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In life we’re told that there are two things that are unavoidable, death & taxes but I disagree. Now you can’t avoid death but you can stop paying taxes, you’ll most likely end up in jail. For the rest of … Continued

The US government pays out Social Security benefits via payroll income tax. It’s lack of ability to manage money efficiently has left the Social Security trust fund in a downward spiral. With the baby boomer generation aging in, much more … Continued

The coronavirus could cost the economy nearly $8 trillion, according to the Congressional Budget Office. It is said that there is a price to be paid for pretty much everything. What will the cost be of COVID-19 in the coming … Continued

The 2020 CARES Act provides rebates to most U.S. taxpayers, putting cash in the hands of individuals and families to help ease the economic impact of COVID-19. Eligibility: Individuals who meet the following criteria are eligible for a full $1,200 … Continued

How much do I really pay? A common misconception regarding taxes is the total amount owed based on the highest marginal tax bracket. For example, some people believe that if their income reaches the 37% marginal tax bracket, they will … Continued

The highest marginal federal tax rate in history was 94% in 1944. Today it is 37%. Before you put money into a 401(k), SEP or traditional IRA, make sure you understand that you’re deferring the taxes and you’ll have to … Continued

Many people use IRAs to save money for retirement. Unfortunately, a lot of people don’t completely understand how taxes are levied on IRAs. It’s important to choose the type of IRA that coincides with the level of taxes you believe … Continued

  As we near the end of the year, Congress must pass a budget to prevent a government shutdown. Just like other bills that Congress pass, this one includes changes to existing laws. This bill includes a piece of legislation that … Continued