Tag Archives: Federal Tax

Median income, a false statement perhaps

I think that the statement that one is above or below the median income, can be a very deceiving way to view things. It is one measure – no doubt a good comparison like the traditional thought of tax paid … Continue reading

Posted in budget, economics, Income Tax | Tagged , , | 1 Comment

Pay less taxes than you put into an IRA

Let’s see how a person could pay less taxes than they put away into an IRA (or 401k). We will use a simple scenario of a single person with a gross income (including interest earned) of $29,500 or less. You … Continue reading

Posted in 401k, Financial Arsenal, financial directive, Income Tax, IRA, thrift savings plan, tsp | Tagged , , , , , , , | 1 Comment

Tax year 2014 tax limit guidelines

There are always limits that the IRS places on various items in your financial arsenal, and this post is meant to be a brief summary of the 2014 tax limit guidelines. The list below is only meant to be brief … Continue reading

Posted in 401k, Financial Arsenal, Income or Pay, Income Tax, IRA, Roth IRA, Social Security, Tax guidelines | Tagged , , , , , , , , | 1 Comment

Tax season quickly approaches, have you checked your situation out

Now that we’re winding down the year, it’s getting closer to tax season. So in honor of that upcoming event, I thought I’d write an article regarding your W-4 and whether you may want to adjust it accordingly. That is … Continue reading

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Fill out your W4 Withholding Allowance Certificate

Can you claim more allowances when you fill out your W4 Withholding paperwork than you do on April 15th? The answer is yes. Can that result in an increase in the money you get back during the year? Again the … Continue reading

Posted in financial directive, Income or Pay, Income Tax, Retirement Savings, spending plan | Tagged , , , , , | 3 Comments

Choosing a Roth IRA or 401k for investment purposes Part 2

This is part 2 of a two-part series for choosing a Roth IRA or 401k for investment purposes. Part 1 is available here. This part uses math to reason out why we would want to choose a Roth as the … Continue reading

Posted in 401k, financial directive, Income or Pay, Income Tax, IRA, Retirement Savings, Roth IRA, Social Security | Tagged , , , , , , | 11 Comments

Early 2012 tax filing checkup

Does anybody else do this? I know that I usually start roughly a month before the end of the year so that I can adjust it a little to make sure that I owe nothing because I keep my W-4 … Continue reading

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Economic predictions for 2013

Since this is a PF (Personal Finance) type blog, I thought I’d make my own 2013 predictions. I started this blog toward the end of 2012 and it seemed rather silly to bother making predictions since most of the year … Continue reading

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Work overtime if possible, and is it worth it to max 401k

As I was examining my most recent paycheck, I noticed a peculiar thing. I currently have 10% of my pay taken out pre-tax for my 401k at work. I am lucky enough to get a dollar for dollar match up … Continue reading

Posted in 401k, budget, budgeting, Income Tax, Retirement Savings | Tagged , , , , , , | 4 Comments

Budget and spending for a nation

Well, the White House has released it’s estimated budget here. I’d like to take note on a couple of things on page 6 (S-4 Table): Social security spending – $773B, is higher than defense spending – $709B Defense and non-Defense … Continue reading

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