I just got done with two things: 1) Writing a check for another $1,000 more in taxes to the Federal Government for 2011, and 2) Re-reading the article, “The Average Percent Of Income Donated To Charity Can Improve“. Hopefully all of you are on pace to finish doing your taxes before the April 17th deadline.
Forget about filing an extension and putting off paying your taxes. Do it now!
Several things I’ve learned from doing my taxes:
* I paid almost as much in taxes as I’ve saved. In fact, most of my friends, and probably most of you have paid MORE in taxes than what you’ve saved, since most people don’t save more than 20% of their gross income, let alone 55% of their after-tax income. Go ahead, make the calculation and start vomiting.
* The amount of total taxes I paid in 2011 could buy a nice 4 bedroom McMansion in the MidWest or a Lamborghini Gallardo. With the money left over from the Lambo, I could pay for five friends to go to Vegas for a week. We’d stay in suites at the Aria Hotel and reserve a private booth each night at Tao with an endless flow of Crystal, Ron Zacapa, and Goose. And here I am, a total fool trying to keep my credit card spending below $1,500 a month so I can save more for retirement and build more financial security. I might as well live it up since the government is living it up with my money! Read more…