Tag: 2013

The Department of Labor has provided some timely answers to some frequently asked question around the CARES act. I am an independent contractor. Am I eligible for unemployment benefits under the CARES Act? You may be eligible for unemployment benefits, depending on your personal circumstances and how your state chooses…

After several years the IRS has raised Roth IRA contribution levels, along with the annually indexed income qualification levels that allow eligible contributions. This is good news for those looking for tax effective ways to manage their retirement savings. [See this article for the latest Roth IRA limits] Unlike 401(k) and Traditional…

Being the finance wonk that I am, I rather enjoy reading some of the tax advice that the big accounting firms put out for their clients. While their target audience (based on their $250 to $500 hourly fee) is clearly higher net worth individuals, you can glean some pretty useful…

The Washington Post had two graphics that neatly summarize the impacts from the fiscal cliff. This is the number one topic in the world of finance and almost all Americans will be impacted by the potential fallout in some fashion. My opinion is that Congressional Republicans and the Obama administration will reach some form…

It's that time of the year again. Open enrollment. It's also fall, but as this is a personal finance blog, weather is not the focus. My current employer, a Fortune 500 firm, recently released their employee contribution rates (i.e health insurance premiums) for it's employees and once again rates are…

[Updated for 2022] - See the latest IRA limits and changes in this article. The IRS has published the latest retirement plan limits following the release of Cost of Living Adjustment (COLA) figures for next year.  This was the second consecutive year of increases to contribution limits, as shown in…

See this article for the latest COLA increase - https://savingtoinvest.com/social-security-tax-and-cost-of-living-adjustment-cola The Social Security Administration (SSA) confirmed that the 2013 COLA increase will be 1.7%. This means that nearly 62 million Americans will see their benefit payments increase in January 2013, with the average retiree receiving a $21 increase.  As detailed in the…

See the latest Capital Gains rates and exclusions in this article. _____________ [Updated following Fiscal Cliff Deal] With legislation now in place to avert the fiscal cliff many investors will be breathing a sigh of relief as the tax rates on capital gains, dividends on investments did not rise as…

In a presidential campaign, you hear lots of rhetoric on the how bad the economy is (Republican viewpoint) or how things are much better than in 2008, when we were at the depths of the recession and had a different president (Democrat viewpoint). On a monthly basis, media outlets publish…

The American economy is experiencing a seeming reversal of fortune following significant internal and external headwinds. The stock market, which tends to be a leading indicator of the economy, is back to 2011 levels. GDP and employment figures are also showing signs of slowing down. Some experts, including former President…

[2013 Update] With a deal to avert the fiscal cliff reached and legislated under the American Taxpayer Relief Act (ATRA) of 2012, a couple of significant employer sponsored retirement plan features have reappeared with some modifications. This includes the Roth 401(k) conversion and Charitable IRA contributions. You can read more…

As a part time MBA student, with a single income and young family, I am particularly sensitive to rising education costs. So I was dismayed to see that my university's (already expensive) tuition costs were again rising. This is the third year in a row and my degree will end…

[Updated with 2013 IRS inflation adjusted tax brackets and fiscal cliff changes] Congress and the Obama administration's fiscal cliff deal (ATRA act) means that 2013 federal tax rates will remain fixed for nearly 99% of the population. Only those earning above $450,000/$400,000 (married/single) AGI will have a higher federal marginal tax rate in…