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Lake Wylie Tax Service | Bookkeeping | Payroll Service

Lake Wylie Tax Service | Bookkeeping | Payroll Service

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Category Archives: Personal Finance

The Number of Americans Who Didn’t Pay Their Mortgage Hit 5% in December 2020

Lake Wylie Tax Service | Bookkeeping | Payroll Service Posted on February 17, 2021 by Lake Wylie Tax Services StaffFebruary 17, 2021

Number of Americans Who Didn't Pay Their Mortgage Obviously, the still-ongoing COVID-19 pandemic has been a major challenge for all of us since it kicked into high gear in March of 2020. In the months since, millions of people have found themselves out of a job and the ones that remained were suddenly faced with working remotely for the foreseeable future.

Even though a vaccine is in the process of being rolled out and a proverbial light at the end of the tunnel seems to finally be in sight, there’s no denying that the impact of the pandemic will continue to be felt for quite some time. Case in point: according to one recent study conducted by the Mortgage Brokers Association’s Research Institute for Housing America, about five million Americans were unable to make their rent or mortgage payments on December of 2020. To put this into context, that number translates to more than 5% of all renters and mortgage holders in the country.

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Posted in Personal Finance

Your Guide to Using 529 College Savings Plans

Lake Wylie Tax Service | Bookkeeping | Payroll Service Posted on January 7, 2020 by Lake Wylie Tax Services StaffJanuary 23, 2020

When it comes to saving for your child’s future college expenses, 529 college savings plans are one of the most popular options — and for good reason. These plans allow you to tuck away money for future tuition expenses without taking a hit from taxes.

To make the most of this tax-advantaged plan, however, there is a lot to learn, and every state is a bit different in their policies and procedures. To help you get started in deciding if this option is right for you, here’s a rundown on the details about 529 college savings plans.

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Posted in Personal Finance | Tagged 529 College Savings Plans
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