Continue reading Chart: Residual Value - Prices of Top Used Cars and Trucks

An update from Autodata Corp. — In October, 838,052 cars and light trucks were sold in the U.S., for a seasonally adjusted annual rate of 10.46 million units. The federal “Cash for Clunkers” program stimulated sales in July and August, cannibalizing September’s demand, which sank to 9.22 million, about half the 17 million unit sales that the industry had enjoyed for the past decade. General Motors is now making business decisions with the assumption that 10 million units will be the new “normal” annual rate for a while.

UPDATE: November numbers are now available. The SAAR for November 2009 was 10.93 million vehicles.

See full size in new window

Continue reading Credit Card Minimum Payments: How Long?

Created to mark the release of the first published comprehensive overview of the brain fitness industry, the SharpBrains Guide to Brain Fitness.

See full size in new window

Continue reading Personal Income Tax Calculation

Continue reading Credit Cards: The Basics

Or, view source Flash movie

What’s the difference between Deductions FOR AGI and Deductions FROM AGI?

I remember sitting in my tax class and hearing this question all the time. Here’s my best attempt at an explanation:

First off - your Adjusted Gross Income (AGI) is the most important number in determining your taxes.

Did you have tuition expenses you were hoping to get back from Uncle Sam? Did you hire a nanny to babysit your kids and want to get some of that money back through the Child-Care tax credit?

A lower AGI means a better chance of being able to answer yes to these and other questions that will lower your taxes.
Continue reading Personal Income Tax: Your Questions Answered