I used to enjoy doing our taxes. I know, I’m a dork, but I genuinely liked sitting down at the end of the year to see how everything shook out for the previous 12 months. We didn’t have anything too extravagant going on so it was fairly straightforward. That all changed once my wife and … Read more
When I was sixteen, I got a part-time job as a cashier at Target to pay for my car insurance and gas. I was lucky enough to have been given an old 1987 Plymouth Horizon by my parents, but if I wanted to drive it, I had to cover the costs. That year, I earned … Read more
Today reader Jeremy asked a tax question about IRAs and tax refunds. When you make Traditional IRA contributions, you can deduct that amount from your income and pay less in taxes. Jeremy asked if you can use your refund to make an IRA contribution, file an amended tax return, and get a second refund.
Like it or not, tax time is upon us as taxes are due a little more than a month from now. Many dream of getting that large income tax refund and going out to blow it on something nice they’d not normally be able to afford, but there generally isn’t much wisdom behind that. I’m assuming that … Read more
As we move through the holiday season, many people take a few minutes to stop thinking about themselves and start thinking about giving money to their community. I grew up a big advocate of giving my time rather than my money. As my career has moved forward, I am now more easily able to give money. Deciding how much to give, and where, is an important decision for your personal finances.
Tax season is coming up quick, and I was recently asked about the implications of the timing of selling a stock. The rules are fairly straight forward, but there are a few tax issues to think about.
