Become a Patron! This is my third and final post about first-time homebuyer savings accounts, a tax dodge that seems to have swept the nation a few years ago, with several states setting up similar-but-not-identical versions of the gambit, with vastly varying value based on income restrictions, time and contribution limits, investment options, and of course the state income … [Read more...] about First time homebuyer savings accounts, part 3 (Alabama, Mississippi, Montana)
Become a Patron! I recently wrote in detail about the first-time homebuyer savings account tax deduction offered by the state of Oregon, and promised a followup with an assessment of similar accounts offered by other states. If you haven't read that post, then you should probably start there, since the concepts I describe there will be helpful as I skim through the remaining … [Read more...] about First-time homebuyer savings accounts, part 2 (Virginia, Colorado, Minnesota, Iowa, Idaho)
Become a Patron! One of the most interesting things about the US banking system is just how decentralized it is. While most developed nations have just a handful of major banks, the United States pairs those nationwide behemoths with thousands of smaller banks and credit unions that may serve an area as small as a single city or county. Of course, in the 21st century … [Read more...] about Oregon first-time home buyer savings accounts: is the juice worth the squeeze?
Become a Patron! There has been a fair amount of confusion and chaos around changes made to the taxation of unemployment compensation in the American Rescue Plan, so as I'm finishing up preparing my own 2020 taxes, I want to draw readers' attention to one very important and one very minor consideration when reporting unemployment insurance benefits received in 2020. What's … [Read more...] about Two quirks to watch for when reporting 2020 unemployment compensation
Become a Patron! One of the most frustrating things that comes up almost immediately when you start talking to people about money is the way people treat certain purely regulatory or legislative figures as having some kind of moral or persuasive value. The example that has driven me crazy for years is the advice to "contribute enough to your 401(k) to maximize your … [Read more...] about Minimums, Anchors, and Thresholds