Strategies for reducing your tax liabilities
Harley Schwadron started drawing cartoons at the age of eight. However, he reports, “…I never thought I could earn a living at it.” Knowing the odds were against him, he instead got a master’s degree in journalism. After graduating he worked as a reporter for Michigan News Service. However, he never lost his passion for…
Here are links to several of my favorite recent personal finance articles: Warren Buffett Says Investors Should Stick With Index Funds by Trevor Hunnicutt at Fox Business I have long been a fan of index funds, not only for their simplicity but also for their long-term performance. As Nobel Prize winning economist Paul Samuelson states,…
I am not a big gambler. However, I do have enough experience playing nickel slots in Vegas (I am a real high-roller when I do gamble) to have learned that it is easy to get two sevens on a classic three-column slot machine but almost impossible to get three (777) and win the jackpot. This…
The revelation that Donald Trump declared a nearly $1 billion loss on his 1995 tax return has led to taxes being in the news a lot the past week. The biased reporting and false outrage associated with Trump’s declared loss has been something to behold. The fact that The New York Times (who broke the story) The…
One of the questions I get asked the most is which type of retirement account is better, traditional or Roth? The answer varies for different situations, and the best choice for you might change over the course of your life, but I will provide some guidelines with a little help from Yogi. I am…
Make the best of what is in your power, and take the rest as it happens. – Greek philosopher Epictetus (AD 55 to 135) Concern or Control? One of my favorite speakers and authors is Stephen R. Covey (1932 to 2012). In his wonderful book The Seven Habits of Highly Effective People Covey teaches that…
If you’re lucky you will be getting a tax refund check from the Department of the Treasury in the coming weeks. Here are some tips on how best to use your refund to assist you in accomplishing your financial goals: Don’t Spend Your Refund Before You Receive it: Many tax preparers offer loans against your…
