January 2020 Newsletter

Upper Limits on Conforming Mortgages Increasing for 2020

By Bob Cahill, Leader Bank Big changes for 2020! The Federal Housing Finance Agency announced the conforming limit for one to four unit properties is increasing.  For a complete list by states/counties please click here. Investopedia defines Conforming Loans as: What Is the Conforming Loan Limit? The conforming loan limit is the dollar cap on the size of… Continue reading Upper Limits on Conforming Mortgages Increasing for 2020

January 2020 Newsletter

2019 and 2020 Tax Facts

For 2019, the standard deduction for a single individual is $12,200 and for a married couple is $24,400. A person will benefit by itemizing once allowable deductions exceed the applicable standard deduction. Itemized deductions include state and local income taxes (or sales taxes) AND real estate taxes limited to $10k per year, mortgage interest, charitable… Continue reading 2019 and 2020 Tax Facts

January 2020 Newsletter

Cyber Security Lesson for Your Kids

Here's one more New Year's Resolution you might add to your list: Training your children to be aware of internet/online security or cyber security. As many are aware, cyber security is the protection of assets and data from electronic attack. This includes protecting your personal computers, mobile phones and tablets. In today's world, it is… Continue reading Cyber Security Lesson for Your Kids

January 2020 Newsletter

Tax and Financial Planning Calendar for January 2020

Month Income Taxes Saving and Investing JANUARY 4th quarter 2019 estimates due 1/15/20 Expect to receive W-2s and 1099s by January 31, 2020 Review your withholdings for 2020, and, if necessary, file a new W-4 Form with your employer to adjust your withholding Prepare a W-2 for your Nanny by January 31st if you paid… Continue reading Tax and Financial Planning Calendar for January 2020