Tax identity theft is when someone steals your Social Security Number, files a tax return with your number, and directs a refund to their own bank account. In other cases, this type of identity theft may involve a scam artist calling on the phone, pretending to be a rep from the Internal Revenue Service (IRS), and demanding payment over the phone. To protect yourself, keep these tips in mind.
Please use the following list of items to prepare for filing your personal income tax return.
Financial planning is an important part of securing your current lifestyle as well as preparing yourself for what you wish to do in your eventual retirement. And while this importance may look different during each stage of your life, it doesn’t make it any less important. Whether you call yourself a baby boomer, hail from the Gen Xers, or are a part of the youngest of those entering the world of financial planning, the millennials, There are certain things about financial planning that each generation should focus on to allow them to obtain their current and future goals.
Treasury yields hit two key levels the first week of 2021. As shown in the LPL Chart of the Day, the 10-year Treasury yield moved above 1% for the first time since March 2020, and the 10-year breakeven inflation rate, a measure of Treasury market-implied inflation expectations, climbed above 2% for the first time since November 2018.
In an increasingly paper-free society, organizing your financial documents can still be a challenge. No matter how simple or complex your financial picture might be, it takes some thought-out organization to keep your tax documents, service records, and paid bills in a format that will allow you to easily access information when you need it. What steps can you take now to organize your financial documents for 2021 and beyond?