TAX 9866 Lecture Notes - Lecture 50: Home Equity, Federal Funds Rate, Loan
Document Summary
Emergency fundnow is the time: defined generally as enough cash/liquid investments to cover costs for six months, additional cash expected from federal legislation (not yet passed into law) ,200 in direct payments to taxpayers with incomes up to ,000 per year before starting to phase out and ending altogether for those earning more than ,000. Families would receive an additional per child: determine if your income stream will change (tax refund?) Utilize inc in diff way than normally would: determine how much credit you have available credit cards, home equity , reduce spending. Not recommended : hardship withdrawal form 401(k) also not recommended . To the extent that you dont have sufficient emergency fund; or youre advising someone (friend/family) who doesnt have sufficient fund doesnt mean its a disaster. Fed govt stimulus is going to provide $ to tp. How much credit do you have available. Cc, personal loan, home equity loan, home equity line of credit.
