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 »
A permanent tax policy is important for financial stability. With a permanent tax policy, citizens can budget for their greatest consistent liability better. In a previous post entitled, “The Government Encourages Small Business Owners To Fire Employees” I discussed how my friend Zach let go of one of his employees to make room to pay
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Here’s a look at the 2011 income tax rats when Obama was President. President Obama’s State of The Union address was well delivered. He said almost everything right – from restoring spending discipline to improving education to allowing everyone access to affordable health care. The one thing President Obama didn’t say correctly was regarding taxation.
2011 Income Tax Rates: Raise Taxes On Millionaires Not Us Read More »
A tax cut extension was made back in 2010 to help Americans save more money. In 2021, taxes are likely going up to pay for all the deficit spending to counteract the coronavirus. Tax Cut Extension Celebration Hip hop hooray! With House Democrats agreeing to not hold the middle class hostage anymore, the tax bill
What The Tax Cut Extension Means To You Read More »
Senate Republicans blocked the middle class tax cut extension passed by the House earlier in the week. There’s a lot of finger pointing by the Democrats who say that the Republicans are holding the middle class hostage. Is that really the case though? If the Democrats know their bill will get shot down by Republicans
Are Democrats Against A Middle Class Tax Cut Extension? Read More »
When the state of California raised the sales tax by another 1% on April 1, 2009 I was pretty pissed. What kind of government expects their residents to pay a whopping 10% tax on everything they buy? Pedro doesn’t want to pay $200 in taxes on his $2,000 60-inch LCD TV. Nancy shouldn’t have to
How Higher Taxes Saved Me A Boatload Of Money Read More »
