Want to save for retirement as a self-employed worker, and get similar tax benefits as employees with retirement plans? The simplified employee pension individual retirement account — or SEP IRA as less of a mouthful — helps you do just…
In today’s world, people can pay you in many ways, from old school methods like cash and checks to electronic methods like direct deposit, peer-to-peer transfer, or even cryptocurrency. Direct deposit has emerged as the payment method of choice among…
When you set out on your own to start your own business or gig, you give up structure and job benefits in favor of freedom and flexibility. And it’s no different with your retirement plans. People who own their own…
Congress raised contribution limits for some retirement accounts but not others from 2021 to 2022. Despite rampant pandemic inflation, Congress didn’t raise contributions for the easiest retirement account, the IRA. Still, taxpayers scored a few modest wins for other account…
There’s no one-size-fits-all financial advice because everyone’s financial priorities are different. And even when two people share similar financial goals, they can take several routes to reach the same destination. So how do you determine your financial priorities? How do…
Looking to score a stellar deal on your next home? Foreclosure properties sometimes make great bargains — emphasis on “sometimes.” They can also come with hidden pitfalls and red tape in having to work with bureaucratic bank sellers. Make sure…
As a parent, you instinctively put your children first. While that impulse serves our species well in moments of physical danger, it doesn’t help your long-term financial planning. Quite the opposite, as it turns out. Diverting money from your retirement…
Ever wonder how long it will take your investment to double? Perhaps you’ve heard financial experts talk about invested wealth growing astronomically over time, seemingly by magic. Where do these assumptions come from? Whether you’re saving for an emergency fund,…
When you lend money to people you love, you put those relationships in jeopardy. But it’s hard to say no to someone who’s asking for your help out of a bind. This is tricky terrain to navigate, financially and personally….
A 2019 report by the Tax Foundation found that the average U.S. wage earner pays 29.6% of their income in taxes, amounting to $17,597 per year. That does not include local or state income taxes, sales taxes, property taxes, excise taxes,…
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