The new tax code is a year old now and people will see the results of it in their tax returns the next few months. High income non-business owners living in states with high income and property taxes may not find themselves too happy with what they see, but for the rest of America it is definitely a tax cut. Today I explain the difference between economic, revenue and earnings recessions. Also:

• How to approach tax free savings vehicles Roth IRA and 401k

• Financially surviving divorce