Taxes

Accurate Passive Income Forecasting Is Vital For Long-Term Happiness

Accurate passive income forecasting is important for tax minimization, better time utilization, stronger mental health, and increased overall happiness. Some passive income investments are harder to forecast than others. In 2020, I made a big mistake by inaccurately estimating my passive income. At the beginning of 2020, I estimated I would earn roughly $70,000 from […]

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The Four Different Ways To Spend Money By Milton Friedman

Back in 2010, I first addressed the four different ways to spend money by Milton Friedman because I was frustrated by how much I was paying in taxes. I was regularly working ~70-hour weeks and faced an ever-higher marginal income tax rate. I was burning out and needed a change. Who knew that two years

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The Best Way To Travel For Free And Lower Your Taxable Income

Travel is amazing, especially when you can travel for free. With the pandemic over and a strong US dollar, traveling abroad during another global financial crisis is not a bad idea. This post will highlight the best way to travel for free and lower your taxable income as well! My Travel Background Since childhood, I’ve

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How To Lower Your Property Taxes: Property Assessors Hurt Homeowners

Curious to learn how to lower your property taxes? You’ve come to the right place. I successfully lowered my property taxes for three years in a row during the 2008-2009 financial crisis. Your property tax bill is one of those pesky ongoing expenses that keeps going up if you don’t take action. As a homeowner,

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States With No Estate Tax Or Inheritance Tax: Be Strategic Where You Reside

If you want to leave your heirs as much money as possible, you should probably die in a state with no estate tax or inheritance tax. If you can’t die in a state with no estate tax or no inheritance tax, then at least die in one that has a very high estate threshold before

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How Much Money Do The Top Income Earners Make?

Ever wonder how much money do the top income earners make? Once you know how much the top income earners make, then you can better shoot to be a top income earner yourself. After all, everything is relative when it comes to money. Americans are rich by world standards. With a median household income of

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Your Beater Car Can Make You A Lot Of Money In Tax Savings Or Reimbursements!

Driving a beater car can make you a lot of money. As a car fanatic who has owned beater cars and luxury cars, let me explain. After writing, Never Buy A New Car In Its First Year Of Redesign, a reader commented that he netted about $17,500 in reimbursements from driving his 2002 economy car roughly 35,000 miles.

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Property Taxes By State – From Highest To Lowest

This post will provide a detailed look into property taxes by state. The differences in property taxes by state from the highest (Illinois at 2.32%) to the lowest (Hawaii 0.28%) is astounding. Although, these are average property tax rates by state because many counties have slightly different property tax rates within a state. Therefore, just

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The Average Percent Of Income Donated To Charity Can Improve

The average percent of income donated to charity by levels of income is sadly very low across the board. According to several of the largest charitable foundations, the average income donated to charity ranges from just 3% to 5% of annual gross income. Not surprisingly, the average percent donated to charity is the highest for

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