From the category archives:

Taxes

Billion Dollar Inheritance: Heirs Pay NO Tax – Right or Wrong?

There was an interesting new item the other day (here) on a Billionaire that was able to bequeath his entire fortune of 9 Billions dollars to his heirs and they got to keep it all – not one red cent went to the taxpayers. This is all possible by the “luck” (if you’d call it [...]

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Should I Use the Energy Tax Credit for a New Central Air Unit?

Since I’m always looking to make sound investments with a favorable return on investment to optimize our family’s cash flow, I’ve been considering having a new Central Air unit installed. There’s an energy tax credit (IRS Link) that expires at the end of this year that allows for a full 30% credit on the purchase [...]

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My Effective Tax Rate is Under 5% – That’s Just Wrong

So, my accountant finally wrapped up my various tax documents and for the prominent Federal Tax Return, I was surprised once again to see just how low my Effective Tax Rate is – under 5%. That’s my net tax rate after all deductions, credits, etc. Not that I’m complaining, but the tax system is so [...]

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What’s wrong With THIS Health Care Reform

With a major hurdle cleared this weekend in the Health Care Reform efforts, much attention has been focused on how it’s “historic” and how many people are now going to have healthcare and somehow topics of abortion and and other seemingly tangential issues became deciding factors in who would vote for it. There has been [...]

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6 Reasons You Won’t Go to Finance Hell if You’re Getting a Tax Refund This Year

There are a select few articles that get republished year in and year out that start to become “gospel” in the personal finance world. With tax time approaching, you’re going to see several writers and talking heads on television chastise you for the “free loan” you gave the US government this year if you’re receiving [...]

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401K Loan Rules – Taxes, Interest, Pros and Cons

401k Loan Rules allow for easy access to retirement funds, but is that a good thing? Many employees are unaware that they can take a loan from their 401k account for basically any personal need with very little hassle. There are clear negative attributes to this route, but some situations may warrant considering this option, [...]

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$3,000 Cash for Caulkers Details Revealed

Cash for Caulkers has been rumored to be coming for some time now, but this week, the administration finally unveiled more details on the rebate plan meant to further stimulate the economy. Following the much maligned and fraud-ridden new home buyer tax credits, cash for clunkers and the impending cash for appliances programs, the administration [...]

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Winners and Losers Under Obama’s New Tax Plan

Monday, the administration released their budget plan which was purported to reduce the tax burden on middle-class Americans. There will be clear winners and losers under the plan, so here are the high points: Winners Making Work Pay tax creditÃ¢â‚¬â€$400 for individuals, $800 for a couple filing jointlyÃ¢â‚¬â€through 2011. This was already in place for [...]

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No Good Deed Goes Unpunished – Charitable Giving

When I was a kid, I remember listening to my Dad come home from work and frustratingly relay a story to my mom. For whatever reason, the story stuck with me and I continue to see similar behavior from people that should know better – or if they don’t know better, they should shut their [...]

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