The Internal Revenue Service has extended the deadline for individual taxpayers to file their 2020 federal income taxes from April 15 to May 17. The extension is a welcome reprieve for many Americans who are still sorting out the rules regarding unemployment benefits and stimulus payments related to the COVID-19 pandemic. The additional month also…

On March 29, Annuity.org published its latest feature article, “Impact of COVID-19 on Women in the Labor Force,” which examines workplace disparities, financial challenges and resources for working women. An estimated 2.5 million women left the labor force between February and December 2020 — compared with 1.8 million men. The participation rate of women in…

The National Center for Health Statistics last month released its provisional life expectancy estimates for the first half of 2020. A division of the Centers for Disease Control and Prevention, the NCHS collects official vital statistics data, including birth and death records, to produce national life tables. Based in part on provisional death counts from…

Financial lingo can seem like a foreign language, and annuities have their own unique product-specific vocabulary. Annuity.org has released a new, comprehensive glossary of financial terms to define complex financial terminology. Kim Borwick, author of the glossary and senior editor for Annuity.org, explains, “Jargon and technical language permeate most industries, but when it comes to…

When people ask about tax write-offs, what they usually mean is, “how can I reduce the amount of taxes I owe?” The easiest way to accomplish this is by offsetting self-employment income with related expenses. The IRS refers to these as “ordinary and necessary” business expenses. Common deductible expenses include things such as office rent,…