Tag: wealth
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Chapter 43: Peak Tax Season
Tax Day is April 15th. The IRS offers free online filing resources. Low-income, disabled, and limited English speakers can get free tax help. If you can’t pay, request an extension before April 15th or consider payment plans.
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Chapter 42: Effortless Savings
The best way to manage your money is to distribute it wisely. Use a checking account for bills, a HYSA for emergency funds, contribute to retirement accounts like 401(k) and Roth IRA, and consider a taxable brokerage account for investing after all other options are exhausted.
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Chapter 41: Workplace Contributions
The content discusses tax-saving strategies, such as contributing to a 401(k) for future tax deferral benefits, and considering Roth accounts for tax-free growth, providing a balanced approach for retirement planning.
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Chapter 40: Tax Loss Harvesting
During tax season, it’s nice to harvest capital losses to reduce taxable income. You can still claim losses with a standard deduction and benefit from lowering your tax burden. Timing and strategy are key for maximizing this opportunity.
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Chapter 39: Tax Refund
The chapter explains tax refunds, overpayments, underpayments, and the importance of managing tax withholdings. It emphasizes adjusting W-4 forms to avoid overpaying and the significance of keeping a close eye on tax liabilities.
Money Ain't Sh*t 