Last year around this time we were in the midst of a debate in Washington D.C. about whether or not our legislators would be extending the Bush era tax rates. The Bush tax cuts lowered rates for everyone who pay taxes. The concern for a lot of politicians was that if they didn’t extend the […]
Is A Decline In The Unemployment Rate All Due To People Finding Jobs? What Is The Real Unemployment Rate?
The unemployment rate dropped this past month from 9% to 8.6%. The numbers could be deceiving, however. What is the real unemployment rate?
Social Security Cost Of Living Adjustment (COLA) For 2012: First Benefits Increase Since 2009
The past couple of years I’ve heard from quite a few folks who are living on social security and were upset to find out that they wouldn’t be getting cost of living adjustments to their Social Security checks. For the 2010 and 2011 tax years there was no increase in the amount that people on […]
2012 Federal Income Tax Brackets: IRS Marginal Tax Rates
The 2012 tax rate tables are projected to remain essentially unchanged.A few rate income ranges and standard deductions will change slightly.
One Million Dollars: How Much Will It Buy In Thirty Years?
I don’t have a million dollars just yet; in fact, I’m far from it! If I’m diligent with my savings, my retirement account will reach the big M, but what does that really mean in 30 years? The number itself doesn’t mean anything – the purchasing power of those dollars is what counts. I know […]
What Effect Will The News Of Osama Bin Laden’s Death Have On The Markets?
This evening we heard news that Osama Bin Laden had been killed near Islamabad, Pakistan. What effect will the news have on our markets?
How Much Control Should The Government Have?
In his book, The Wealth of Nations, Adam Smith outlines the role of government in three distinct areas: military force, justice, and provision of public goods.
Taxes Are Going Up. Why Are Some People Seeing A Federal Income Tax Increase In 2011?
A few months ago I published what I thought the 2011 Federal Income Tax brackets might look like. At the time I thought that taxes may be going up because congress was having a hard time passing a tax package of any kind. Others were projecting that the rates were going to go up as […]
$1000 Child Tax Credit Extended Through 2011-2012
Yesterday we talked about how the energy efficient home improvement tax credit was extended into 2011, albeit at a lower reduced maximum of a $500 max credit per homeowner, at at a reduced amount for many eligible products. While the credit is still around, the effect it will have at this reduced amount is anyone’s […]
Obama Set To Sign Tax Cut Bill After The House Passes It. Bush Era Tax Rates To Be Extended
We’ve talked quite a bit about the Bush tax cuts and how they are expiring at the end of 2010. If something wasn’t done about the expiring rates ALL taxpayers would have been seeing an increase in their taxes in 2011. An average family would have ended up paying thousands more in taxes. Tax Cut […]
Deal Reached Between President Obama And GOP On Extension Of Bush Tax Cuts
Over the past year or so we’ve been talking on this site quite a bit about the 2001 and 2003 Bush tax cuts, and whether or not they would be renewed in some form before they expire on December 31st. We looked at what would happen to the tax rates if they weren’t renewed, and […]
President Obama Appoints Geithner and Lew To Negotiate A Resolution To Bush Tax Cuts
As the end of the year comes ever closer, and Congress gets ready to adjourn for the year, there has still been no action on the expiring 2001 and 2003 bush tax cuts. If the tax cuts were to expire on December 31st, we would see tax increases for everyone who pays taxes. Neither the […]
Decision On Extension Of The Bush Tax Cuts Pushed Off Until The Last Minute
I‘ve written several times on this site about the expiration of the 2001 and 2003 Bush tax cuts, and how if they aren’t renewed for all taxpayers before the end of the year, we could be seeing an increase in tax rates for everyone across the board. While both parties have been making overtures about […]
What Money Issues Does Our Lame Duck Congress Need To Address?
Now that election day has come and gone, and because there will be some drastic changes in the makeup of the congress, we’re in a sort of limbo – the lame duck congress. Despite the fact that many of these politicians won’t be returning, there are still a ton of things that really need to […]
