What the heck is a ‘fiscal cliff’? Here’s what you need to know

On March 1, the first installment of the fiscal cliff will be passed.If the bill passes, a two-year tax cut for the wealthiest Americans will expire, cutting the annual tax cut to around $3,400 for households making $250,000 or less.The tax cut will remain in effect through 2025.That means that the first $500,000 households will […]