Does Checking Your Credit Score Hurt It? The Truth About Credit Inquiries
Your credit score plays a big role in your financial life - it can determine whether you qualify for a loan, the interest rates you receive, and even your ability to rent an apartment. But one common concern many people have is whether checking their credit score will lower it. The short answer? It depends on... Read More
6 Benefits of Filing Your Taxes Early
Tax season can feel overwhelming. But putting off filing your return until the last minute won’t make it any less daunting. Truth be told, filing your taxes early has several advantages that can make the process easier and more beneficial in the long run. Instead of waiting until the last minute, consider filing as soon... Read More
Do I Have To Pay Taxes On Cryptocurrency?
The short answer is Yes, you must pay taxes on cryptocurrency. Here’s why:The Internal Revenue Service (IRS) estimates that less than 25% of cryptocurrency gains are being reported to the IRS, leading to a $688,000,000,000 tax gap in 2021 alone. That’s a LOT of zeros! Given that discrepancy, it’s no wonder the IRS is introducing a... Read More
Tax Deductions for Remote Workers: What Can You Claim?
Remote work is here to stay—and while it brings flexibility and new opportunities, it can also introduce unexpected expenses. The good news is that there are several tax deductions available for remote workers. The bad news is that they were suspended until 2026 by the Tax Cuts and Jobs Act (TCJA) of 2017 for almost all... Read More
How Loan Pre-Approval Works and Why It Matters
Let’s face it: borrowing money can be intimidating. Whether you’re planning to consolidate debt or handle an unexpected emergency, the borrowing process can feel like a maze. Getting pre-approved is a smart first step. Here’s everything you need to know about how loan pre-approval works and why it’s important.What Is Loan Pre-Approval?Loan pre-approval is an initial... Read More
What Is Credit Utilization, and Why Does It Matter?
When it comes to managing your finances, understanding credit utilization is a game-changer. It plays a big role in your credit score and can even impact your chances of getting approved for loans or credit cards.But what exactly does credit utilization mean, and why should you care? In this post, we’ll break it down and... Read More
9 Ways to Avoid Common Budgeting Pitfalls
Creating a budget is one of the best things you can do for your financial health. It helps you track your spending, save for your goals, and avoid unnecessary debt. However, many people fall into common budgeting traps that can make the process less effective - or even discouraging. Whether you're just starting to budget or looking... Read More
How to Create a Debt Repayment Plan That Works
If you’re anything like most Americans, you’re probably carrying some debt, if not drowning in it. Whether it's from student loans, credit cards, or medical bills, debt can feel like a heavy burden. The good news is you don’t have to navigate this financial challenge alone. AMG Finance is here to help with financial advice... Read More
What is Taxable Income? Surprising Sources You May Need to Report
Taxable income is the portion of your income that the Internal Revenue Service (IRS) can tax. It includes not only the wages you earn from your primary employment but also other sources of income that may surprise you. Understanding what counts as taxable income is essential to avoid unexpected tax liabilities, penalties, interest, and audits.What is... Read More
