Kelley R. Taylor

1 day ago | kiplinger.com | Kelley R. Taylor

For many people in the United States, working overtime is a financial lifeline, helping to cover rising grocery bills, unexpected expenses, or simply keep up with the cost of living. Data suggest that almost 25% of workers regularly work more than 40 hours a week, though some studies put that number as high as 40%. While those extra hours can mean a bigger paycheck for some, they often also mean a bigger tax bill since, at the federal level, overtime pay is taxed just like regular wages.

6 days ago | kiplinger.com | Kelley R. Taylor

Retirement is meant to be a time of ease after years of hard work, but for many older adults in the United States, taxes and rising costs make it harder to get by. According to the U.S. Bureau of Labor Statistics, so far this year, food prices have increased 2.5%, rent and housing costs have climbed 4.4%, and health care services have increased by nearly 3%. As if that weren’t enough, almost half of all Social Security recipients owe federal income tax on their Social Security benefits.

1 week ago | kiplinger.com | Kelley R. Taylor

If you have a Health Savings Account (HSA) or are thinking about one, the IRS has announced the new contribution limits for 2026. These annual inflation adjustments are designed to keep pace with rising costs. However, it's worth noting that HSAs might not be right for everyone. So, as you plan your finances for next year, it’s good to know the new limits and the pros and cons of an HSA. Let's dive in. Subscribe to Kiplinger’s Personal FinanceBe a smarter, better informed investor.

1 week ago | kiplinger.com | Kelley R. Taylor

President Trump is at it again with tariff proposals. On his social media platform Truth Social, Trump floated a 100% tariff on all movies produced outside the United States. As you would guess, the post is sending shockwaves through Hollywood and raising alarm bells for moviegoers. While such a tariff wouldn’t impact a movie like Sinners (filmed in the United States), many blockbusters are filmed in international locations.

2 weeks ago | kiplinger.com | Kelley R. Taylor

Retirement often evokes images of leisure, but sadly, we must also consider tax planning. And while federal taxes usually dominate the conversation, state taxes, which can significantly impact retirees on fixed incomes, often fly under the radar. (That's particularly true now, with all the talk of tariffs and 2025 federal tax reform (also known as President Trump's "one big beautiful bill.")So, we're exploring some state tax incentives to help you maximize your retirement savings.