Why Your State Taxes Might Go Up

state taxes
What goes up must come down – when considering the effects of gravity. That principle doesn’t typically apply to federal or state taxes. In the rare cases where taxes do go down, other taxes tend to go up to compensate government coffers. Because state taxes are often linked to the federal tax code in different ways, changes in the federal tax law have ripple effects that are felt throughout...

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Posted in: Personal Finance

New Tax Laws Should Lower Your Odds of Being Audited

tax audit
The recent Tax Cuts and Jobs Act (TCJA) represents one of the biggest changes to the tax code in many years. Will the Internal Revenue Service be up to the challenge of enforcing these changes? For the last five years, the IRS has been examining fewer and fewer returns. In calendar year 2016, 1.1 million tax returns were audited (0.5 percent of all returns), down from approximately 1.7 million returns...

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Posted in: Personal Finance

5 Facts About Debt In The United States

Image Courtesy of Pixabay Debt is an interesting concept. The concept of borrowing for now and agreeing to pay back a higher amount later due to interest and other fees is a major part of life in the United States. Here are some interesting facts with regard to debt, but first, a special thanks to DebtConsolidation for providing the data about consumer debt in the United States used in this article. ...

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Posted in: Credit and Debt

Only 37% Of Millennials Have Retirement Accounts

millennial retirement
Who’s thinking about retirement when they’re young? Only about a third of millennials have retirement accounts. They’re typically not a priority for young workers – but they should be. That’s precisely the time to take the greatest advantage of compounding interest by contributing as much as your fledgling budget can afford. A new study from the University of Missouri suggests...

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Posted in: Personal Finance
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