12 Things I Learned From Doing My Own Taxes — Kid’s Corner
Whitney had to pay taxes this year for the first time. So I figured she should do her own taxes. And that she should write a post about it. Don't worry, she was well-paid to do so.
The more you know about the US tax code, the more opportunities you will find to live a tax-efficient life and save money in the process. You should feel proud to pay every dollar you owe in taxes, but you shouldn’t leave a tip.
Whitney had to pay taxes this year for the first time. So I figured she should do her own taxes. And that she should write a post about it. Don't worry, she was well-paid to do so.
I paid a lot of taxes for 2016. But the IRS, Turbotax, and a knowledge of the tax code at least helped minimize the amount of time I had to spend doing so.
Tax strategists do more than prepare returns. They help you to change your financial life in ways that lower your tax burden. Here's what happened when I met with one.
Schedule A is no big deal, unless you've never done it before. But understanding it goes a long way toward understanding our tax code.
Between 2011 and 2015, WCI quadrupled his income, yet his effective tax rate has only gone up from 16% to 25%. Here's how he does that.
Enroll in WCI Financial Boot Camp, a FREE 12-week email course to improve your financial life.
You can unsubscribe anytime using the link at the bottom of any email.
Need more tax-protected space? Consider giving part of your business to your spouse. Be sure to select the right amount of income to minimize the Social Security tax cost while maximizing the benefits.
Most docs realize the tax system is progressive. But do they realize that the health care system, the education system, and their own family is also?
Active real estate investors qualify for many unique tax breaks, some of which require you to be a "real estate professional" to get. Learn how to qualify, and also about deductions you can take without qualifying.
Many people don't realize that there are huge tax breaks available on both your current home and your second home. The home office deduction, however, probably isn't one of them.
Using a Section 105 Plan you can write off your employee's medical expenses. If you're careful, you might be able to write your own off as well.
Taxes should be a primary and ongoing focus of every investor. Read this for ideas to minimize the effect of taxes on your portfolio.
Retire Secure, by CPA/JD James Lange, is the best financial book I have read in the last year. I recommend you buy it and read it. However, it is not the first financial book you should read. But afte...
[FOUNDER'S NOTE BY DR. JIM DAHLE: Many high-income professional investors first learned about the Backdoor Roth IRA on this site. One of my most popular posts is the tutorial on the process. In the le...
Each of the last three years I have done a post about taxes where I "revealed" the tax rate I'm paying. I'm not sure why people find that so interesting (voyeuristic maybe), but I've had a bunch of re...
Medical school may not have taught you about money, but we will.
We will never sell your information. Modify your preferences or unsubscribe at any time.
Get ready to take control of your financial life. You can do this, and we can help.
We won't sell your information. Modify your preferences or unsubscribe at any time.
