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Taxes

Will a Bonus Make You Pay Higher Federal Taxes?

by Luke Landes

With the holidays approaching, many companies are preparing their bonus checks. However, some employees who are looking forward to their bonuses are also concerned about tax consequences. I gave up this “extra” part of my corporate pay, in exchange for the benefit of working for myself, when I left my day job a few years […]

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401(k) Contribution Limits for 2017

by Luke Landes

The 401(k) contribution limits and maximums are increasing in 2015, and there are other tax changes to 401(k) to note.

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2017 Federal Income Tax Brackets and Marginal Rates

by Stephanie Colestock

As tax year 2016 comes to a close, your focus is probably on filing that tax return after the new year (remember that your deadline is April 17, 2017). The IRS may end up confusing some people, though, as they just released the tax brackets, deduction limits, and marginal rates for tax year 2017. Keep […]

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2016 Federal Income Tax Brackets and Marginal Rates

by Stephanie Colestock

Can you believe we’re already in September? The year has flown by, and IRS Tax Year 2016 will soon be coming to a close. While your filing deadline isn’t until April 17, 2017 (the 15th will fall on a Saturday), now is the perfect time to begin thinking about your taxes, maxing out your retirement […]

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2017 IRS Standard Deductions and Exemptions

by Luke Landes

Most taxpayers can choose between itemizing tax deductions to reduce taxable income, which requires accurate record-keeping and support and taking the standard deduction. The standard tax deduction is a fixed amount that reduces the amount of money on which year-end taxes are calculated. Generally, if you can show that you’ve had more deductible expenses than […]

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2015 Federal Income Tax Brackets and Marginal Rates

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Tax Day 2016 for IRS Tax Year 2015, also known as your return filing deadline, is April 18. If you haven’t yet filed, here are the IRS tax rates for your 2015 earnings with background and commentary. These change from year to year to protect against something the Tax Foundation calls “bracket creep” or when […]

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Financial Upgrades You Need After Becoming Parents

by Robert DiGiacomo

New baby? No doubt this new arrival has turned every aspect of your life upside down in the best possible way. Now is the time to make sure your financial house is in order. Here’s a 10-step account and financial checklist to lay the groundwork for your little one’s successful future. New account checklist for […]

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The IRS Tax Scam and What Happens When You Owe Taxes

by Luke Landes

For a few years, a ring of criminals believed by the U.S. government to be based in India have been involved in a pervasive tax scam. Callers impersonate IRS officials, connect with American taxpayers, and convince many that they have an outstanding bill for tax payments. The scam has been so pervasive that it has […]

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2014 Federal Income Tax Brackets and Marginal Rates

by Luke Landes

Anyone who likes getting a look at their future tax expenses might be interested in seeing what next year’s tax brackets and tax rates will be. The IRS has now announced the official rates and brackets for 2014, although the numbers have been predicted for months because the IRS uses a simple process of inflation […]

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5 Responsible Uses for Your Tax Refund

by Luke Landes

For most citizens of the United States, tax season is over. There’s no longer a need to run around gathering documents. You’ll stop seeing television commercials for TurboTax and H&R Block in which each insinuates the other is a deficient company. You can stop thinking about government’s wasteful spending and income redistribution — which always […]

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