Which financial tax records should you hold on to and for how long? The answer is important for a variety of reasons. First, if you keep too much paper it becomes hard to organize and ultimate find documents when you need them. And if you destroy records too early you could end up on the […]
Is Your CPA or Attorney Incompetent?
Your lawyer and/or CPA might be giving super crappy advice without you even knowing it. If so, that could cost you a pretty penny. No bueno. How are you ever going to know if your team members are qualified? It’s not easy. They might even be smart but incapable of giving you the advice you […]
What Are Profitable Investments? Why Most People Get This Wrong.
You may think that it’s easy to know if you are making profitable investments ; if you make money, the investments are successful. If they lose money they are not profitable investments. Right? While this model of performance is generally true, many investors apply this incorrectly and make huge investment errors as a result. Here are […]
5 Overlooked Medical Tax Deductions
It’s getting more difficult to claim medical tax deductions. That’s because you can only claim those tax deductions once they exceed 10% of your adjusted gross income. Last year the threshold was 7.5%. As you can see, the government is tightening the reigns. As a result, you’ve got to do your best to maximize every […]
What Community Property Laws Mean
If you live in Alaska, Arizona, California, Idaho, Nevada, New Mexico, Texas, Louisiana, Wisconsin, Washington or Puerto Rico, you live in a community property state, where community property laws are in effect. These laws govern your personal property and debts. It’s important you understand them even if you have no plans to divorce. That’s because […]
Becoming a Stay-at-Home Mom or Dad — and Affording It
If you are considering becoming a stay-at-home mom or dad, one big issue you have to deal with is a loss of income. Here’s a question I received the other day from Mark: I’m a 25 year old young professional, who is currently renting. If I had to guess, I will probably rent until I […]