The consequences for not paying your taxes have varied pretty wildly over the last several decades in the United States. Tax evaders were once literally be incarcerated for fairly low level tax delinquencies, but on the other end of the spectrum, hundreds of thousands of dollars of debt are sometimes just wiped clean if they’re not collected within a 10 year statute of limitations.
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Paying off a 30 year home mortgage must feel incredibly liberating. Decades of effort have finally paid off leaving you with a huge increase in cash-flow and sense of accomplishment. And that’s certainly true, especially if you don’t take another loan, but that doesn’t mean you should be paying off your house faster than the amortization schedule.
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The major problem with this proposal is that we’re no longer talking about the mega-wealthy here, this hurts middle class investors who don’t make the majority of their earnings from investments but want access to private equity. The vast majority of Regulation D (private equity, rather than public stock) offerings are made to accredited investors. Further, these investments are typically not highly liquid…
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In my position as a tax compliance specialist in an investment firm, I actually spend a lot of time thinking about the tax implications of investments. So, I wanted to share some of the insights I’ve gleaned over the years and evaluate the strengths and weaknesses of some of the most tax efficient investments.
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There are numerous, readily apparent benefits to working from home: the ability to design your ideal work environment, avoiding a long commute and the increased freedom, just to name a
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There are typically two schools of thought when it comes to the prospect of owning a rental property: It’s either a no-brainer, or inherently a nightmare. It’s not surprising that
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Most casual investors aren’t aware that they could own real estate in an IRA, HSA and even some 401Ks. Not just the ability to access real estate through REITS, IRAs can actually hold tangible rental real estate. Though typically riskier (and demanding more time and expertise) than a broadly diversified mutual fund portfolio, owning rental properties, private equity, or even a business within your retirement accounts is a secret that…
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My experience buying health insurance in the United States has been frustrating. In 2014 I had two options: I could pay my portion of an employer-sponsored healthcare plan or shop around
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Every year about 40 Million Americans wait in giddy anticipation for their end-of-year bonus, their income tax refunds. You might say to yourself, “I’m going to treat myself this year by
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Resolving tax debt, no matter the size, should be a top priority. Aside from gangland loan sharks, there’s no one worse to owe money to than the government. Penalties and interest on
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As a tax consultant I have clients from all walks of life. I work with people just scraping by on social security income, as well as business clients making tens of thousands of
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