When I look at my paycheck, especially when its a check where I worked a ton of overtime, I am always saddened by the federal income tax line. I wouldn’t mind so much if I actually owed them the money, but at the end of the year I end up …
I mentioned in my Introduction to this blog that I am not just writing this blog to share my knowledge, but also to gain more myself. This post is a prime example of that. While writing this post I initially delved into complex tax avoidance strategies and stretch IRAs and …
If The Federal Government were a household, its balance sheet would look something like this: Income $55,400 Expenses: $69,000 Deficit $13,600 Debt $341,400 Of course the Federal Government is not a household. They have unique characteristics that the average household doesn’t have. They have the ability to increase income through …
If an employer provides an HSA and the employee contributes to the HSA through payroll deduction, then in addition to HSA contributions being tax deductible for federal income tax purposes (and most state income tax purposes), the contributions are also deductible from payroll taxes, Social Security and Medicare. Currently Social …