Don’t Buy A House For The Tax Deduction

Don’t Buy A House For The Tax Deduction

Ok, I know I already wrote a post about how tax deductions are a bad investment, but I think the "mortgage interest" tax deduction deserves its own hate post. Now, I know I will probably get a lot of flak on this one, but I really don't care at this point. So here goes: Radio Ads Not sure if I've said this one before, but I ABSOLUTELY CANNOT STAND RADIO ADVERTISING!!! So, as usual, I found myself driving home and yelling at the radio because that's what perfectly rational people do when they disagree with a piece of electronic equipment. It was an advertisement for buying some sort of custom … [Read more...]

Best Place To Put Your Tax Return Money

Best Place To Put Your Tax Return Money

As tax time comes to a close, many Americans are waiting in anticipation of their tax refunds to hit their bank account (or come in the mail). The average tax return in 2012 was nearly$3000! And though it is tempting to take that money and buy a 108" TV for your 1-bedroom apartment, let me pitch to you another idea that will have FAR more benefit that having life-sized football players running on your wall: USE YOUR TAX RETURN MONEY TO GET A MONTH AHEAD! Why Would I Do That? A few weeks ago, I had readers email me the most awesome news! They had decided to get a month ahead on their … [Read more...]

Tax Deductions Are A Bad Investment

Tax Deductions Are A Bad Investment

Having prepared quite a few tax returns for people, I have seen a largeĀ range of incomes, from those barely making it by to those who are absolutely killing it. I have also seen very unique approaches to money management as well. But a common thread I have found throughout my few years helping people with tax returns is that taxes are frustrating and hard to understand. Taxes Are Complicated The United States tax system is complicated. I remember the first time I went to prepare my tax return on paper, it felt like I picked up a book written in ancient Greek, and I was only able to get … [Read more...]