Archive for the ‘Taxes’ Category

529 Accounts and Tax Fairness

529 Accounts and Tax Fairness

By The Banker | Blog Posts, Inequality, Investing, Personal Finance, Taxes

President Obama recently announced a series of tax changes he will propose or at least politically push for in the coming year. Since the US Congress constitutionally controls the power of taxation, and Congress likes Obama as much as I like Pete Carroll’s Seahawks, I understand that Obama’s priorities may not come to pass any [&hellip

The New Yorker on Housing and Mortgage Subsidies

The New Yorker on Housing and Mortgage Subsidies

By The Banker | Blog Posts, Inequality, Personal Finance, Taxes

I can’t say there’s anything particularly new in James Surowieki’s New Yorker article on the various ways we subsidize home ownership vs. renting, but taken as a whole he provides a great starting primer and review of the arguments. I mean, don’t get me wrong, home ownership is awesome for some – even for many [&hellip

Worst San Antonio Financial Idea of 2015: Bringing Raiders to Town

Worst San Antonio Financial Idea of 2015: Bringing Raiders to Town

By The Banker | Blog Posts, Taxes, Texas

A version of this post appeared in the San Antonio Express News Are you ready for my first nomination for San Antonio’s Worst Financial Idea of 2015 Award? “What? So soon,” you say? “We just started the year!” Yes, but I’ve resolved against procrastinating in the New Year, and this idea clearly needs highlighting. Are [&hellip

The New MyRA - From the Department of Bad Retirement Ideas

The New MyRA – From the Department of Bad Retirement Ideas

By The Banker | Investing, Personal Finance, Taxes

The federal government – following an idea proposed during Obama’s January 2014 State of the Union address – will role out a new simplified IRA plan later this year, designed as a starter retirement account, known by the catchy name MyRA. Geared to lower- and middle-income earners, the accounts will have the following features: 1. Automatic deduction [&hellip

The Good Old Days of Filing Income Taxes - 1948 Edition

The Good Old Days of Filing Income Taxes – 1948 Edition

By The Banker | Blog Posts, Personal Finance, Taxes

For Throwback Thursday, the first day of Spring, and just three weeks until income tax returns are due, I offer up this vintage 1948 Federal income tax for 1040. My friend – whose grandfather worked in the steel industry in Youngstown, OH – found his old tax return and thought Bankers Anonymous readers would get [&hellip