loan options, finding the best interest rate, and planning your budget.