Use this online calculator to see how much of your Social Security benefits is taxable and how much of it is tax-free.
2022 2023 Tax Brackets, Standard Deduction, 0% Capital Gains, etc.
The tax brackets, standard deduction, and the 0% capital gains tax cutoff point for single and married filing jointly filing statuses will go up in 2023.
2022 2023 401k 403b 457 IRA FSA HSA Contribution Limits
The 2023 contribution limits for 401k/403b/457 plans and Traditional/Roth IRA will go up substantially due to high inflation.
2022 2023 2024 Medicare Part B IRMAA Premium MAGI Brackets
You pay higher Medicare Part B and Part D premiums if your income exceeds certain thresholds. Here are the IRMAA income brackets for 2022 2023, and 2024.
ACA Premium Subsidy Cliff Turns Into a Slope Through 2025
The Inflation Reduction Act extended the ACA premium subsidy cliff to a slope through 2025. The cliff will return in 2026 unless a new law is enacted.
2022 2023 ACA Health Insurance Premium Tax Credit Percentages
If you get health insurance from ACA, the government sets the percentages of income you are expected to contribute toward a benchmark policy.
An Unusually High Marginal Tax Rate Means Paying Lower Taxes
An unusually high marginal tax rate isn’t a problem. You’re rewarded with paying lower taxes. You live on after-tax dollars, not rates.
2022 2023 HSA Contribution Limits and HDHP Qualification
2022 and 2023 calendar year HSA contribution limits and HDHP qualifications for individual and family coverage. Big changes due to high inflation.
Free E-File State Tax Return Directly on the State’s Website
TurboTax and H&R Block charge $25 to e-file a state tax return. Follow these links to e-file for free directly on your state revenue agency’s website.
The Best Tax Software for Foreign Tax Credit (IRS Form 1116)
I tested TurboTax, H&R Block, FreeTaxUSA, and OLT on doing a Form 1116 for the foreign tax credit. Four software packages gave three different answers.
Too Much Hassle in Claiming Foreign Tax Credit on IRS Form 1116
Holding international stock funds in a taxable account gives you foreign tax credit, but claiming it on IRS Form 1116 has become too much hassle.
When TurboTax and H&R Block Give the Wrong ACA Subsidy
If you’re self-employed on ACA health insurance, TurboTax and H&R Block software may give wrong numbers for the subsidy. Use this calculator instead.