Taxes
Roth IRA or Traditional IRA-Which is Best?
First, you should determine if you are qualified to contribute to either. You may contribute to either traditional or Roth IRAs only to the extent you have earned income includible in gross income. Read more →Royalty Tax Payments in Franchising Agreements
As many government agencies attempt to collect more tax revenue some have decided to tax royalty payments of franchisors who have franchise outlets within their jurisdictions. Read more →S Corporations Can Reduce Self-Employment Tax
As a sole proprietor, 100% of your profits are subject to self-employment taxes. The self-employment tax is 15.3% of all profits up to $94,200 (for 2006). Read more →Sale Of A Personal Residence - The New Rules
Based on comments and questions I have received from clients and readers it appears that there is still some confusion about the rules for taxing gain on the sale of a personal residence. Read more →Sales Tax: What It Is And How It Is Imposed?
A sales tax is a tax that is placed on the purchases of goods or services. The federal government does not have a national sales tax. Qualifying products or services are only taxable by a particular state government. Read more →Save Money on Taxes - Double Your Income Now With Tax Saving Tips on Deductions
Adding Your First Additional Stream of IncomeMost new wealth builders currently have a full-time job. After realizing that means ?Just ----Over Broke? they commit to quitting their job and starting their own business. Read more →Save Money on Taxes - Is the Only Way to Get Your Tax Savings is to Sleep With an IRS Agent?
Tilting the Tax Laws in Your Favor.In order to accelerate your movement along the wealth building curve, you absolutely MUST have your own business. I don? Read more →Save Money on Taxes - Let Uncle Sam Pay for Your Fun!
"Deducting Meals and Entertainment"O.K. You?ve been working really hard on these lessons. Now its time for some fun. Are you with me? Imagine if you could spend time with friends, eating, drinking and seeing shows and your company could foot the bill? Read more →Save Taxes Using the Section 179 Deduction
A taxpayer who conducts an active trade or business can save income tax with the Section 179 deduction. Section 179 of the Internal Revenue Code allows a business to deduct immediately the cost of tangible, personal property that the business purchased and placed in service in a trade or business. Read more →Save Taxes with a Health Savings Account
A taxpayer who is covered by a high-deductible health insurance policy may establish and contribute to a health savings account (HSA). The contributions the taxpayer makes are deductible in calculating adjusted gross income, so a taxpayer does not have to itemize deductions on Schedule A of Form 1040 to receive the deduction. Read more →← Previous Next →
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Aphorism
In investing, rely on the ordinary virtues that intelligent, balanced human beings have relied on for centuries: common sense, thrift, realistic expectations, patience, and perseverance.
John Bogle