A temporary payroll tax cut extension or a temporary tax cut anything is a mistake. The important issue to understand is what people do with their money during a temporary tax cut. If you know that a tax cut is temporary, you aren’t going to spend your tax savings because you know a tax hike […]
Understand Why A Temporary Payroll Tax Cut Extension Is A Mistake Read More »
The debate rages on whether the top income earners who pay most of the federal taxes or the bottom 47% who pay little-to-none of the federal taxes, should pay more taxes and help our country. Clearly, the answer is that everybody should pay some federal taxes, since everybody is benefiting from the federal government. Have
Are The Top 1% Getting Screwed The Most? Read More »
No matter how long it takes, I will fight for equality. I want to explain why bar stool economics shows why a progressive tax system is wrong. The best system for taxation equality is providing a flat tax above a certain poverty level or income level so that everybody pays something to support our country.
Bar Stool Economics Shows Why A Progressive Tax System Is Wrong Read More »
When it comes to making money, perhaps it’s best to trust rich people more. After all, if you’re about to have heart surgery, you’d rather have an experienced surgeon operate rather than a first year resident perform the operation. If you’re looking for some entrepreneurial advice, you’d rather pay $300 to listen to Ron Conway,
When It Comes To Money, Shouldn’t We Trust Rich People Who’ve Been Poor? Read More »
Conducting a cash-out mortgage refinancing is a way to lower your tax bill. And we all want to lower our taxes! You should defer or shield as much income as comfortably possible until retirement to minimize your present tax bill. The odds of your retirement income equaling your working income is slim-to-none. Therefore, your retirement tax
Cash-Out Mortgage Refinancing As A Way To Lower Your Tax Bill Read More »
Ever wonder how long does it take to become a millionaire? The answer depends based on your education, income, effort, career, and luck. In my case, it took a little over six years to become a millionaire after college because I landed a good job in finance and saved over 50% of my after-tax income.
How Long Does It Take To Become A Millionaire? Read More »
I recently had a really long conversation with a reader who asked me for advice on what to do about his ailing father who is in debt. Helping out a father in need isn’t always straight forward. I have some opinions here and really want to help, but I’m no lawyer or tax accountant. So perhaps
Helping Out A Father In Need: Family Is Always First Read More »
In good old fashion political jockeying, the House finally agreed to a budget and unknown to many, they also passed a Renters Tax! The idea is for all Americans to participate in our simple tax system and shore up our huge deficit. The new law states that starting October 1, 2011 all renters shall pay
The Government Passes A Renters Tax! Time To Pay Up Read More »
For the first time in my income earning life, I plan on spending my tax refund on something fun in 2017. Every time I did get a tax refund I would just put it away in savings or pay down debt. That’s pretty boring, especially since I’m already a saving fiend, spending only 30% of
Blowing My Tax Refund On Life Read More »
Is it better to do your own taxes or hire a CPA accountant? Despite what many have advised, I’ve been doing my own taxes for the past 15 years. Along the way, I’ve cocked things up. For example, one time I forgot to report the cost basis to over $1 million dollars worth of stock
Do Your Own Taxes Or Hire An Accountant? Read More »
