For the early planners, the IRS announced updated 2020 income tax rates this week. There are 6 federal income tax brackets for 2020 – 12%, 22%, 24%, 32%, 35%, and 37%. The standard deduction for married couples filing jointly will rise from $24,400 to $24,800 for the tax year 2020. For single taxpayers and married
I heard a report on NPR this morning and it just didn’t sit right with me. With it being tax day – a national holiday worthy of a day off and celebrations everywhere – I thought I would share. According to a report by ProPublica – there is a bill making its rounds around Congress
I’ve got an addiction. An addiction that needs to be dealt with and some support group needs to be formed. Here is my addiction…I love utilizing spreadsheets! I do! I love them so much that I spreadsheet everything in my life. There. I did it. I admitted it. Step #1 on my way to recovery.
Several years ago my wife and I decided to refinance our home (and then a year later, our rental house). One of the main reasons for the refinance was to lower our monthly payment as well as take advantage of the lower interest rates. Another factor was that we didn’t have any short or long-term
Unfortunately, there is no way around doing your taxes. You either need to do ‘em yourself OR get someone knowledgeable enough about tax law to do them. To top it off, you want to make sure they are done right. A couple years ago, I wrote about how the Government Accountability Office (GAO) did a
This blog post was written as part of my collaboration with eBay. All opinions expressed are our own. As 2014 comes to a close our American financial house in disarray with $17.956 trillion debt, and each tax payer owing $153,000 it’s no wonder why people are starting to look at investing in gold! Hit shows like
Americans spend $140 billion per year to comply with the tax code – that’s a lot of money. And, although that figure may be enough to tempt you to look for ways to cut back on tax prep services, H&R Block reports that consumers who prepare their returns themselves leave $1 billion dollars in unrealized tax savings on the
A lot of time and energy is focused on the holidays at the end of the year. But it’s important to set aside some time for your finances as this is the last chance to make adjustments for 2013. As you get ready to ring in the New Year, here are a few financial matters