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Investing Options Series: 401(k)

Posted on 21. Jul, 2006 by .

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I’m continuing the investing options series by covering long-term investing options – starting with 401(k)s. What Are They? A section 401(k) plan is a type of tax-qualified deferred compensation plan in which an employee can elect to have the employer contribute a portion of his or her cash wages to the plan on a pre–tax […]

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How Much Time Should You Spend On Your Finances?

How Much Time Should You Spend On Your Finances?

Posted on 06. Sep, 2009 by .

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There’s a concept in finance called “cost-benefit analysis” which involves calculating whether an item’s cost outweighs its benefit. For example, I spent 8 hours yesterday cleaning the apartment I just vacated. If I had bothered to perform a cost-benefit analysis, I would have asked myself whether or not the cost (8 hours of my time […]

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How a Flexible Spending Account (FSA) Will Save You Money

Posted on 05. Dec, 2007 by .

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After a year at my new job the benefit enrollment season just opened again, and I made one change to by benefits that I hadn’t ever done before – I signed up for a Flexible Spending Account (FSA). For those of you that don’t know, a Flexible Spending Account allows an employee to set aside […]

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There’s Still Time for Retirement Savings This Year

Posted on 14. Nov, 2007 by .

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For most tax-related issues, the IRS functions on a calendar-year basis. For example, all of your income made between January 1 and December 31 is taxable. If you have a child on January 1 of next year… that child tax credit isn’t available until next year. However, there are a few cases in which the […]

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IRS Announces Inflation Adjustment

Posted on 29. Oct, 2007 by .

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For 2008, personal exemptions and standard deductions will rise, tax brackets will widen and workers will be able to save more for retirement, thanks to inflation adjustments announced last week by the IRS. By law, the dollar amounts for a variety of tax provisions must be revised each year to keep pace with inflation. As […]

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