Author page: raultax

In the complex world of tax and financial planning, one of the areas that often confuses even the most seasoned professional is Medicare. The government program, designed to provide health insurance for Americans 65 and older, can be a minefield of regulations and exceptions. It's no wonder that mistakes are common, and these errors can…

Q The inflation rate measures how much the general price level of goods and services in an economy increases over a specific period, usually a year. Inflation is measured by calculating the percentage change in a price index, typically the Consumer Price Index (CPI), which tracks the cost of a representative basket of goods and services purchased…

Q Estimated quarterly taxes are most frequently paid by freelancers, the self-employed, and business owners. In most cases, you must pay estimated tax for the current tax year if both of the following apply: You'd expect to owe at least $1,000 in taxes for the current year (after subtracting refundable credits and withholdings) and expect…

Q If you aren’t already doing so, take full advantage of the benefits of tax-advantaged accounts like 401(k) and individual retirement accounts (IRAs), including contributing the maximum allowable amount each year, ideally with matching funds from an employer. It's also important to weight the tradeoffs of different account types. Traditional 401(k)s and IRAs are funded…