The following post has been completely updated from the original version that appeared on January 25, 2010. Tax-free income at retirement – who wouldn’t want that if they could get it? And you can if your money is invested in a Roth IRA. That’s why Roth IRA conversions are a hot topic. With the Roth, […]
Tax Strategies
A big part of accumulating wealth is to make sure you don’t give it away needlessly. There are a number of provisions in the tax code to help you grow your wealth and reduce tax payments and penalties. These are not complicated. They are not hard to understand or take advantage of. But they are important.
In this category I’ll explain the most important tactics you can utilize to minimize your tax so you can put as much as possible towards building your own future.
Should We Increase Taxes on the Rich
The government is on a desperate search to put as many shekels as it can in its coffer. Is raising taxes on the rich the answer? Most people don’t think so. AP conducted a poll to find out what the best solution was for the deficit problem. 62% think the government should cut spending. Only […]
IRA Roth Conversion Tax – Do This or Else
If you decide that it makes sense to do a conversion to a Roth IRA, you need to pay your IRA Roth Conversion tax the right way if you want to avoid penalties. That’s right. Not only do you have to pay “the MAN,” but you also have to do it the way he tells […]
“Where Is My Tax Refund?” Answered Now
You’re probably just like me. After I’ve paid my taxes on time I want my tax refund ASAP. The good news is that the IRS is finally getting on track. If you want to get a speedy IRS tax refund, here is what you need to do: 1. E-File I read recently that 80% of […]
1040 Online Tax Filing for Free – What’s the Catch?
When it comes to 1040 online tax filing for free, what’s the catch? Have you heard all those commercials for free online tax filing? They puzzled me. How can those companies file taxes for people and charge nothing for their services? On top of that, those guys are paying good money to advertise those services. […]
How to Stop IRS Wage Garnishments and Take Back Your Financial Life
If you need IRS tax debt relief, you might need to know how to stop IRS wage garnishments. That’s because if you owe the IRS unpaid taxes, they can take a bite out of your wages. Of course, this doesn’t happen overnight. The IRS will send you letters for months before this will happen. That’s […]