It may sound cliche, but there’s a reason why people often refer to accounting as the language of business – it is. We’d like to extend that definition and argue that, at the individual level, accounting represents the language of financial independence. In the following, we’ll outline what financial independence means and the central role […]
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How To Make Money Pt 2: The 5 Laws of Gold
The short book The Richest Man in Babylon by George S. Clason, is considered the “bible of financial freedom” to many successful people. If you’re not familiar with it, here’s a link to a free pdf version. Not only are the strategies easy to follow, if you add a creative tax strategy on top of […]
5 Things to Remember: Exemptions & Dependents for Tax Year 2017
Most taxpayers can claim one personal exemption for themselves and, if married, one for their spouse. This helps reduce their taxable income on their 2017 tax return. They may also be able to claim an exemption for each of their dependents. Each exemption normally allows them to deduct $4,050 on their 2017 tax return. While […]
How to Make Money Part 3: The Clay Tablets from Babylon
This is the final advice about how to make money, given to you from the classic book The Richest Man in Babylon. The character in the book carves five clay tablets with his plan of how he will secure his financial situation and begin to build wealth for himself. He outlines his plan, lists his […]
Tax Season Updates
To help the tax community track information related to the Tax Cuts and Jobs Act (TCJA), the IRS has created a special page on IRS.gov to highlight provisions of the new law. The frequently updated page will include a “one-stop” listing of new legal guidance, news releases, Frequently Asked Questions, and other information related to […]
Check Your Withholdings Following the New Tax Law
Updated Withholding Calculator, Form W-4 Released; Calculator Helps Taxpayers Review Withholding Following New Tax Law WASHINGTON –The Internal Revenue Service today released an updated Withholding Calculator on IRS.gov and a new version of Form W-4 to help taxpayers check their 2018 tax withholding following passage of the Tax Cuts and Jobs Act in December. The […]
