Changing The 401K Tax Deduction
The number one rule of economics is that people respond to incentives. Incentives are set up by individuals, businesses, and governments to get people to do something. When it comes to saving for...
View ArticleHow the Average Family Can Pay No Federal Income Tax
This year I will pay no federal income tax. I think for the median family this is something that is entirely possible to do. Although it does take a lot of effort that the average family may not be...
View ArticleContribute to IRA and HSA after Filing Your Taxes
As long as you have an IRA or HSA that was established in the previous tax year you can make contributions for that tax year up until April 15th, tax day, of the following year. But what if you’ve...
View ArticleReduced Property Taxes
Last Friday we received our yearly property tax assessments in the mail. Usually these show the value and thus the taxes on the property going up every year. Imagine my surprise when I saw that they...
View ArticleLower Interest Rates on Michigan Delinquent Property Taxes
In most states if you don’t pay your property taxes when they are due, the county will take your property. In Michigan you have to skip payment for three years before they will seize your property and...
View ArticleIncrease Retirement Savings Plan Fairness
One day last week I came across an article in the USA Today comparing the pensions of the top 100 CEOs to the retirement savings of average americans demonstrating a deep divide. The capitalist in me...
View ArticleYou Can’t Legislate Prosperity
I say it all the time, “The Number 1 rule of economics is people respond to incentives.” Anytime legislation is passed that requires employers to do something in regards to its employers the employers...
View ArticleSetting Up My Betterment Account
I finally signed up for a Betterment account earlier this month. I’ve wanted to start one for a while, but I wanted to wait until I had enough cash flow and a solid enough bank buffer to be able to...
View ArticleAvoiding An Obamacare Penalty
It’s tax time and many supporters of Obamacare are now waking up to realize that the government take over of the health care system is costing them hundreds, if not thousands of dollars. I am...
View ArticleHow To Win A Property Tax Appeal
When I purchased the railroad property behind my house last year one of the major problems I encountered was the high property tax assessment. The property was assessed at $7,600 which is half the...
View ArticleHow To Use A Principal Residence Exemption To Lower Property Taxes
In the State of Michigan property taxes are vastly different for primary residences and other properties. Primary residences are exempt from an additional 18 mil school tax. Depending on the other...
View ArticleUnderstanding The Michigan Homestead Property Tax Credit
I am a big fan of tax credits, but what I don’t like is when they are made unnecessarily complicated…like this one. If you can figure out the ins and outs of this tax credit, it is possible to save up...
View ArticleGet A Mortgage Credit Certificate Before Buying A House
You MUST do this before buying a house: Look into Mortgage Credit Certificates (MCCs) in your area. The MCC is a VERY little known about program that can provide a $2,000 tax credit per year (and in...
View ArticleLiving Large on $30,000 A Year, How Moderate Earners Can Get Ahead
Over the last decade Mrs. C. and I have increased our earnings substantially. During our first five years together, from 2005 – 2009 we averaged $30,000 per year. During this time we had 1 kid the...
View ArticleSave 50% On Your Property Taxes
The Easiest way to save 50% on property taxes (or more) is to research the property tax rates areas have before moving. In my county alone there are 86 different permutations of what your tax rates...
View ArticleThe Government Pays Me: How I Save Thousands On Federal Income Tax
I have never received food stamps, or medicaid for myself, or cash assistance, or housing subsidies, but the Federal governments social engineering programs have benefited me greatly and I have...
View ArticleHow Donald Trump’s Tax Plan Will Affect You
It isn’t very often that a President is able to fully realize his or her tax plan, which is usually a good thing. The Bush tax cuts passed 15 years ago still have a profound affect on most American...
View ArticleHow To Balance The Federal Budget
The United States has not balanced the federal budget since 2001, in fact the federal budget was only balanced for 1998, 1999, 2000, and 2001 since 1970! Also, in every one of those years the budget...
View ArticleBenton Harbor Just Passed A City Income Tax
I lived in Benton Harbor city for 2 years then I lived in a house on the city line for 6 years. currently I live less than 5 miles from the city limits. Benton Harbor is home to the world headquarters...
View ArticleHow To Calculate Your Taxes In 2018
I do a lot of planning for my taxes, so much so that it feels obsessive at times. A few years ago I made a tax planning spreadsheet that allowed people to compare side by side different tax scenarios....
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