Monday , 3 October 2022

Finance

Mortgage Interest Deductibility Could Be a Fiscal Cliff Casualty – How Would It Affect Your Income?

The mortgage interest deduction — considered by many to be the sacred cow of tax breaks — has joined the list of possible items on the chopping block in the growing debate between President Obama and Congress about the so-called “fiscal cliff”. [Below is research on the merits of such a tax break elimination, the extent of the income tax increases on different income groups, the possible effects on the home ownership rate, type of houses purchased and house prices in general and their conclusion as to whether or not the elimination of such a tax break would be a sound decision.] Words: 1023

Read More »

The Top 5 States Residents Are Fleeing Due To Financial Repression i.e. Increased Taxes (+2K Views)

The past few years have really put the squeeze on cash-strapped states to find new sources of revenue. This environment has generated a level of tax aggression from certain states, which in turn has resulted in a net loss of revenue instead of the intended gain. Residents have begun voting with their feet, deciding to move out of the state instead of thinning their pocket through unwanted taxation. So which states are chasing away their residents? How does it impact you if you live in one of them? We track migratory patterns through our residency product data, and while some of the states are no-brainers, others may surprise you. [Take a look.] Words: 691

Read More »

Americans Could Face a Possible 17% Increase in 2013 Federal Income Taxes + Additional Increases in State/Local/Property Taxes! Here's How to Avoid Some of It

...With the fiscal cliff on the horizon — more than $600 billion in spending cuts and tax increases coming January 2 — lawyer and certified public accountant Leon LaBrecque predicts in a Bankrate analysis that Americans could face a 17% increase in their 2013 federal income taxes, in addition to increases in state, local and property taxes and, if the nation slips into another recession, they’ll see a significant dent in their portfolios. [That being said, below are some suggestions on how to minimize such an impact by taking some evasive action before the beginning of the new year.] Words: 576

Read More »

These Degrees Are the Ticket to the 10 Top Paying Careers

Staying in school has always been seen as the way to get ahead. Post-secondary education, especially a university degree, is often the ticket to the big pay cheque but not all degrees are created equally when it comes to earning potential. Which programs lead to the best paying jobs? Check out our list of the top earning degrees. Words: 775

Read More »

Want a Secure & Enjoyable Retirement? Here’s Exactly What to Do

Retirement planning is more intimidating for most than any other personal finance topic. We know we should be saving but not how much. We know it's important to use a tax-deferred account but not which one. Most devastatingly, we often leave saving itself completely up to chance trusting that we will have enough willpower to set money aside for 30-50 years. Luckily, finding a secure and enjoyable retirement need not be mysterious. Here's exactly what to do.

Read More »

What, and How Much, Should You Tell Children About Family Finances?

We’ve all been told that politics and religion are the most sensitive conversational topics, but if the recent T. Rowe Price 2012 Parents, Kids, and Money Survey study is any indication, perhaps we should add family finances to the list. According to the study, a shocking percentage of parents are routinely deceiving their children about money or, in some cases, failing to instill basic financial skills. Are you acting as a sound financial model to your children? Learn more from the informative infographic below.

Read More »