Retirement accounts qualify for special tax treatment by the IRS. A common retirement account is a 401k, where pretax dollars from you, which are often matched by your employer, are deposited into an account and allowed to grow tax-deferred. These funds are designed to create income during retirement and are subject to premature distribution penalties […]
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By transferring a traditional IRA into a self-directed IRA, the IRA owner can invest in private businesses and in real estate as well as traditional sources
Using a Self-Directed IRA to Fund Your Business Read More »
Many would-be entrepreneurs have money tied up in retirement plans like IRAs or 401ks that could be used to fund their businesses. Many simply believe they can’t access these funds until they reach the age of 59.5 without being subject to a premature distribution penalty. That being said, there are a few ways that you
Retirement Account Funds New Business Read More »
Wealth can be defined as a measure of one’s assets in the form of cash and equivalents as well as the market value of ones physical and intangible assets. These assets are accumulated during one’s lifetime with after-tax income. Therefore, the current use of graduated income tax rates, which applies to ones earned income, interest
Graduated Income Tax Accelerates Wealth Divide Read More »
Income tax is paid on a company’s Net Profit which is the amount that is left over after you subtract your COGS, business operating expenses and allocations.
Business Income Tax – What You Need To Know Read More »
Taxing the rich reduces the relative incentives and encourages more coasters. In school, smarter people should not get a harder test simply by the virtue that they work harder than the slackers that do not study. We should reward people for risking their personal capital to start a business that creates employment. Rewarding lucky risk
Is Taxing The Rich Sound Economic Policy? Read More »
With the federal deficit out of control, at some point, the government will need to raise tax revenues through tax increases or tariffs if for no other purpose but to pay off the interest of the debt. Levying more taxes on individuals, or more accurately voters directly is political suicide. Perhaps politicians will get more
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When Robert Kiyosaki of “Rich Dad Poor Dad” fame said, “It is not how much money you make but how much you get to keep,” he was talking about TAXES. As a business owner, you get to claim business expenses that employees do not. For example, if you use a cell phone to make yourself
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