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Car Depreciation: One Reason you Should Buy a Used Car Are you a car owner? Like it or not, your car is losing value. Car depreciation affects every car owner. Keep reading to learn how to best mitigate it.
2024 & 2023 Federal Income Tax Brackets: A Side by Side Comparison The IRS released the 2024 Tax Rate Brackets recently, along with the 2024 Standard Deduction amount and a bunch of other details that your tax man might find interesting. I couldn’t find a side-by-side comparison with 2023, so I decided to create one that I could look at, and that will hopefully help you out. The tax rates themselves are unchanged. They remain at 10, 12, 22, 24, 32, 35, and 37 percent. The income you can earn per each bracket has been raised a fairly significant amount, on average a little more than 5.0%. This amount is about on par with inflation, which was 6.5% in 2022 and, so far in 2023, is 3.2%, according to the U.S. Inflation Calculator. Why do tax rates matter? If you are reading this, you probably already know why they matter, but just thought I’d make sure. These tax rates impact how much ...
401a vs 403b: What’s the Difference Between 401(a) and 403(b) Plans? Retirement planning is an important part of any financial strategy, and understanding the available retirement savings options is a substantial step toward ensuring a financially secure future. Two common retirement savings plans offered by employers, depending on who you work for, are 401(a) and 403(b) plans. What's the difference between 401(a) and 403(b)? A 401(a) plan is typically established by government or non-profit employers, with contributions often mandatory and set by the employer, while a 403(b) plan is available to employees of tax-exempt organizations and public schools, with contributions usually made voluntarily by the employee. The specific contribution limits, investment options, and distribution rules can vary between these two types of plans, but both offer tax-advantaged retirement savings. While they share some similarities, they also have distinct features, eligibility requirements, and contribution rules. This article aims to differentiate these two types of plans, shedding light on their differences, benefits, and ...
Retirement Accounts Guide for 2020 & The Order I Invest My Money Your one stop guide and resource for retirement accounts in 2020. Including the CARES Act. Plus recommendations for the order to invest.
Net Worth | October 2020 Our October 2020 net worth increased and were back to positive cash flow. The markets are volatile, but we are still making money!