There’s Always Room for Growth

There's Always Room for Growth

Last month, an article “Ending America’s Slow-Growth Tailspin” by economist John H. Cochrane was featured in the Wall Street Journal. The author is a senior research fellow at the Hoover Institute – a large research think-tank out of Stanford University. This article is incredibly important because it plainly states what I have been saying for [...]

File Your Taxes For Free!*


It is hard to believe that yet another year has passed and we find ourselves in 2016, ready to file our taxes for the previous year. Whether you eagerly anticipate this time of the year because you will get a large refund, or dread this time of the year due to a large tax bill [...]

Time to Pick the Low Hanging Fruit


How We Do Year-End Tax Planning While the official tax day for 2015 is the fifteenth of April, 2016, most of the smart tax planning moves that could potentially save you thousands have to be done by year end. Once the W-2s, 1099s, and other tax forms are printed, it’s generally too late (with a [...]

Income Inequality the Wrong Focus

Shanghai, China

The president has called it the “defining challenge of our time.” And he is not the only one focusing on “income inequality.” A simple Google Trends chart (below) shows how interest in that search term has increased significantly over the past few years. But what disturbs me about the focus on “income inequality” and similar [...]

Piketty’s Wealth Data are Worthless


More and more, Thomas Piketty’s name comes up in the debate on the so-called growing “wealth gap” between the 1% and everyone else. In his new best-selling book, “Capital in the Twenty-First Century,” Piketty argues that capitalism will eventually result in accumulating the wealth of the world into just a few hands to a “potentially [...]

Beware of Letting Your Parents Add You to their Account

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If mom or dad is getting a little older, and needs a little help paying bills and managing their affairs, be careful before you let them add you to their accounts. It might seem like an easy and effective solution to just have your name and/or a sibling’s name added to their banking and investment [...]

Dave Ramsey and the Debt Snowball Strategy


Dave Ramsey is a popular and sometimes controversial personal finance talk show host. He is looked up to by thousands all across the country for his practical advice, and especially for his unique ability to encourage and motivate people to get out of debt. While, of course, we wouldn’t endorse everything Dave–or any other person–says [...]

How to Pay a Zero Percent Tax Rate


Granted, this is not a strategy that everyone will be able to use. But… if you are one of the few who could take advantage of a completely legal way to pay ZERO in taxes, wouldn’t you want to know about it? So now that I have your attention, what am I talking about? Well, [...]

Give Your IRA to Charity and Get a Big Tax Break

giving away your IRA

If you’re over 70 1/2 and have an IRA, you probably already know that you have to take money out of your account each year. IRA owners who fail to do so, can be hit with a whopping 50% penalty, per IRS rules. You probably also know that giving money to charity helps out on [...]

5 Little-Known Tax Traps for Investors


The tax code can be a dizzying place for investors, fraught with tax traps set to trip up the everyday investor. Here are a few of the most common tax mistakes we see ordinary investors making: Capturing short-term gains – Realized gains on stocks/bonds held more than a year get better tax treatment. Long-term capital [...]