Tax Reform Bills in Congress
The new tax bills in Congress are being vilified as tax cuts for the rich but that's not necessarily true. Let's look at how these proposals would actually affect the high-income earner.
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.
The new tax bills in Congress are being vilified as tax cuts for the rich but that's not necessarily true. Let's look at how these proposals would actually affect the high-income earner.
Whitney Dahle learns that she overpaid her taxes, that she is not actually self-employed, and how to file an amended tax return
Whitney Dahle 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.
WCI, LLC is going to file taxes in 2017 as an S Corp. It will lower our taxes but at the cost of significant hassle.
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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.
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?
Ready to do a Backdoor Roth? Here is how you can make a non-deductible contribution traditional IRA and still get in the back door.
So what did we do to lower our tax bill this year? Well, the biggest factor was far and away contributions to tax-deferred retirement accounts and my HSA. Here is what else we did . . .
Whether to use a service such as Betterment is an individual choice, but I think their introduction of TLH+ makes their 0.15% fee seem reasonable for management of taxable investment accounts.
For high income earners, marginal utility of that income, especially compared with the time and life energy used to obtain it, may go down very rapidly as you move into the upper tax brackets.
Have you ever wondered what is the most tax-efficient way to deduct your vehicle for business purposes? Is it more profitable to deduct mileage or actual expenses?
Medical school may not have taught you about money, but we will.
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