2022 Tax Reference Guide
Congress’ approval in December 2017 of the Tax Cuts and Jobs Act (TCJA) produced some of the most significant changes to the nation’s tax system in decades by reducing individual rates for taxpayers at several income levels, increasing standard deductions, and cutting the corporate tax rate. These changes affected income earned [...]
Bad News About Qualified Investing
•401k’s will be taxed on your gains. •IRA’s will be taxed on your gains. •Mutual funds will be taxed on your gains. •Individual stocks will be taxed on your gains. •Bonds will be taxed on your gains When? At the worst possible time in your life! •At retirement: when you need them most! •At [...]
Don’t Pay Off Your Mortgage, Increase it! Bigger is Better!
Refinance Case January 2015 Example: $325,000 Home No Mortgage Property Taxes $1,035.00 & Home Owner’s Insurance Coverage/ Umbrella $309.00 monthly. Previous accelerated mortgage payment $2,100.00 Refinance: New mortgage $240,000 maintains 26.12% equity (no pmi) 25 year loan, 4% fixed interest rate, monthly payments $1,266.81 The rate of Return on Equity: Where to [...]
INSANITY
Doing the same thing over and over and expecting different results. This is how people or the Baby Boomers have been doing it and it hasn’t worked. Insanity has been a pattern for the past 28 years, especially for the Baby Boomers and it hasn’t worked. They are working longer, and yet stock market performance [...]