[surveyor]

pretax deductions, maximizing capital gains treatment, home tax and mortgage deductions?

Isn’t that a lot of tax advantages already? Most people don’t even do itemized deductions on their taxes. They just file a 1040EZ and that’s it.

But even within the pretax deductions, there are quite a few deductions available – daycare and healthcare spending accounts, 401k deductions, even transportation deductions like bus and trolley fares (some companies do have these reimbursements).

If you have a side business (not for wage slaves, obviously), you can access the home office deduction (available whether or not you own your home), and the associated deductions for utilities, property taxes, office expenses, and (big one) home office depreciation.

There are also the college savings accounts, the Roth IRA’s, the Regular IRA’s.

But back to our original topic:

Alarmclock: I agree that learning more about the tax code as it stands now is a great idea. I did say: “there is no political will to make such a change” — this is code for “Let’s everyone put on your imagination hats”. I’m just playing a game of “SimUS” (like SimCity)…

Learn more about the tax system first and maybe you’ll see how badly your current argument is. As you can see above, there are many tax avoidance methods and they are available to everyone. If you look at the tax code, you will find that wage slaves are the most heavily taxed (their income is relatively easy to track). The tax code encourages a certain amount of risk taking and entrepeneurship by allowing you access to more tax benefits through small businesses and investments.

For myself, I would like to change the tax code as well, but your method thoroughly destroys what made the U.S. of A. great – entrepeneurship, rewarding of risk taking, and personal success through work ethic, ability, and ambition.

[surveyor]

pretax deductions, maximizing capital gains treatment, home tax and mortgage deductions?

Isn’t that a lot of tax advantages already? Most people don’t even do itemized deductions on their taxes. They just file a 1040EZ and that’s it.

But even within the pretax deductions, there are quite a few deductions available – daycare and healthcare spending accounts, 401k deductions, even transportation deductions like bus and trolley fares (some companies do have these reimbursements).

If you have a side business (not for wage slaves, obviously), you can access the home office deduction (available whether or not you own your home), and the associated deductions for utilities, property taxes, office expenses, and (big one) home office depreciation.

There are also the college savings accounts, the Roth IRA’s, the Regular IRA’s.

But back to our original topic:

Alarmclock: I agree that learning more about the tax code as it stands now is a great idea. I did say: “there is no political will to make such a change” — this is code for “Let’s everyone put on your imagination hats”. I’m just playing a game of “SimUS” (like SimCity)…

Learn more about the tax system first and maybe you’ll see how badly your current argument is. As you can see above, there are many tax avoidance methods and they are available to everyone. If you look at the tax code, you will find that wage slaves are the most heavily taxed (their income is relatively easy to track). The tax code encourages a certain amount of risk taking and entrepeneurship by allowing you access to more tax benefits through small businesses and investments.

For myself, I would like to change the tax code as well, but your method thoroughly destroys what made the U.S. of A. great – entrepeneurship, rewarding of risk taking, and personal success through work ethic, ability, and ambition.

[surveyor]

pretax deductions, maximizing capital gains treatment, home tax and mortgage deductions?

Isn’t that a lot of tax advantages already? Most people don’t even do itemized deductions on their taxes. They just file a 1040EZ and that’s it.

But even within the pretax deductions, there are quite a few deductions available – daycare and healthcare spending accounts, 401k deductions, even transportation deductions like bus and trolley fares (some companies do have these reimbursements).

If you have a side business (not for wage slaves, obviously), you can access the home office deduction (available whether or not you own your home), and the associated deductions for utilities, property taxes, office expenses, and (big one) home office depreciation.

There are also the college savings accounts, the Roth IRA’s, the Regular IRA’s.

But back to our original topic:

Alarmclock: I agree that learning more about the tax code as it stands now is a great idea. I did say: “there is no political will to make such a change” — this is code for “Let’s everyone put on your imagination hats”. I’m just playing a game of “SimUS” (like SimCity)…

Learn more about the tax system first and maybe you’ll see how badly your current argument is. As you can see above, there are many tax avoidance methods and they are available to everyone. If you look at the tax code, you will find that wage slaves are the most heavily taxed (their income is relatively easy to track). The tax code encourages a certain amount of risk taking and entrepeneurship by allowing you access to more tax benefits through small businesses and investments.

For myself, I would like to change the tax code as well, but your method thoroughly destroys what made the U.S. of A. great – entrepeneurship, rewarding of risk taking, and personal success through work ethic, ability, and ambition.

[surveyor]

Alarmclock:

Instead of daydreaming about changing the tax code to fit your personal situation, maybe you should think about studying the tax code and using it (as it is currently structured) to make you wealthy.

Lots of people want the tax code to change, but it simply isn’t going to happen (if it does change, I guarantee that you will find that it has become even worse). 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?

It isn’t brain surgery – lots of people have used the current system to get ahead and be wealthy and the first thing they did was to look at the advantages of the current situation instead of sitting around complaining that the current system is unfair or trying to find a way to shift the tax burden to someone else.

[surveyor]

Alarmclock:

Instead of daydreaming about changing the tax code to fit your personal situation, maybe you should think about studying the tax code and using it (as it is currently structured) to make you wealthy.

Lots of people want the tax code to change, but it simply isn’t going to happen (if it does change, I guarantee that you will find that it has become even worse). 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?

It isn’t brain surgery – lots of people have used the current system to get ahead and be wealthy and the first thing they did was to look at the advantages of the current situation instead of sitting around complaining that the current system is unfair or trying to find a way to shift the tax burden to someone else.

[surveyor]

Alarmclock:

Instead of daydreaming about changing the tax code to fit your personal situation, maybe you should think about studying the tax code and using it (as it is currently structured) to make you wealthy.

Lots of people want the tax code to change, but it simply isn’t going to happen (if it does change, I guarantee that you will find that it has become even worse). 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?

It isn’t brain surgery – lots of people have used the current system to get ahead and be wealthy and the first thing they did was to look at the advantages of the current situation instead of sitting around complaining that the current system is unfair or trying to find a way to shift the tax burden to someone else.

[surveyor]

Alarmclock:

Instead of daydreaming about changing the tax code to fit your personal situation, maybe you should think about studying the tax code and using it (as it is currently structured) to make you wealthy.

Lots of people want the tax code to change, but it simply isn’t going to happen (if it does change, I guarantee that you will find that it has become even worse). 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?

It isn’t brain surgery – lots of people have used the current system to get ahead and be wealthy and the first thing they did was to look at the advantages of the current situation instead of sitting around complaining that the current system is unfair or trying to find a way to shift the tax burden to someone else.

[surveyor]

Alarmclock:

Instead of daydreaming about changing the tax code to fit your personal situation, maybe you should think about studying the tax code and using it (as it is currently structured) to make you wealthy.

Lots of people want the tax code to change, but it simply isn’t going to happen (if it does change, I guarantee that you will find that it has become even worse). 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?

It isn’t brain surgery – lots of people have used the current system to get ahead and be wealthy and the first thing they did was to look at the advantages of the current situation instead of sitting around complaining that the current system is unfair or trying to find a way to shift the tax burden to someone else.

[surveyor]

Hassle

Marion, Rustico is absolutely right, in order to get rich, you have to put up with some hassle. Whether it means living in a duplex or having to put up with landlord issues, getting rich is not an easy path. That’s why many people don’t do it. They have so many reasons – well I have to take care of my kids, well I have to work I don’t have time to get another job, etc. You have to put in the time, effort, and research.

Btw, you don’t have to be a landlord to be able to invest in real estate. It’s helpful, but it’s not necessary.

For me, I’m a great big fan of multi-tasking. Do your day job, take care of it, but have a side operation of real estate where it can basically run itself, and then you revisit it every so often to make sure it runs right.

You also asked about running a franchise operation. I took a look into that awhile ago, but if you think real estate is a hassle, that franchise idea is worse. Real estate doesn’t require as much attention as that. Basically you just bought yourself a job. And with the economy tanking, as you have mentioned, why would you start such a business?

[surveyor]

Hassle

Marion, Rustico is absolutely right, in order to get rich, you have to put up with some hassle. Whether it means living in a duplex or having to put up with landlord issues, getting rich is not an easy path. That’s why many people don’t do it. They have so many reasons – well I have to take care of my kids, well I have to work I don’t have time to get another job, etc. You have to put in the time, effort, and research.

Btw, you don’t have to be a landlord to be able to invest in real estate. It’s helpful, but it’s not necessary.

For me, I’m a great big fan of multi-tasking. Do your day job, take care of it, but have a side operation of real estate where it can basically run itself, and then you revisit it every so often to make sure it runs right.

You also asked about running a franchise operation. I took a look into that awhile ago, but if you think real estate is a hassle, that franchise idea is worse. Real estate doesn’t require as much attention as that. Basically you just bought yourself a job. And with the economy tanking, as you have mentioned, why would you start such a business?

[surveyor]

Hassle

Marion, Rustico is absolutely right, in order to get rich, you have to put up with some hassle. Whether it means living in a duplex or having to put up with landlord issues, getting rich is not an easy path. That’s why many people don’t do it. They have so many reasons – well I have to take care of my kids, well I have to work I don’t have time to get another job, etc. You have to put in the time, effort, and research.

Btw, you don’t have to be a landlord to be able to invest in real estate. It’s helpful, but it’s not necessary.

For me, I’m a great big fan of multi-tasking. Do your day job, take care of it, but have a side operation of real estate where it can basically run itself, and then you revisit it every so often to make sure it runs right.

You also asked about running a franchise operation. I took a look into that awhile ago, but if you think real estate is a hassle, that franchise idea is worse. Real estate doesn’t require as much attention as that. Basically you just bought yourself a job. And with the economy tanking, as you have mentioned, why would you start such a business?

[surveyor]

Hassle

Marion, Rustico is absolutely right, in order to get rich, you have to put up with some hassle. Whether it means living in a duplex or having to put up with landlord issues, getting rich is not an easy path. That’s why many people don’t do it. They have so many reasons – well I have to take care of my kids, well I have to work I don’t have time to get another job, etc. You have to put in the time, effort, and research.

Btw, you don’t have to be a landlord to be able to invest in real estate. It’s helpful, but it’s not necessary.

For me, I’m a great big fan of multi-tasking. Do your day job, take care of it, but have a side operation of real estate where it can basically run itself, and then you revisit it every so often to make sure it runs right.

You also asked about running a franchise operation. I took a look into that awhile ago, but if you think real estate is a hassle, that franchise idea is worse. Real estate doesn’t require as much attention as that. Basically you just bought yourself a job. And with the economy tanking, as you have mentioned, why would you start such a business?

[surveyor]

Hassle

Marion, Rustico is absolutely right, in order to get rich, you have to put up with some hassle. Whether it means living in a duplex or having to put up with landlord issues, getting rich is not an easy path. That’s why many people don’t do it. They have so many reasons – well I have to take care of my kids, well I have to work I don’t have time to get another job, etc. You have to put in the time, effort, and research.

Btw, you don’t have to be a landlord to be able to invest in real estate. It’s helpful, but it’s not necessary.

For me, I’m a great big fan of multi-tasking. Do your day job, take care of it, but have a side operation of real estate where it can basically run itself, and then you revisit it every so often to make sure it runs right.

You also asked about running a franchise operation. I took a look into that awhile ago, but if you think real estate is a hassle, that franchise idea is worse. Real estate doesn’t require as much attention as that. Basically you just bought yourself a job. And with the economy tanking, as you have mentioned, why would you start such a business?

[surveyor]

Rustico:

You know, I was tempted to suggest the exact thing you did – that Marion buy a multi-unit, that path being the best possible way for her to get financial independence.

Considering her past posts complaining about landlords, though, I found it too ironic to suggest…

[surveyor]

Rustico:

You know, I was tempted to suggest the exact thing you did – that Marion buy a multi-unit, that path being the best possible way for her to get financial independence.

Considering her past posts complaining about landlords, though, I found it too ironic to suggest…

[Author]

Posts