Your Safe Money Show Are home improvements tax deductible 4 27 24

Highlights for Saturday April 27th Your Safe Money Show

 Coming up on this Saturday's Your Safe Money Show Todd will go into detail about what home improvements are tax deductible? There are considerations you should know about selling your home to downsize in retirement. And he’ll have “Spring Cleaning” to remove clutter in your “financial” house. Listen at 8 a.m. at Nice 95.5FM KBEK. They stream live at kbek.com. Hear recent shows at yoursafemoneyshow.com.

Complimentary financial materials

 Just a reminder if you go to yoursafemoneyshow.com on the home page scroll down and you will see all the available guides, booklets and the safe money kit. You can ask for any or all of these financial materials. We can mail them to you, or you can stop at the office at 139 Union Street in Mora. You can always call 855-226-6639 that’s 855-22 money. And there’s no cost or obligation.

Retirement the "ultimate" trip

 If you’re planning a summer “road trip” I saw ideas to go “BIG”. Let me explain. I found a huge yard sale that stretches 690 miles across 6 states. It’s held on the first Thursday to Sunday of August and is named the 127 Yard Sale because it stretches along Highway 127 from Michigan to Alabama. You don’t have to go far either in Minnesota you can check out: The world’s largest Paul Bunyan in Akeley. The Biggest Ball of Twine is in Darwin. Big Ole’ America’s Biggest Viking is in Alexandria. Of course there’s the Spam Museum in Austin. The Jolly Green Giant in Blue Earth and of course we can’t forget the Giant Dala Horse right here in Mora. So, I’ve done my part for tourism, but let’s face it, we “plan” when we take a road trip and retirement is the “biggest” trip of all, so when you need a guide, I am here to help. Call 320-679-5183 or go to yoursafemoneyshow.com.

Your Safe Money Show Why your home insurance is high 4 20 24

Unclaimed property information

 I had someone ask me about unclaimed property the other day so I thought I’d share. There is $70 billion dollars worth of unclaimed property being held by state treasurers. The types of assets that end up with states range from uncashed paychecks or rebate checks to inactive brokerage accounts and unpaid life insurance benefits. So how do you check to see if you have unclaimed property? Here’s a website that you will want to remember missingmoney.com. Missing Money dot Com is the only website endorsed by States and Provinces working together to reunite you with your lost funds. State treasurers get new unclaimed property turned over to them every single day. Another website to go to is unclaimed.org

Your Safe Money Show Creating a saving strategy 4 13 24

April 13th Your Safe Money Show topics

 Coming up on this Saturday's ( April 13th) edition of Your Safe Money Show. Todd will have, how to rethink your 401(k) options when you reach 59 and a half. He’ll share 10 things you didn’t know about Medicare. And how to create a saving strategy. Listen at 8 a.m. at Nice 95.5FM KBEK. They stream live at kbek.com. Hear recent shows at the podcast page at yoursafemoneyshow.com.

Tee hee

 

The lottery and taxes

 Here's just a little explanation about taxes with the lottery: You may have heard there is officially one winner for the $1.128 billion Mega Millions jackpot. A single ticket sold in New Jersey won the game’s fifth-largest grand prize after matching all six numbers drawn recently. The lucky winner will choose between two options: an annuitized prize worth $1.128 billion or a lump-sum payout of $536.6 million cash. A CPA clarified what we’ve always heard saying: Regardless of the payout option, “you’re losing almost half of it” to taxes. New Jersey taxes prizes over $10,000 and the winner will owe millions to the state, including a mandatory withholding, on top of their federal tax bill. Before seeing a penny of the jackpot, the winner will pay a 24% mandatory upfront federal withholding to the IRS. If they choose the $536.6 million cash option, the 24% withholding automatically reduces the prize by about $129 million. However, the jackpot pushes the winner into the top federal tax bracket, which is 37% for 2024. After the 24% withholding, the winner could still owe another 13% in federal taxes, or about $70 million.

Your Safe Money Show Basic money questions 4 6 24

April 6th highlights for Your Safe Money Show

 There are many basic money questions that stump U.S. adults, so Todd will have how to boost your financial literacy. If you want to preserve your wealth Todd will have how life insurance can help you with that. And the age-old question is “where do I fall in the American Economic Class System?

Refunds

 The tax deadline of course is approaching, and the IRS has already issued more than 43 million refunds worth nearly $135.3 billion. The latest filing statistics show the IRS had received less than half of the more than 146 million individual returns expected for the 2023 filing season. Taxpayers can check their refund status with the “Where’s My Refund?” online tool. The status will appear 24 hours after a taxpayer e-files a current-year return or four weeks after paper returns are filed.

Your Safe money Show Spring clean your finances 3 30 24