taxes Archives - Empathic Finance | Mike Pumphrey, AFC®

The Saver’s Credit: Free money for retirement

Posted by Mike Pumphrey on August 2, 2021 | Featured

I talk about The Saver’s Credit, and how some people who might have assumed it wasn’t relevant to them might qualify now. (Nothing in this post should be considered tax advice. Please see my Disclosure Policy.) The pandemic probably changed … Read More … Read More

Tags: retirement, retirement plans, tax credit, taxes

The American Rescue Plan diffuses a student loan tax bomb

Posted by Mike Pumphrey on March 15, 2021 | Featured

The American Rescue Plan signed by Joe Biden makes student loan forgiveness tax-free, which has huge implications for millions of people. Boy, it’s nice to have adults running this country again, isn’t it? Paul Krugman of the New York Times … Read More … Read More

Tags: Joe Biden, student loan forgiveness, student loans, taxes

Should you do your own taxes?

Posted by Mike Pumphrey on February 11, 2019 | Featured

I remember being a kid and watch my dad do the family’s taxes. I remember our dining room table covered and overflowing with various papers and documents. It seemed like he was there for weeks. In the U.S., assuming that … Read More … Read More

Tags: taxes, TurboTax

What’s wrong with an interest-free loan to the government?

Posted by Mike Pumphrey on February 22, 2018 | Featured

Every year, amid the discussion of taxes and rebates and the like, there is usually a talking point that goes like this: “Getting a rebate of any amount is a bad idea, because all you’re doing is giving the government … Read More … Read More

Tags: government, rebates, taxes

Is it possible to pay in advance exactly the amount of tax you owe?

Posted by Mike Pumphrey on February 19, 2018 | Featured

Welcome back to tax season! It’s an interesting time that can seem extremely fraught to some, and a little exciting to others. For some: so much work to do. For others: big rebates! I’m fortunate to be young enough that … Read More … Read More

Tags: taxes

Why everything is like a regressive tax

Posted by Mike Pumphrey on February 15, 2018 | Featured

With all the talk on how to fund our government and the various projects we need to undertake, it’s made me think about that phrase “regressive tax”. As in, “there was no support for that initiative, because it was seen … Read More … Read More

Tags: taxes, tolls

What to do with the extra tax money in your new paycheck

Posted by Mike Pumphrey on January 18, 2018 | Featured

I really tried to avoid talking about the tax plan, and couldn’t help myself. But that was more of a “feelings” piece, and less practical. This article is coming from the other, more practical side. In the U.S., our new tax … Read More … Read More

Tags: paychecks, taxes

Okay, okay, I’ll talk about the tax bill

Posted by Mike Pumphrey on January 1, 2018 | Featured

I’ve been avoiding it. I haven’t wanted to talk about it. I wanted to bury my head under a pillow and forget about the whole thing. But, alas, it’s just too relevant to our work here. So I’m going to … Read More … Read More

Tags: politics, tax bill, taxes

Is there someone at the IRS who’s a math lover?

Posted by Mike Pumphrey on May 25, 2017 | Featured

WARNING: This post contains math. I love math. You know this. I think math is one of our world’s ways of expressing beauty. To me, there are few things more pleasing to the eye than a elegant mathematical statement. (People … Read More … Read More

Tags: logarithms, math, sunflowers, taxes, Tom Hanks

Don’t fear moving to a new tax bracket

Posted by Mike Pumphrey on May 22, 2017 | Featured

Do you know your tax bracket? I’d say a good number of people do. But do you know what happens when you jump up to a new tax bracket? I’d say a good number of people do not. Tax season … Read More … Read More

Tags: income, tax brackets, taxes

taxes