What is a 401(k) Plan?

A 401(k) plan is an employer-sponsored retirement savings plan that allows employees to divert part of their salary to a tax-deferred investment account. Salary put in the plan is not taxed until it is later withdrawn, presumably in retirement. Employers often match part or all of the employee’s deposits. Penalties usually apply to withdrawals before […]

Alternative Minimum Tax

The Alternative Minimum Tax (AMT) is an income tax imposed by the United States federal government on individuals, corporations, estates, and trusts. AMT is imposed at a nearly flat rate on an adjusted amount of taxable income above a certain threshold (also known as exemption). This exemption is substantially higher than the exemption from regular income tax. Regular taxable income is adjusted for certain […]

A Quick Lesson in Debt and Money Management

Things have gotten pretty bad when it comes to managing credit card debt in our “borrowing nation”. When a credit card company, or a mortgage company is encouraging you to go into debt even more by paying off a debt just to get into another, you know were in trouble. Credit card debt has grown […]

E-Commerce and Sales Tax

If an online business has a physical location in a certain state, such as a store, business office, or warehouse, it must collect sales tax from customers in that state. If a business does not have a physical presence in a state, it is not required to collect sales tax for sales into that state. […]