It’s tax time again, and as you look over your tax payments for calendar 2016, you’re undoubtedly wondering where those dollars are being spent.
Many of President-Elect Donald Trump’s policy proposals are too vague to analyze, but one area where he has been clear is on reforming our tax system. Here’s a quick primer on the changes that you can expect to be introduced to Congress in the coming year.
1) A shift from seven income tax brackets to three:
We're just a month away from the mid-year point, believe it or not. As a half-time refresher of sorts, I wanted to share some information on all things IRA. The following infographic from Max Retire Rules covers the high-points on the four types of IRA - Roth, Traditional, Simple, and SEP
The nice thing about this piece is that in addition to covering the basics of how each IRA functions, there is also updated limit information for 2013. This can come in handy as you contemplate your contributions now or in the future for the 2013 tax year.
According to American Express nearly one out of three adults is attending a wedding this year - so there’s a decent chance you have an answer to our title question.
This is a little off of the beaten path, but interesting none the less. I came across this inforgraphic put together by American Express breaking down all things wedding, from a dollars and cents standpoint.