Andy | Saving to Invest

Do I Need to File a Federal Income Tax Return? Maybe Not If You Meet These IRS Guidelines even Though it Could be a Good Idea

[Updated Income Thresholds] The Internal Revenue Service (IRS) recommends that all adults file a tax return. Obviously, the IRS wants to have everyone pay their taxes but it is also an important way for the government to ensure that it pays out subsidies, stimulus payments and tax credits to the…

2026–2027 Updates: Best Online Tax Filing Software and Free Filing Options

The IRS Free File AGI limit for 2026 is $89,000 — the highest it's ever been. If your adjusted gross income lands at or below that number, free guided filing is available through 8 partner software companies. Above it, you're paying. Here's what's worth using this year and what's changed.…

Rental Property Tax Rules in 2026: 1099 Reporting, FBAR, and the New Depreciation Rules

Two separate reporting requirements tend to get conflated by landlords and anyone with money outside the U.S.: issuing 1099s to contractors you pay for property work, and disclosing foreign financial accounts to the Treasury. Both have real deadlines and real penalties, and both changed meaningfully under recent legislation. 1099 Reporting…

Overtime Pay Rules in 2026: Who Qualifies, the Exempt Salary Threshold, and How to Calculate It

Overtime pay in the United States is governed by the Fair Labor Standards Act (FLSA), and the core rule hasn't changed in decades: covered, non-exempt employees must be paid time-and-a-half for every hour worked over 40 in a workweek. What has changed for 2026 is the salary level that determines…

The Federal Estate Tax Exemption Is $15 Million in 2026 — And Now Permanent

The federal estate tax exemption is $15 million per person for 2026 — up from $13.99 million in 2025, according to the IRS's 2026 inflation adjustments. A married couple can shield up to $30 million combined using portability. This isn't just another annual inflation bump. The One Big Beautiful Bill…

Negotiating Your Severance Package in 2026: State Rules, Shrinking Payouts, and What to Ask For

No federal law requires your employer to pay you a dime of severance when you're laid off. Only two states — New Jersey and Maine — mandate it at all, and only in specific mass-layoff situations. Everywhere else, severance is 100% a negotiation, which is exactly why so many people…

Job Search Tax Deductions Are Gone Federally — Here’s What’s Actually Still Deductible in 2026

If you're searching for a new job in 2026 — maybe after a layoff or severance negotiation — the resume help, mileage to interviews, and employment agency fees you're paying for are not federally tax-deductible, and haven't been since 2018. The 2017 Tax Cuts and Jobs Act (TCJA) suspended this…

2011 Tax Brackets – Updated IRS Federal Income Tax Tables and Income Thresholds

[Update] - See this article for 2012 and 2013 Tax Rates/Brackets The IRS has released its 2011 Tax Rates and Income thresholds following approval of the Bush-Era Tax Cuts. The latest 2011 IRS federal tax table is shown below with the following key tax changes: Personal exemptions and standard deductions…

2026–2027 Updates: Child Tax Credit (CTC) and Kiddie Tax — Thresholds, Eligibility, and OBBBA Changes

The Child Tax Credit (CTC) is $2,200 per qualifying child for the 2026 tax year, following the One Big Beautiful Bill (OBBB) signed in 2025. That $200 increase from the prior $2,000 level is now locked in permanently and indexed for inflation going forward. For most families, not much has…

2026 Year-End Tax Planning: 15 Moves to Make Before December 31

As the year winds down, a few hours reviewing your tax situation can save you real money. Not every move here will apply to you — some are for itemizers, some are for retirees, some are specific to your income level. But there's almost always something worth acting on before…

2026-2027 Medicare Premiums, Deductibles and IRMAA — Part A, B and D Amounts

The headline number for 2026: the standard Medicare Part B premium is $202.90 per month, one of the larger year-over-year jumps in the program's history, with the Part B annual deductible at $283. For most retirees the premium comes straight out of the monthly Social Security check — which is…

401(k) to IRA Rollovers — Direct vs. 60-Day Rules (and Avoiding the 20% Withholding Trap)

The safest way to move money from an old 401(k) to an IRA is a direct, trustee-to-trustee transfer — the funds never touch your hands, so none of the deadlines or withholding rules below even come into play. Do it the other way, where the check gets sent to you…

Deficit Reduction Plan: Solve America’s Debt Problem By Cutting Taxes, Social Security, Medicare and Federal Retirement Benefits

To tackle America’s growing national debt problem, President Obama put together a task force earlier this year to look at options on how to cut government spending, implement tax reform and improve the effectiveness of federal entitlement programs. The deficit reduction commission co-chairs (Erskine Bowles and Alan Simpson) put forward…

2026-2027 FSA Contribution Limits — Health Care and Dependent Care (Major Increase to DCFSA)

FSAs don't get nearly the attention they deserve. Every year during open enrollment, I see people scroll past the FSA election screen without a second thought — and that's money left on the table. The basic idea is straightforward: you elect a dollar amount before the year starts, it comes…