First, there is denial. Then relief, and then possibly a nice refund after it's all said and done. We're talking about tax season, and it has arrived. It's also a good time to take care of other financial business, like maxing out an IRA or rolling over an old 401(k).
After deciding when and how to retire, deciding where to retire is the next step. Careful consideration of possible activities, weather, taxes, cost of living and proximity to family and friends is undertaken.
So elected government officials (or unelected bureaucrats), tend to look at our money (and spend it) differently than we might look at it or decide to spend it ourselves.
With real estate prices skyrocketing in Silicon Valley, some of my friends are deciding to cash in on their homes, grab the extra bucks and take a hike out of town or out of state and live the good life somewhere else with lots of money to spare.
Successful companies like Apple need to make fundamental changes to the way they allocate resources and stop throwing away America's most valuable asset for future innovation -- you.
Until we decide what we want government to do, "tax reform" will merely shift the tax burden from those who can afford expensive lobbyists to those who can't. One result will be a more complex and inefficient tax code that cannot be administered by the IRS because of deliberate cuts to its budget.
The Affordable Care Act (also known as the ACA) was signed into effect in 2010, but 2014 marked the first year most Americans were required to have health insurance. As the year comes to a close, what does this mean for you?
With less than a month left in the year, you can easily get a rough idea of how much you will owe in taxes for the 2014 tax year. If your anticipated tax bill is giving you sticker shock, there are a number of investment moves you can take between now and the end of the year to help reduce your tax liability for the 2014 tax year.
This would greatly simplify not just the process of tax collection and greatly lower its cost, but more importantly, would be based on principles of fairness with due respect for what generates new wealth.
I can't accept that the major problem with our corporate tax code is that corporations need more help. I can't accept that the owners are taking home more and more while the workers take home less and less, even as they grow ever more productive on the job.
By having all your documents in one place, you are one step closer to filing your return. Remember my first rule of tax return time? The earlier you file, the sooner you will get your refund!
Do you deny yourself even small treats to try and balance your unsustainable budget, which is often supplemented from a credit card or by siphoning off home equity? Did you know that all of these are signs of being chronically indebted?
There's a different kind of sale you might want to check out before year end. It's one of the best kind of holiday sales. One where you can trim your tax bill before April 15!
Whether their actions are based on something as simple as political DNA or a plot to retaliate against the president by taking hostages and wiping out villages, Congress, led by the GOP, is working hard to hurt the very people who elected them and helping the ones who got them elected.
With the Chicago City Council's Dec. 2 approval of a $13 minimum wage and the Illinois General Assembly still debating what to do with the state minimum wage, opinions from all sides abound. Some support a higher state uniform minimum wage, some want it even higher in Chicago, some don't want it to go up at all.
The holidays can inspire people to adopt a generous mood. You're thankful for the blessings you've received and want to pay it forward -- and you've also realized charitable giving can lower your taxes, as well.