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Variable life insurance is a hybrid product that offers tax benefits. But it carries some added risk. Photo: David Hilowitz

The subject of variable life insurance brings to mind a fake “Saturday Night Live” commercial for a product called Shimmer. In the spoof, Dan Aykroyd and Gilda Radner play a married couple arguing about whether Shimmer is a floor wax or a dessert topping; they ultimately agree it’s both.

Variable life insurance is a hybrid that, like Shimmer, serves two distinct purposes.

Solar power is an increasingly affordable option for homeowners — and it’s not only about roof panels anymore. Photo: Jon Callas

The U.S. solar industry now employs nearly 174,000 Americans, according to a recent study from The Solar Foundation. That represents a jump of nearly 22% in a single year. And it means solar employment grew nearly 20 times faster than the national average employment growth rate.

Similarly staggering growth is predicted for 2015, with more than half of all solar jobs in installation. All of which begs the question: Is residential solar power usage finally becoming more mainstream in the United States?

An annual income of $65,000 would put you in the 25% tax bracket if you’re single. But that’s not the whole story. Photo: 401(k)

There is a good reason so many people seek professional help with preparing their income taxes. It’s because the tax is complicated, and at the heart of the convoluted system are tax brackets.

Federal income tax rates are divided into seven brackets that are based on income and range from 10% to 39.6%. If that was the whole story, understanding federal income taxes would be a breeze –but that’s not the whole story.

How Many Tax Rates Are There?

Let’s start with some scary numbers: Your income will be taxed at more than one of 28 possible tax rates. Now, take a deep breath as we start to unpack the whole thing.

Photo: Phalinn Ooi

Since Jan. 1, my family has been without traditional health insurance for the first time in our lives. Sounds scary, but it wasn’t a decision we took lightly, or one we made voluntarily.

Due to the passage of the Affordable Care Act (ACA), also known as Obamacare, the Anthem plan we had last year was canceled because it didn’t offer the standard benefits required by the new health care law. That meant we would need to purchase a new ACA-compliant plan in our state.