Category: Taxes and Retirement

A lot of families cannot afford to pay for professional help to get advice on taxes and/or to prepare their tax returns. While simple returns for low income earners can be filed for free with most large online e-File tax providers, those who have complicated financial situations or have moved states…

Most of the refund attention every season goes to the federal IRS refund, but over 40 states also collect income tax — and every one runs its own processing schedule, its own refund tracker, and its own delays. State refunds routinely take 2 to 12 weeks, often landing after your…

I have received variations on this question over the last few years and when I saw this article in the WSJ I had the answer to my question.  The national average fee for 2014 returns will be $273, according to a survey by the National Society of Accountants. This fee is…

The Saver's Credit gives lower- and moderate-income workers a direct tax credit — not just a deduction — for contributing to a retirement account. For 2026, the income limits increased across all filing statuses, so more people now qualify than in prior years. The IRS confirmed these thresholds in Notice…

Millions of Americans contribute to an employer sponsored 401K or traditional IRA (Individual Retirement Account). And over the last few years the government has steadily been increasing the maximum contribution people can make to ensure that folks can build a larger nest egg during retirement. But thanks for the low inflation environment…

Given the low inflation environment over the last year, the 2015 IRS Tax Brackets, standard deductions and personal exemptions have only seen a moderate increase over 2014 levels. Federal income tax brackets and related tax items, under the tax code, provide for mandatory annual adjustments based on inflation. This is to prevent…

The average federal tax refund as of March 6, 2026 was $3,676 — up 10.6% from $3,324 at the same point in 2025. By early April the average settled to $3,462, still up 11.1% year-over-year. The IRS has paid out $241.7 billion in refunds through early April, compared to $211.1…

If you're lucky enough to have a traditional pension — and fewer than one in five private-sector workers are these days — you'll eventually face one of the bigger money decisions of your life: take it as a monthly annuity for as long as you live, or take a lump…

See this article for the latest IRS updates to federal tax brackets and standard deductions. ____________ Below are the 2014 IRS federal tax brackets based on annual inflation adjustments. Given the low inflation environment there were only moderate increases in tax brackets, standard deductions and to the personal exemption. The main changes…

See this updated article for the latest 401(k) and IRA Contribution, Eligibility, Income and Tax Deduction Limits The IRS has released updated 2014 limits for defined contribution (or pension) plans such as 401(k) and IRAs. This was delayed from the usual mid-October release due to the government shutdown. The annual limits…

April 15th 2014, or the 2013 tax filing due date, is not that far away. Which means its time to do some serious tax planning so that by year end you maximize your income while minimizing your taxes dues when filing in 2014.  But first, the official rates and tables…

I get asked about this deduction every tax season, usually from someone who just had a rough year medically and wants to know if any of it comes back at tax time. The honest answer: sometimes, but the bar is higher than most people assume. The rule itself is simple.…

The Congressional Budget Office (CBO) has published an interesting report titled, The Distribution of Major Tax Expenditures in the Individual Income Tax System, that shows how 10 of the largest tax breaks, credits and deductions are distributed across household with different income levels. These tax breaks (or tax expenditures as…