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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
Sixty-year-old Toby Phillips (not his real name) started his business a few decades ago out of his garage in Southern California. What initially began as a hobby, turned into a way to make a few extra dollars on the weekends. … 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
Save on Interest or Save More Money Typically, we’re shown how much money we’ll save in interest on a 15 vs 30-year mortgage option. Unfortunately, most people aren’t taught how much money they will lose by paying off a mortgage … Continued
Another Prediction Realized It was a cold Winter day in 2010 when I walked the icy streets of Washington D.C. from my hotel to our Nation’s Capitol. I was there to learn about and discuss the ‘Affordable Care Act’ legislation with … Continued
Think Twice About CPA Advice for Tax Strategies Did you know that the IRS tax code is estimated to contain over 80,000 pages? Most CPA’s and tax advisors become experts in the specific areas of tax law that are most … Continued
Here is this week’s updates on the families staying in the SHfC apartments. Esther Park (18yrs): Esther and mom both had colds this week. Mom is feeling better, Esther is still tired. The MRI showed there is still activity, which … Continued