Truth About How to Become Rich

The Truth About How to Become Rich

Becoming rich and financially independent is a complicated thing. Many people spend themselves in search of this end result, but most never even get within sight of it. While I am not yet what you would call “financially independent”, but I am on my way, and likely further along than a lot of my readers. Through […]

How to Be Frugal by Controlling Taxes

How to Be Frugal by Controlling Taxes – Video

I am not sure if this works the same way for you as it does for me, but I’ve noticed that as I gain in age and level of accomplishment my perspective on reality matures. Interestingly, I don’t often discover that I had been wrong about something and now I know better – no. Instead, […]

Podcast with Two Seasoned Real Estate Investors

Do I have a treat for you today…!!! I am not exaggerating when I tell you that finding a podcast host in the real estate investing space who really understands what’s going on in this industry is just as difficult as finding a deal worth buying today. Both deals and podcast are plentiful, but most […]

earned-income-vs-passive-income-vs-portfolio-income

Earned Income vs Passive Income vs Portfolio Income: A Comparison

As you may have derived from the title of this article, not all income is created equal.  In fact, the Internal Revenue Service categorizes income into three broad types, Earned Income, Passive Income, and Portfolio Income.  While passive and portfolio are income is generated via investments, earned income is either employment (W2) or self-­‐‑employment (1099) […]

How to Pay Less Taxes – Advice from the IRS

“Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.” ~Ayn Rand Every year around this time I become keenly aware of the reality that TAXES are indeed one of, if not the biggest drag on my financial life. They cast potentially a lot […]

How to Avoid Capital Gains Tax on Real Estate

“Don’t just learn the tricks of the trade. Learn the trade.” ~ James Bennis One of the biggest drags on our financial lives is the dreaded certainty of TAXES.  It’s true – it’s kind of a bummer when you work hard to make $100 only to be left with $55 worth of spendable income. The […]

How Much Capital Gains Tax Do I Have to Pay

Some time ago I published an article entitled What Is Depreciation in Real Estate. Today I’d like to further consider what impact depreciation has on taxation upon the sale of an asset – the capital gains, by shedding light on the concepts of Cost Basis, Taxable Income, and Capital Gains as they relate to a […]