Your Guide to Getting Out of Debt

There are a couple of ways to get out of debt and back on track. It may seem overwhelming, but you can do this! It’s time to budget To start with, make a budget. Total up all your monthly take home pay. Next, subtract all of your expenses. You will want to subtract your housing,…

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What is the Standard Deduction?

The standard deduction is the amount of income you get to deduct from your total taxable income. Because the standard deduction lowers your taxable income, it means you pay less income tax. In 2019, the standard deduction for someone filing as single is $12,200. For a Head of Household, the standard deduction is $18,350. And…

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How Does Volunteer Income Tax Assistance (VITA) work?

Volunteer Income Tax Assistance (VITA) is a program of the IRS. VITA sites offer income tax preparation help free of charge for people who generally make less than $56,000 annually, people with disabilities, and those with difficulty speaking English. The program is also offered on military installations. The offices are run by volunteers who have…

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The Three C’s of Credit

Giant red-colored letter C with snow on top made to represent the three Cs of credit

When applying for a loan, it’s helpful to know what your Loan Officer will be looking at when making his or her decision. There are three areas they will review: Capacity, Collateral, and Character. Capacity Capacity is simply your ability to repay the loan. They will review your monthly income and expenses to determine if…

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