Wood Financial Services LLC

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What is a Furlough?

On April 9, 2020, Posted by , In Benefits,COVID-19, By , , With Comments Off on What is a Furlough?

I’m sure you’re not surprised that I’m getting a lot of questions these days about “what is a furlough”, “will I be furloughed”, “how will a furlough affect me?”. First, what is a furlough? These days layoffs mean permanent loss of your job, while a furlough means you are still…

The drain of staying isolated

On March 31, 2020, Posted by , In COVID-19,Family,Know thyself, By ,, , With Comments Off on The drain of staying isolated

Some feel it more than others. The drain of staying isolated, as we get further into Stay At Home orders. Depending on your home situation, and how much of an introvert vs extrovert you are, and whether you’ve got an essential business position that you have to report to in…

Good example, or horrible warning?

On March 29, 2020, Posted by , In Know thyself,Margin, By , , With Comments Off on Good example, or horrible warning?

There’s a quote that goes something like “If you can’t be a good example, you’ll just have to serve as a horrible warning.” Many people are afraid to learn something new. They’re comfortable in their current expertise, their current friend circle, their current situation. Trying something new requires us to…

Additional tax implication COVID19 thoughts

On March 28, 2020, Posted by , In Benefits,COVID-19,Taxes, By ,, , With Comments Off on Additional tax implication COVID19 thoughts

Yesterday we talked about the CARES Act, focusing on the Economic Relief Rebate. Today we’re going to briefly cover two other financial implications of COVID19. First, a great graphic illustrating the rebate amounts vs AGI is hosted by the Tax Foundation. Second, separate from the CARES Act, the IRS has…

CARES act, or Economic Relief Funds part 2

On March 27, 2020, Posted by , In Benefits,COVID-19,Taxes, By ,, , With Comments Off on CARES act, or Economic Relief Funds part 2

Earlier this week we were talking about the possibilities of checks coming to Americans in this time of world-wide hardship. The US Congress passed, and the President signed, the CARES act into law today. We’ve talked previously about how major tax reform only comes around every ~20 years, and how…

The importance of distancing socially

On March 24, 2020, Posted by , In COVID-19,Family,Know thyself, By ,, , With Comments Off on The importance of distancing socially

It is well known that one of the risk factors for death in the elderly is loss of their important social groups, as friends, family, and pets die or are moved away. Still not convinced? Take some of your shut in time to read this book, The Blue Zones (no…

Economic Relief Funds

On March 24, 2020, Posted by , In COVID-19,Savings, By , , With Comments Off on Economic Relief Funds

Any time you’re looking at the prospect of incoming money, that money should have a plan. That’s true if you’re in normal times with a paycheck, getting a bonus or an inheritance, or now as the United States Congress is trying to come up with their economic relief plan that…

The super power of flexibility

On March 24, 2020, Posted by , In COVID-19,Family,Know thyself, By ,, , With Comments Off on The super power of flexibility

I’ve got to take a minute here to brag about my husband. I’m a planner, I am the reason the bills get paid on time, that there’s a meal plan, and groceries bought to support it. I’m the reason there’s consistently clean laundry (when we aren’t having plumbing problems), and…

But what can I do?

On March 15, 2020, Posted by , In Community build,COVID-19,Family,Margin, By ,,, , With Comments Off on But what can I do?

People are feeling very out of control currently, as the world is rapidly changing around them. After Friday’s press conference where the Minnesota governor was talking about how they didn’t plan to close schools, the Minnesota governor announced today (Sunday) that schools will be closed effective Wednesday. But some schools…

Why should I care about COVID-19?

On March 14, 2020, Posted by , In COVID-19, By , With Comments Off on Why should I care about COVID-19?

While out shopping today, stocking up for the impending self-quarantine of much of my family and active avoidance of anywhere we don’t absolutely have to go, I was distressed by the number of conversations I was overhearing by people who continue to plan to attend or host birthday parties, by…