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Taxes

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First Southern National Bank has partnered with Banzai to bring you clear, in-depth lessons to help you dive into the financial topics you care most about.

The Power of Diversification

2024-01-12T18:07:35+00:00June 15th, 2023|

Building a successful investment portfolio requires careful consideration and strategic planning. One key principle that has stood the test of time is diversification. Come with us as we explore the benefits of investing in a diversified portfolio. By spreading your investments across different asset classes, industries, and geographical regions, you can mitigate risk, enhance returns, and achieve long-term

Completing a Return

2024-01-02T21:11:01+00:00March 23rd, 2023|

Filing a tax return is a matter of following the line-by-line instructions that come with your tax form. Each form has its own set of instructions and includes a number of charts and worksheets to help you figure out if you're eligible for credits, deductions, and exemptions. But before you begin to deal with

Advance Child Tax Credit Payments in 2021

2021-07-12T18:11:31+00:00June 29th, 2021|

The IRS has announced that there will be significant changes to the Child Tax Credit beginning in July 2021. CHILD TAX CREDIT 101 The IRS has announced that there will be significant changes to the Child Tax Credit beginning in Summer 2021. These changes aim to help families who may need additional

Your Tax Return Pre-Game

2021-03-24T13:05:18+00:00March 23rd, 2021|

Your Tax Return Pre-Game HOW IT WORKS Filing taxes can be intimidating—but not when you have a game plan. In this Coach session, learn the basics of filing your taxes, and how key factors like filing status, deductions, and credits influence what you owe (or get back!). To begin, select Get Started. Follow the prompts, answer the questions,

The tax deadline has been updated!

2021-03-24T13:46:47+00:00March 23rd, 2021|

The deadline to file your taxes is now May 17. The IRS announced that it is extending the deadline, so individual income tax returns are now due May 17. That is 31 days later than the original deadline. No additional paperwork is needed to take advantage of this extension. Keep in mind that

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Paying Taxes

2020-08-06T20:35:48+00:00August 6th, 2020|

When tax season comes around, you need to be thorough to make sure you pay what you owe and save where you can. PAYING TAXES Whether you're buying a new home, changing jobs, getting promoted, starting a business, or raising children, you'll run into income tax implications. But that doesn't always mean you'll

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Tax Planning

2020-08-06T19:25:39+00:00August 6th, 2020|

By planning ahead, you can legitimately reduce the tax you owe. The most effective way to pay the least tax that you are legally obligated to pay is to make financial decisions with an eye to their tax consequences. For example, one way to reduce your current income tax is to contribute to a tax-deferred retirement

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Completing a Return

2020-08-06T17:42:35+00:00August 6th, 2020|

Your tax return tests you much like a standardized test, but it doesn't have to be as complicated as it seems. Filing a tax return is a matter of following the line-by-line instructions that come with your tax form. Each form has its own set of instructions, and includes a number of charts

Coach: Make the Most of Your HSA or FSA

2024-01-05T14:03:55+00:00August 6th, 2020|

Coach: Make the Most of Your HSA or FSA HOW IT WORKS Both an FSA and HSA lower your taxable income while providing a way for you to pay for health care costs, but they're not quite the same. This Coach will provide information on both types of accounts, guide you through estimating your health care

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Meet Your 401(k)

2024-01-02T21:46:27+00:00July 1st, 2020|

If you’re lucky enough to be introduced to a 401(k), you’ll make a friend for life. Even if you’re just starting your first real job—actually, especially if you’re just starting your first real job—it’s time to start thinking about retiring. That’s not a comment on how motivated or unmotivated you are, or a

What To Do With Your Stimulus Check

2021-04-06T16:01:35+00:00April 22nd, 2020|

As 2020 and the Coronavirus (COVID-19) pandemic proved, the unexpected can come along at any time. To assist those affected, the federal government has approved several rounds of stimulus packages to support Americans during difficult times. Eligible taxpayers who filed tax returns for either 2019 or 2020 will automatically receive an economic impact

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Checking Out Charities

2020-06-30T18:49:38+00:00April 17th, 2020|

You've heard people say that it's better to give than to receive. But what does that really mean? Checking Out Charities Many people associate giving with charity, and donating money to help those who are in need. You can also make donations to organizations that support causes that you believe in. There are

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