Money has been tight for a lot of people this year. With inflation, you may be finding it difficult to make ends meet. Instead of wishing that you made more money than you do, there are ways to increase income without working harder or getting a second job. You may just need to change your…
Colorado Penalizes Marriage in New Tax Bill
On Nov. 8, Coloradans overwhelmingly voted “yes” on Proposition FF, which expands its universal free school meals program by limiting deductions on earners making over $300,000. And by doing so, Colorado voters also voted to penalize marriage. According to the nation’s leading independent tax policy nonprofit, Tax Foundation, when Colorado passed Proposition FF or the Healthy School…
All About the Standard Deduction in 2023
Most taxpayers know that deductions allow you to take out certain expenses from taxable income. This lowers the tax burden. There are two types of deductions: standard deductions and itemized deductions. You can only choose one and cannot itemize deductions and use the standard deduction in the same tax year. The standard deduction is about…
Colorado Raises Taxes on Wealthy to Expand Universal Free School Meals Program
On Nov. 8, Coloradans overwhelmingly voted “yes” on Proposition FF, which expands its universal free school meals program by limiting deductions on earners making over $300,000. As a result, beginning with the 2023-2024 school year, Colorado will create the Healthy School Meals for All program, allowing all school children to receive a complimentary breakfast and lunch regardless…
Recipients of Pandemic Subsidies Owed a Total of $723 Million in Unpaid Taxes
Government COVID-19 subsidies were paid to more than 56,000 companies that turned out to be insolvent and owed a total of $723 million in unpaid taxes. The Canada Emergency Wage Subsidy (CEWS) began in March 2020 to help small businesses pay employees, with a 75 percent wage subsidy for up to 12 weeks. The entire program…
Powerball Jackpot Hits Largest-Ever $1.6 Billion: Here’s How Much Would Go to Taxes
The “world’s largest lotto prize ever offered” is now at stake during this weekend’s Powerball drawing, said the game operator on Friday. Powerball’s operators increased the jackpot estimate on Friday morning to $1.6 billion, which has a cash value of $782.4 million, according to a news release. The drawing is Saturday, Nov. 5, at 10:59 p.m….
Tax Laws That Sunset at Year-End 2025: Take Advantage Now
The Tax Cuts and Jobs Act (TCJA) tax law changes will sunset on Dec. 31, 2025. And although this may seem far off, it’s never too soon to plan. You and your accountant may be able to set up mechanisms now to avoid some of the higher taxes that are coming. But what exactly will…
Is It Worth It to Move to a Low-Income Tax State to Save Money?
Many people in the United States have decided that it would be a good idea to move to a low-income tax state—or to a no-tax state—to save money. While it may sound like a good idea—it’s time to find out—is it worth it? An article from The Washington Post reported that the states that have…
TotalEnergies, Shell Post Bumper Profits, LNG Business Diverges
October 27, 2022
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Business & Marketseconomic policieseconomyenergyfuelGold and CommoditiesMarketsshelltaxesTotalEnergies
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LONDON/PARIS—Europe’s two largest energy companies Shell and TotalEnergies reported profits of more than $9 billion in the third quarter, though Shell’s liquefied natural gas (LNG) division struggled to capture the benefits of high fuel prices. The strong earnings were likely to intensify calls in Britain and the European Union for further windfall taxes on energy…
Year-End Finance Tips for Families
October 25, 2022
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Brightbudgetingfinanceinvestingpersonal financeportfolioretirementsavingstaxesUncategorizedWealth Management
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The end of the year is a busy time. Last-minute pushes for school and work and the holiday rush makes November and December frantic. But this is a good time to examine finances and plan for the new year. So, take the time to cross these financial tips off your to-do list. Assess Your Spending…
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