Name: Prepare for Tax Day
Uploaded: 2020-07-13T14:50:19-0400
Duration: 265599
Description: Summer isn't when we typically talk about filing taxes, but we've had an extra three months to file this year due to the pandemic. The deadline to file taxes is Wednesday, July 15. Scott Braddock, a Raleigh based financial professional, joined WRAL's Ken Smith and offered some advice if you still haven't filed your taxes.

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Summer isn't when we typically talk about filing taxes, but we've had an extra three months to file this year due to the pandemic. The deadline to file taxes is Wednesday, July 15. Scott Braddock, a Raleigh based financial professional, joined WRAL's Ken Smith and offered some advice if you still haven't filed your taxes.

THE LOW 90s OVER THE WEEKEND AS WELL. BACK TO YOU. >>> 9:47 NOW. THIS IS A FAMILIAR SITE. SUMMER IS NOT WHEN WE TALK ABOUT FILING TAXES. WE HAVE HAD THREE EXTRA MONTHS TO FILE BECAUSE OF THE PANDEMIC. THE DEADLINE IS JULY 15th. THIS MORNING, WE ARE JOINED BY SCOTT BRADDOCK, A PROFESSIONAL WITH ADVICE ON FILING TAXES. SCOTT, GOOD MORNING. >> GOOD MORNING. >> WE MENTIONED THE EXTRA TIME AND TAX LAWS HAVE CHANGED IN THE LAST YEAR OR TWO. HOW HAS THIS EXTRA TIME HELPED PEOPLE BASED ON WHAT YOU SEE? >> A LOT OF FOLKS DID AND HAVE STRUGGLED DUE TO THIS CORONAVIRUS PANDEMIC. AND HAVING THIS LITTLE EXTRA TIME HAS ALLOWED THEM TO TAKE CARE OF THEIR BUSINESS OVERHEAD AND TAKE CARE OF THEIR FAMILY AND PUT OFF PAYING TAXES IF THEY OWE TAXES. WHAT I'D LIKE FOLKS TO KNOW THIS MORNING IS IF YOU OWE, YOU NEED TO MAKE SURE YOU PAY BY JULY 15th, BEING THE NEW DUE DATE. YOU CAN FILE AN EXTENSION AND THAT WOULD GIVE YOU UNTIL OCTOBER 15th. KEEP IN MIND, IF YOU DO, YOU NEED TO PAY BY JULY 15th OR THERE WILL BE A FEE. DON'T T WAIT UNTIL THE LAST MINUTE. OFTENTIMES WHEN WE RUSH, WE MAKE TYPOS AND POOR CALCULATIONS. THAT CAN HOLD UP YOUR REFUND OR FLAG YOUR RETURN FOR AN AUDIT. >> AND ALSO REMEMBER TO SIGN IT. YOU HAVE ADVICE FOR RETIRES AS WELL. >> I DO. WITH THE CARES ACT IN EFFECT IN MID MARCH. RETIRES DON'T HAVE TO TAKE OUT A MINIMAL DISTRIBUTION THIS YEAR. THAT IS A TAX SAVINGS. THEY ARE ABLE TO KEEP THAT IN THEIR ACCOUNT. IN ADDITION, SINCE MOST FOLKS TODAY DUE TO THE JOBS ACT OF 2018, PEOPLE ARE TAKING ADVANTAGE OF DOUBLE THE STANDARD DEDUCTIONS AND PEOPLE ARE NOT ITEMIZING. THEY CAME TOGETHER WITH A TAX DONATION. YOU CAN CONTRIBUTE UP TO 100% OF YOUR ADJUSTED GROSS INCOME AS WELL. ANY TAX DONATIONS THIS YEAR WILL HELP FOR THE FOLLOWING YEAR. >> A LOT OF PEOPLE ARE SO USED TO ITEMIZING AND THIS YEAR, THEY ARE THINKING, I SHOULDN'T ITEMIZE. EXPLAIN TO THEM WHY IT IS OKAY NOT TO ITEMIZE. IT IS OKAY BECAUSE DUE TO THE NEW TAX LAW THAT WENT INTO EFFECT IN 2018, MOST FOLKS WOULD RATHER TAKE ADVANTAGE OF DOUBLE DEDUCTIONS, REDUCING THE OVERALL INCOME THAT IS TAXABLE. THAT IS A HUGE TAX SAVINGS ABOVE AND BEYOND ITEMIZING. I ALWAYS RECOMMEND THAT FOLKS TALK TO A TAX PROFESSIONAL SO THEY CAN BETTER UNDERSTAND THEIR SPECIFIC SITUATION AND BE SURE THAT TAKING AN ADVANTAGE OF THE DEDUCTION IS BETTER THAN ITEMIZING. >> WE HAVE BEEN DEALING WITH THE PANDEMIC FOR MOST OF THIS YEAR. HOW COULD TAX FILING BE DIFFERENT NEXT YEAR? >> THERE IS A LOT THAT NEEDS TO TAKE PLACE BETWEEN NOW AND THEN. A LOT OF GROUND TO COVER. I IMAGINE THAT THE TAX FILING DEADLINE WILL RETURN TO APRIL 15th. THERE COULD BE SOME OTHER IDEAS THAT LAWMAKERS ARE PUTTING TOGETHER RIGHT NOW. IT IS ONE OF THOSE WHERE WE WILL HAVE TO WAIT AND SEE WHAT THEY PUT TOGETHER FOR US. >> WE HAVE ABOUT 30 SECONDS. THE ONE THING YOU WANT PEOPLE TO KNOW WITH TWO DAYS LEFT. >> I THINK IT IS VERY IMPORTANT TO MAKE SURE YOU GET A HEAD START TO AVOID THE ERRORS. I REALLY WANT TO GIVE A TIP ON RETIREMENT PLANNING. A LOT OF FOLKS ARE MAXIMIZING THEIR 401K'S AND IRA'S. WITH LOW TAX RATE ENVIRONMENT AND NORMAL DEDUCTIONS WE WERE TALKING ABOUT, I WANT TO ENCOURAGE FOLKS TO LOOK AT LOSS. I ALWAYS TELL FOLKS, IT IS LIKE NOT HAVING TO PAY TAX ON THE HARVEST. THERE IS LITTLE GOING INTO A ROTH BUT THEN THEY GROW TAX FREE. WE CAN TAKE TAX FREE DISTRIBUTIONS FROM THOSE IN THE FUTURE. THIS COULD BE AN EXCELLENT EMPOWERING RETIRING VEHICLE. >> EXCELLENT ADVICE, THANKS FOR

Ken Smith

Valerie Aguirre

Prepare for Tax Day

9AM Show,9AM Show Extras,coronavirus,coronavirus economy,pandemic,personal finances,taxes

WRAL-TV News Broadcasts: Watch each newscast live or watch the most recent newscast on demand.

WRAL Late News 

Get the latest WRAL WeatherCenter Forecast whenever you need it, including the DUALDoppler5000 and the 7-Day Forecast.

I'm meteorologist, Kat Campbell in the wr a severe weather center, a turbulent week ahead with more storm threats on the horizon, severe weather threats, a level two risk Wednesday and Thursday because of that these days and nicer wr weather alert days. If we take a look at our cold front, it's still well to the west. But as it gets closer to us, we're going to have more forcing for storms to develop and a ripe atmosphere for those storms to intensify, damaging wind gusts and hail are the main concerns though an isolated tornado will be possible. Storms most likely Wednesday night overnight into early Thursday and there could be another chance later Thursday, depending on how that Wednesday night round evolved. So let's first talk about the Wednesday a few hit or miss storms possible pretty much anywhere during the afternoon, but the main, so look like it would come overnight. So we're talking past midnight, likely through very early Thursday morning, 234, 5 a.m. And then the second round approaches from the west and depending on how that first round goes, that's going to determine the strength and the timing of the second round. This model in particular has a moving through a bit early in the day. We'll watch to see if that trend holds. Keep checking in for updates as we get closer to Thursday for Wednesday. It's hot, high temperatures in the upper eighties to lower nineties just isolated storm chances during the day. But that chance, of course, going up later at night, if we look at how hot it's been this spring, it's pretty remarkable. It feels more like summer than spring and it is the warmest spring to date on record at RDU. Temperatures are running 4.7 degrees normal, almost five degrees above normal. We do have a cold front coming and some below normal temperatures briefly return at the forecast Friday, 78. Still some scattered storms around Saturday. We dry out to start the weekend, 75 of the high and near 80 on Mother's Day. Mother's Day is trending drier on Sunday with more sunshine. And you, I notice the cooler weather this weekend when you get to the nighttime hours early in the morning lows dip back in the fifties. A much drier, less humid air returns for the weekend. That should last until early next week. But we still have to get through the turbulent weather first. The worst of it comes Wednesday and Thursday, Friday still some scattered storms. But at this point, those are less likely to be severe.

WRAL WeatherCenter Forecast

Daytime Pick 3 and Pick 4 drawings are held at 3 p.m. daily. They can be seen as live or on-demand video.

Hey there. Good afternoon. I'm Noah Klein. Welcome to this afternoon's draws for Tuesday, May 7th 2024. Let's get it going here with Carolina pick three. That first pick three number is seven. Second number is zero third, number two, pick 35. Roll number is seven. Joining me for this afternoon draws our auditor from mcconnell and Jones L LP. Now let's move to the Carolina pick four. That first pick four number is seven. Second number six, eight. Fourth number is nine and our pick for a firewall number is five. The North Carolina Education lottery contributed over $10 billion education. Thank you for your support. Get your winning numbers each day at 3 p.m. and again at 11:22 p.m. right here on your exclusive station for the North Carolina Education Lottery.

Daytime Pick 3 and Pick 4 Drawing

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Nightly N.C. Education Lottery drawings during the 11 p.m. News.

Good evening. I'm Gail Hurd. Welcome to tonight's joining for Monday, May 6th, 2024. Well, let's get started tonight with our Carolina pick three. Our first winning number is a three. Our second number is three again and our third number tonight is a six at our pick three. Fireball number is eight. Join me for tonight's joining is our auditor from mcconnell and Jones L LP. Now let's move to the Carolina pick four. Good luck. Everyone who's their first winning pick four number, it's a zero. Our second number is two. Third number is six and our fourth number tonight is three and our pick for a fireball number is also two. Well, turning now to the Carolina cash five. No one was the top price tonight. Tomorrow's top prize is estimated at $418,000. Good luck. Everyone who's at first winning cash five number. It's the number one. Our second number is four third number tonight is 22. Our fourth number is 26 and the final number in our cash five this evening is nine, the North Carolina education lottery has contributed over $10 billion to education. Thanks to your support. Get your winning numbers right here every night in your exclusive station for the North Carolina Education lottery. Thanks for playing. Have a great night.

Evening Pick 3 Pick 4 and Cash 5

Monday, Wednesday, and Saturday Powerball drawings, as shown live on WRAL.

Good evening, America. I'm Michelle Isles. Tonight. We've got another life changing jackpot for you in an estimated amount of $214.9 million. Get your tickets out. We'll start things off tonight with the number 60 right after that America. We have 56. Let's congratulate better late than never of Maryland who won $50,000. Your next number up tonight is seven. That's followed by 24 and we'll round it out tonight with 23 now for your winning powerball number. Good luck, everyone. It is 25 and your power play multiplier is two. Let's take another look at those winning numbers. Remember there are multiple ways to win. We'll see you back here Wednesday night. Good night, everyone. It's time to play America's favorite jackpot.

Powerball Drawing

Wake County residents are expected to learn more on Monday about how much their property tax bills will increase and how much the county will allocate toward public schools.

Wake County leaders discuss property tax hikes, money for schools during budget presentation

Loved ones are gathering for a memorial service for Deputy U.S. Marshal Thomas M. "Tommy" Weeks Jr.

GRACE WAS DRIVING WITH A REVOKED LICENSE AT THE TIME. >> RIGHT NOW, FAMILY AND FRIENDS ARE SAYING A FINAL GOODBYE TO ONE OF THE OFFICERS KILLED DURING THE SHOOTING IN CHARLOTTE LAST WEEK. WR IS NO KLEIN IS HERE WITH HOW THOSE WHO KNEW HIM BEST ARE REMEMBERING DEPUTY THOMAS WEEKS. KNOW, JEFF, WE HAVE HEARD A LOT ABOUT DEPUTY U.S. MARSHAL THOMAS WEEKS KNOWN BY THOSE WHO KNEW HIM BEST AS TOMMY. THE MEMORIAL SERVICE HONORING HIS LIFE AND SACRIFICE STARTED THIS MORNING AT ABOUT 10, 30. IT CONTINUES AT THIS HOUR. THIS IS A LIVE LOOK INSIDE. WE JUST HEARD FROM HIS WEEK WIFE KELLY WHO SPOKE ABOUT WHO HE WAS AS A HUSBAND. SHE SAID HE ALWAYS WANTED TO HOLD HER HAND. WEEKS IS SURVIVED BY HIS WIFE AND 4 CHILDREN. HE WAS WITH THE U.S. MARSHAL SERVICE FOR 13 YEARS. ALSO WORKED 8 YEARS FOR CUSTOMS AND BORDER PROTECTION. I WANT TO PLAY NOW PART OF HIS WIFE'S EULOGY. SPEAKING ABOUT TOMMY HAS JUST A GREAT FATHER. >> HE WAS A LOVING FATHER. TO NOT ONLY TO HIS KIDS, BUT ALSO HIS STEPCHILDREN. HE ENJOYED EVERYTHING FROM WATCHING. PATRICK WHEN HE WAS PERFORMING. TO HIS NIGHTLY GOOD. NOT HUGS AND I LOVE YOU TO ACT. HE WOULD MAKE DUNKIN DONUTS RUNS FROM MCKINSEY EVEN AFTER MOM SAID NO. ANY TO BRADY TO DC TO SEE US FIRST CAPITALS GAME YEARS. U.S. ATTORNEY GENERAL MERRICK GARLAND ALSO SPOKE AT THE SERVICE REFLECTING ON WHAT HE'S LEARNED ABOUT TOMMY FROM HIS COLLEAGUES. >> OUR OWN SAID AFTER HE SPOKE WITH WEEKS, HIS WIFE ON THE PHONE LAST WEEK, SHE ASKED WHAT HE NEEDED FROM HER TO SUPPORT THE MARSHAL SERVICE DURING THIS TIME LAST WEDNESDAY, PROCESSIONAL KERRY WEEKS, BODY FROM THE MEDICAL EXAMINER'S OFFICE TO THAT FUNERAL HOME IN MORRISVILLE. WE HAVE INFORMATION ON THE OTHER 3 OFFICERS KILLED THAT DAY AND WHO THEY WERE. YOU CAN FIND THAT OVER ON WRAL DOT COM. SO SAID WE'RE TALKING ABOUT

Prepare for Tax Day

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