Losing your job can be psychologically and emotionally draining, as well as can suck the life out of your bank account. Unemployment insurance is typically a few hundred dollars a week, which is a fraction of what you used to make, and equates to a salary considered under the poverty line in the United States. [...]
The marriage tax penalty was set to make a comeback in 2011. Lets take a look at the marriage tax penalty, an often confusing and overused term, to see what it really means and why it’s coming back. Update: Congress passed the tax deal to extend the 2011 tax rates. Included in the tax deal [...]
The 2011 tax calculator is finally here, even though we still don’t know exactly what the 2011 tax brackets will be. The Tax Foundation has a 2011 tax calculator that helps you project your 2011 income taxes based on all the options Congress is considering. 2011 Tax Calculator The 2011 tax calculator has 4 scenarios [...]
0% Capital Gains Tax Rate Really Exists
Posted byWhen I said that the current capital gains tax rate is 0% for some taxpayers, a reader, Colin, was shocked. He states: I had no idea long term capital gains are presently 0%. Are you sure? Yes, Colin, I’m sure! Let’s take a closer look at capital gains and the capital gains tax rates. Capital [...]
How to Take Charge of the Bush Tax Cuts
Posted byWhen the Bush Tax Cuts Expire in 2010, we’re bracing for higher 2011 Tax Rates. In addition, many of the tax cuts that we’ve come to expect over the last decade are changing. I love to plan, so here’s what I’m currently working on: 2010 Planning Moves for Expiration of Bush Tax Cuts Tax Rates. [...]