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 […]
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, […]
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 […]
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) […]
“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 […]
“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 […]
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 […]
To tell you the truth, I’ve resisted writing on this subject for some time. There are two simple reasons for this. One is that the topic of depreciation is really rather dry; there is nothing sexy, motivational, not exciting about it. Actually, some would say that it’s flat out boring… Who wants to read a […]