Some people have told me they plan to retire abroad if Donald wins. Others have said they’ll just stop working so much if Hillary gets elected. Will you be doing anything differently if Hillary or Donald gets elected now that Donald is going to be the POTUS for the next four years? I’m curious to know whether […]
How Does Your Financial Life Change After The Presidential Election? Read More »
Can someone please give us a rational argument why implementing a Flat Tax system in America is not fair? We don’t know if we can continue posting without thoroughly understanding this issue first. From a percentage basis, each person pays an equal amount of their income towards taxes, and from an absolute basis, richer people
We’re Ignorant Idiots! Please Tell Us Why A Flat Tax Is Not Fair Read More »
Do you want to avoid paying taxes? Most of us do. Let’s look at how one company legally found a way to avoid paying taxes through a complicated company holding structure. “Take money from your right pocket and put it in your left pocket. Now you have yourself a solution.” – Anonymous One of the
A Beautiful Way To “Legally” Avoid Paying Taxes And A Legal Settlement Read More »
I’ve been doing my own taxes for over 10 years. I didn’t do them when I first graduated college in 1999 because I didn’t know how. Further, DIY tax software wasn’t as easy to use as it is now. But after paying some accountant over $500 to do my taxes one too many years, I
Doing Your Own Taxes Might Make You Change Your Life Read More »
The income limits before tax deductions start phasing out are ~$260,000 for singles and ~$311,000 for married couples according to the IRS in 2019. In other words, after making more than $260,000/$311,000, you won’t be able to deduct the full amount of your mortgage interest and property taxes. You will also be subjected to the
Income Limits Before Tax Deductions Start Phasing Out Read More »
Your goal as a homeowner is to enjoy your home and minimize costs as much as possible. If you can convince the property assessor that you live in a dump, then all the better! Unfortunately, in a rising property price environment, minimizing cost becomes much more difficult due to rising property taxes. When things are going
The Property Assessor Always Wins In A Bull Market – Filing An Appeal Is Useless Read More »
Here are Justice Anthony Kennedy’s words after the Supreme Court voted on June 26, 2015 that same sex couples have a constitutional right to wed. Justice Kennedy was the swing vote. No union is more profound than marriage, for it embodies the highest ideals of love, fidelity, devotion, sacrifice, and family. In forming a marital
Gay Marriage Rights, Financial Benefits, And Tax Penalties Read More »
If you are making a six-figure income or seven-figure income, congrats! It’s a great achievement to earn over $100,000 a year. However, there are tax penalties for high income earners that you should be aware of. For example, you must pay a 6.2% Social Security tax for the first $168,600 as of 2024. Plus, 1.45%
Tax Penalties For High Income Earners: Net Investment Income, AMT, Medicare Read More »
In what could be the most amazing tax move ever, a Georgia woman filed a $94 MILLION tax refund! You have to make over $1.6 billion dollars in income to pay $94 million taxes with Georgia’s 6% state income tax rate. Sure, it’s possible to make $1.6+ billion dollars, but probably not by this woman. So
The Largest Tax Refund Request Ever! Plus Tax Tips For Small Business Owners Read More »
The following is a guest post by FS reader, Jamin Eberhart on your largest ongoing living expense. He received his MBA, worked in biotech and now consults for biotech companies. He is extremely focused on building his freedom fund, and struggles just like me to find the right balance between living it up and being fiscally responsible.
What’s Your Largest Ongoing Living Expense? Taxes Of Course! Read More »
