In spite of (or in some cases, because of) the COVID-19 pandemic, and with near-record-low home mortgage interest rates, the housing market has been booming. September 2020 existing home sales were up 9.4% from August 2020 and 20.9% from 2019, according to the National Association...
Roth IRAs can be a powerful tax tool, but they are often misunderstood and misused. Investment income in Roth IRAs compound tax-free and most distributions are tax-free as well. Another benefit is that there are no required minimum distributions (RMDs) throughout the original owner's life....
Despite the fresh start that a new year promises, our world has not changed much since last March. We are still living in a new normal. We are masking up, working (and schooling) from home, and maintaining social distance. Furthermore, scores of community events and...
What year did you join Blackman & Sloop? I joined Blackman & Sloop in February 2020. Where did you go to college? I completed my Bachelor's degree at the University of North Carolina at Asheville. Why did you choose Blackman & Sloop? I chose Blackman & Sloop because of the...
With tax season finally behind us, we move into the holiday and end of the year season. 2020 will certainly be a year to remember. Check out what our team has been up to since our last newsletter. Promotions and New Hires: In July, we welcomed...
If you already have a budget, it’s probably been difficult for you to stick with it for the last several months. Unless you provide products and/or services that have been in great demand since the COVID-19 pandemic took hold, you’ve had to adjust your budget...
With the passage of the CARES Act stimulus package earlier this year, the federal government added $600 to the normal state weekly unemployment benefits and increased the number of benefit weeks to a total of 39. In many cases, workers are receiving unemployment benefits for the...
If you have lost your job, there are a number of tax issues you may encounter. How you deal with these issues can profoundly impact your taxes and finances. The following are typical issues related to tax treatment: Severance Pay – Your employer may provide you...
If you hire a domestic worker to provide services in or around your home, you probably have a tax liability that you don’t know about – or one that you do know about but are ignoring. Either situation can come back to bite you. When...
The Health Savings Account (HSA) is one of the most misunderstood and underused benefits in the Internal Revenue Code. Congress created HSAs as a way for individuals with high-deductible health plans (HDHPs) to save for medical expenses that are not covered by insurance due to...
