This column will give a glimpse into every day life rather than a history of one specific item. Things that happened in Hoopeston as it grew and people’s memories from those earlier days.

Local & Social Scene




Records

Adrianna Lohrbach and Travis Creveling welcomed their child, a girl, into the world at 10:13 p.m. May 5, 2020 at Gibson Area Hospital in Gibson City.

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After a pair of dominating performances at regionals and sectionals, Hoopeston Area High School sophomore wrestler returned to the Illinois High School Association State Finals last week.

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A group of four Republican state representatives is calling for a state audit of the Illinois Department of Employment Security to examine a data breach at the agency and its continued slow adaptation to the unprecedented number of unemployment claims during the COVID-19 pandemic.

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A group of four Republican state representatives is calling for a state audit of the Illinois Department of Employment Security to examine a data breach at the agency and its continued slow adaptation to the unprecedented number of unemployment claims during the COVID-19 pandemic.

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MoneyTips

Congratulations! You have saved for your child's education using a state 529 plan and built up a decent nest egg to send him or her off to school or college with minimal financial worries. Once a choice of school is made, you can apply the 529 funds toward the educational costs — but beware of these mistakes that parents make when first withdrawing from 529 plans.

Assuming the Process is Automatic – People are so used to the automated aspects of financial services that they expect 529 accounts to work in the same way. In the case of a 529 plan, you must request that the funds be withdrawn and direct them accordingly. Check with your 529 plan to verify the options. Typically, you can direct the funds to the school, beneficiary (student), or to the owner (parents). In all cases, you must initiate the withdrawal.

Not Correctly Assessin...

Back to School Savings

Check Before Using Your 529 For Pre-College Education

44% Of Parents Feel Guilty Over Inadequate College Savings

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MoneyTips


By Andrea Woroch

The first round of stimulus checks was sent out to millions of Americans across the country, with $218.4 billion paid out so far in an effort to ease the financial strain caused by the coronavirus outbreak. Although these payments provide some relief, using the money wisely is crucial in creating more financial stability.

According to a recent survey from the financial services firm IPX 1031, it appears consumers are making smart decisions with their stimulus payments so far. The study found that 29 percent of Americans plan to save this money, while another 20 percent will use it to pay their mortgage. However, the survey also found that 17 percent will pay off debt, 7 percent will pay their utility bills and another 11 percent will use it for "other" expenses. Although these seem like sensible strategies, there is a lot to consider w...

Life Without A Safety Net

Recovering From A Financial Emergency

Americans Still Not Saving... But Don't Care!

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MoneyTips

Saving for your child or grandchild's higher education is one of the most important investments you can make for his or her future. To make saving for college easier, the Qualified Tuition Program or 529 plan was created. Named after section 529 of the Internal Revenue code, it is a federal-income-tax-free savings plan to be used for qualified educational expenses. Many states throughout the country also offer their own versions of the 529 plan; those are administered by state agencies and other organizations.

Two different 529 plans available

Currently, there are two different versions of the 529 plan from which to choose:

  • Prepaid tuition plans - These plans allow for the pre-purchase of tuition based on today's interest rates, with money to be disbursed when the beneficiary enters college. Prepaid tuition plans are usually managed by state organizations or by colleges and universities. The funds in prepaid tuition plans ...

Why Aren't 529 Plans More Popular?

Back to School Savings

Check Before Using Your 529 For Pre-College Education

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MoneyTips

College costs are spiraling to the point where a four-year major college education is approaching or exceeding the cost of your house. Like many Americans, you may not be able to foot the entire cost of a college education, but a prudent savings plan can reduce the amount of aid your child will have to seek – and ultimately, how much debt they will graduate with.

What are the best methods for saving for college? Here are a few:

  • 529 Plans – Qualified tuition programs or 529 plans, named after Section 529 of the tax code, are investment accounts that are operated by states that allow anyone to contribute to funds for your child's education, building up funds tax-free as long as they are used for that purpose. They are great for allowing kids to contribute early to their own education funds.

    The Tax Cuts and Jobs A...

Back to School Savings

Check Before Using Your 529 For Pre-College Education

Why Aren't 529 Plans More Popular?

  • Updated

MoneyTips

Are you a procrastinator who waits until the very last moment to file your taxes? The filing deadline is July 15, 2020, to file your taxes for the 2019 tax year. The IRS and Treasury Department extended the tax filing and payment deadline from April 15 to July 15, due to the COVID-19 pandemic. In the interest of safety and to curb the spread of the coronavirus, all Taxpayer Assistance Centers have been closed temporarily and face-to-face IRS services have been suspended until further notice. See the IRS Coronavirus Tax Relief page for the latest updates and stay safe.

Start by reviewing your possible deductions. Did you just assume that it doesn't pay to itemize? Check out these 20 top tax deductions, and while you're at it, look over these

Only 25% Of Americans Know This Simple Tax-Savings Trick

Do You Qualify For An Earned Income Tax Credit?

Last-Minute Tax Day Filing

Michigan voters in November 2018 passed a ballot measure that legalized cannabis for recreational use, making the Great Lakes State the first in the Midwest to do so. The state’s retail cannabis market opened in late 2019 and within the first two weeks yielded $3.1 million in sales. By Jan. 2, 2020, that had reached $6.5 million.

Sorting through all the latest health fads, trends and research-based health information can be as stressful and overwhelming as shopping for a new car. You want to avoid getting swindled into something that isn’t right for you, and you want to ensure that what you’re investing in actually works and provides the biggest bang for your buck.

Every team needs a coach — a point person with experience,

Sustaining a twisted ankle, waking up with body aches and a fever or enduring a respiratory infection that makes it difficult to breath may all cause someone to question if they should get checked out by a doctor; and, if so, where should they go?

LOS ANGELES - Dondae Settles felt he had no other choice. State and local officials had forced him to shutter his South Los Angeles barbershop to slow the spread of the coronavirus. With rent on his commercial spaces due on the first of the month, the 44-year-old said he needed to find a way to bring in money. So under cover of night in late March, Settles and a friend hauled a heavy salon ...

MINNEAPOLIS - The death of George Floyd in Minneapolis police custody this week has renewed concerns about Sen. Amy Klobuchar's time as a Hennepin County prosecutor as she is being vetted as a potential running mate for Democratic presidential candidate Joe Biden. The selection of Biden's No. 2 is unfolding as many blacks - a key voting bloc for the party - are looking for Biden to show he is ...

VA secretary grilled on Nazi grave markers at military cemeteries WASHINGTON - Veterans Affairs Secretary Robert Wilkie on Thursday wouldn't commit to removing three headstones containing swastikas and messages honoring Adolf Hitler from the graves of German prisoners of war, frustrating House lawmakers. Wilkie said he wanted to work with members of Congress to put such anti-Semitic and racist ...

Partnering with the Chargers on a stadium isn't going well for the Rams, who must bear all cost overruns, now estimated at $2.5 billion, and saw the Chargers undercut them on ticket prices. The strain puts more stress on the Rams to win games. In other words, can coach Sean McVay come to the rescue once again? The Rams had no winning seasons in the 13 years before McVay, as a rookie head ...