Work-job-career Feed

Across America, special thanks go out this Veterans Day to all the men and women who courageously put on uniforms and served our country whenever and wherever called. But once those proudly-worn uniforms are packed away, former U.S. military members need more than just gratitude. Millions of soldiers, sailors, pilots and National Guard members need our support and help as they return to civilian life. That's why this 11/11 Shout Out Saturday goes to MartketWatch's financial checklist for former military members. And since you come here for tax talk, I don't want to disappoint. Here are a couple of tax... Read more →


Globally, the United States doesn't make the top 10 places people from other countries want to move. It came in 43rd in Internations' latest survey, as reported by the World Economic Forum. Maybe it's because of our tax system. People definitely are peripatetic. Millions of us move every year, with around 56 million crossing national borders to new homes. But there's one thing Americans who go abroad, be it for work or purely personal reasons (love and adventure join career as the top three reasons for expatriation), cannot leave behind. The U.S. tax code. Because Uncle Sam relies on a... Read more →


Picking up some extra cash is nothing new. People have always taken on added work when they've needed or wanted a few more dollars. Now, however, side hustles have become a viable employment option. They've also become a problem for the Internal Revenue Service. Growing gigs: The head of Intuit, the maker of TurboTax tax preparation software, noted earlier this year that more than a third of the U.S. workforce participates in the gig economy and it's growing. "We think self-employed [work] has a lot of opportunity for growth as we look ahead," said Intuit CEO Brad Smith said back... Read more →


Welcome to Part 4 of the ol' blog's series on 2018 inflation adjustments. Today we look at changes to some popular credits and deductions. You can find links to all 2018 inflation posts in the first item: Income Tax Brackets and Rates. Note: The 2018 figures apply to 2018 returns that are due in 2019. For comparison purposes, you'll also find 2017 amounts to be used in filing 2017 returns due next April. Millions of taxpayers depend each year on tax deductions and tax credits to cut their annual tax bills. The main tax reduction strategy is claiming the standard... Read more →


So that you can enjoy lazy days in your retirement like this couple, take advantage of tax-saving retirement moves by the October filing extension deadline. (Photo by Pug50 courtesy Flickr CC) If you're one of the millions who's put off filing your tax return until October, you know that due date — it's Monday, Oct. 16, this year — is just a week away. (More on this, complete with filing tips coming soon!) But mid-October is also a key deadline for other tax tasks, particularly when it comes to retirement savings. Here are a couple of retirement-related tax matters to... Read more →


October marks the start for many companies of open season for employees' workplace benefits, many of which provide workers some nice tax savings. It's also a good month to make other tax-related moves. It's time to turn our attention to health care again. This time, though, it's not medical insurance via the Affordable Care Act/Obamacare. Instead, October marks the beginning of open enrollment season for workplace-provided benefits at companies across the country. Decide now for next year: Open enrollment periods vary from company to company. Most run from two to four weeks for workers to evaluate their current benefits and... Read more →


Happy Labor Day. While many Americans are working on this holiday, others are fortunate to have off this first Monday in September. Whether you're working or not most likely depends on the type of employee you are. The Fair Labor Standards Act (FLSA) does not require employers to pay employees for time not worked, such as vacations or holidays, writes Susan Heathfield for The Balance. Different jobs, different days off: Salaried employees in exempt professional, technical or managerial positions expect paid holidays. Nonexempt, or hourly, employees are less likely to have paid holidays, or they receive fewer such days off... Read more →


All U.S. workers know, simply from looking at their pay stubs, that our tax system is pay-as-you-earn. Our taxes come out of our paychecks as withholding, both for federal income taxes, as well as to cover future Social Security and Medicare benefits. We don't have control over those taxes we pay now for federal retirement and hospital coverage when we're older. But we can — and should — adjust our income tax withholding if there are changes in our lives, such as marriage or a family addition or home purchase that can affect a tax bill, or we're getting a... Read more →


An expected increase in the Social Security wage base won't help most workers, but could be a tax break for wealthier earners. The economy is ticking along, with nominally more workers finding jobs. But many of them say they aren't getting paid what they should. That's causing some pushback from middle- and working-class voters who supported Donald J. Trump. "Trump ran as a working-class hero, so let's look at the results," Joseph Geevarghese, executive director of Good Jobs Nation, told the Washington Post. "We're seven months into his administration, and wages are flat." While the Administration and economists point to... Read more →


Most of the time, employees who are fired must look elsewhere for work. However, that’s not the case for some Internal Revenue Service personnel. An audit by the Treasury Inspector General for Tax Administration (TIGTA) found that around 10 percent of more than 2,000 former employees the IRS rehired between January 2015 and March 2016 were folks the agency had let go earlier because of conduct and performance issues. Troubling terminations: Those 213 rehired workers, according to TIGTA, had previously been ousted for workplace issues that included falsifying documents, avoiding taxes and taxpayer privacy offenses. Specifically, the July 24 report... Read more →


If you've been paying attention to Donald Trump Jr.'s meeting with some Russians last summer, you know the White House has given two reasons for the get-together. The explanation that caught my tax eye was that the group talked about adoptions. The president's oldest son said that one of the Russian nationals came to Trump Tower to lobby for reversal of the Magnitsky Act. The law gets its name from attorney Sergei Magnitsky, who died in 2009 while being held in a Moscow prison. Foreign fight, domestic family effects: In 2012, the U.S. law bearing Magnitsky's name was enacted. It... Read more →


Every financial adviser recommends that we all keep close eyes on our retirement plans, either by reallocating our investments or contributing more money throughout the year. Just last week, in fact, I put contribute to your retirement accounts on my list of 6 tax moves to make in July. Whether you're a young worker like those in this group or an older employee, take full advantage of your workplace's retirement plan. I felt like a bit of a nag, but apparently, folks — especially younger workers — need the constant reminding, especially when it comes to defined contribution plans such... Read more →


Since the iPhone debuted a decade ago, it's become an indispensable personal and business tool, with accompanying tax issues to consider. Steve Jobs introduced the Apple iPhone at MacWorld in January 2007. iPhone mania was in full swing six months later when, on June 29, 2007, with crowds camping out at Apple stores to be the first to own the 1st Gen/2G telecommunications device. (Click screenshot to view full presentation on YouTube) What were you doing 10 years ago today? If you're an extreme tech geek, you were among the thousands waiting to get your hands on the first ever... Read more →


Moving's a hassle for everyone, but in some cases the relocation costs are tax deductible. Donald J. Trump's family was finally reunited this weekend as his wife, Melania, and their 11-year-old son Barron moved into the White House. There were no moving vans spotted outside 1600 Pennsylvania Avenue to let the world know of the relocation. Rather, the word came, of course, via Twitter. This time, though it was the First Lady, not @realDonaldTrump, who let social media and the world know that the family had officially moved from Trump Tower in Manhattan to Washington, D.C. Melania used her official... Read more →


Remember that recent economic analysis that said Americans were more in debt than they've been in almost a decade? The bulk of that debt is housing related, but student debt also is a big contributor to the growing owing. Households today are borrowing differently than they did nine years ago, note New York Times reporters Michael Corkery and Stacy Cowley. The latest data show that student loan debt, driven by soaring tuition costs, makes up 11 percent of total household debt, up from 5 percent in the third quarter of 2008. Nice days mean students can turn their college campus... Read more →


Today, May 19, is National Bike to Work Day, the high point of National Bike to Work Month. I didn't bike to work today or any other May day, mainly because I work from home. I just walk down the hall to my office and get started. OK, after first eating breakfast, thumbing through the newspapers and brewing a cup of coffee. The other reason I don't bike to work is obvious in the photo below. Both tires on my bike (the red one in front), as well as on the hubby's, are flat. As flat as the proverbial pancakes.... Read more →


Regardless of your thoughts, political or otherwise, when it comes to L'affaire Comey, most of us can relate to the recently fired FBI director. Like James Comey, we've at some point been out of job, either by our choice or because we, too, were let go. If that happens to you, here are five steps to take. And, of course, there are tax implications for each of the post-job moves. 1. File for unemployment. If you lose your job through no fault of your own, for example, a corporate downsizing, you should be eligible for unemployment. Depending on the circumstances,... Read more →


I'm a big fan of teachers, not just because my grandmother and one of my aunts were teachers, but because I had great instructors from elementary through college. So celebrating National Teacher Day is the least I can do. That and remind teachers and others who help educate us that there's a tax break specifically for them. Tax reward for teachers: Most teachers go beyond lesson plans and working weekends to get ready to make the learning experience one that resonates. In fact, a lot of teachers spend their own money to help make their classroom presentations effective. In recognition... Read more →


An autographed photo of San Antonio Spurs point guard Tony Parker and the NBA team's head coach Gregg Popovich from Daniel Lewis' autograph collection. Another Coach Pop signature on a restaurant receipt with a really, really big tip is now getting attention. Gregg Popovich is in the midst of going for his sixth NBA championship as a head coach, but he's already the champ to one Memphis, Tennessee, restaurant employee. Pop, as the coach of the San Antonio Spurs is known, apparently left an almost 613 percent tip after a visit April 21 to McEwen's on Monroe. The dollar amount... Read more →


A couple of Republican-proposed changes to Obamacare would affect a popular individual savings option, the medical flexible spending account, or FSA. Many of the items this shopper can find on her local pharmacy's shelves are eligible for flexible spending account reimbursement. (Photo courtesy FSAStore.com) Tax-saving company benefit: An FSA is a benefit offered by many companies where workers can have a certain amount taken from their paychecks every pay period and placed into a special account. These accounts can help you cover such things as child care, commuting and medical expenses. Even better, the money is put into the FSA... Read more →