Expanding the Earned Income Tax Credit in 2016

** See this article for the latest Earned Income Tax Credit adjustments released by the IRS ____________________________ [Updated following SOTU speech] Following President Obama’s state of the union speech and in addition to the items below, he had some good news on expanding the Earned Income Tax Credit (EITC)  for …

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5 Insider Tips for Starting a Small Business

I spend every day writing on the subject of personal finance. So it’s rare that I get to discuss straight-up business tips. But because of the growth of this once little known blog, I’m now running my own legitimate small business. Below I present some tips I’ve picked up along …

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10 Easy Ways to Boost Your Retirement Savings Starting Now

With longer life expectancies, a roller coaster stock market, and lessons learned from a post-pandemic world it’s more important than ever to find ways to boost your retirement savings now. Although there may be many obstacles to doing so, even just a few of the simple tactics outlined here can …

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2010 HIRE Act – Small Business Health Care Tax Credit, Payroll Tax Incentive and Business Credit For Employers Hiring and Retaining Unemployed Workers

[Updated with New IRS provisions] The IRS has released more details on tax-saving opportunities included in recently enacted HIRE act federal legislation (see details in previous update below). A variety of business tax deductions and credits were created, extended and expanded by the American Recovery and Reinvestment Act of 2009 …

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Biden American Rescue Plan (ARP) – The Final Stimulus Package in 2021

President Joe Biden’s $1.9 trillion stimulus proposal called the American Rescue Plan (ARP) has now been passed in Congress. It contains several provisions to help small business, local governments and low and middle class households. This includes additional economic impact payments (a.k.a stimulus checks) and a further extension of unemployment benefits. You can see …

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Setting up My Small Business Home Office

I recently incorporated my first company. It has one employee – me – and its only asset is this website. But it was a great feeling to officially become a small business owner, thereby joining 15 million other Americans. The reason for incorporation was primarily driven by the taxation benefits …

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