Tag Archives: Medicare

Create Your Post-College Budget In 6 Easy Steps

Establish A Post-College Budget In Just 6 Steps

Congratulations on having earned your diploma and on having received a job offer. This time of life is guaranteed to be exciting.

As you begin planning your next moves, it is vital to have a budget. How do you create a post-college budget? Following are several things that I discovered after having graduated and started my first adult job.

Consider Your Monthly Income

Investment

Investment (Photo credit: LendingMemo)

You might have an awesome starting salary, but you should not use this figure to write out your budget. Determine how much you’re going to … Read more at 2011 Taxes.

The Supreme Court Decision On Healthcare Will Affect Taxes

The nation waits for the Supreme Court to announce the ruling about health-care. Many wonder how their ruling will change taxes?

Not only does the Supreme Court decide about the Affordable Care Act, but also taxes. How will their judgement change taxes?

The law must include tax cuts and increases. Even if the individual mandate is eliminated, the taxes would go on. Unless the Supreme Court eliminates the entire healthcare bill.

The mandate tax will be the punishment people would owe for not buying insurance. The High Court must decide whether it is considered a penalty or a tax.… Read more at 2011 Taxes.

After Fierce Contention Over Payroll Tax, GOP Plays Offense To Dems.

With reputations damaged after payroll tax cut squabbles, Republicans in congress fight to change topics by emphasizing job creation. Pushing legislation that would bring jobs to the suffering economy, the GOP contends that bills promoting energy and transportation services, as well as lowering business tax and promoting capital, will reinvigorate the weak job market.

On the other hand, Democrats fight to retain control by forcing the Republican vote on needed programs paid for by tax hikes on the highest wage earners, in an election year nonetheless.

Both legislative positions emphasize political strategy drawn from the fight over payroll. The battle … Read more at 2011 Taxes.

The Debt Deal. Time To Do Your Own Tax?

Many people are confused about the recent debt deal and how it will affect them. The details of the deal raise a lot of questions and offer few answers. Federal spending will face huge cuts over the next 10 years and about one third of all cuts will come from defense and security.

One of the bills main feature is the establishment of a committee whose aim is to find a further $1.5 trillion in cuts. There are no guidelines as to where these funding cuts will be made and some commentators expect to see significant reductions in Social Security … Read more at 2011 Taxes.

Self Employment Tax Issues

turbotax

People often get so swept up in the first exciting year of starting their own business, going freelance or contracting that they forget some of the more mundane, but nevertheless important changes that self-employment will bring. Along with a renewed passion for your career and control over your own destiny and potentially far greater financial rewards, there are also a number of downsides and financial hurdles to setting out on your own.

Self Employment Tax will be one of those hurdles. Self-Employment Tax is a tax that you were never required to pay as an employee, but essentially it is … Read more at 2011 Taxes.