Money Today That Matters Tomorrow
Under the Inflation Reduction Act (IRA), the EV Tax Credit was extended for several more years. It will also be expanded to cover both new and used cars. The original EV tax credit, known as the plug-in electric vehicle credit, has been rebranded to the Clean Vehicle Credit (CVC) under …
Democrats and President Biden finally got additional funding for the IRS via the enacted Inflation Reduction Act (IRA). The final bill allocated nearly $80 billion to the IRS over the next 10 years to cover additional enforcement/audit actions, taxpayer services (like more options to call the IRS) cryptocurrency tracking and …
The following article provides a discussion and update on the Cost of Living Adjustment (COLA) over the last few years and predictions for the upcoming year. The COLA figure is critical for over 65 million Americas, especially retirees whose social security and SSI benefit raise is directly tied to the …
Over the last few years millions of people got used to stimulus checks and government relief programs to bail them out of tough financial situations. With rising inflation now hitting the financial pocketbooks of nearly every individual and business, governments are now back to handing out free money to those …
There is little doubt we are well into an interest rate tightening cycle with the Federal Reserve Open Market Committee (FOMC) aggressively raising short-term federal fund rates. This is in turn affects many other short and longer term product rates (e.g Mortgages) which directly impact consumers and businesses. How High …
While the IRS sends lots of notices out during the year, common ones related to IRS adjustments made to your tax return are in the CP11 to CP14 range. These notices are mainly related to calculation errors found in your tax return that the IRS was able to adjust. As …
Texas has been one of the hottest housing markets over the last decade. Thanks to booming cities like Austin, Dallas, Houston and San Antonio; coupled with no state taxes many Americans have flocked to the Lonestar state and driven up property prices. But the question being asked my many buyers, …
Many Americans have been waiting several months for their tax refund, missing stimulus checks, unemployment benefits or some other government payment. They have tried calling the paying agency, responding to letters, posting on social media and almost all other avenues they can think off. Yet have not seen much movement …
The stock market has weathered moments of fear, falls and panic over the past decade. But each time, the market came roaring back and set new records, leaving investors to ask why they sold in the first place! I keep reminding myself of this logic, which is reinforced by many market …
So after seeing a lot of buzz around the amazing yields being paid on Treasury Series I Savings Bonds (I-Bonds), I decided to take the plunge and buy some for my wife and I as a place to park some cash while the stock market gyrates and inflation remains stubbornly …
Call yourself a freelancer, part-time Uber driver, online advertiser, Airbnb host, full-stack and backend remote blah blah; Congrats and either way you are now a business owner and are responsible (among many other things) for paying taxes. And, IRS loves this 😋☕ If you have been selling products or services …
While the IRS promises to have regular season tax returns and associated refunds processed within 21 days for the vast majority of filers, it does take quite a bit longer for them to process amended tax returns and associated refund payments. As discussed below, many tax payers have been waiting …
I have received a few comments from readers asking me if it is to late to file a return after the regular tax season deadline (April 18th this year); and what happens if they forget to file for an extension? I also get asked what happens if they owe taxes …
Are we headed for a recession or we are already in one? That’s the question many people asking nowadays. The economy and stock market has been temperamental in recent months, with the positives from low unemployment and high job growth offset by rampant inflation and ongoing geopolitical uncertainty (Russia-Ukraine war). …