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Smart Ways to Spend Your Tax Refund
General Information, Have Money, LifestyleAs of April 2014, the average tax refund for is $2,831, according to the IRS. While it might be tempting to use this windfall for something fun, like a vacation to someplace warm and exotic, there are better ways to spend your refund that…
Myths and Facts about Social Security
General Information, Have MoneyMyth: Social Security will provide most of the income you need in retirement.
Fact: It's likely that Social Security will provide a smaller portion of retirement income than you expect.
There's no doubt about it--Social Security is an important…
Why are taxes hidden?
General Information, Have MoneyNot surprisingly, hidden taxes largely go unnoticed. The result may be that this can make it difficult for us to choose wisely the goods and services that we purchase, or to have a true accounting of our total tax burdens.
Sin taxes
General Information, Have MoneyA seemingly favorite way for government to tax is with the so-called "sin" taxes. Ostensibly, these taxes are imposed to reduce behavior that society considers unhealthy, immoral, or just undesirable in some way. That is why there is a tax on…
Planes, trains, and automobiles
General Information, Have MoneyMany hidden taxes are associated with travel. For example, when you pull up to the pump, you can clearly see the price for the gas, but the "taxes included" disclosure is usually posted somewhere else. How much of what you pay goes to tax revenue?…
How taxes are hidden
General Information, Have MoneyTaxes are hidden in many ways. For example, you see the payroll taxes that are deducted from your payroll check each pay period. What you do not see are the taxes that your employer pays. For example, in addition to income tax, your employer…
Hidden Taxes: What Is Your True Cost?
General Information, Have MoneyWe are pretty well aware of the taxes we must pay as U.S. citizens; income taxes, payroll taxes, sales taxes, property taxes, and gift and estate taxes, to name a few. We can easily see these taxes on our pay stubs, tax bills, and sales receipts.…
Investment Tax Planning
General Information, Have MoneyIntroduction
Investment planning can be important for several reasons. However, any discussion of investment planning is incomplete without a thorough understanding of the applicable income tax ramifications. Tax planning can help you reduce…