Money Today That Matters Tomorrow
The IRS has released the latest 401(k), IRA and Roth individual contribution limits including income qualification and phase-out thresholds. See the tables below for limits and changes over the last few years. 401(k) Limits IRA Limits Tax deductible IRA contributions are based on qualifying income ranges and spousal participation in …
Wherever you stand on the COVID-19 vaccination debate, there is little doubt that after January 4th the updated White House Guidelines around mandatory vaccinations will hit unvaccinated workers personal finances -whether they stay with their employer or quit. With more than 745,000 Americans having died from COVID and over 70,000 …
As economic conditions worsen, inflation soars and a recession looms, many workers who quit and retired early as part of the great resignation are now seemingly having second thoughts about leaving their jobs sooner than planned. According to a Bloomberg report, nearly 20 million Americans who quit their jobs in …
As the world gets back to a new normal after countless months of pandemic induced change many working professionals are finding it difficult in adjusting back to the way things used to be. In particular going into the office on a regular basis while trying to balance personal/life commitments has …
While Biden’s Build Back Better (BBB) bill has proposed funding that will allow the expanded child credit to be paid in monthly installments in 2022 it has been held up in Congress as Sen. Joe Manchin of West Virginia is refusing to endorse the CTC extension and overall bill without limiting the payment to …
As the calendar year comes to a close, investors are looking to diversify their portfolios and identify what to invest in next. With cryptocurrencies reaching historic highs, the real estate market surging, and an overall stock market pushing forward, we might just end one of the best performing years for …
[Updated with IRS Adjustments and Trump Tax Bill] Per the federal tax code the IRS is required to adjust dozens of tax related items for inflation on an annual basis. Given the persistently high levels inflation as evidenced in the recent COLA increases, the IRS has again announced significant increases …
The 2022 tax year will be quite different from 2021 given the number of expiring provisions, which will see reduced refunds for many Americans in 2023. This article will cover some of the main tax changes, so you don’t miss out on any of the major tax credits or deductions …
The SSA released the final figure for the 2022 COLA increase which affects nearly 70 million Americans collecting social security and SSI benefits. The 2022 raise was 5.9%, which translates to an extra $92 in retirees’ average monthly benefit next year. It was nearly 5 times last years increase. See …
Millions of Americans have filed a tax return are now waiting for the IRS to finish processing and a refund payment (where applicable) to be made. The IRS guidelines state that 9 out of 10 returns should be processed within 21 days but as many tax payers have found, this …
Most people dream of living a comfortable life without worrying about money. Though many people see this as lofty dreaming about yachts and summer homes, more and more people are turning these ideas into an achievable reality and gaining financial independence at a staggering rate. Financial independence means that you’re …
[Updated with latest developments] President Biden and the Democrats have finally passed a scaled down version of the BBB act, known as the Inflation Reduction Act (H. R. 5376). Key provisions include: Medicare Savings: Introduction of a $2,000 annual cap on Medicare recipient contributions to prescription spending. This gives seniors …
The Biden Administration has now confirmed that they won’t extend federally funded unemployment benefits past the September 6th expiration date. They are instead encouraging states with high unemployment or hit hard by COVID-19 Delta to use existing ARPA stimulus funding to extend and expand traditional state unemployment benefits for as …
With federal unemployment benefits expiring after the week ending September 4th in states that didn’t end pandemic benefits early, many are asking what will happen to their active claim balance if they have weeks left after the expiry date. The answer unfortunately is that active balances under the PUA and …