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While many retired clergy choose to enjoy their well-deserved season of rest, some seek ways to continue nurturing their spiritual calling.
The American Rescue Plan Act of 2021, H.R. 1319 was signed into law on March 11, 2021. It was designed to expedite the United States' recovery from the overwhelming economic and health effects of the COVID-19 pandemic. In this article we will explain some of the key provisions contained in the act and how they may affect your finances.
The act also includes specific tax provisions affecting both individuals and families.
Student loan tax forgiveness. While the plan does not include student loan forgiveness, it does include a provision that any student loan forgiveness passed between Dec. 30, 2020 and Jan. 1, 2026, will be tax free. Normally, loan forgiveness counts as taxable income.
For complete details of the American Rescue Plan Act, please visit
https://www.congress.gov/bill/117th-congress/house-bill/1319. If you have questions about how this legislation affects you, the MMBB staff of financial planners is available, at no-cost to assist our members. Contact us at 800.986.6222 or [email protected].
“The information contained herein is for informational purposes only. While MMBB made every attempt to ensure that the information is accurate, MMBB is not responsible for any errors or omissions or the results obtained from the use of this information. MMBB is not liable for any success or failure that is directly or indirectly related to the use of the information contained herein. The information contained herein does not constitute any financial, insurance, investment, legal, or tax advice. In no event shall, MMBB and/or its fiduciaries, directors, officers, employees, or agents thereof be liable for any special, direct, indirect, consequential, or incidental damages or any damages whatsoever, whether in action of contract, negligence or tort, arising out of or in connection with the use of the information contained herein.”
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Translations of any materials into languages other than English are intended solely as a convenience to the non-English-reading public. We have attempted to provide an accurate translation of the original material in English, but due to the nuances in translating to a foreign language, slight differences may exist.
Las traducciones de cualquier material a idiomas que no sean el inglés son para la conveniencia de aquellos que no leen inglés. Hemos intentado proporcionar una traducción precisa del material original en inglés, pero debido a las diferencias de la traducción a un idioma extranjero, pueden existir ligeras diferencias.
MMBB Financial Services is pleased to unveil our new website experience.
Watch a guided tutorial of our enhanced site to introduce you to important new features designed to help you live your life with financial confidence.
You will be linking to another website not owned or operated by MMBB. MMBB is not responsible for the availability or content of this website and does not represent either the linked website or you, should you enter into a transaction. The inclusion of any hyperlink does not imply any endorsement, investigation, verification or monitoring by MMBB of any information in any hyperlinked site. We encourage you to review their privacy and security policies which may differ from MMBB.
If you “Proceed”, the link will open in a new window.