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Be More Diligent Than Ever
In April of 2020, I created a procedure to help GBFCU employees report fraud incidents with our members. As of December 31st, 2021, 228 claims and cases have been closed. As the COVID-19 pandemic began, I am glad that we started this initiative and finally created a department that can manage the tasks associated with […]
Year-End Tax Planning Tips
Everybody wants to save on their taxes. If you think tax-saving strategies are too complicated, you could be missing out on tax savings. There are a few simple tax-saving strategies available to nearly everyone. Tax planning is more than completing and filing your state and federal taxes. Year-end tax planning means going over potential tax […]
Watch Out for Fraud This Holiday Season
It’s the most wonderful time of the year! But as you begin your holiday shopping and party prepping, scammers are ready to take advantage of the season by scouring the internet for ways to steal your personal information and make it…not so wonderful. Stay alert and watch out for these common forms of fraud as […]
60 Day Rollover Rule – What You Need to Know
If you have a retirement account set up and you’re making regular contributions, that’s great! There may come a time when you need to move these retirement savings from one account to another, and there are rules that come with this transaction. A common reason that people initiate a rollover is because they are changing […]
5 Ways a Roth IRA Can Help Minimize Your Taxes in Retirement
1. Tax-Free Withdrawals Money that goes into a Roth IRA is after-tax dollars. Because you’ve already paid taxes on that money, once it is withdrawn, it comes out tax-free. There are some restrictions on those withdrawals if you want to avoid penalties and taxes. But keep in mind, you can withdraw your contribution at any […]
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