By: Roshawn Watson
An estimated 4000 households with incomes >$1 million don’t pay income taxes, and 14,000 households making between $500,000 and $1,000,000 pay no income tax. Of course, these numbers are totally dwarfed by the number of households earning <$100,000 paying no taxes (>99% or >75 million households). Oh the “joys” of our tax code never cease!
21 Ways Rich People Think Differently (Yahoo Finance)
Don’t Spend to Impress – I actually read this after I wrote today’s post, but these words are so truly and directly applicable to your wealth accumulation (The Simple Dollar)
People Want the Real You – Chris reminds us that people want us… not a caricature of ourselves…the authentic us – (Chris Brogan)
Would you live in a 120 square foot home to save money? (Yahoo Finance) – Some sacrifices are just too great!
I love the Jim Collins reference in this practical article Taking Your Family’s Finances from Good to Great (Sound Mind Investing)
Dr. Daniel Crosby gave a great Ted Talk about biases common to people in love and those making financial decisions
Jefferson (editorial assistant by Michelle) breakdown some sad retirement stats for the US in I don’t want to eat dog food when I retire (See Debt Run)
Maria discusses how to determine the level of insurance to carry. Insurance is the kind of thing that everyone hates until they need it. (The Money Principle)
Do you think about your finances like a business? Joe provide some spot-on wisdom about how to fix your get out of debt plan through objective assessment and planning. (Free Financial Advisor)
Lance watches ‘Big Brother’ and weighs the financial implications of appearing on the show
(Money, Life, and More)
Bonus
Andrew talks about a investing in the rail industry (Disclaimer: This was chosen for educational value, as we own NO individual stock)
Yakezie Carnival
http://www.stocktrendinvesting.com/blog/get-work-yakezie-labor-day-carnival
http://financeproductreviews.com/yakezie-carnival-the-fincon12-edition/
Carnival of Personal Finance
Carnival of Personal Finance #377 ( Editor’s Pick )
Carnival of Personal Finance #378 ( Editor’s Pick)
Carnival of Personal Finance #379
Carnival of Personal Finance #380
Festival of Frugality
Festival of Frugality #355 ( Super Editor’s Pick – Entire Carnival Based off of Why We Worry About Money!!!)
really? I have to read this!
Well that's annoying! Hey, thanks for including our post. That was actually Jefferson's, but since I do his editing I guess I deserve a mention as well!
-Michelle
Thanks for including my post! I'm not surprised with as many ways as you can manipulate the tax code. I know, I used to work in a CPA firm.
How the heck did I miss this? Thanks for mentioning my piece with all these great reads. I love the TED video.
How in the world are they getting away with this one? Making a million and no taxes!!! I understand how they lower taxes rates if its investments etc but something still should be paid. I know a lot of people like barbers, hairdresser, etc that dont pay any taxes they dont make millions but they are doing well to say they dont pay taxes.
I'm also wondering that myself, Thomas. How is it that the people who have glaringly huge incomes and net worth can get away without paying the government a single cent?
The government better start cracking the whip on these millionaires. That's a boat load of potential tax money the country is missing out on.
Financial management is duplicate with the financial function of the Accounting profession. However, financial accounting is more concerned with the reporting of historical financial information, while the financial decision is directed toward the future of the firm.