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If you're living paycheck to paycheck to pay the rent, it's extremely unlikely you're going to have any long-term capital holdings, and therefore it's extremely unlikely you are going to be enjoying any long-term capital gains.
didn't mommy and daddy tell you to save, even 5%? you would not miss 5% of your 500.00 a week income and infested you could be among the top: maybe not 1% but 20 or 30%, or maybe it is time you live in a communistic country?
Well this is interesting and Kiyosaki would probably say I'm nuts.
I'm developing a self-employment income, which Kiyosaki says is taxed at the highest rate (FIT + both halves of FICA taxes), and others say is merely creating your own (fully taxed) job (which for me beats the pants off working a job for someone else).
So I'm seeking to get to the point where I have enough money to buy an asset(s) that throws off passive cash but that takes time..
The write-offs you gain changing from W2 to 1099 should more than offset the extra FICA tax you will be paying.
As to the estate tax, anyone who has enough money to pay it and isn't smart enough to have everything in a trust deserves to lose it. It doesn't take a genius, just a good estate attorney.
The write-offs you gain should more than offset the extra FICA tax you will be paying.
As to the estate tax, anyone who has enough money to pay it and isn't smart enough to have everything in a trust deserves to lose it. It doesn't take a genius, just a good estate attorney.
Exactly. A few minutes with a good attorney is worth every penny.
didn't mommy and daddy tell you to save, even 5%? you would not miss 5% of your 500.00 a week income and infested you could be among the top: maybe not 1% but 20 or 30%, or maybe it is time you live in a communistic country?
Oh. My. God.
Yes, they told me that, but they did not anticipate that I might find myself earning less than half of the 500.00 a week that you so casually assumed. Nobody expected me to be saving and investing on $250 per week.
The write-offs you gain changing from W2 to 1099 should more than offset the extra FICA tax you will be paying.
As to the estate tax, anyone who has enough money to pay it and isn't smart enough to have everything in a trust deserves to lose it. It doesn't take a genius, just a good estate attorney.
And in the end
The write-offs you take
Are equal to the payments you make
And in the end
The write-offs you take
Are equal to the payments you make
Well, you do that long enough and you will set off some red flags. The IRS expects a new business to run at a loss in the beginning, but if it continues for more than 3 years you might find yourself being audited.
"If you drive a car, I'll tax the street
If you try to sit, I'll tax your seat
If you get too cold I'll tax the heat
If you take a walk, I'll tax your feet"
The write-offs you gain changing from W2 to 1099 should more than offset the extra FICA tax you will be paying.
As to the estate tax, anyone who has enough money to pay it and isn't smart enough to have everything in a trust deserves to lose it. It doesn't take a genius, just a good estate attorney.
Well Dems will defend Nancy Pelosi even though she's in the top 1% by saying she has no power to start a bill in the House to increase taxes on the rich.
Harry Reid has power to start a bill (remember the loophole they used to pass the ACA). So bills can start in the Senate. Harry Reid is also part of the 1%. Net worth of top 1% us between 6-8 million. Harry Reid falls into that figure.
Put your money where it's at Dems. Tell your Senate Majority leader to pass a bill to redistribute his own wealth along with others.
Liberal generosity is dependent upon forced redistribution of other peoples money.
Always easiest being generous with other peoples money after all.
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