Income Tax 101: What’s Taxable?

Most people are familiar with income tax because each year they are required to file a tax return. But that’s only a sliver of what they actually pay. Some taxes are automatically deducted from your paychecks or when you buy something from the store, while others only apply under special circumstances. Plus, you might not  Read more ➝

Reminder: Contributing to Your IRA by April 15 Could Lower Your 2018 Tax Bill

Would you like to potentially lower your tax bill? Contribute to your IRA by April 15th for a potentially lower tax bill before you file your tax return. The contribution limit for IRAs (both traditional and Roth) for 2018 is $5,500 for any working individual under the age of 50. Those over the age of  Read more ➝

Not All Investment Income Is Created Equal Because of Taxes: Case Studies

Earlier, we discussed how the 3 types of investment income can have a big impact on your taxes. Your knowledge or ignorance of these issues can have a major effect on your standard of living.  How? Let us take a look. Why the real income you make comes after taxes come out Taxes are a  Read more ➝