Understanding the Pros & Cons of I Bonds
I bonds are U.S. savings bonds designed to protect the value of your cash from inflation. But before deciding to rush out and buy I bonds, make sure you understand the pros and cons first.
Inflation is Not a Hidden Tax – It’s a Very Real Tax
We’ve all heard the saying that inflation is a hidden tax. But depending on which state you live in, it should simply be called a tax – because that’s what it is.
IRS Makes Contribution Limit Changes for 2022
The Internal Revenue Service announced that the amount individuals can contribute to their 401(k) plans in 2022 has increased to $20,500, up from $19,500 for 2021 and 2020.
Contribute to an IRA Before the May 17th Deadline
Taxpayers of all ages may be able to claim a deduction on their 2020 tax return for contributions made to their Individual Retirement Account made through May 17, 2021.
Your Second Stimulus Check is in the Mail
On December 29th, the Internal Revenue Service and the Treasury Department announced that the second round of payments was on the way. For those who qualify, the payments are automatic and will be received either by direct deposit or paper checks.
The New IRS Tax Rates and Deductions for 2021
Amidst all the pandemic news and 2020 election drama, many might have missed that the IRS also quietly published new 2021 tax rates in late October and a there are plenty of changes that will impact taxpayers in 2021.