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Important Tax Update | Ep 178

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Choose FI has partnered with CardRatings for our coverage of credit card products. Choose FI and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. Disclosures.

Brad discussed the aggregation of marginal gains and looks at all the little things he does to save money, like searching for coupon codes every time he buys something online.

Jonathan encourages you to use this time to do that thing you know you should do but haven’t. He’s also getting into David Goggins and his book Can’t Hurt Me which is about how David Goggins completely transformed his body and mind.

Also, don’t let this be a time to give up working out. Go for a run. Do bodyweight exercises. Find a way to stay fit despite the changes in your routines and schedules.

Tax Deadlines

Sean Mullaney from the FI Tax Guy called in to let us know that 2019 tax returns and tax payments are due on July 15th.

You should still go ahead and file if you are ready and getting a refund. However, if you owe taxes you should wait to file. The reason is because tax software needs time to be updated with the new dates. If you file right now, it may show that your payment is due on April 15th.

Most states are also working on delays. So double-check with your state.

Estimated Tax Payments For 2020

Quarter 1 estimated tax payments have been pushed back to July 15th. But Quarter 2 tax payments are still due on June 15th as of right now. This is continuing to evolve so stay tuned.

Where To Keep Your Emergency Fund

We recommend using a high yield savings account like CIT Bank’s Savings Builder Account. As of today, they are offering 1.25 interest on this savings account.

Help With The Mask Shortage

If you want to help with the current mask shortage please check out our new Masks page here.

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Choose FI has partnered with CardRatings for our coverage of credit card products. Choose FI and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. Disclosures.
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