Princeton Asset

Author: WP ADMIN

  • Healthcare costs: IRMAA premiums

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    If you’re enrolled in Medicare, you may have encountered the term IRMAA – the Income-Related Monthly Adjustment Amount. This additional premium can significantly impact your Medicare costs, but understanding how it works and knowing about potential discounts can help you better manage your healthcare expenses. What is IRMAA? IRMAA is an extra charge added to…

  • Healthcare costs: ACA subsidies

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    The Affordable Care Act (ACA) provides health insurance subsidies to help lower-income individuals and families afford coverage. These subsidies are determined based on a taxpayer’s income and the cost of health plans available in their area. Understanding how ACA subsidies work, particularly the role of Modified Adjusted Gross Income (MAGI) and the benchmark silver plan,…

  • Understanding the Child Tax Credit and Other Dependent Credit

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    Navigating the tax system can be complex, but understanding tax credits like the Child Tax Credit (CTC) and the Other Dependents Credit (ODC) can significantly impact your tax bill. This post clarifies these credits, detailing who qualifies and how they work, including the often-overlooked scenario of older, disabled dependents. Child Tax Credit: not only for…

  • Decoding your W2: a guide to understanding your wage and tax statement

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    The W-2 form – is a document we are likely to see at least once a year, but do you truly understand what it all means? This seemingly simple form is a crucial record of your earnings and taxes withheld throughout the tax year. Understanding the different boxes and codes on your W-2 is essential…

  • How to choose the right Tax Filling Status

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    As the tax season approaches, it’s essential to understand the different filing statuses available to you and how they can impact your tax liability. In this article, we’ll break down the five filing statuses: single, married filing jointly, married filing separately, head of household, and qualifying surviving spouse. We’ll also discuss how to choose the…

  • Smart Tax Planning: how our “Income Tax Calculator” can help (01/25 release)

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    Introduction: Tax planning is a critical part of financial success. Whether you’re working, investing, or preparing for retirement, understanding how taxes impact your income is essential. Princeton Asset’s Income Tax Calculator is designed to help users gain deep insights into their tax situation by offering a comprehensive and customizable approach to tax estimation. Key Features…

  • United States: a brief capital gains tax history

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    Introduction: Capital gains taxes, a subject of much debate and often misunderstood, have a long and complex history in the United States. Far from being a static concept, the way we tax profits from investments has changed dramatically over the decades, reflecting evolving economic theories and political priorities. Let’s take a look… Early Days and…

  • United States: a brief income tax history

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    Introduction: Taxes have been a part of the American experience since the country’s inception. From the colonial era to the present day, taxation has played a significant role in shaping the nation’s fiscal policy and economic growth. In this blog post, we’ll take a brief look at the major milestones in the tax history of…