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- Pay less taxes than you put into an IRA
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Tag Archives: Taxes
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
Your biggest expense should be you!
Your biggest expense should be for your future self for the first 5 years. The younger you are, the easier and better it is for you to take 50%-60% of your paycheck and put it away. Imagine being 19, 20, … Continue reading
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 401k, Federal Tax, financial directive, IRA, Tax, Taxes, thrift savings plan, tsp
1 Comment
To curb retirement tax breaks for the rich or not
Here is a CNN Money article that asks if President Obama is trying to curb retirement savings tax breaks for the "rich". I have to agree with the writer when she speaks about the purpose of the myRA accounts that … Continue reading
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 401k, Federal Tax, Financial Arsenal, financial directive, Income, IRA, social security, tax limits, Taxes
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
Posted in budget, budgeting, financial directive, Income or Pay, Income Tax
Tagged budget, Federal Tax, Income, spending plan, Tax, Taxes
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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 Federal Tax, financial directive, Tax, Taxes, W-4, W4
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 401k, Federal Tax, IRA, Roth IRA, social security, Tax, Taxes
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
Posted in 401k, Income or Pay, Income Tax, Retirement Savings
Tagged 401k, Federal Tax, Federal Wage, Tax, Taxes
2 Comments
Annual fiscal checkup
Our auto insurance policy is due very soon, so I thought I’d check and see what other options there were out there to save a little money. I contacted a few different traditional vendors. I mentioned that I would be … Continue reading
Posted in 401k, budget, Retirement Savings
Tagged IRA, Retirement, spending plan, Tax, Taxes
5 Comments
