taxes

Borrowers, lenders, and others--beware trusting the government

Having a prosperous country (as opposed to having merely a prosperous elite) depends fundamentally on the rule of law. The system can work adequately well with various sets of rule

Do Americans really want to "Go Dutch"?

I just read a very interesting article by an American expat named Russell Shorto in the Netherlands titled "Going Dutch - How I Learned to Love the European Welfare State". The

What can you do if you cannot afford to pay your taxes

Today is April 15th, also known as the dreaded Tax Day in America. Due to the recession many people may find that they do not have enough money in the bank to pay what they owe. I

AIG employees - Why you should donate your bonuses instead of returning it

Lately many top AIG employees who were targeted by Congress in the $165 million "Bonusgate" incident have returned their bonuses. Some people are still holding out, and in my opin

Ten Great Charities that Deserve Your Dollars This Year

These are difficult economic times, but I'm getting tired of being told to spend my money on stuff, as if my personal saving habits are somehow ruining the economy. Instead of thro

I Love Tax Season (and Why It's Like Christmas)

I have a confession to make: I love tax season. Not just the days when I do my taxes or when I file my taxes or get a chunk of change deposited to my account, but the entire Tax S

The "marriage penalty" of taxes in America - how does it affect you?

It is tax season again, and it seems that every year the tax code in America gets a little more convoluted. One thing in the tax code that has always annoyed me is something calle

101 Tax deductions for bloggers and freelancers

Anyone here like doing taxes? Didn’t think so. We all have to do them; we all have to pay money to Uncle Sam (although some get away with paying much less than others). But as

Will 4.5% mortgage rates jumpstart the housing market?

It seems like everyday the folks in Washington are rolling out a new plan to fix our economy. The Federal Reserve is running out of room to cut their federal funds rate, so now th

How a $700 billion bailout became a $800 billion "rescue plan"

You might have thought that the $700 billion bailout bill seemed a bit excessive. You'll be relieved to hear that the bill that the President will sign tonight is worth a mere $800

Investment Gains Taxes Increase - The Worst Tax Policy Ever?

Yesterday Paul Michael wrote an article comparing the income tax policies of McCain and Obama and suggested that he would vote for Obama because Obama's tax policy would benefit ev

McCain or Obama? Who’ll be better for your wallet?

I want to keep this factual. This is not an article on who should be the next President, or as these campaigns usually go, who shouldn’t be President. This is a simple presentation

More Tax Credits Coming for Homebuyers?

Yesterday I read a news item that stated the House and Senate are considering another tax benefit for homebuyers and homebuilders. The idea the House is considering is basically g

Should You Choose a Roth 401k or a Regular 401k?

Yesterday I was talking to a friend and he mentioned that his company just started offering the option of investing in Roth 401ks. He was wondering if he should stick with his regu

Is Social Security Just A Grand Ponzi Scheme?

I received my Social Security statement this week and it was a useless piece of paper to me since I do not qualify for retirement benefits yet. I always hear critics of Social Sec

The Gas Tax Holiday; don’t fall for it.

Both John McCain and Hillary Clinton are proposing a new Gas Tax Holiday that will run during the summer months, bringing “much needed relief” at the pumps. But will it? More than

Your stimulus check is on its way!

Wow. I guess pigs may just fly after all. Because, believe it or not, the goverment is actually paying out the economic stimulus checks ahead of schedule. And that means you could

Why You Should Donate a Blood Sucking Timeshare

My parents always told me that buying a timeshare is a bad idea because of the inflated upfront cost and perpetual maintenance and exchange fees the timeshare companies pile on.

Could a Divorce Improve Your Finances?

When I was single, I thought that getting married would reduce my expenses greatly, and after I got married I realized that in some instances

Taxes on irregular income

This is really a non-issue, if you work a regular job:  Your employer withholds taxes.  It's also not much of an issue if you're self-employed and your income is reasonably