Monthly Archives: May 2013

It Makes Perfect Sense that the Rich Benefit More from Deductions!

The Los Angels Times recently reported that the richest households are getting the majority of "tax breaks" and deductions built into our tax code.  Their article is based on a CBO Report titled, The Distribution of Major Tax Expenditures in the Individual Income System. First thing is first, I think it reprehensible that a non-partisan group (can't really blame a newspaper) counts a lower tax bracket as a "tax expenditure."  Taxing someone at a lower dividend or capital gains rate is not a tax expenditure.  I even have a problem with calling a tax deduction an expenditure because it isn't! It is [...]

By | 2013-09-26T14:51:26+00:00 May 30th, 2013|Taxes|5 Comments

Is There Really a Difference Between Opportunity vs Necessity Entrepreneur

I had never heard of the terms Necessity and Opportunity Entrepreneur until a recent CNBC article titled, "US Entrepreneurship Reaches a 14 Year High" by Heesun Wee.  Mr Wee interpreting a Babson Report states, During the depths of the recession following the 2008 financial crisis, Americans who were frustrated with not being able to find work took the bold step of opening their own small businesses. It was a bittersweet accomplishment for many new moms and pops, who became known as necessity entrepreneurs. Now five years later as the recovery gains traction, new data shows the tables have turned. Instead of necessity-driven new businesses, [...]

By | 2014-05-31T15:10:27+00:00 May 27th, 2013|Business|3 Comments

Completed My First Short Term Financial Goals and My New Set of Short Term Financial Goals

Since selling my first home and moving into my second earlier this year I had noticed that I haven't been as focused when it came to goals regarding my finances, so I knew had to come up with a plan.  The idea, while not perfect, was to create short-term financial goals that would keep my attention (a hard task) and excite me to allocate funds. My First Set of Short Term Financial Goals My first set of financial goals were simple enough: Deposit $3,000 to my dividend investment fund Get my Home improvement fund up to $1,000 Pay $500 towards my student [...]

By | 2013-09-26T14:51:26+00:00 May 23rd, 2013|Personal Situation|0 Comments

Why is Everyone Attacking Apple For Overseas Profits Not Being Taxed

I can't figure out why the media and the masses are angry with Apple for legally not paying additional taxes.  I am not an Apple guy (for a few reasons), but I think planning for income taxes is a fantastic move on their part.  You have no patriotic duty to pay more taxes than what is legally mandated so why would Apple? One of my favorite quotes from law school on the subject is from Judge Learned Hand (yup, real name) in Helvering v. Gregory (1934), Anyone may arrange his affairs so that his taxes shall be as low as possible; he [...]

By | 2013-09-26T14:51:26+00:00 May 21st, 2013|Taxes|11 Comments

Quality vs Quantity over Time? Which Do You Choose

A lot of personal finance bloggers always carve out a special exception for purchasing quality or premium items. For example, you'll read something along the lines of "I bought an apple laptop because it is a quality product and it will last me forever." When it comes to certain items I just don't get that line of thought. Quality vs Quantity over Time - Laptops I am not a fan of apple products, but I am going to put my distaste aside for a moment and just pretend it is a better product.  Even if it is a better product, the guts [...]

By | 2013-09-26T14:51:26+00:00 May 20th, 2013|Random|5 Comments