Andy | Saving to Invest

2013 Business Tax Changes and Credits in Fiscal Cliff Deal Extend Small Business Jobs Act Tax Changes

[2013 Small Business Tax Breaks Extensions] Congress and the Obama administration have reached an agreement that will extend a number of small business tax breaks through 2013 following the fiscal cliff deal which was legislated through the Taxpayer Relief Act of 2012. This includes: R&D credit extended: The Research and Development (R&D) tax credit was extended for another…

Rental Property Tax Changes (Form 1099) and Foriegn Bank Accounts and Assets Disclosure Requirements

Two new tax changes were implemented in recent legislation that may affect a number of tax payers filing 2010 returns in 2011. One affects landlords who now need to disclose all payments made above $600. The other affects people with certain assets outside the US, who now have to formally…

Overtime Pay and How Much Overtime Employees Can Work

Whether it's due to a tough economy and a scarcity of jobs, the need for extra money or just the company culture, millions of Americans work overtime. In fact, Americans work on average more official overtime hours than workers in any other industrialized country. In just twenty years Americans have…

2017-2018 Estate Tax Changes and Exemption Extension

[Update] - As part of the 2018 Trump tax reform package there is a big push to get the Estate tax fully repealed or raise existing exemption levels. Provisions around this are being debated in Congress and you can get the latest updates in this article. ______ A change to the…

Economic Outlook and How to Invest and Prepare For the Year Ahead

So what will the year ahead look like for the US and global economy? Last year was a year of recovery, but it was sputtering and many questioned whether the recovery was real and if it could be sustained. As we head in to 2011 things are looking brighter following a…

Being Laid Off? Negotiate That Severance Package

Just about anything involving money is a source for negotiation, but many people don’t think about the fact that their severance package is as well. Although we don’t want to think about that day when we may be laid off, it’s important to be prepared to negotiate our compensation package.…

Tax Tips If You Are Looking for a Job – Deducting Moving, Education and Job Search Expenses

With a growing population of unemployed workers the idea of owing money at tax time is downright scary and stressful. Particularly if you unexpectedly lost your job via a layoff or mass firing. However if you are actively looking for a job, there are a number of tax benefits –…

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…

2025 and 2026 Child Tax Credit (CTC) Updates, Qualification and Income Thresholds – Latest News and Trump Big Beautiful Bill updates

The Child Tax Credit (CTC) has seen some key updates enacted as part of the "One Big Beautiful Bill Act." As of the 2025 tax year (filed in 2026) and going forward, the credit is structured to be claimed when filing your tax return, transitioning away from the advance, fully…

2011 Employee 2% Payroll Tax Cut Holiday For Social Security and Medicare. Making Work Pay Credit Not Extended

As part of bush-era tax cuts extension legislation (Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010), a number of new tax breaks were made available. One was a temporary one year cut in employee payroll taxes, which funds Social Security and Medicare, of 2% during 2011. The…

A New Economic Stimulus Package With Obama-Bush Tax Cuts and Unemployment Benefit Extensions

[Update - No New Taxes with Tax Extensions Approved] President Obama has now signed into law a bill that covers a temporary extension of all the bush-era tax cuts. The new bill also contains extensions to some of the 2008 stimulus tax breaks, and even has some new tax cuts. With…

2010 Taxes Filed in 2011 – Key Facts and What To Remember

Tax season is almost here and it's important to think about your tax minimization and management strategies so that you save when filing. I will be publishing more tax related posts over the next few weeks (subscribe), but in the meantime here is a cool Tax Infographic with some interesting…

Bush Tax Cuts Extended As Part of Unemployment Insurance Extension and Payroll Tax Deal

In addition to keeping the current tax rates for all Americans, President Obama announced a compromise plan with the Republican leadership that would extend aid for the long-term unemployed for another 13 months. Other taxes that will be implemented or remain unchanged as part of the compromise include: The payroll…

How to Budget for the Expensive Holiday Season

With another holiday season upon us, it’s not too soon to start planning your gift buying budget. Since last year, the economy has changed, many well-known retailers are no longer in business, and it’s likely that those who still have jobs may not find a holiday bonus in their company…