According to Investopedia, financial literacy is the knowledge and application of various financial skills. These may include creating a budget, understanding how credit works, and saving for retirement. Financial literacy includes understanding different financial instruments, such as stocks, bonds, ETFs, and creating an investment plan.
Primerica think so. So as many other financial institutions. States are now taking a closer look at teaching financial literacy. The State of Florida think so. The State passed SB 1054: Financial Literacy Instruction in Public Schools.
The law states that public schools must teach financial literacy. The areas that must be thought are:
- Types of bank accounts offered, opening and managing a bank account, and assessing the quality of a depository institution’s services.
- Balancing a checkbook.
- Basic principles of money management, such as spending, credit, credit scores, and managing debt, including retail and credit card debt.
- Completing a loan application.
- Receiving an inheritance and related implications.
- Basic principles of personal insurance policies.
- Computing federal income taxes.
- Local tax assessments.
- Computing interest rates by various mechanisms.
- Simple contracts.
- Contesting an incorrect billing statement.
- Types of savings and investments.
- State and federal laws concerning finance.
A Tax Refund Advance or Refund Transfer are both bank products. Meaning that the taxpayer has opted to have his or her refund deposited with a bank of his or her choice.
The difference is that a tax refund advance is a loan. Where as a tax refund transfer is a means by which you pay the tax Preparer’s fee.
PREMIER Financial Tax & Accounting Services dba Friendly Tax Services offer both these services. A Refund Advance and Refund Transfer. We partnered with the premier banks, Republic Bank & Trust Company in Louisville, Kentucky and Santa Barbara Tax Products Group a Green Dot Company to get you the best service.
Contact Us or Call Us – (866)542-9551
According to Republic Bank, a Republic Bank Refund Transfer (RT) allows customers to pay for their tax preparation fees with their refund check from the IRS. A Refund Transfer Fee will be charged in addition to the tax preparation fees upon receipt of your income tax return from either the State or the IRS.
If the first disbursement check is not sufficient to cover tax preparation and republic bank fees, then the second disbursed check will also apply to the outstanding fee balance.
A Refund Transfer has three main characteristics.
If you have not received your first or Second Stimulus Payment, no problem. Call Us @ (866)542-9551 or email us at firstname.lastname@example.org | We will file a CLAIM i.e. tax return for you.
You will Need to provide us with the following:
1. A valid State Issue ID – or Driver’s License
2. Social Security Card or ITIN issued Number
3. Place of Residence or Where you Receive Your Mail
4. Zoom or Google Meet or a Video Chat if Necessary or whatever other video chat you used.
If you didn’t get the full amount of the first or second payment you were eligible for, you may be eligible to claim the 2020 Recovery Rebate Credit and must file a 2020 tax return, even if you aren’t required to file.