rescovwc

A gift for Resurrection Covenant Church’s warming center

During the Lenten season, Covenant Trust Company raises money around the office for a Covenant ministry. Employees who make a donation can wear jeans to work on Fridays; we call this fundraiser “Levis for Lent,” and it’s been a fun and successful tradition at the office for the past several years. This year, AJ Gomez,…

Map-GPS

CTC tips: debt manager and net worth tracker

    Have you ever driven somewhere you’ve never been before? If you have, you likely used directions, a map, a GPS, or some other kind of tool to guide you to your destination. You probably didn’t get into your car, drive away, and simply hope for the best. Unfortunately, that’s how many of us approach our financial goals. We have…

Tax Refund dos donts

What are your plans for your tax refund?

  Although it may not always be ideal to have a large tax refund, it’s definitely better than owing the IRS. If you’re not sure how to spend it yet, check out Mint’s suggestions in their infographic, “When to Expect Your Tax Refund (and how to spend it!)” While it is tempting to go shopping after receiving a…

Nest Egg3.gif

Required Minimum Distributions for Traditional IRAs

A Traditional IRA requires you to take a distribution after you turn 70 ½. This is called a Required Minimum Distribution, often referred to as an RMD. Your RMD is calculated by dividing the amount in your IRA as of December 31st of the previous year by your life expectancy (as estimated by the IRS). So,…

Hands-Taxes

CTC tips: 2015 tax limits

It’s March, so it must be tax season. For the first several months of the year we focus a significant amount of time on the tax side of our work.  There is always something new – some new regulations to incorporate into reporting and new rules to work through. We like to use this time early…