I previously wrote about the upcoming fiscal cliff and highlighted many of the issues that the media was not focusing on that could have a big impact on many Americans should we go over the fiscal cliff. Today, I wanted to go more in depth regarding one area of tax law that could be changing […]
Articles by Don
Tis the Season for Giving to Charity
Posted byThe end of the year is predominately the time of year when charities receive the bulk of their annual donations. Some people give now because it is the holidays and they want to provide for the needy. Others want to get the last minute charitable tax deductions in before the end of the year. And […]
What is The Fiscal Cliff?
Posted byJust about every news story now talks about the fiscal cliff we are headed for. Overall, the fiscal cliff is a combination of the expiring Bush tax cuts, which will raise rates for all taxpayers, along with the start of the taxes we will pay due to the implementation of the Affordable Care Act, commonly […]
Now that the Supreme Court has upheld Obamacare and President Obama won re-election, it is certain that come January 1, 2013, many Americans will face new taxes. The press is focusing on one aspect of the new taxes that will help pay for Obamacare, the 3.8% investment tax. But there are many other changes to […]
How Much is Your Time Worth?
Posted byWhen we think about how much we are worth in terms of dollars, most of us use our jobs as a reference. If you have a job that pays you $50,000 per year and you work 40 hours per week, you are worth roughly $24 per hour. This does not take into account bonuses or […]
How Big Should Your Emergency Fund Be?
Posted byIf you are a fan of Dave Ramsey or other financial gurus, then you know they suggest starting out with $1,000 in an emergency fund while you pay down debt. Once the debt is gone, you are to increase the size of your emergency fund to six months of living expenses. Currently, the average length […]
I see stories in the newspapers and online about why the stock market wants President Obama to get reelected. I also see stories about why the stock market wants Mitt Romney to win the election. Theory tells us that the stock market will perform better when a Republican is sitting in the White House. This […]
As many on the East Coast are dealing with the aftermath of the destruction that Hurricane Sandy left, some who make insurance claims may be in for a big surprise. Many insurance companies have a clause in their policy that increases the policyholder’s insurance deductible when a named storm hits. Photo source: Not So Nice […]
Why You Should Save 1% More Each Year
Posted byIn order to retire with a healthy amount of savings, you are going to have to save close to 15-20% of your income each year. For many of us, this is hard, if not impossible, to do. But there is a solution out there that can help you painlessly reach that level of savings. For […]
What is the Mortgage Interest Deduction?
Posted byThe mortgage interest deduction is beneficial to many homeowners when they are filing their taxes. Even though many take this deduction, most don’t fully understand it. I am going to do my best to keep things simple as I explain the important aspects of the mortgage interest deduction as well as how to claim it […]