December 2010

2011 Economic Outlook and How to Invest and Prepare For the Year Ahead

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So what will 2011 look like for the US and global economy? 2010 was a year of recovery, but it was sputtering and many questioned whether the recovery was real and if it could be sustained. As we head in to 2011 things are looking brighter following a booming stock market (up 13%), a new [...]

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Being Laid Off? Negotiate That Severance Package

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Just about anything involving money is a source for negotiation, but many people don’t think about the fact that their severance package is as well. Although we don’t want to think about that day when we may be laid off, it’s important to be prepared to negotiate our compensation package. Especially if you’re in a [...]

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Tax Tips If You Are Looking for a Job – Deducting Moving, Education and Job Search Expenses

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With almost 10 percent of the United States workforce currently unemployed, the idea of owing money at tax time is downright scary. If you are actively looking for a job, there are a number of tax benefits – including some sizable tax deductions available to you – that should help minimize your tax implications during [...]

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2011 Tax Brackets – Updated IRS Federal Income Tax Tables and Income Thresholds

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The IRS has released its 2011 Tax Rates and Income thresholds following approval of the Bush-Era Tax Cuts. The latest 2011 IRS federal tax table is shown below with the following key tax changes: – Personal exemptions and standard deductions will rise and tax brackets will widen due to inflation adjustments related to provisions that [...]

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Child Tax Credit Extension For 2011-2012

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As part of bush-era tax cuts extension legislation (Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010), a number of popular tax breaks were extended. This includes the valuable tax credit for dependent children that many parents have taken advantage of over the last few years. Thanks to past legislation the child tax [...]

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2011 Employee 2% Payroll Tax Cut Holiday For Social Security and Medicare. Making Work Pay Credit Not Extended

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As part of bush-era tax cuts extension legislation (Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010), a number of new tax breaks were made available. One was a temporary one year cut in employee payroll taxes, which funds Social Security and Medicare, of 2% during 2011. The current rate is 6.2%, which [...]

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A New 2011 Economic Stimulus Package With Obama-Bush Tax Cuts and Unemployment Benefit Extensions

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[Update - No New Taxes with Tax Extensions Approved] President Obama has now signed into law a bill that covers a temporary extension of all the bush-era tax cuts. The new bill also contains extensions to some of the 2008 stimulus tax breaks, and even has some new tax cuts. With this legislation he has essentially created [...]

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2010 Taxes Filed in 2011 – Key Facts and What To Remember

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Tax season is almost here and it’s important to think about your tax minimization and management strategies so that you save when filing. I will be publishing more tax related posts over the next few weeks (subscribe), but in the meantime here is a cool Tax Infographic with some interesting statistics and a helpful tax [...]

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5 Tips for Paying Off Student Debt Faster

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Student loans are one of the most common forms of debt and can easily turn into a life-long hassle if you aren’t careful. If you are a recent graduate, the best thing that you can do for the state of your finances is to make paying off your student debt a priority. Here are a [...]

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Bush Tax Cuts Extended As Part of Unemployment Insurance Extension and Payroll Tax Deal

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In addition to keeping the current tax rates for all Americans, President Obama announced a compromise plan with the Republican leadership that would extend aid for the long-term unemployed for another 13 months. Other taxes that will be implemented or remain unchanged as part of the compromise include: The payroll tax, which funds Social Security [...]

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