NewzCover, Turtle Creek, PA (2025)

01/22/2025

Understand the difference between gross and net pay, and master the calculation of your take-home salary to sharpen financial planning and ease your tax filing process.

Net Pay: Understanding Your Take-Home Salary as Tax Season Approaches
With tax season around the corner, employees are taking a closer look at their earnings to ensure accurate filings and financial planning. A key concept to understand during this period is net pay, which determines the actual amount of money you take home after deductions.

Net pay plays a crucial role in budgeting and financial management, yet many employees struggle to differentiate it from gross pay or fully grasp how to calculate it.

What Is Net Pay?
Net pay is the amount left in an employee's paycheck after payroll deductions are subtracted from gross pay. These deductions typically include federal, state, and local taxes, Social Security and Medicare contributions, health insurance premiums, retirement plan contributions, and any wage garnishments.

For example, if an employee earns $1,200 per week but has $160 in deductions, their net pay would be $1,040.

Gross Pay vs. Net Pay
Gross pay represents an employee’s total earnings before any deductions are applied. This includes regular wages, overtime, and bonuses. Net pay, on the other hand, reflects the money employees take home after all deductions are accounted for.

An example of gross pay would be a $25-per-hour employee working 40 hours in a week, resulting in $1,000 in gross earnings. After deductions, the net pay would be the amount available for spending or saving.

Learn about net pay, gross pay, and how to calculate your take-home salary. Simplify financial planning and tax filings with this comprehensive guide.

01/22/2025

This article explains income tax, its purpose, calculation methods, and its impact on personal and corporate finances in the United States.

What Is Income Tax And Which States Don’t Have It?
Filing taxes can be a complex and time-consuming task, often leaving individuals feeling unprepared as they approach the deadline. Understanding income tax is crucial for managing your finances effectively. Here’s a comprehensive overview of what income tax is, its history, types, and how to calculate it.

What is Income Tax?
Income tax is a levy imposed by governments on earnings from individuals and businesses. It funds public services like education, Social Security, and infrastructure. There are federal income taxes and state income taxes, though not all states require the latter. Taxpayers file annual returns to determine their dues or refunds.

History of Income Tax
Income tax in the U.S. began in 1862 to fund the Civil War, was repealed, and later reinstated in 1913 with the Revenue Act. This introduced Form 1040, still used today. The U.S. employs a progressive tax system, where higher earners pay a larger percentage. Federal tax rates for 2023 and 2024 range between 10% and 37%.

Types of Income Tax
1. Individual Income Tax
This tax applies to wages, salaries, and other earnings. Deductions (e.g., for healthcare or education) reduce taxable income.

Example: If you earn $100,000 and qualify for $20,000 in deductions, your taxable income drops to $80,000.
Tax Credits further lower the amount owed. For instance, a $4,500 credit reduces a $20,000 tax bill to $15,500.
2. Business Income Tax
Businesses pay taxes on profits. The IRS taxes corporations, partnerships, and small businesses. Deductible expenses, like operating costs, reduce taxable income.

3. State and Local Income Tax
Nine states—Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington, Wyoming, and New Hampshire—do not impose personal income taxes. However, states often offset this with higher sales taxes or fewer public services.

Learn about income tax, its purpose, how it's calculated, and its influence on individual and corporate finances in the U.S.

01/22/2025

Burger King and McDonald's are rolling out affordable meal deals, so you can save while enjoying your favorite fast food.

Burger King and McDonald’s Launch Epic Combo Deals
Hold onto your napkins! The fast-food world just got a whole lot more exciting! Burger King and McDonald's are stepping up their game to satisfy budget-conscious customers. Both chains have recently launched promotional deals designed for those looking for affordable meal options.

Burger King spring promotions
Burger King is firing off two enticing combo offers to satisfy those cravings without wrecking your budget. The $5 Duos lets customers pick any two items from a special menu, while the $7 Trios allows patrons to select any three. Choices include fan favorites like the Whopper Junior, Original Chicken Sandwich, and Bacon Cheeseburger, along with classic sides like Medium Fries and Chicken Fries.

Feeling a little extra? Then check out the $7 Trios! That’s right, for just two more bucks, you can grab any three items from the same menu. For those of you who can’t resist fries, you can get your hands on Medium Fries or even 8-piece Chicken Fries. Just remember, these deals are only valid through spring 2025, so get them while they're hot!

But that’s not all! From January 27 to February 2, customers can enjoy $1 Cheeseburger Week for Royal Perks members. This offer allows you to grab a classic cheeseburger for only a dollar through the BK App. Walmart+ members get early access, adding even more excitement!

For more information check out the link below!

Burger King and McDonald's introduce exciting new meal deals for budget-conscious customers. Enjoy affordable combos this spring 2025!

01/22/2025

The article outlines eight essential financial strategies to secure a comfortable retirement, focusing on smart investments and budget management.

Want a Comfortable Retirement? Make These 8 Money Moves!
Preparing for retirement is a crucial step that many individuals overlook until it’s almost too late. As you approach this significant life transition, it’s important to ensure that you are financially and mentally ready for your post-work years. Here are eight recommended financial strategies that can help you secure a comfortable retirement.

1. Calculate Your Cash Flow and Create a Budget
Start by assessing your income sources during retirement. Mark Ziety, a Certified Financial Planner (CFP), suggests tallying your “paycheck replacement sources.” These include:

Steady income: Social Security, pensions, and annuities.
Variable income: Dividends, interest, rental income, or maturing bonds.
Volatile income: Stocks or stock funds.
Deciding when to file for Social Security benefits is critical; your choice affects your monthly check for life. You can begin withdrawals from most retirement plans as early as age 59½, but be aware of Required Minimum Distributions (RMDs) starting at age 72 for certain accounts. Roth IRAs have different rules regarding withdrawals.

Once you understand your income sources, estimate your cash flow and create a budget for retirement. Dana Menard, another CFP, advises living within your “retirement budget” for a while before fully retiring to ensure comfort with your financial plan.

Find out 8 essential financial strategies to boost savings, plan smartly, and achieve financial freedom for a stress-free retirement.

01/22/2025

Trump’s Day 1 Executive Order reinstates biological s*x in U.S. policies, restricting transgender rights and dismantling DEI programs.

‘Only Two Genders’: Trump’s Bold Shift in Federal Policy Sparks Debate
On January 20, 2025, Donald Trump took office as the 47th President of the United States, swiftly signaling a shift in U.S. government policies on gender identity. One of his first actions in the Oval Office was to sign a sweeping Executive Order that would redefine the official stance on gender, abolishing the "self-assessed" gender identity framework established during the previous administration.

The newly signed order mandates that government documents, including passports, will now reflect biological s*x rather than self-assessed gender identity, a move that President Trump claims restores “biological reality” and undermines what he calls “radical gender ideology.” The order also addresses transgender individuals in the prison system, marking a significant reversal of policies implemented under the Biden administration. It will now prohibit biological men from being housed in women’s prisons, a controversial issue that has garnered considerable debate in recent years.

For more information check out the link below!

Trump's Day 1 Executive Order mandates biological s*x in government documents and restricts transgender rights, sparking national debate.

01/22/2025

With the 2025 tax season approaching, here’s what you need to know about key tax changes and how they’ll affect you.

2025 Tax Changes: How They Will Impact Your Wallet
It's important to understand the major changes to U.S. tax law that will go into force as the 2025 tax season draws near. These adjustments, primarily stemming from the expiration of provisions from the Tax Cuts and Jobs Act (TCJA) and new IRS regulations, will impact millions of taxpayers across the country. Here’s a breakdown of what you need to know to prepare for the upcoming tax season.

Individual Income Tax Rates
One of the most notable changes is the reversion of individual income tax rates to 2017 levels. The highest marginal tax rate will increase from 37% back to 39.6% for single filers earning over $400,000 and joint filers earning over $450,000. This shift means that any income above these thresholds will be taxed at a higher rate, leading to an increased tax burden for high earners.

Additionally, the tax brackets themselves will be adjusted. The lower brackets, including the 12%, 22%, and 24% rates, will revert to 15%, 25%, and 28%, respectively. This change will likely push more taxpayers into higher tax brackets as their incomes increase.

Learn the key changes to U.S. tax laws in 2025. Learn how new rates, deductions, and credits will affect your finances and tax planning.

01/22/2025

Discover how federal tax credits can lower your tax bill, from refundable to nonrefundable options and maximize savings this tax season.

How Federal Tax Credits Can Help Reduce Your Tax Bill?
As tax season approaches, many Americans find themselves navigating a maze of forms, deductions, and jargon. One key term that often confuses is "federal tax credit." While it sounds simple, understanding how federal tax credits work and how they differ from tax deductions can be essential to minimizing your tax liability.

What is a Federal Tax Credit?
A federal tax credit is a direct reduction of the taxes you owe to the government. Unlike tax deductions, which reduce your taxable income, a tax credit is subtracted directly from the amount of tax you owe, providing a dollar-for-dollar reduction in your tax bill.

For instance, if you owe $4,500 in taxes and qualify for a $2,000 tax credit, your tax bill would drop to $2,500. This type of benefit is designed to help reduce the financial burden on taxpayers and support various sectors of the economy, such as education and family care.

Learn how federal tax credits work, including refundable, nonrefundable, and partially refundable options. Maximize your savings before filing taxes.

01/21/2025

Explains executive orders, their legal basis, purpose, historical usage by presidents, and their impact on American governance and policy.

President Donald Trump wasted no time in asserting his presidential authority by signing a series of executive orders shortly after taking office on January 20, 2025. Using a Sharpie pen, he signed a significant number of executive directives, many of which he had previously promised to implement. Among these actions were the declaration of a state of emergency at the southern border and the pardon of approximately 1,500 individuals charged in connection with the January 6 insurrection at the U.S. Capitol.

Key Executive Orders Signed
During a rally at Capitol One Arena in Washington, Trump announced, “I’ll revoke nearly 80 destructive and radical executive actions of the previous administration.” This statement set the tone for his administration's approach to U.S. governance. Some notable executive orders signed included:

Designating drug cartels as foreign terrorist organizations.
Deploying troops to the southern border.
Withdrawing the U.S. from the Paris Climate Agreement and the World Health Organization.
Halting the enforcement of a ban on TikTok for 75 days.

In addition to these new orders, Trump revoked nearly 80 executive orders issued by former President Biden, which focused on areas such as climate change, lowering prescription drug prices, and protecting federal lands from oil drilling.

Learn what executive orders are, their purpose, legal authority, history in U.S. governance, and how presidents utilize them to shape policy.

01/21/2025

Advocates sue Trump administration over an executive order challenging birthright citizenship, citing constitutional violations and immigrant rights protections

Lawsuit Challenges Trump’s Birthright Citizenship Executive Order
The Trump administration faces legal backlash for its executive order challenging birthright citizenship, a principle enshrined in the U.S. Constitution. Immigrants’ rights advocates, led by the ACLU, have filed a lawsuit claiming the order violates constitutional protections and undermines fundamental citizenship rights. The case has sparked a significant birthright debate, raising questions about the implications of such a policy change on equality and human rights.

For more information check out the link below!

A lawsuit challenges Trump's executive order on birthright citizenship, questioning its legality and impact on immigration policy in the U.S.

01/21/2025

Elon Musk’s hand gesture at Trump’s event sparks comparisons to a N**i salute, but the ADL defends it as a moment of enthusiasm. Musk dismisses criticism.

Billionaire Elon Musk's hand gesture during his speech at a celebration marking President Donald Trump's inauguration has sparked online controversy, with some observers drawing comparisons to a N**i salute. However, the Anti-Defamation League (ADL), a leading tracker of antisemitism, defended the gesture, suggesting it was an expression of enthusiasm rather than a symbol of hate.

During his appearance at the Capital One Arena in Washington, Musk received a warm reception from the crowd, which cheered as he pumped his arms and exclaimed, "Yesssss." Speaking to the audience, Musk declared, "This was no ordinary victory. This was a fork in the road of human civilization. This one really mattered. Thank you for making it happen! Thank you.

As Musk spoke, he gestured emphatically by biting his bottom lip and thumping his right hand over his heart, fingers spread wide. He then extended his right arm upwards at an angle, palm down, and fingers together. Turning to face the crowd behind him, Musk repeated the same gesture.

"My heart goes out to you. It is thanks to you that the future of civilization is assured," he said as he completed the gesture.

The hand movement quickly garnered attention on social media, with some users drawing comparisons to the infamous N**i salute. The Jerusalem Post even asked, "Did Elon Musk Sieg Heil at Trump's inauguration?"

In response to the criticism, Musk dismissed the accusations as a "tired" attack, asserting that the gesture was nothing more than an awkward moment of enthusiasm. On his social media platform X, Musk wrote, "Frankly, they need better dirty tricks. The 'everyone is Hi**er' attack is sooo tired."

Elon Musk’s hand gesture at Trump’s inauguration celebration is scrutinized online, with some comparing it to a N**i salute. The ADL defends the gesture.

01/21/2025

President Trump grants pardons to 1,500 charged in the January 6 Capitol attack, igniting fierce debate over accountability and justice in America.

In a move that has shocked many, President Donald Trump announced sweeping pardons on January 20, 2025, for around 1,500 individuals connected to the January 6, 2021, assault on the U.S. Capitol. This action occurred on Trump’s first day back in office, demonstrating his commitment to his supporters while igniting a national debate about accountability and justice.

The pardons cover a wide scope of charges, including serious offenses like assaulting law enforcement officers and seditious conspiracy. This decision marks a stark reversal from the Justice Department's ongoing efforts to hold those involved in the Capitol riot accountable for their actions. Many of the pardoned defendants include members of extremist organizations such as the Proud Boys and the Oath Keepers. Notably, Enrique Tarrio, the former leader of the Proud Boys, had received a 22-year sentence for seditious conspiracy before Trump’s announcement.

Trump has remarked that he views these individuals as “political prisoners.” He stated, “These are the hostages, approximately 1,500 for a pardon, full pardon.” He believes they have been treated unfairly for their roles in the events of January 6. His administration is not only issuing pardons but is also directing the Attorney General to seek dismissals for around 450 ongoing cases related to the riot. This move complicates the already challenging efforts to address the legal fallout from the attack on democracy.

For more information check out the link below!

President Trump pardons 1,500 individuals involved in the January 6 Capitol attack, provoking a major backlash over accountability and justice in America.

01/21/2025

Will Howard’s journey from injury and uncertainty to leading Ohio State to a national championship showcases resilience, hard work, and the will to compete.

Will Howard, Ohio State’s star quarterback, never imagined he would one day lead the Buckeyes to a national championship. Yet, just days before the College Football Playoff National Championship game, Howard reflected on his improbable journey to the top.

“If you were to ask a 19-year-old or 18-year-old Will Howard if he'd be at Ohio State playing in the national championship, I think he'd probably say, ‘You're crazy, man,’” Howard said ahead of the title game against Notre Dame at Mercedes-Benz Stadium in Atlanta.

Howard’s path to greatness was anything but typical. As a junior at Downingtown West High School in suburban Philadelphia, he emerged as one of the top quarterback recruits in the country. However, his promising season was abruptly cut short when he broke his arm, a setback that threatened to derail his football future. For most, a significant injury like that would feel like the end of the road, but for Howard, it was merely a challenge to overcome.

Fast forward to his time at Kansas State, and Howard faced another daunting challenge. In 2023, Nebraska’s Adrian Martinez transferred to Kansas State, leaving Howard's position as the starting quarterback in question. Howard, determined to compete, sought clarity from the coaching staff. He and his mother, Maureen, met with Mike Milano, his high school coach, to discuss his options.

“We came out of that meeting, and he just decided, ‘Hey, I'm going to go back to K-State, and I want to hear them tell me, ‘Hey, this is going to be an open competition,’” Milano recalled. “That’s all I want, is a chance to compete.”

Will Howard overcame injuries and setbacks to lead Ohio State to a national championship, proving the power of perseverance and determination.

NewzCover

01/22/2025

01/22/2025

01/22/2025

01/22/2025

01/22/2025

01/22/2025

01/22/2025

01/21/2025

01/21/2025

01/21/2025

01/21/2025

01/21/2025

Address

Website

Alerts

Contact The Business

Shortcuts

Share

Category