Marginal vs Effective Tax Rates–What You Need to Know

Investing Taxes

Several readers have recently emailed me about Roth retirement accounts. The questions that have arisen include the difference between marginal tax rates and effective tax rates. It’s an important topic that we’ll cover in two articles. In this article we’ll walk through the difference between marginal and effective tax rates. In the next article we’ll […]

Published or Updated: May 24, 2014

5 Tax Moves to Make Now (Yes, After Tax Day)

5 Tax Moves After April 15

With April 15th behind us, taxes are probably the last thing on your mind. They shouldn’t be. If you only think about taxes at the beginning of April, you’re missing out. Making the right tax moves now – even after tax day – will help improve your tax situation next year. At a minimum, planning […]

Published or Updated: April 22, 2014

9 Tax Changes in 2014 You Don’t Want to Miss

2014 Tax Changes for Individuals

Every year, the IRS updates tax codes to reflect changes in the cost of living. Recently, the IRS announced tax law changes for 2014. Many of these relatively minor changes could affect you in the coming tax year. Remember, these 2014 tax changes affect the tax year 2014, so you won’t see these changes reflected […]

Published or Updated: March 17, 2014

2 Education Related Tax Changes You Don’t Want to Miss in 2014

Education related tax changes 2014

Each year when the IRS releases tax law changes, everything from the basic tax brackets to retirement account limits change. And these changes affect many credits and deductions, including education-related tax credits, such as the Hope Scholarship and American Opportunity Tax Credit. In 2014, some of these credits are going up, so you can claim […]

Published or Updated: March 6, 2014

6 Tax Changes for Parents in 2014; I’ll be Using No. 3 to Save a Bundle

Taxes

Every year, the IRS updates tax laws to account for inflation, and this year is no different. In 2014, parents, in particular, will find several tax-related changes that may affect their credits and deductions on their 2014 taxes. Remember, changes to tax law for 2014 won’t affect you until you file your 2014 taxes in […]

Published or Updated: February 18, 2014

The Only Guide to Self-Employed Retirement Options You’ll Ever Need

Borrow from Retirement

As a self-employed individual or freelancer, you’re in a unique position when it comes to saving for retirement. You won’t get the benefit of an employer-matching 401(k), not if self-employment is your full-time gig, but you do have access to a variety of tax-advantaged retirement accounts. And you may be able to sock away more into […]

Published or Updated: April 1, 2014

A Review of TurboTax Home and Business

TurboTax Refund Guarantee

As a freelancer, taxes are more complicated for me than your average Joe. But as a writer – with very few business expenses – my taxes aren’t complicated enough that I feel the need to hire a tax preparer. Instead, I just use TurboTax Home and Business. Other than my first year of freelancing, when […]

Published or Updated: February 2, 2014

IRS Announces New Retirement Contribution and Income Limits for 2014

Exchange Rates

Each year, the IRS makes cost-of-living adjustments to all things tax-related. These adjustments affect everything from income tax brackets to retirement savings limits to tax deductions and credits. One of the most important cost-of-living adjustments is contribution and income limits for tax-advantaged retirement accounts, such as 401(k)s, IRAs and 403(b) plans. Cost-of-living adjustments are based […]

Published or Updated: December 23, 2013

5 Tax Deductions You Don’t Want to Miss for the End of the Year

Taxes

Now that the year is almost over, it’s the perfect time to boost your tax efficiency with a few tax deductions. The good news is that there is still time to reduce your tax liability for this year — as long as you act fast. Here are 5 tax deductions you don’t want to miss […]

Published or Updated: December 18, 2013