Forum Replies Created
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Raybyrnes
Participantfat_lazy_union
“Are there really that many variables that w-2s wage slaves can really play, beyond just the normal things one does: pretax deductions, maximizing capital gains treatment, home tax and mortgage deductions?”I am currently assiting a family who have a kid getting ready to go to school. Mom works a part time job and dad has a S corp. Household income is 80 k and they are complianing that there is no financial aid for them.
Problem here is that they uneducated and are not going to make an effort to learn. Mom is eligible to put up to 70% of her income into a 401K yet elected not too because the company doesn’t match in the first year of employment. Ask if they could live without the income and the answer is yes. So her making 20 means the she could have packed away 14K therefore reducing AGI
Husband owns a business. Does he have a SEP or SIMPLE. Of course not. So he could set that up and reduce his income. Not only does this reduce current tax liability but now by both of them contributing to their retirement accounts they now can get their income down to around 50K where all of a sudden they qualify for CAL grants for their daughters education and Subsidized stafford loans that are interest free while the kids are in school.
So I would say that even you everyday worker can do a lot for himself or herself. These people benefit becaseu they are frinds and I am knowledgeable on these area. But they could have been doing a lot of this for themselves.
What I don’t like hearing is when people say they are screwed becasue they are middle class, or becaeu they aree white or all the other excuses.
Why not admit I am screwed because I am uneducaated and I am too lazy to turn the TV off for an hour each evening to do a little self study. Spend 1 hour 4 nights a week studying somthind and at the end of a year you will know it pretty well.
Participantfat_lazy_union
“Are there really that many variables that w-2s wage slaves can really play, beyond just the normal things one does: pretax deductions, maximizing capital gains treatment, home tax and mortgage deductions?”I am currently assiting a family who have a kid getting ready to go to school. Mom works a part time job and dad has a S corp. Household income is 80 k and they are complianing that there is no financial aid for them.
Problem here is that they uneducated and are not going to make an effort to learn. Mom is eligible to put up to 70% of her income into a 401K yet elected not too because the company doesn’t match in the first year of employment. Ask if they could live without the income and the answer is yes. So her making 20 means the she could have packed away 14K therefore reducing AGI
Husband owns a business. Does he have a SEP or SIMPLE. Of course not. So he could set that up and reduce his income. Not only does this reduce current tax liability but now by both of them contributing to their retirement accounts they now can get their income down to around 50K where all of a sudden they qualify for CAL grants for their daughters education and Subsidized stafford loans that are interest free while the kids are in school.
So I would say that even you everyday worker can do a lot for himself or herself. These people benefit becaseu they are frinds and I am knowledgeable on these area. But they could have been doing a lot of this for themselves.
What I don’t like hearing is when people say they are screwed becasue they are middle class, or becaeu they aree white or all the other excuses.
Why not admit I am screwed because I am uneducaated and I am too lazy to turn the TV off for an hour each evening to do a little self study. Spend 1 hour 4 nights a week studying somthind and at the end of a year you will know it pretty well.
Participantfat_lazy_union
“Are there really that many variables that w-2s wage slaves can really play, beyond just the normal things one does: pretax deductions, maximizing capital gains treatment, home tax and mortgage deductions?”I am currently assiting a family who have a kid getting ready to go to school. Mom works a part time job and dad has a S corp. Household income is 80 k and they are complianing that there is no financial aid for them.
Problem here is that they uneducated and are not going to make an effort to learn. Mom is eligible to put up to 70% of her income into a 401K yet elected not too because the company doesn’t match in the first year of employment. Ask if they could live without the income and the answer is yes. So her making 20 means the she could have packed away 14K therefore reducing AGI
Husband owns a business. Does he have a SEP or SIMPLE. Of course not. So he could set that up and reduce his income. Not only does this reduce current tax liability but now by both of them contributing to their retirement accounts they now can get their income down to around 50K where all of a sudden they qualify for CAL grants for their daughters education and Subsidized stafford loans that are interest free while the kids are in school.
So I would say that even you everyday worker can do a lot for himself or herself. These people benefit becaseu they are frinds and I am knowledgeable on these area. But they could have been doing a lot of this for themselves.
What I don’t like hearing is when people say they are screwed becasue they are middle class, or becaeu they aree white or all the other excuses.
Why not admit I am screwed because I am uneducaated and I am too lazy to turn the TV off for an hour each evening to do a little self study. Spend 1 hour 4 nights a week studying somthind and at the end of a year you will know it pretty well.
Participantfat_lazy_union
“Are there really that many variables that w-2s wage slaves can really play, beyond just the normal things one does: pretax deductions, maximizing capital gains treatment, home tax and mortgage deductions?”I am currently assiting a family who have a kid getting ready to go to school. Mom works a part time job and dad has a S corp. Household income is 80 k and they are complianing that there is no financial aid for them.
Problem here is that they uneducated and are not going to make an effort to learn. Mom is eligible to put up to 70% of her income into a 401K yet elected not too because the company doesn’t match in the first year of employment. Ask if they could live without the income and the answer is yes. So her making 20 means the she could have packed away 14K therefore reducing AGI
Husband owns a business. Does he have a SEP or SIMPLE. Of course not. So he could set that up and reduce his income. Not only does this reduce current tax liability but now by both of them contributing to their retirement accounts they now can get their income down to around 50K where all of a sudden they qualify for CAL grants for their daughters education and Subsidized stafford loans that are interest free while the kids are in school.
So I would say that even you everyday worker can do a lot for himself or herself. These people benefit becaseu they are frinds and I am knowledgeable on these area. But they could have been doing a lot of this for themselves.
What I don’t like hearing is when people say they are screwed becasue they are middle class, or becaeu they aree white or all the other excuses.
Why not admit I am screwed because I am uneducaated and I am too lazy to turn the TV off for an hour each evening to do a little self study. Spend 1 hour 4 nights a week studying somthind and at the end of a year you will know it pretty well.
January 17, 2008 at 9:14 AM in reply to: Question about Insurance Claims related to San Diego Fires #137148Participant154 to 20 years as an agent and he is telling you to put in a claim. I would sit down and see what he thinks I could claim. He is not going to jeopordise his standing with Allstate by telling you to put in a claim nor is he going to jeoparise his relationship with you. Bottom line is that he sees that there is money set aside for people in your area and he is simply suggesting that your have the option to pick it up.
Lot of value and convenience to having 1 provider for your insurance but if you are knowledgable on insurance there are some good opportunities to reduce your expenses in this area.
I would suggest getting an auto quote from Wawanesa if you do not have any tickets or accidents in the last 3 years. I believe they are beginning to offer homeowners insurance. They are off of friars road and are a reputable company for those who know the insurance industry.
January 17, 2008 at 9:14 AM in reply to: Question about Insurance Claims related to San Diego Fires #137351Participant154 to 20 years as an agent and he is telling you to put in a claim. I would sit down and see what he thinks I could claim. He is not going to jeopordise his standing with Allstate by telling you to put in a claim nor is he going to jeoparise his relationship with you. Bottom line is that he sees that there is money set aside for people in your area and he is simply suggesting that your have the option to pick it up.
Lot of value and convenience to having 1 provider for your insurance but if you are knowledgable on insurance there are some good opportunities to reduce your expenses in this area.
I would suggest getting an auto quote from Wawanesa if you do not have any tickets or accidents in the last 3 years. I believe they are beginning to offer homeowners insurance. They are off of friars road and are a reputable company for those who know the insurance industry.
January 17, 2008 at 9:14 AM in reply to: Question about Insurance Claims related to San Diego Fires #137383Participant154 to 20 years as an agent and he is telling you to put in a claim. I would sit down and see what he thinks I could claim. He is not going to jeopordise his standing with Allstate by telling you to put in a claim nor is he going to jeoparise his relationship with you. Bottom line is that he sees that there is money set aside for people in your area and he is simply suggesting that your have the option to pick it up.
Lot of value and convenience to having 1 provider for your insurance but if you are knowledgable on insurance there are some good opportunities to reduce your expenses in this area.
I would suggest getting an auto quote from Wawanesa if you do not have any tickets or accidents in the last 3 years. I believe they are beginning to offer homeowners insurance. They are off of friars road and are a reputable company for those who know the insurance industry.
January 17, 2008 at 9:14 AM in reply to: Question about Insurance Claims related to San Diego Fires #137408Participant154 to 20 years as an agent and he is telling you to put in a claim. I would sit down and see what he thinks I could claim. He is not going to jeopordise his standing with Allstate by telling you to put in a claim nor is he going to jeoparise his relationship with you. Bottom line is that he sees that there is money set aside for people in your area and he is simply suggesting that your have the option to pick it up.
Lot of value and convenience to having 1 provider for your insurance but if you are knowledgable on insurance there are some good opportunities to reduce your expenses in this area.
I would suggest getting an auto quote from Wawanesa if you do not have any tickets or accidents in the last 3 years. I believe they are beginning to offer homeowners insurance. They are off of friars road and are a reputable company for those who know the insurance industry.
January 17, 2008 at 9:14 AM in reply to: Question about Insurance Claims related to San Diego Fires #137450Participant154 to 20 years as an agent and he is telling you to put in a claim. I would sit down and see what he thinks I could claim. He is not going to jeopordise his standing with Allstate by telling you to put in a claim nor is he going to jeoparise his relationship with you. Bottom line is that he sees that there is money set aside for people in your area and he is simply suggesting that your have the option to pick it up.
Lot of value and convenience to having 1 provider for your insurance but if you are knowledgable on insurance there are some good opportunities to reduce your expenses in this area.
I would suggest getting an auto quote from Wawanesa if you do not have any tickets or accidents in the last 3 years. I believe they are beginning to offer homeowners insurance. They are off of friars road and are a reputable company for those who know the insurance industry.
Participant“What most people don’t realize though is that EVERYONE has the capacity to minimize their taxes using the current tax code. It does take a little work, it does take a little study, but isn’t that the exact way to get wealthy?”
Once again surveyor, Right on the money with your comment. Problem with taxes isn’t the codes, it is the fact that it requires mental effort to figure it out. It also requires a little creativity to figure out how to minimise the tax burden.
The ealthy are able to manipulate the system becasue they can afford to pay a specialist to figure this out for them. The specialist does well because once he figures out all the loopholes he simply needs to reapply them to whoever is going to pay his fee.
For the rest of us it requires that we due a lot of leg work early on in the process and then it also requires that we stay abreast of the changes.
I sort of wonder why people will spend a ton of time searching the interenet for a good price on a car yet spend little time learning about taxes. Let’s see, I will buy a car maybe 1 in every 5 years and it represent maybe 5% of my income yet I do not want to learn anbout taxes that hit every year to the tune of 30% or more.
I can’t figure that out.
Participant“What most people don’t realize though is that EVERYONE has the capacity to minimize their taxes using the current tax code. It does take a little work, it does take a little study, but isn’t that the exact way to get wealthy?”
Once again surveyor, Right on the money with your comment. Problem with taxes isn’t the codes, it is the fact that it requires mental effort to figure it out. It also requires a little creativity to figure out how to minimise the tax burden.
The ealthy are able to manipulate the system becasue they can afford to pay a specialist to figure this out for them. The specialist does well because once he figures out all the loopholes he simply needs to reapply them to whoever is going to pay his fee.
For the rest of us it requires that we due a lot of leg work early on in the process and then it also requires that we stay abreast of the changes.
I sort of wonder why people will spend a ton of time searching the interenet for a good price on a car yet spend little time learning about taxes. Let’s see, I will buy a car maybe 1 in every 5 years and it represent maybe 5% of my income yet I do not want to learn anbout taxes that hit every year to the tune of 30% or more.
I can’t figure that out.
Participant“What most people don’t realize though is that EVERYONE has the capacity to minimize their taxes using the current tax code. It does take a little work, it does take a little study, but isn’t that the exact way to get wealthy?”
Once again surveyor, Right on the money with your comment. Problem with taxes isn’t the codes, it is the fact that it requires mental effort to figure it out. It also requires a little creativity to figure out how to minimise the tax burden.
The ealthy are able to manipulate the system becasue they can afford to pay a specialist to figure this out for them. The specialist does well because once he figures out all the loopholes he simply needs to reapply them to whoever is going to pay his fee.
For the rest of us it requires that we due a lot of leg work early on in the process and then it also requires that we stay abreast of the changes.
I sort of wonder why people will spend a ton of time searching the interenet for a good price on a car yet spend little time learning about taxes. Let’s see, I will buy a car maybe 1 in every 5 years and it represent maybe 5% of my income yet I do not want to learn anbout taxes that hit every year to the tune of 30% or more.
I can’t figure that out.
Participant“What most people don’t realize though is that EVERYONE has the capacity to minimize their taxes using the current tax code. It does take a little work, it does take a little study, but isn’t that the exact way to get wealthy?”
Once again surveyor, Right on the money with your comment. Problem with taxes isn’t the codes, it is the fact that it requires mental effort to figure it out. It also requires a little creativity to figure out how to minimise the tax burden.
The ealthy are able to manipulate the system becasue they can afford to pay a specialist to figure this out for them. The specialist does well because once he figures out all the loopholes he simply needs to reapply them to whoever is going to pay his fee.
For the rest of us it requires that we due a lot of leg work early on in the process and then it also requires that we stay abreast of the changes.
I sort of wonder why people will spend a ton of time searching the interenet for a good price on a car yet spend little time learning about taxes. Let’s see, I will buy a car maybe 1 in every 5 years and it represent maybe 5% of my income yet I do not want to learn anbout taxes that hit every year to the tune of 30% or more.
I can’t figure that out.
Participant“What most people don’t realize though is that EVERYONE has the capacity to minimize their taxes using the current tax code. It does take a little work, it does take a little study, but isn’t that the exact way to get wealthy?”
Once again surveyor, Right on the money with your comment. Problem with taxes isn’t the codes, it is the fact that it requires mental effort to figure it out. It also requires a little creativity to figure out how to minimise the tax burden.
The ealthy are able to manipulate the system becasue they can afford to pay a specialist to figure this out for them. The specialist does well because once he figures out all the loopholes he simply needs to reapply them to whoever is going to pay his fee.
For the rest of us it requires that we due a lot of leg work early on in the process and then it also requires that we stay abreast of the changes.
I sort of wonder why people will spend a ton of time searching the interenet for a good price on a car yet spend little time learning about taxes. Let’s see, I will buy a car maybe 1 in every 5 years and it represent maybe 5% of my income yet I do not want to learn anbout taxes that hit every year to the tune of 30% or more.
I can’t figure that out.
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