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2012 Federal Income Tax Brackets and Marginal Rates

by Flexo

The IRS has finalized the 2012 federal income tax brackets, but most people aren’t concerned with these numbers until next year. In April 2012, you’ll need to be concerned with the 2011 tax brackets to file your 2011 income tax returns. Most taxpayers won’t need to deal with the 2012 rates until early 2013. While ... Continue reading this article…

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Do Millionaires Pay Less Tax Than Their Secretaries?

by Flexo

Warren Buffett has frequently claimed that he pays less tax as a percentage of his income that his secretary. President Obama has jumped on this as a basis for the Buffett Rule, a new proposed tax code that ensures that millionaires pay their fair share of income tax. According to Buffett, his effective tax rate ... Continue reading this article…

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The Buffett Rule: Tax for Millionaires

by Flexo
Warren Buffett

As a continuation of President Obama’s jobs proposal (economic stimulus) for curbing spending and increasing federal government revenue, the administration is taking a cue from famous investor, Warren Buffett. On many occasions, Buffett has claimed that wealthy Americans do not pay a fair share of the tax burden relative to their means to do so. ... Continue reading this article…

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Smithee Update: Six Months in San Diego

by Smithee

This article is by Consumerism Commentary staff writer Smithee, who is juggling about a dozen clients and creative projects as a freelancer. It’s been a year since I was laid off and decided to become a full-time freelancer, and it’s been six months since my wife and I made a risky decision to move the ... Continue reading this article…

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Involving Children in Household Money Management

by Flexo
http://farm6.static.flickr.com/5259/5437895492_b0e84aaf2b_b.jpg

At the right age, involving children in the household financial planning process can be a good way to teach responsible money management. Children internalize best practices when they not only receive meaningful instruction, but have visible, positive role models as parents. If parents want to impart a lesson of “buy only what you can afford,” ... Continue reading this article…

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Should You Stop Saving and Investing When Paying Off Debt?

by Flexo

The concept of multitasking, for a person, is a myth. When someone says they are multitasking, they are quick task shifting. We can move our attention quickly from one task to the next, and shift back again, but it’s practically impossible to focus on two different things at the same time. To excel at anything ... Continue reading this article…

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The Debt Snowball

by Flexo
Debt Snowball

The “Debt Snowball” is one of the most popular methods for approaching a variety of debts, with the intention of paying them off. The process has existed for as long as debt has been around, but the method has been commoditized, packaged, and popularized by a variety of personal finance experts, gurus, and speakers. Dave ... Continue reading this article…

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Setting Money Ground Rules With Your Partner

by Flexo
Couple

Do you lie to your spouse or significant other about money? Money may be one of the most popular issues causing strife in a relationship, but deeper issues are usually communication and values. Lying about money is one way to ensure that a relationship will fail over time, but for most people, small, occasional lies ... Continue reading this article…

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