How Do Tax Brackets Work?

How Do Tax Brackets Work?

The Impact of Tax Brackets on Your Financial Planning There are actually two ways to look at your tax bracket. One is called your marginal tax bracket, and one is your effective tax bracket. Marginal Tax Bracket Your marginal tax bracket is the thing that is most...
To Roth or Not to Roth, That is the Question

To Roth or Not to Roth, That is the Question

IRA stands for Individual Retirement Account. There are two primary types, Traditional IRA and Roth IRA. In this post I’m going to give you the basic information you need to help determine which type is best for you to contribute to annually. Employee Retirement...
LLC vs S Corp, the tax implications of having a Business

LLC vs S Corp, the tax implications of having a Business

LLC vs S Corp: Navigating Business Tax Implications Many people start a business and are confused about what an LLC or an S-Corp is. They also don’t understand why they would be electing to be an LLC or an S-Corp. As it concerns a business and its taxes, understanding...
What Is Gift Tax?

What Is Gift Tax?

Since we’re in the season of giving and we so love this season, I thought this would be a great subject to tackle! What Is A Gift Tax? A gift tax is the tax on money or property that one living person gives to another. Items received upon the death of another are...