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3 min read

How to Find the Best Health Savings Account

By EveryIncome on 4/24/23 10:00 AM

Do you have high-deductible health insurance? If so, you may have the option to open a health savings account (HSA) to help buffer your finances against damaging medical debt.

If you can get an HSA, you definitely should. Here’s why.

Topics: Health Care Tax Savings Health Savings Accounts Savings
3 min read

Tax-Sheltered Savings Options: How to Keep More of Your Money

By EveryIncome on 3/31/23 10:00 AM

The phrase “tax shelter” may sound sketchy, but the term is a little misleading. Law-abiding citizens can invest their income in several perfectly legal tax-sheltered savings accounts. These savings strategies allow you to reduce your taxable income and keep more cash in your pocket.

Topics: Financial Planning Tax Savings Taxes Financial Wellness
3 min read

How To (Legally) Reduce Your Taxes

By EveryIncome on 3/24/23 10:00 AM

Let’s face it: No one likes paying taxes.

When you start to think about how much of your hard-earned money goes toward them, it can get frustrating—particularly when it comes time to file your taxes, and you see the yearly totals.

While there’s no way to avoid taxes altogether, there are ways to legally reduce how much you pay. Below are a few tips and tricks for keeping more money in your pocket.

Topics: Financial Planning Tax Savings Taxes Financial Wellness
4 min read

The Self-employed Person’s Guide to Tax Planning

By EveryIncome on 3/17/23 10:00 AM

Are you one of the many individuals who are taking charge of their careers by choosing to become self-employed?

If so, you need to take charge of your record keeping (especially for tax purposes), and that process can be a bit daunting. Here are some tips that will help you achieve the best financial outcome and ease the pressures of tax season.

Topics: Financial Planning Tax Savings Taxes Financial Wellness
3 min read

When to Consider ‘Married Filing Separately’ on Income Taxes

By EveryIncome on 2/10/23 10:00 AM

Most married couples never think about filing their taxes separately. They simply check off “married filing jointly” on their tax form and move on to the hard questions.

Generally speaking, a married couple should file their taxes together. Filing jointly combines a couple’s two incomes into one amount, which, after excluding nontaxable income, becomes the couple’s adjusted gross income (AGI). This larger number may push a couple’s income into the eligibility zone of certain deductions and credits.

Nevertheless, there are certain situations when you should consider opting for “married filing separately”.

Topics: Financial Planning Tax Savings Tax Benefits Taxes Financial Literacy
2 min read

Why You Should Consider Investing in Life Insurance

By NAIFA on 5/2/22 1:30 PM

Do you ever worry about what will happen if something happens to you? Not the fear that grips you when you are alone in your home at night, but the stress and anxiety associated with trying to provide for your family, pay off debt, or maintain your lifestyle. This is where investing in life insurance can have various benefits.

Topics: Life Insurance & Annuities Financial Planning Tax Savings Financial Literacy Insurance
3 min read

Tax Planner: Should You Hire One?

By EveryIncome on 4/4/22 2:30 PM

There are tons of online tax tools. Why go through the trouble of finding and hiring a tax planner?

Because a tax planner could save you millions over your lifetime, along with other benefits. Here’s what you need to know about tax pros.

What is a tax planner?

They are accounting professionals — certified public accountants (CPAs) or tax attorneys — who work with clients over a long period. A tax planner’s primary goal is to ensure that the client is prepared for the next filing season and pays the minimum taxes legally possible.

Topics: Financial Planning Tax Savings Taxes Financial Literacy
3 min read

How Careful Tax Planning Saves You Money

By EveryIncome on 1/24/22 10:00 AM

Even just a little tax planning can help save you money when tax time comes. Among other things, tax planning can help you and your accountant or tax advisor evaluate your financial situation in light of the current tax laws.

Below are some basic ideas and strategies you and your tax advisor might use to manage your tax burden.

Topics: Financial Planning Tax Savings Tax Benefits Taxes
2 min read

Perks of Remote Jobs: Home Office Deductions and Other Financial Benefits

By EveryIncome on 1/10/22 2:18 PM

While some professionals are returning to their daily grind at the office, many Americans are continuing to work from home. Although focusing on work can be a challenge amid kids, pets, and other distractions, many workers are discovering and embracing the financial benefits offered by remote jobs. Here are some of the ways that remote workers can save money.

Topics: Tax Savings Financial Wellness COVID-19
2 min read

Retiring Soon? What You Need To Know About Tax Planning

By EveryIncome on 2/4/21 8:30 AM

Many Americans look forward to retirement as a time when the pressures of the working world are behind them. However, it can also create new challenges—especially around tax season.

Topics: Retirement Tax Savings Taxes Financial Security