Glossary
Money Order, Explained Simply
A prepaid, hard-to-bounce paper payment for smaller amounts when a check won't do.
Glossary
Glossary
Self-Employment Tax, Explained Simply
Self-employment tax is the full 15.3% Social Security and Medicare bill you cover yourself.
Glossary
Tax Credit, Explained Simply
A tax credit cuts your bill dollar for dollar, making it stronger than a deduction.
Glossary
Tax Deduction, Explained Simply
A deduction lowers the income you are taxed on, and its worth scales with your bracket.
Glossary
Taxable Income, Explained Simply
Taxable income is the slice of your income the tax rates actually touch, after deductions.
Glossary
Adjusted Gross Income (AGI), Explained Simply
AGI is your total income minus top-of-the-return adjustments, and it gates your tax breaks.
Glossary
Spousal IRA, Explained Simply
How a working spouse can fund retirement for a spouse with little or no income.
Glossary
Annuity, Explained Simply
A contract that turns your savings into guaranteed income you cannot outlive.
Glossary
Solo 401(k), Explained Simply
A high-limit retirement plan for a one-person business, where you contribute twice.
Glossary
SIMPLE IRA, Explained Simply
A low-cost small-business retirement plan with a built-in employer match.
Glossary
SEP IRA, Explained Simply
A big-limit, low-paperwork retirement account for the self-employed and small shops.
Glossary
Title Insurance, Explained Simply
Protection against hidden legal problems in a home's ownership history.