House Approves Tax Stimulus Package

In case you haven’t heard, the House of Representatives voted earlier this week to approve a $146 billion economic stimulus package by a 385-35 margin. Over in the Senate, Democrats have been pushing for a more generous plan but apparently don’t have the votes needed to push it through. Assuming they can’t make it happen, […]

IRA Changes for 2008

If you’re currently contributing to an IRA, or hope to do so in the near future, then you should be aware of the following IRA-related legislative changes for 2008… You can now roll assets directly from a 401(k) to a Roth IRA. In the past you had to roll the funds into a traditional IRA […]

Tax Deductions: 12 Commonly Missed Tax Deductions

Yesterday I put together a list of common federal income tax deductions, so today I thought I’d follow up with a list of commonly missed tax deductions and/or income adjustments that I dredged up from various corners of the internet. While there’s a bit of overlap with yesterday’s list, there are a number of new […]

Would the “Fair Tax” Gut the Economy?

Recently, I’ve been seeing a lot of news about the so-called Fair Tax, which is being championed in one form or another by people like Mike Huckabee and Ron Paul. All of this talk about overhauling the federal income tax system has gotten me to thinking about what effect such a system would likely have […]

Common Federal Income Tax Deductions

Over the weekend, I spent a couple hours pulling together tax records and wracking my brain to make sure that I don’t forget anything. Since I’m sure I’m not alone in this, I thought I’d put together a list of common tax deductions that many people qualify for. Keep in mind that this list is […]

Qualifying for an ‘Economic Stimulus’ Tax Rebate Check

Update: Here is official guidance on qualifying for the tax rebate straight from the IRS. While Congress still hasn’t passed the proposed $150 billion economic stimulus package that promises tax rebate checks for the majority of Americans, you might be wondering how much you’ll qualify for under the proposed terms of the plan. Well, wonder […]

Monday Roundup – Speeding Ticket Edition

Yesterday morning I was driving to meet my wife for breakfast when I got pulled over for speeding. Apparently, I was going 65 mph in a 45 mph zone. Honestly, I find it hard to believe I was going that fast, because I glanced down as soon as I saw the speed trap and I […]

2008 Resolutions: Are You Still on Track With Your Goals?

We’re nearing the end of January, and last night I ran across an article that claimed that 92% of Americans fail to keep their New Year’s Resolutions, with a whopping 45% throwing in the towel within a month. With that in mind, I wanted to ask you guys how you’re doing? As for me, we’re […]

From the Archives (January 20th – January 26th)

Here are some of my favorite FiveCentNickel (subscribe) posts from a year ago this past week: » Most Common Financial Resolutions » How to Get an Employer Identification Number (EIN) » Super Bowl (and Stock Market) Prediction Poll Results And here’s what was happening two years ago: » An Interview with Ben Stein, Part 1 […]

Economic Stimulus Checks: Save or Spend?

Over the past week, I’ve put together some details about the tax rebates associated with the proposed economic stimulus plan. Given all the attention that this has been getting, I thought I’d put together a formal poll just to get a sense of how likely it is that people will do as the government is […]