Category: 💰 Taxes

This post is Chapter 12 of 14 of the book Keep More of What You Earn — a plain-English guide to US taxes. Nadia’s first year as a freelance marketing consultant went beautifully — $92,000 in client payments, working from her spare bedroom, no boss. Then April arrived. Her tax software delivered the news: $24,700…

This post is Chapter 11 of 14 of the book Keep More of What You Earn — a plain-English guide to US taxes. The Alvarez family is choosing health plans at open enrollment. The PPO costs $320/month in premiums with a $1,000 deductible. The high-deductible plan (HDHP) costs $140/month with a $3,500 deductible. The benefits…

This post is Chapter 10 of 14 of the book Keep More of What You Earn — a plain-English guide to US taxes. Two 25-year-olds start at the same company at the same $60,000 salary. Alex enrolls in the 401(k) on day one: 10% of pay, capturing the full employer match. Jordan means to enroll…

This post is Chapter 9 of 14 of the book Keep More of What You Earn — a plain-English guide to US taxes. The envelope is unmistakable: government seal, “Department of the Treasury — Internal Revenue Service,” your full name in the window. Karen’s hands shake opening it. Inside: “CP2000 — Notice of Underreported Income.”…

This post is Chapter 8 of 14 of the book Keep More of What You Earn — a plain-English guide to US taxes. On April 14th, Robert finally finishes his return. He owes $2,300. “I’ll file the extension,” he tells his wife, “so I have until October to pay.” She stares at him. “That’s… not…

This post is Chapter 7 of 14 of the book Keep More of What You Earn — a plain-English guide to US taxes. Three people, three Aprils. Elena, a barista with one W-2 and the standard deduction, pays $129 for deluxe tax software she didn’t need. Marcus, a freelance photographer with $92,000 in 1099 income…

This post is Chapter 6 of 14 of the book Keep More of What You Earn — a plain-English guide to US taxes. Every filing season, someone asks me some version of: “I’m a homeowner, so I should itemize, right?” Or the reverse: “I rent, so I just take the standard deduction?” Both questions reveal…

This post is Chapter 5 of 14 of the book Keep More of What You Earn — a plain-English guide to US taxes. It’s April 13th. Daniel has his laptop open, tax software loaded, and a growing sense of dread. He has his W-2. He thinks that’s everything. Then the software asks about the freelance…

This post is Chapter 4 of 14 of the book Keep More of What You Earn — a plain-English guide to US taxes. Two sisters, Nicole and Teresa, each earn $55,000. Nicole is single. Teresa is unmarried but raising her 8-year-old son, paying all the household costs herself. When they file, Nicole owes about $4,600…

This post is Chapter 3 of 14 of the book Keep More of What You Earn — a plain-English guide to US taxes. Two neighbors, Luis and Ana, each find a way to cut their tax bill by $2,000. Luis contributes $2,000 to a charity and deducts it. Ana qualifies for a $2,000 tax credit…