Podcasts about mypay

Chime, the consumer fintech powerhouse, just filed to go public on the NYSE. On this podcast we'll cover everything you need to know before they hit Wall Street

Spencer and Jamie explain how to maximize TSP contributions under the Blended Retirement System (BRS), including calculating monthly contribution percentages and avoiding common mistakes that could result in missing matching funds. They break down the 2025 contribution limits and discuss strategies for both BRS and legacy retirement system participants. Here's the TSP BRS maximizing chart. Questions discussed: What are the TSP contribution limits for 2025? How do Roth TSP and Roth IRA limits differ? How should you calculate monthly TSP contributions under BRS? What happens if you front-load TSP contributions under BRS? How do you handle mid-year pay increases? What should you do if you over-contribute? How do you adjust contributions if starting later in the year? Resources mentioned: MilitaryMoneyManual.com/tsp TSP.gov MyPay r/MilitaryFinance subreddit Military Money Manual Instagram (@militarymoneymanual) TSP contribution calculator/chart on MilitaryMoneyManual.com NDAA 2025 proposed pay increases Blended Retirement System (BRS) overview For a limited time, Spencer is offering one-on-one Military Money Mentor sessions! Get your personal military money and investing questions answered in a confidential coaching call. Our new TSP course is live! Check out the Confident TSP Investing course at militarymoneymanual.com/tsp to learn all about the Thrift Savings Plan and strategies for growing your wealth while in the military. Use promo code "podcast24" for $50 off. Plus, for every course sold, we'll donate one course to an E-4 or below- for FREE! If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual or email podcast@militarymoneymanual.com. If you want to maximize your military paycheck, check out Spencer's 5 star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com. I also offer a 100% free course on military travel hacking and getting annual fee waived credit cards, like The Platinum Card® from American Express, the American Express® Gold Card, and the Chase Sapphire Reserve® Card in my Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. Learn how to get your annual fees waived on premium credit cards from American Express in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. The Platinum Card® from American Express and the American Express® Gold Card waive the annual fee for active duty military servicemembers, including Guard and Reserve on active orders over 30 days. The annual fees on all personal Amex cards are also waived for military spouses married to active duty troops.  

I've put a small, tax season gift for you on my website moneypilotadvisor.com. You can go there and download a free checklist “What Should I Consider When Reviewing My 2021 tax return”. This information also should help you prepare your return. If you take the standard deduction and made cash contributions to qualifying charities you can deduct up to $300 if you single or $600 for married filing jointly. A deduction reduces the amount of income we have to pay tax on. Be sure to have your donation receipts.If you recently married or divorced, review your filing status which is determined by your situation on December 31, 2021. If you married any time last year, you'd be considered married for the entire year. The same as true if you had a child born in 2021. You would qualify for the child tax credit for the entire year. If have dependent children under age 18 you may qualify for the child tax credit. In 2021, half this tax credit should have been paid to you directly in monthly payments beginning in July. As long as you still qualify, you're eligible to get the rest of the credit when you file your tax return. But you need to report the total amount you have already received  You can find this information in a letter the IRS sent to you, or from you online IRS account, or even reviewing you own bank records.If you paid child care expenses for a dependent child under 13 so you and your spouse (if you're married) could work or pursue work, you can also qualify for the Child and Dependent Care tax credit. If you have dependent children or your spouse in college you may qualify for the Lifetime Learning Credit or the American Opportunity Tax credit. There are quite a few rules associated with all these tax credits. So be prepared to answer questions about your family situation in detail  and bring receipts when you talk with your tax preparer or use tax preparation software to do it yourself.  Did you receive the third COVID  Economic Impact Payment (EIP3)  in spring 2021? It was  $1,400 single, $2,800 for a married couple, PLUS $1,400 per dependent child or qualifying dependent relative. There was a phase out over certain income. If you enter the wrong amount you received on your tax return, it will go through a manual review at the IRS  delay any refund for months. The IRS is supposed to mail out reminders this month or in March of the amount of EIP3. If you don't have the IRS letter, go back and look over your bank statements from spring 2021 to find it. If you find you owe more tax or get a higher refund this year than you expected consider changing your W-4 withholding through HR or military MyPay to adjust it.Watch out for 1099 forms you should receive which report your investment capital gains, dividends, interest, and other income. You may need to log into your accounts and download them yourself. The key is to make sure you've rounded them all up and have them on hand.One thing catching people off guard is reporting their income, gains and losses from trading, staking, interest, or rewards in crypto or digital assets. These are treated like other investments for taxation. It is critical to detailed records of all your transactions, even if you use a broker like Coinbase or Venmo. The 1099s they issue may have partial or inaccurate information.  If you've been an active trader, I highly recommend you use a CPA knowledgable in crypto to help you with your taxes and make sure your record keeping is up to snuff. 

When changing your Thrift Savings Plan (TSP) contributions. three dollar limits that apply The annual limit  is $20,500. This limit is to the combined total that you can contribute in 2022 to your Traditional and Roth TSP combined. This limit does not apply to Traditional TSP contributions made from combat pay. The next limit  is $6,500 on additional catchup contributions for those turning age 50 or older in 2022. So if that's you, can make total TSP contributions of up to $27,000. For military in a combat zone, your contributions toward the catch-up limit must be Roth. And you can't contribute toward the catch-up limit from incentive pay, special pay, or bonus pay.The third limit  is the $61,000 Annual Addition. Its the total amount of all the contributions that can be made to your TSP a year. This limit is includes your employee contributions and for you BRS military and FERS civilians the Automatic 1% Contributions, and up to 4% Matching Contributions. It doesn't include catch-up contributions. The annual addition limit affects mostly our military service members who can contribute tax-exempt pay earned in a combat zone up to this  limit.Next decide how much your can and want to contribute. Remember with ROTH TSP, you pay your income taxes now, up front on your contributions. So you will have less money paycheck each pay period when you contribute to ROTH TSP than if you contribute to Traditional TSP. YFor more info listen to Episode 28 Meet ROTH and Episode 30 To ROTH or Not to ROTH.Civilian employees usually designate a dollar amount to contribute from each paycheck, while our service members will need to elect a percentage. FERS civilians and BRS military, in order to get your full match, you need must contribute at least 5% of your pay in every single pay period to get your full match. If you hit one of those limits before the end of the year, you give up that match from your pay for the rest of the year. Check out their online Elective Deferral Calculator .  You'll need your most recent LES and guess how many pay periods it will take your personnel center to make the change to your pay. For Military and DoD civilians, MyPay says, it will be effective at the beginning of the next pay period. So enter 0 for this box. The calculator will give you the new amount you can contribute each remaining pay period if you want to maximize your contributions for 2022. Pick what you can afford, or that max number from the website, whichever is lower for your contribution.Next use your electronic payroll system to change your TSP contributions. For  military service members and DoD civilians thats myPay. For other for federal employees there are other payroll systems, like Employee Express, EBIS/GRB, LiteBlue, and NFC EPP. Generally, feds will use enter the dollar amount and service members a percentage of your pay. Military can keep this simple by contributing from your base pay. Take the monthly TSP contribution you want to make, divided by your monthly base pay, times 100Then go to myPay and log in. Under the “PAY CHANGES” heading, select the “Thrift Savings Plan (TSP)” link. Then click the yellow pencil icon to make a change to your TSP contribution. Enter your changes in the pop-up window. Enter that percentage in the base pay box for either Traditional TSP or ROTH TSP or split between both. There's boxes to enter percentages for other pays  as well.Then click Continue to review then Submit.

Merry Christmas and welcome back to the podcast. I hope yo've a had a bit of a break to spend time with the ones you love. Here's a special shout out to our military and civil servants that are spending another holiday far from home and family. We love you and we're thinking of you. Thanks for being there for us.Today's podcast is a short one. It's a time for rest, fun, and joy. So believe it or not today's podcast is on how our military service members can change their income tax withholding and change your Servicemen's Group Life Insurance (SGLI). Whaaat? REALLY? Why? Who wants to think about this at Christmas. Especially if you've been in awhile you know almost any personnel action you have to do that's related to your pay is a pain, can go bad fast, involves who knows what paperwork and chasing done the right person to hand it to.So this Christmas, my gift to you is the ‘EASY” button for changing your SGLI and W4 withholding. It's the Christmas miracle of military paperwork. If you are getting a big refund each year or a nasty tax surprise at filing time, you can instruct your employer to change your withholding amounts by filling out a new W4. I did an entire episode on the W4 Withholding form in Episode #40 Withholding. So refer back to that to see what information you need to update your withholding. And I'll put a link in the show notes to the IRS Form W4 too. https://www.irs.gov/pub/irs-pdf/fw4.pdfFor our serving and retired military and DoD civilians it is, no kidding, easy. You log into your MyPay account at  https://mypay.dfas.mil/#/. The information you input directly on the MyPay website is the same as the W-4 form. On MyPay look for the Pay Changes category and under that you can chose federal withholding or state withholding. Fill in the blanks online and its all done online in a few minutes.The other Christmas miracle easy task is changing your SGLi. Our serving military now can make changes to your SGLI online using the the SGLI On-Line Enrollment System (SOES). Go to MilConnect (link again in show notes) https://milconnect.dmdc.osd.mil/milconnect/ On the MilConnect main home page you'll find front and center a “I want to…” section and Manage my SGLI is an easy to see choice. Once you click that button, you'll be prompted to sign in with your DS login, your CAC card, or your DFAS myPay credentials. Your choice. You'll se a ‘If you have had a life event” choice. If you've gotten married since you joined the military, or divorced, had children, or a previous beneficiary has passed, now is a good time to relook how much coverage you have and who you have listed as beneficiaries. You can change your amount of coverage and beneficiaries  all on-line, oh so easy.And that's it for today! If your end of year to-do list or New year's resolution includes finally updating your income tax withholding or SGLI coverage. Hop on it. So quick and easy. A military Christmas miracle.

Born and raised in White Plains, NY, went to college at Elon University, NC. Joined Air Force ROTC, and commissioned as an officer in 2012. Since then, she has spent the last 9 years Active Duty Air Force. Currently stationed at Davis Monthan Air Force Base in Tucson, AZ, Ali has built a portfolio just shy of $1mm, and has enough saved up in stocks to have a financial runway for 4 years, and it all started with automating her investing. In 2022 she will be separating after 10 years of military service to do full-time what she is currently doing part-time: being a real estate agent with Five Pillars Team brokered by eXp. How to Reach Ali: tiktok: Ali_the_Agent ali@garcedrealty.com or alexandra.garced@exprealty.com Sites Mentioned in the show: Mypay.dfas.mil Tsp.gov Military.defense.gov Biggerpockets.com Rentometer.com Asr.pima.gov (to check tax amount, and what it's coded/being taxed at) AlexandraGarced.exprealty.com https://alexandragarced.exprealty.careers/ https://fivepillarsrealty.com/ourteam/ https://www.instagram.com/ali_the_agent/ =|| Books Mentioned ||= scribe (9.99 a month) Rick Kid Smart Kid by Robert Kiyosaki - https://amzn.to/3zoPR4G Cashflow board game - https://amzn.to/2Xw2Hki 4 hour work week - Timothy Ferriss (audio book) - https://amzn.to/2XBalKs Bigger Pockets Publishing - https://amzn.to/3nPxDac THANK YOU FOR LISTENING! -- DISCLAIMER: I am not a CPA, attorney, insurance, contractor, lender, or financial advisor. The content in this audio are for educational purposes only. You must do your own research and make the best choice for you. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments. If you need advice, please contact a qualified CPA, CFP, an attorney, insurance agent, financial advisor, or the appropriate professional for the subject you would like help with. #AliTheAgent #RealEstateBooks #S2E11 #AboutThatWallet --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app --- Send in a voice message: https://anchor.fm/aboutthatwallet/message Support this podcast: https://anchor.fm/aboutthatwallet/support

Withholding estimator  https://www.irs.gov/individuals/tax-withholding-estimatorWritten instructions  How to Use the IRS W4 Tax Witholding EstimatorStep-by-step video  https://www.youtube.com/watch?v=1AidmxJ1O9UMyPay website (feds and military submit Form W-4 here)  https://mypay.dfas.mil/Well today we’ll talk about how  we determine withholding, and more importantly we’ll talk about how to do your withholding right. First, what is withholding? Federal taxpayers, like you and me, are required to pay income tax throughout the year on our taxable income. If you earn a paycheck working for an employer like a business or the government, they are required to withhold federal income tax from your pay and submit it to the IRS on your behalf. They use the IRS Form W-4, Employee's Withholding Certificate. Your employer usually fills out the W-4 automatically and has you sign it when you first start work. This mandatory withholding only applies to income you earn from an employer and pensions. If you are self-employed, earn money as a contractor that is reported on a Form 1099, earned interest on bank accounts, have rental income or other business income, or have dividends or capital gains from investments, you need know that there is no automatic income tax withholding for this income. You still OWE tax on it. But no one else will withhold it for you.You are required to submit those taxes either by submitting them yourself quarterly directly to the IRS or you can have extra income taxes withheld from you paycheck with your employer. You can have that extra tax withheld each pay period by filing an updated Form W-4. Most of you who are single with income almost entirely from a paycheck will find that the automatic W-4 that your employer provided does a pretty good job of withholding. What we are finding  are these automatic W-4’s are now coming up short if you have more than one job, if you’re a couple with very different incomes, or if you’re couple with more than two or jobs or other sources of income. Before you start the IRS’s new online W-2 tax withholding estimator, pull together your and you spouse's most recent pay statements or leave and earnings statements. Gather information for other sources of income you may have, including rental property, interest on savings, or dividends and capital gains from taxable investments. A great place to start is your 2020 income tax return. And make adjustments for changes you expect in 2021. I highly recommend you watch the  IRS step-by-step tutorial video on how to use it before you start. To locate just the amount of your government or military pay that is taxable, look on your LES in the section called Federal Tax. In that box you should see wages this period and wages year to date. You’ll need both numbers. To calculate you annual taxable income, multiply your wages this period by the number of pay periods in the year. The estimator will also ask for your wages to date and federal tax withheld year to date. Both are also found in that federal tax section of our LES. Print out the info from the estimator and use the results to complete a new Form W-4, Employee's Withholding Certificate. Then submit the completed Form W-4 to your employer.  All military members, military retirees and federal civilian employees using myPay can update their IRS Form W-4 on line at myPay. If you have any feedback or would like to have you question answered on a future podcast, you can always reach me through my website moneypilotadvisor.com. Talk with you next week.

DJ gives some hints for the use of MyPay that will be helpful for tax season.

☝️ En estos tiempos agilizar y mejorar tu proceso de compra dentro de las tiendas.es indispensable, ya que lo que se busca es tener experiencia grata al momento de realizar una compra, de manera segura y personalizada desde la comodidad de tu celular y así ahorrar tiempo y dinero.

In the age of everything mobile, it’s vital for government services to adopt digital transactions for their services and payments. But as with all agencies across the world, enabling this service for thousands of users can be challenging. We speak to Amanda Sabri from MyPAY on how they are enabling digital transactions within government services on a single platform.

Welcome to episode 52 of Open The Pod Bay Doors. This week we dive into career and experience of Michelle Deaker, Managing Parter at OneVentures. The firm has $330M in funds under management. Michelle serves on the investment committee of OneVentures three main Funds, leads the technology practice within the firm and is responsible for investor relations managing the supervisory boards of OneVentures funds.As well as being a VC, Michelle is also a scientist who double majored in Physics and Chemistry. Michelle has always had a passion for science, holding a Bachelor of Science (Honours 1st class), Master of Science a PhD (Applied Science), and her first role was in mineral physics at CSIRO. For Michelle, science teaches you how to learn.In the late nineties Michelle built an e-commerce store called Giftvouchers.com, which she started by owning every gift voucher domain name before turning it into one of the first Australian Fintech companies. Michelle raised $6.5M from HNW's to fund the venture, as they pivoted to B2B to manage 700M retailer gift cards across Australia. They sold the business in 2005 which was then acquired by a publicly listed UK company.Michelle spent the next year travelling back and forth to the UK and it was hear she got her first taste of angel investing, with UK business MyPay. This would lead her to launch the venture firm, OneVentures in 2006, a time when raising a fund was almost impossible. The firm has invested in 17 companies; recent investments include a nanopatch company, Vaxxas, that could be a game changer as it replaces needles for vaccinations and Smart Sparrow, which allows for adaptive lessons and rich media. It is now used by more than 200 institutions and has created hundreds of jobs. They’ve also currently achieved 3 exits with a couple more coming through in the pipeline.OneVentures is currently raising a $100m for Australia’s first venture debt fund and this year, will complete about 5 deals averaging a check size of $5-10m.Michelle is a trailblazer, being the first female founder of a venture fund in Australia, in fact according to Larry Marshall (CSIRO) she was at one point the only female founding venture partner in the southern hemisphere! Thankfully more women are entering the VC community. We really enjoyed our conversation with Michelle, one of Australia's great tech pioneers.

The Defense Finance and Accounting Service wants all service members to update information in MyPay, especially prior to separating.

Highlights of my conversation with Alex Falcon Huerta founder of Soaring Falcon Accountancy Technology used in a 100% cloud accounting practice Helping clients review future trends Where small business owners can look to improve profits How add-on solutions can promote themselves to accountants Mentions included :  Soaring Falcon Accountancy - http://soaring-falcon.co.uk/ Digita Virtual Office - https://www.digita.com/pro/ MyPay - http://www.mypay.uk.com/ Xero - https://www.xero.com/ Dropbox - https://www.dropbox.com/ Microsoft Office 365 - https://login.microsoftonline.com/ CrunchBoards - http://crunchboards.com/ Fathom - http://www.fathomhq.com/ Spotlight - http://www.spotlightreporting.com/ Stripe - https://stripe.com/ eWay - https://www.eway.com.au/ Receipt Bank - http://www.receipt-bank.com/ Tripcatcher - https://www.tripcatcherapp.com/