Financial Education & Advocacy
Purposeful Finance attempts to improve financial literacy and advocate for more consumer-focused financial services through articles distributed through Apple News, our website, and other outlets. In addition to financial education and guidance, we actively support a fiduciary legal standard of care for consumers and minimizing questionable practices such as presenting commissioned sales of financial products as ‘advice'.
Articles are written to provide education on personal finance topics and help consumers advocate for themselves with the financial services industry. For example: after the massive Equifax data breach, Purposeful Finance published step by step directions on how to opt out of the Equifax arbitration clause.
Recently Published Articles
Federal taxes are progressive taxes, meaning you start getting taxed at a low rate, then, as you earn more money, the additional money you earn is taxed at a higher rate. The way the calculation works, everyone pays the same . . . .
The key difference between the Married Filing Separately verses the Filing Single status is if you are legally married on the last day of the tax year (December 31st for most people). No other day during the year matters for . . . .
The Head of Household filing status is a special status which offers preferential tax brackets for some single individuals. The brackets are between the Single filing brackets and the Married Filing Jointly brackets . . . .
Probably the best way to deal with this would be to see if the social group has a religious purpose or in some other way falls under the church’s charitable purpose. If so, the church can establish a new bank account . . . .
Don't assume this year's taxes and tax deductions will be similar to last year's taxes. The tax reform bill, which passed in December 2017, gutted most of the deductions and maimed many of the rest. Just like characters in . . . .
The Standard Deduction is the amount every taxpayer can deduct from their income, and with the changes to the tax law, more taxpayers than ever will now be taking the Standard Deduction. A lesser known fact about the Standard Deduction, however, is it can be increased for those over age 65 or who are blind.
The IRS has announced the 2019 income tax tables and other adjustments for inflation. Get a jump start on your taxes and plan ahead to lower your 2018 income taxes.
The 2019 inflation-indexed changes gave increases across-the-board for all retirement accounts, including workplace retirement plans and Individual Retirement Accounts (IRA). Here are the maximums you can contribute to your retirement accounts in 2019.
The end of last week saw a stock market drop which has many spooked. Words like ‘market crash’, ‘historic drop’, and ‘recession’ abound and many are selling their investments in fear of a massive downturn. Here are the 4 things you can do to keep the market downturn from ruining your financial plan.
While it currently only applies to one company, the IRS has opened the door for companies to being offering an employee benefit whereby workers have an opportunity to both pay down student loan debt and save for retirement with the same dollars.