Member Blogs

In my last blog article, I reviewed Federal income tax liability. Today we move to Social Security tax. Almost all workers, whether they work for themselves or someone else, pay Social Security taxes. How much do you pay? Let’s begin with taxpayers who work for someone else. Employees pay Social Security tax of 6.2% on []

The IRS will notify you of an audit through the mail, the agency will not initiate an audit over the telephone. Most audits are handled through the mail without the need to meet with an IRS agent.

I love baseball. It’s the best. With baseball season starting and tax returns due soon, let’s take a look at an interesting intersection between the worlds of baseball and taxes: Shohei Ohtani’s contract.

One significant difference between ETFs and mutual funds is how they are traded. ETFs trade like stocks, the market price of the ETF changes throughout the day and the price depends on when you buy or sell shares.

In todays unpredictable world, having a financial safety net is crucial for weathering unexpected storms. One of the most fundamental components of a solid financial plan is an emergency fund. Let’s delve into what an emergency fund is, why its essential, and how a financial advisor can be invaluable in helping you build and manage [] The post The Importance of an Emergency Fund and the Value of a Trusted Financial Advisor appeared first on Favored FP .