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
taxes
Minimums, Anchors, and Thresholds
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
Cheap lessons
Become a Patron! One of my favorite concepts to tell people about is "affordable luxuries," the things that barely make a dent in your bank account but immediately spark joy: cheap candles, nice towels, or a new filter in your refrigerator. There are times when spending a lot of money will make you a lot happier, and there are times when spending just a buck or two will make … [Read more...] about Cheap lessons
Education, advice, and evasion
Become a Patron! A few years ago I wrote about one of the curious fixations I observed among the wealthy denizens of the finance industry: the need for "personal finance" education. In this telling, the problems troubling American civilization are not the result of financial deregulation, or corporate consolidation, or employee misclassification, or wage theft, or race and … [Read more...] about Education, advice, and evasion
Five profitable things to do with low-interest loans
Become a Patron! I've written many times about my fondness for low-interest, and especially low-fee, balance transfer and cash advance credit cards, which allow consumers to borrow large — sometimes very large — sums of money for a fixed period of time and pay nothing to the bank if the loan is paid off by the end of the promotional period. This is a form of what I think … [Read more...] about Five profitable things to do with low-interest loans