Taxes

Calculating & Submitting Your Quarterly Estimated Tax Payments

December 21, 2011
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(Guest Post by David Bakke) As someone who is relatively new to the world of entrepreneurship, I recently began making quarterly tax payments for the first time. Figuring out what to pay, when to pay it, and how to submit your payments is certainly a learning process. Being self-employed has enough of its own difficulties [...]

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The Tax Question: Save, Spend, or Pay Off Debt?

March 23, 2011

If you are getting a tax refund, how will you use it? This year I am receiving a $3512 tax refund.  I know that it is better to receive a tax refund rather than owe money to the government, however this year’s refund was very small compared to my tax refunds in previous years. Considering [...]

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Deductions are the Key to a Tax Refund

March 7, 2011

The best tax advice that I can give to anyone who is filing their income taxes is to get a really good accountant.  Don’t use generic tax services such as H & R Block. Ask your friends, neighbours, and co workers who they file their taxes with.  My accountant was recommended to me by a [...]

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Do I Have To Pay My Taxes?

February 3, 2011

Every year around this time we start to gather our personal information and collect all of our tax slips, in preparation to file our annual income taxes. It completely shocked me to learn that many people don’t file their annual personal income taxes. I can’t imagine why anyone would not file their annual personal income [...]

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The Pros and Cons of Investing in Mutual Funds

September 15, 2010

Everyone’s heard of mutual funds. They’re companies that pool money from many individual and institutional investors to buy and sell a variety of securities and assets, such as stocks, bonds, money markets, real estate, and precious metals. A mutual fund’s holdings are called its portfolio and each investor owns shares, which are a portion of [...]

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Even Celebrities Need to Balance Income With Expenses

August 3, 2010

Hello All, We’ve covered this before, but its worth repeating.   One of the core principles of building wealth is to be sure your expenses don’t exceed your income. This rule holds equally true regardless of your place in society.   As an example, I wanted to include this video of Pamela Anderson. Miss Anderson is well [...]

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Becoming Self-Employed

May 28, 2010
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Have you ever thought about starting your own business? It could be work that you ease into and do on the side while you keep your full-time job. You might consider having a side hustle as a backup plan in case you lose your job. Or it could be just a temporary venture to earn [...]

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How Does Marital Status Affect Your Taxes?

May 20, 2010
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It’s the time of year when couples like to tie the knot. The beautiful weather and flowers in spring and early summer make having an outdoor wedding an occasion to remember. But in all the excitement, it’s easy to forget about tax issues that need to be addressed when you get hitched. What to Do [...]

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Dealing With Higher Taxes in 2010

March 8, 2010

Hi All, Its a bright Monday morning in Americas capital city. While going about your business, you may be wondering about what 2010 has in store for your money. Well, here are some thoughts: Local governments are going to raise taxes and fees. Governments at all levels are running large deficits. Typical efforts to close [...]

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Is the IRS Getting More Aggressive?

March 5, 2010

Hello Folks, This is NOT the year to mess around on your taxes. The word on the street is that the Internal Revenue Service is becoming more aggressive in its collection efforts. Three things: 1) The IRS is hiring up. I talked to my accountant yesterday morning about some real estate related issues. It came [...]

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