Category: Taxes and Retirement

Your gross income, your adjusted gross income (AGI), and your modified adjusted gross income (MAGI) are three different numbers — and mixing them up is one of the most common ways people miscalculate their own eligibility for a Roth IRA, an IRA deduction, or an ACA health insurance subsidy. Gross…

The IRS officially raised retirement plan contribution limits for 2026 in IRS Notice IR-2025-111, announced in November 2025. Most of the increases are driven by COLA adjustments under SECURE 2.0. Here's the full rundown of what changed and what it means for your retirement savings this year. 2026 401(k), 403(b),…

Living abroad doesn't get you out of filing a US tax return. As a US citizen or resident alien, you're required to report your worldwide income every year, no matter where you earned it or whether you already paid tax on it somewhere else. The good news is the IRS…

Two major SECURE 2.0 changes took effect in 2026 that most people haven't fully absorbed yet. If you're between 60 and 63, your 401k catch-up limit jumped to $11,250 — significantly more than the $8,000 available to other workers over 50. And if you earned more than $150,000 last year,…

One of the biggest hassles when changing jobs used to be around what to do with your old 401(k). It sat wherever you left it until you got around to dealing with it — or, if the balance was small enough, your former employer quietly cashed it out and mailed…

Your filing status is decided by one date: December 31. Whatever your marital and household situation looks like on that day determines which of the five IRS filing statuses you can use for the entire year, even if your situation changed on December 30. That single rule trips up more…

The SIMPLE IRA (Savings Incentive Match Plan for Employees) is one of the most practical retirement plan options for small businesses. For 2026, the contribution limit rises to $17,000, and the catch-up provisions got a meaningful boost under SECURE 2.0. These 2026 figures are confirmed in IRS Notice IR-2025-111. 2026…

The IRS set the 2026 employee 401(k) contribution limit at $24,500 — up $1,000 from $23,500 in 2025. If you're 50 or older, you can add another $8,000 in catch-up contributions for a total of $32,500. And if you're between 60 and 63, a SECURE 2.0 super catch-up provision lets…

Eligible K-12 teachers and school staff can deduct up to $350 in unreimbursed classroom expenses on their 2026 tax return, up from $300 in 2025. It's a small bump, but it's not the real news this year. The bigger change is that the One Big Beautiful Bill (OBBB), passed in…

Most people fill out a Form W-4 once, when they start a job, and never touch it again. That's a mistake, because a long list of ordinary life events — marriage, a new baby, a side gig, a big itemized deduction — quietly changes how much tax you actually owe…

If you're self-employed or running a small business, the retirement account options available to you are frankly better than what most corporate employees get — and most people don't fully take advantage of them. I hear from a lot of small business owners who are using a regular Roth or…

The 2026 AMT exemption is $90,100 for single filers and $140,200 for married couples filing jointly — but the bigger story is the phase-out. Under the One Big Beautiful Bill (OBBB), the income levels where the exemption starts disappearing dropped sharply to $500,000 (single) and $1,000,000 (joint), and the exemption…

By midsummer, more than half the tax year is already locked in — but there's still enough runway to fix a withholding problem, catch a missed estimated payment, or take advantage of a credit before December 31 forces your hand. Here's what's worth reviewing right now. Check and Adjust Your…