Preparing for Greater Tax Deductions Next Year
In Part 1 of this series, we looked at 7 year-end tax tips to boost your tax deductions and lower your taxable income. In Part 2 we discussed common, everyday expenses that can be itemized in order to reduce your income tax. Now realizing there are many tax incentives [...]
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Millionaire Money Habits
Currently browsing posts found in December2007
Reducing Your Taxes: Part 3 of 3
The Best Business to Start
You’ve finally decided that you’re ready to take the leap and make your dreams come true by starting a business. Now all you need to know is the best business to start to make you a millionaire. What you are about to hear is not going to make you happy and is probably no the [...]
15 Money Pitfalls to Avoid
Building wealth is really pretty simple. Spend less than you make, regularly invest the money you save, reinvest your profits and let compound interest build your wealth for you. Why then are Americans so unprepared for retirement and deeply in debt? Here are 15 common money pitfalls to avoid becoming another case study:
Ignoring Your Personal [...]
Finding Your Million Dollar Idea
Do you ever sit around and try to think really, really hard about the next million dollar idea. And what happens? Usually nothing, right? On the other hand, there are probably a countless number of times that great ideas pop in your head out of nowhere, only to be forgotten latter. Sometimes great ideas seem [...]
Credit Crunch Woes: Getting a Loan Just Got Tougher
Remember the good old days? You find a home or investment property in a booming neighborhood, you get an offer accepted, and you close on your new home, and your average credit score granted you a fantastic mortgage with no hiccups and no questions asked. Finally amateurs could play with the big boys and get [...]
Maximum Allowable 401k Contribution
Managing savings through your company’s 401k has a tremendous number of benefits, but how much can you actually contribute to this retirement plan?
The 401k tax law can be quite confusing. For the most part, your 401k contribution limit depends on the lower of:
Your company’s 401k contribution limit compared to your income. For example, if you [...]
Cash is No Longer King
Jim Cramer mentioned something recently on his CNBC show, Mad Money, that should have resonated with investors. “Cash is no longer king.”
What Does He Mean?
Let’s clarify that Cramer is not referring to the cash in your pocket. Cash for some time has been king because fixed-income, cash investments have offered great returns. These investments [...]