If you live in California, Connecticut, New Jersey, New York, or Pennsylvania, you may see a tax increase. There are new limitations on deducting non-federal taxes. So if you live in a high tax state, you may find yourself paying more to the federal government. Click Here to Create You...
Student loan debt:Student loan debt counts towards your debt-to-income ratio for both private and federal loans. The amount you owe and the monthly payments required are included in the calculation. If you have a deferment or income-driven payment plan, the lender may use the standard payment...
When you use the margin account to purchase securities, you're buying an amount of stock by putting up a fraction of that amount. The reason margin accounts (and only margin accounts) can be used to short sell stocks has to do withRegulation T—a rule instituted by theFederal Reserve Boar...
These days, Slott jokingly calls himself a reformed accountant, because he's completely changed his approach to his clients' tax burden. "I call it my key 'always' rule: Always pay taxes at the lowest rates," he says. "Always keep more money." Because tax rates are currently s...
Even though the U.S. budget deficit has been rising, the risk of the U.S. defaulting on its debt practically remains nil (unless a political decision to do so is made). Effectively, the U.S. may not need China to continuously purchase its debt; rather China needs the U.S. more, ...
I believe the answer to what you can do to avoid / reduce taxes on RMDs is… nothing. Nada. Once your IRA gets big enough the knobs we can tweak just don’t have a big impact, like trying to turn around the Titanic manually with an oar. Sure, we can do big Roth conversions… fo...
Not paying that charge in full when the bill is due means they could end up owing upwards of 22%2 more than their original emergency expense—based on average credit card interest rates—putting them even further behind financially. In other words, the stress of not being able to pay your...
Employees opened up the need for a more formal payroll system. And with that, a system for payroll taxes as well. Matt:I know how to bake bread. That’s literally it. I have no other job skills. I know how to bake bread. That’s what I do. There’s no backup plan. This is ...
The city struggled to expand the subways, finally turning things over to the new Transit Authority in 1953. The TA was able to float bonds to pay for new projects, the largest being the conversion of the LIRR Rockaway Branch into the Rockaway Line (A train). When the Federal Government pa...
For the Europeans, it has gone the other way, owing to their financial crisis. European motorists pay very high gas taxes, but as the euro has declined, European gas prices have escalated even faster than in America. When oil cost $142 at the peak, that translated to €99. They’re pa...