May 14, 2020
Our hope is this week’s newsletter brings brighter days and more hope. During these unprecedented times, you have likely had LOTS of idle time to think – and lots of good can come out of thinking! However, sometimes too much thinking can be tricky, as our minds, during idle times, wander in spaces we don’t often like to think about. Hopefully some of the content in this newsletter will be helpful to help alleviate or minimize those anxious feelings and help you re-center your attention into positive energy and focusing on what you can control.
REMEMBER, if you know of someone in our Goodwill family that is not connected to our communications, please pass this along. Reach out and check on a co-worker you haven’t talked with in a while – it feels good to talk to familiar voices.
Stay healthy and be well.
Have you heard of aromatherapy?
Aromatherapy is a holistic healing treatment that uses natural plant extracts to promote health and well-being. Aromatherapy uses aromatic essential oils medicinally to improve the health of the body, mind, and spirit. It enhances both physical and emotional health.
Experts are not sure how aromatherapy works exactly. Chemicals in essential oils might trigger smell receptors in your nose that send messages to the part of your brain that controls your mood, suggests the Mayo Clinic.
Aromatherapy is the use of organic compounds to improve your mood, mental state, or health. Those organic compounds are called essential oils. They are made from various plant parts, such as roots, seeds, leaves, and blossoms.
They can be used alone or blended to create different combinations. You can diffuse essential oils into the air, dissolve them in a bath, apply them during a massage, or use other methods to spread their aroma.
Using aromatherapy alongside other treatments may help boost your mood and relieve stress during these uncertain times of COVID-19.
Billions of federal coronavirus relief dollars are flowing directly into Americans' pockets, but you may have to send some of that money back to Uncle Sam come tax time!
The good news: Your stimulus payment is all yours!
The bad news: If you're out of work, you will owe federal -- and possibly state and local -- taxes on any unemployment benefits you collect, including the temporary $600 weekly boost approved by Congress as part of its economic rescue package.
All the federal and state unemployment payments you receive are subject to federal income tax and potentially state and local income taxes, depending on where you live. The extra $600 could provide nearly $10,000 in income if you receive it for the full four months -- and that's before you factor in state benefits.
You can opt to withhold taxes from your weekly benefit through your state unemployment agency, pay estimated taxes quarterly, or wait until you file your return. If requested, states typically withhold 10% for federal taxes and an additional amount to cover their levy, if applicable. Please note that will receive a Form 1099-G showing the amount of unemployment compensation you received for the year and any income tax withheld.
When to pay the taxes owed depends on your financial situation. Some experts suggest you have the money taken out weekly so you aren't stuck with a big tax bill later, while others say it might be better to get the full benefit now and pay the taxes later when you may have a job and more income.
If you are unsure if you elected for taxes to be taken out of your state and federal unemployment benefits, no worries! You can log into your MiWAM online account, go to “claimant services”, then click on “update withholding” to make the changes.