Money Today That Matters Tomorrow
The Internal Revenue Service today advised that high-deductible health plans (HDHPs) can pay for 2019 Novel Coronavirus (COVID-19)-related testing and treatment, without jeopardizing their status. This also means that an individual with an HDHP that covers these costs may continue to contribute to a health savings account (HSA). In Notice 2020-15, …
It seems like 2008 and March 2020 all over again as stock markets around the globe continue to free fall against the backdrop of higher inflation and interest rates. This is compounded by ongoing geopolitical issues (Russia’s unprovoked invasion of Ukraine) and the still present Coronavirus (COVID-19) and subvariants raging …
Per Trump’s order (see below) to suspend employee payroll taxes for 2020 and defer them to 2021, many eligible workers will enjoy a temporary boost to their paychecks in 2020. See this article for more details on how this is implemented per IRS guideline. The employee payroll tax break is equivalent …
(This is a live article that is updated regularly) As the Coronavirus impact widens we are already seeing major hits to the real economy that will take the US into a recession in 2020 and into 2021. While stock markets are falling rapidly (don’t panic and sell!) people should start …
The title of this article sums up a theme from irate tax payers who complain that people should be annoyed when they receive a tax refund, not happy! The premise behind this is that a refund is basically the IRS giving you back your money that you “loaned” the IRS …
5 reasons your tax refund will be delayed
While many people will tell you money isn’t everything, it’s hard to deny that having a bit of it can make life easier and provide peace of mind. With that being said, many of us still find it difficult to motivate ourselves to save. Inspiration is often lost in the …
I wrote this article (see update below) over 10 years ago on the best jobs for the next decade. It was based on the US BLS data and ended up being pretty accurate. So with the current unemployment situation I thought I would refresh this article based on what is …
Debt is as American as apple pie. It is estimated that 80% of Americans live with debt and that includes $8 trillion in home mortgage debt. Many of us go to work every day simply to pay for products or services that we’ve already received. We can’t help our children …
As the IRS notes, for nine out of ten tax filers it takes a maximum of 21 days to receive a tax refund (when eligible) after their tax return has been accepted. But this is still just an estimate based on past IRS refund schedules and not a guarantee. Further …
With tax season in full swing the main source of frustration for most Americans filing taxes in 2018-19 is around their tax refund. Namely why it’s taking so long to get paid and subsequently why it is lower than expected There are lots of reasons for this and over the …
Technology and Tax Software were supposed to have made tax filing more efficient and refunds (where applicable) faster. But thanks to the slew of tax changes from Trumps’ tax code reforms and recent IRS employee cutbacks the software developers at the state and federal tax agencies and at tax software …
If you are frustrated with delays in getting your tax refund and the inability to get a straight answer from the IRS, then take some small solace that you are not alone. In fact per the Taxpayer Advocate Services’s Annual Report to Congress this IRS’s Failure to Answer the Right …
As adults, we’ve seen what a lack of financial knowledge does to managing our finances. That’s why we need to teach our kids early on how to care for money, so they are less likely to make the financial mistakes that we did. If you don’t talk about money, lessons …