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2020: The 20somethingfinance Year in Review
2020: enough said. No description or recap necessary. No way to sugarcoat it. It was a truly awful year. Was it the worst year in recorded history? No, we’ve had worse. COVID inarguably had a huge...
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My Self-Review for the Last Year & Goals for 2021
It’s that time of the year when I give readers a full rundown on personal highlights (and lowlights) for the prior year and set some goals for the coming year. And while 2020 was… 2020, and maybe the...
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The Child Tax Credit (Updated for 2020 & 2021)
This article has been updated for the 2020 and 2021 calendar and tax years. As part of the Tax Cut & Jobs Act (tax reform), there were notable changes to the Child Tax Credit. Those changes impact...
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SEP IRA for Self-Employment Income Basics (For 2020 & 2021)
I recently did some in-depth research on SEP IRAs, SIMPLE IRAs, and Solo 401Ks for personal use for my side self-employment income and wanted to cover the primary questions I had and answers I found,...
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Solo 401K Basics for Self-Employment Income (For 2020 & 2021)
This is the second of a multi-part series on retirement accounts for self-employment income. I previously gave a rundown of SEP IRAs. In this post, I’ll cover the mighty Solo 401K. And up next: the...
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SIMPLE IRA Basics for Self-Employment Income (For 2020 & 2021)
This is the third installment in a multi-part series on retirement accounts for self-employment income. We previously covered SEP IRA and Solo 401K basics. In this post, we’ll cover the SIMPLE IRA. You...
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Self-Employed Retirement Plan Comparison: SEP IRA vs Solo 401K vs SIMPLE IRA
While completing my taxes in prior years, I started noticing that I would have a not insignificant tax bill due from self-employment and side project income unless I found a way to reduce my taxable...
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2021 Tax Filing Start Date Delayed by IRS
The IRS has announced that the 2021 tax filing start date (to file your 2020 income tax return) has been delayed until the end of the second week of February, 2021. This is a notable 2+ week delay for...
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2021 Tax Deadline and Extension Dates (for 2020 Tax Year)
This article has been updated for the 2021 tax season (the 2020 tax and calendar year). It’s January and other than frigid cold temperatures and seasonal mood disorder, you know what that means – tax...
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Free National Park Days in the U.S. in 2021
2021 Free National Park Days in the United States I’m a big fan of the U.S. national parks – they are truly a gift from previous generations, and our greatest national treasure. I highly recommend...
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How to Build an Affordable Home Gym & Get Rid of Your Gym Membership
I’ve never paid for a gym membership in my life and I don’t plan on it. Price is part of this, but even if it were free, I still don’t think I would have any interest. The reasons behind my philosophy...
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Do I Need to File a Tax Return? The Minimum Income to File Taxes in 2021
As the tax start date and inevitable deadlines approach, I wanted to share something that may come as a surprise to many – not all income-earning Americans are legally obligated to file a federal tax...
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2021 Federal Poverty Level (FPL) Guidelines
Every January, the United States Department of Health and Human Services publishes its annual update to the U.S. poverty guidelines for income (also commonly referred to as the “Federal Poverty Level”...
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The Cheapest New Cars of 2021
Each year, I enjoy researching and publishing a ranking of the cheapest new cars sold in the U.S. market. This article ranks the top 10 cheapest new cars of 2021, by price (MSRP, but I’ve also included...
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Thoughts on Short Selling, GameStop, & Reddit r/wallstreetbets
I rarely comment on current events, but the GameStop Reddit group supporters versus hedge fund stock price wars story is just too juicy to not take a bite, share my thoughts, and offer a few warnings...
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H&R Block Online Tax Prep Reader Giveaway! (Deadline to Enter is Sunday 2/7/21)
Tax return e-filing is live next Friday, February 12! If you haven’t already purchased your tax prep software this year – you may want to hold off for a few more days – because I am giving readers an...
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Education Tax Credits & Deductions: Updated for 2020 & 2021
Many readers of this site are completing school for the first time or plan to go back to school to further their education. So, I’ve compiled a list of education tax credits and deductions for 2020 for...
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2020 & 2021 Energy Tax Credits for Renewable Energy & Home Efficiency
I wanted to share a few updates with readers on energy tax credits for renewable energy projects for both 2020 tax year filing and for 2021. Energy tax credits may not sound like the most exciting or...
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A New Special ACA Open Enrollment Period Starts Soon
More people covered with health insurance is a good thing, particularly in the middle of the crippling health and economic consequences of a COVID-19 pandemic that has resulted in a significant number...
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The Best & Cheapest Tax Software: Top Tax Prep Comparison for 2021
The tax season start date (Feb. 12) and deadlines have been announced by the IRS, and if you haven’t started filing your taxes already, you’re probably starting to look around for the best and cheapest...
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