For those with young children, the cost of childcare can feel astronomical. When both of my sons were in daycare, our family spent well over twice as much for childcare each month than we did on our mortgage, an all too common phenomenon in the United States. Fortunately, the federal government recognized that the high cost of childcare can be…
Earlier this year, I wrote an article entitled Strategies to Make Your Charitable Giving Go Further that discussed some of the tax efficient ways to donate to your favorite charities. Included in the article were strategies that were only available for the 2020 and 2021 tax years, such as the charitable deduction for those who do not itemize. Despite what…
Benjamin Franklin is often quoted for his statement, “Nothing can be said to be certain, except death and taxes.” What Ben Franklin did not expound on, however, was that just because taxes are certain, does not mean that they are not everchanging and will not present plenty of uncertainty. Our country’s tax system is a key component in how society…