March 2021 Newsletter

 
 
Thu, Apr 1 at 9:33 AM
 

Parable Financial Network

Parable Financial Network
Jan Clark
501 Gloucester St
Suite 205
Brunswick, GA 31520
912-387-0111
jan.elkins@parablefinancialnetwork.com
www.parablefinancialnetwork.com

April Newsletter

 

Bulletin - Hallelujah, He is Risen!5 Things about Palm Sunday that Remind Us Christ is King

  1. God's Word tells us the people cut palm branches and waved them in the air, laid them out on the ground before Jesus as He rode into the city. The palm branch represented goodness and victory and was symbolic of the final victory He would soon fulfill over death.

    “O death, where is your victory? O death, where is your sting?” 1 Cor. 15:55

    2. Jesus chose to ride in on a donkey, which directly fulfilled Old Testament prophecy of Zech. 9:9. In Biblical times, it was common for kings or important people to arrive by a procession riding on a donkey. The donkey symbolized peace, so those who chose to ride them showed that they came with peaceful intentions. Jesus even then reminded us that He is the Prince of Peace.

    "Rejoice greatly, O daughter of Zion! Shout aloud, O daughter of Jerusalem! Behold, your king is coming to you; righteous and having salvation is he, humble and mounted on a donkey, on a colt, the foal of a donkey." Zech. 9:9

    3. When the people shouted "Hosanna!" they were hailing Christ as King. That word actually means "save now," and though in their own minds they waited for an earthly king, God had a different way in mind of bringing true salvation to all who would trust in Him.

    "Blessed is he who comes in the name of the LORD!" Ps. 118:26

    "If you confess with your mouth that Jesus is Lord and believe in your heart that God raised him from the dead, you will be saved." Rom. 10:9

    4. The Bible says that Jesus wept for Jerusalem. In the midst of the praise of the moment, He knew in His heart that it wouldn't be long that these same people would turn their backs on Him, betray Him, and crucify Him. His heart broke with the reality of how much they needed a Savior.

    "As he approached Jerusalem and saw the city, he wept over it, and said, "If you, even you, had only known on this day what would bring you peace--but now it is hidden from your eyes." Luke 19:41-42

    5. Palm Sunday reminds us that the reign of Christ is far greater than any the mind of man could ever conceive or plan. Man looked for someone to fight their battles in the present day world. Yet God had the ultimate plan of sending His Son to fight the final battle over death. This is the greatness of why we celebrate this week. Because of Christ's ultimate sacrifice, we can be set free of death.

    "Jesus said to her, 'I am the resurrection and the life; he who believes in Me will live even if he dies,'"John 11:25

    We have so much to be grateful for this week. The enemy knows that, and you can bet, he's going to do everything he can to try and distract us away from the true meaning of what this Holy Week means. Don't let him win.

    In this Holy Week, may God direct our thoughts and attention towards what matters most, Jesus Christ our King...

    Let's choose to focus on worshipping our Lord, thanking Him for the gift of His sacrifice, celebrating the power of the Resurrection, and the new life found in Him alone. Grace. "Thanks be to God for His indescribable gift!" 2 Cor. 9:15

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Ways to Refinance

What Are Some Smart Ways to Refinance?

Recently, fixed mortgages were near their lowest rates in almost 30 years. And if you are one of the many people who took out mortgages in the few years prior to that, you may be wondering if you should look into refinancing.

If your mortgage was taken out within the past five years, it may be worthwhile to refinance if you can get financing that is at least one to two points lower than your current interest rate. You should plan on staying in the house long enough to pay off the loan transaction charges (points, title insurance, attorney’s fees, etc.).

A fixed-rate mortgage could be your best bet in a rising interest rate environment, if you plan to stay in the house for several years. An adjustable mortgage may suit you if you will be moving within a few years, but you need to ensure that you will be able to handle increasingly higher payments should interest rates rise.

One way to use mortgage refinancing to your advantage is to take out a new mortgage for the same duration as your old mortgage. The lower interest rate will result in lower monthly payments.

For example, if you took out a $150,000 30-year fixed-rate mortgage at 7.5 percent (including transaction charges), your monthly payment is now $1,049. Refinance at 6 percent with a 30-year fixed-rate mortgage of $150,000 (including transaction fees), and your payment will be $899 per month. That’s a savings of $150 per month, which you can then use to invest, add to your retirement fund, or do with it whatever you please.

Another option is to exchange your old mortgage for a shorter-term loan. Your 30-year fixed-rate payment on a $150,000 loan was $1,049 per month. If you refinance with a 15-year fixed mortgage for $150,000 — including transaction costs — at 6 percent, your monthly payment will be $1,266. This payment is only $217 more than your previous mortgage, but your home will be fully paid for several years sooner, for a savings of more than $150,000! And some banks around the country offer 10- and 20-year mortgages.

Either way you look at it, it’s an attractive idea.

If you’re considering refinancing your mortgage, consult your financial professional and determine whether refinancing your home would be a good move for you.

NOTE: These are hypothetical examples of mathematical principles used for illustrative purposes only and do not represent the performance of any specific investment. Actual results will vary.

Tax Day for individuals extended to May 17: Treasury, IRS extend filing and payment deadline

IR-2021-59, March 17, 2021

WASHINGTON — The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. The IRS will be providing formal guidance in the coming days.

"This continues to be a tough time for many people, and the IRS wants to continue to do everything possible to help taxpayers navigate the unusual circumstances related to the pandemic, while also working on important tax administration responsibilities," said IRS Commissioner Chuck Rettig. "Even with the new deadline, we urge taxpayers to consider filing as soon as possible, especially those who are owed refunds. Filing electronically with direct deposit is the quickest way to get refunds, and it can help some taxpayers more quickly receive any remaining stimulus payments they may be entitled to."

Individual taxpayers can also postpone federal income tax payments for the 2020 tax year due on April 15, 2021, to May 17, 2021, without penalties and interest, regardless of the amount owed. This postponement applies to individual taxpayers, including individuals who pay self-employment tax. Penalties, interest and additions to tax will begin to accrue on any remaining unpaid balances as of May 17, 2021. Individual taxpayers will automatically avoid interest and penalties on the taxes paid by May 17.

Individual taxpayers do not need to file any forms or call the IRS to qualify for this automatic federal tax filing and payment relief. Individual taxpayers who need additional time to file beyond the May 17 deadline can request a filing extension until Oct. 15 by filing Form 4868 through their tax professional, tax software or using the Free File link on IRS.gov. Filing Form 4868 gives taxpayers until October 15 to file their 2020 tax return but does not grant an extension of time to pay taxes due. Taxpayers should pay their federal income tax due by May 17, 2021, to avoid interest and penalties.

The IRS urges taxpayers who are due a refund to file as soon as possible. Most tax refunds associated with e-filed returns are issued within 21 days.

This relief does not apply to estimated tax payments that are due on April 15, 2021. These payments are still due on April 15. Taxes must be paid as taxpayers earn or receive income during the year, either through withholding or estimated tax payments. In general, estimated tax payments are made quarterly to the IRS by people whose income isn't subject to income tax withholding, including self-employment income, interest, dividends, alimony or rental income. Most taxpayers automatically have their taxes withheld from their paychecks and submitted to the IRS by their employer.

State tax returns

The federal tax filing deadline postponement to May 17, 2021, only applies to individual federal income returns and tax (including tax on self-employment income) payments otherwise due April 15, 2021, not state tax payments or deposits or payments of any other type of federal tax. Taxpayers also will need to file income tax returns in 42 states plus the District of Columbia. State filing and payment deadlines vary and are not always the same as the federal filing deadline. The IRS urges taxpayers to check with their state tax agencies for those details.

Happy Easter From Parable Financial Network