Andy | Saving to Invest

2022 Investing Considerations and Market Outlook For The Year Ahead – Stocks, Crypto, Bonds and Real Estate

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…

Understanding Increased Standard Deduction Updates And Impact on Your Paycheck and Tax Refund in 2025 and 2026

[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…

7 Considerations for the 2022 Tax Year – Individual and Small Business Tax Breaks, Credits & Deductions When Filing in 2023

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…

2022-2023 Social Security and SSI Raise via Record COLA Increase

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…

Your Tax Return is Still Being Processed. A Refund Date Will Be Provided When Available – Latest News and 2024 Updates

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…

How Much Money Do You Really Need to Be Financially Independent?

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…

Biden and Democrat’s 2022 Stimulus Package (Inflation Reduction Act) Impacts, Payments and Tax Considerations – Updates and Latest News

[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…

Federal Unemployment Benefits Extension and $300 Boost To End But States Can Likely Use Existing Stimulus Funding To Extend State Unemployment Benefits

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…

What If I Have A Claim Balance or Weeks Remaining After September When 2021 Unemployment Benefit Extensions For PUA, PEUC and $300 Weekly Boost End

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…

Pending Unemployment Benefits To Be Paid Conditionally

In response to ongoing delays in making timely unemployment benefits payments, California's Unemployment Agency - The Employment Development Department (EDD) - has announced that it will begin paying unemployment insurance benefits for claimants whose payments have been pending for at least two weeks. While this currently only being done for…

Extended Benefits Still Available after Unemployment Ends? Or Extended Due to Delta COVID strain as the Unemployment Pandemic is Far From Over? Biden vs State Funding

As the COVID-19 Delta variant spreads rapidly across the US many are worrying about the economic impact from additional regulations, state/national safety mandates and business reopening delays. But even of more concern to millions of jobless or under-employed Americans, still recovering from the pandemic induced slow down, are the end…

IRS Still Getting Crushed Processing Backlog Of Tax Refunds Further Delaying Refund Payments

The National Taxpayer Advocate Service (TAS) releases regular reports to Congress on the IRS and how they are performing on various issues. In particular the focus has been on tax return and refund processing delays, which have been ongoing causes of consternation for many filers. Key findings from recent reports…

Will The Debt Ceiling be Raised in 2023 and Who’s to Blame for This Mess – Republicans or Democrats? Latest Updates and News

This article looks at the current and past debt ceiling debacles and potential impacts to everyday Americans Basically if the debt ceiling (currently $31.4 trillion) is not raised, the government would not be able to borrow more money to pay its bills, which could lead to a default on its…

Opt-Out For Monthly Child Tax Credit Payment Or Your 2021 Refund Could be Lower in 2022

Like millions of American households, I got my monthly advance CTC payment deposited in my bank account today! For most this is awesome news because there were genuine concerns that there could be long delays with the IRS making these ARPA funded payments. You can see more on the Advanced…