A few months ago, my company has been looking to cut cost in order to balance their budget. I guessed, I can say that to most companies during the economic downturn. The company does not have any plans of laying off people and we are also in a hiring freeze except for the critically needed staff. However, what they did was the company stopped the matching contribution to my … [Read more...] about My Employer Has Restored the 401k Matching Contribution
The economy seems better than it was two years ago. The Dow Jones has hit the 12,000 points mark and unemployment rate seem to be going down as the months passes by. On a recent statistics by BLS, the unemployment has dropped to 9% in January. However, there are still a Â lot of companies that are struggling to make it. Some have already filed bankruptcy and shut down their … [Read more...] about Has Your Employer Made Any Cuts Lately? Mine Did!
During the economic downturn for the past couple years, millions of Americans have lost their job. However, as part of the American Reinvestment Recovery Act, the government made sure that even the unemployed are also taken care of by offering numerous benefits such as extending the unemployment benefits, exclusion of up to $2,400 of income, and subsidizing the COBRA health … [Read more...] about Tax Issues For The Unemployed Individuals
Taxes are really very confusing. There are some deductions that people think they can claim but in reality, they can't.Â I'm sure that you've been hearing different stories from your friends or co-workers regarding the deductibility of some deductions. It works the same way with reportable income: Determining which income is taxable or not can really be very confusing for a … [Read more...] about 7 Income People Think Are Taxable But Actually Are Not
Sometimes your job may require you to pay out-of-pocket costs.Â When this happens, you may be able to deduct those expenses on your tax return. Keep in mind that you can only deduct them if you are itemizing your expenses. So if youâ€™re only claiming the standard deduction, then you wonâ€™t be able to deduct these expenses. In addition, these costs are subject to the 2% of … [Read more...] about Unreimbursed Employee Expenses: What Can You Deduct