Feb

20

Tipping Cash? Tipping Credit Card?

February 20, 2008 | Leave a Comment

I have heard many people suggest that you should always leave your waitress tips in cash, as opposed to by credit card. This has been the topic of many after-dinner discussions while deciding how to split the check and what is the right amount to tip. For some people it is not a matter of [...]

Feb

14

Teen Prepaid Cards : The New Marlborough Man? Or a Budgeting Tool?

February 14, 2008 | 1 Comment

A common new trend is the Teen Prepaid Card: a card is pre-paid, and a portrayed as a good substitute to an allowance. I think it is useful if used with caution. It is a time-bomb if used without it.
First the pros: Your kid doesn’t has to carry cash, you can transfer [...]

Feb

14

Valentines Choices

February 14, 2008 | 1 Comment

Consumerism Commentary and MyMoneyBlog posted their articles on ways to have a frugal valentines, check them out.
Happy Valentines Day!!
I have my own opinions about the special day. The biggest one is that it benefits retail — just not enough to get us out of this recession (or recession-wanna-be) soon enough. The [...]

Feb

13

The Sneaky Real Estate Tax

February 13, 2008 | 2 Comments

Towns need cash too. They need cash for schools, roads, public services, and social services. They are pressed by two fronts: the socialists: who demand more giveaways by the town to its residents, and inflation: which increases the cost of providing the services for everyone. All that is fine when the house [...]

Feb

7

LLC Partnership Taxes: 1065 and K-1

February 7, 2008 | 1 Comment

A Limited Liability Corporation (LLC) can be treated as an S-Corporation or as a Partnership by the Federal Government Internal Revenue Service (IRS) (you fill out form 8832 to classify it as Partnership). When I established my LLC I made it a Partnership: a very flexible arrangement that allows me to divide the earnings [...]

Jan

16

When It Pays To Take The Long Warranty? – Water Heaters

January 16, 2008 | Leave a Comment

On very few things I get impressed by the warranty ratings. Cars could be one thing. But Water Heaters warranty ratings is definitively one thing I do watch. Blueprint For Financial Prosperity ponders the question about paying double for the water heater with the extra warranty ($755 12 year vs. $355 for the 6 year). [...]

Dec

24

The Arbitrary $200k, and Its Problems

December 24, 2007 | 3 Comments

Many presidential candidates (or potential candidates) talk about raising taxes for those above a certain number, or lowering them for those below a certain number (or both).  They essentially draw a line and separate people in two groups: rich and not-rich.  There are many reasons why I believe this does a dis-service to this country.  [...]

Apr

9

First Work Year – Once In a Lifetime Opportunity

April 9, 2007 | 1 Comment

Many people start their careers a few months after graduation (be it from school or college). Most people complete their degrees in summer, and that makes them very prone to earning half a year worth of salary on the very first year they work. It is not that bad, as they happen to [...]

Apr

9

Got an Audit from the IRS

April 9, 2007 | 4 Comments

And I must say, it is not as painful as it sounds. They did sent a letter requesting more than $28,000 in taxes, interests, and penalties, calculated in a very liberal way. It almost killed my wife out of a heart attack. I took it calmer, even when I didn’t have the [...]

Mar

26

Alternative Minimum Tax Issue

March 26, 2007 | 1 Comment

The middle class families are now complaining about the Alternative Minimum Tax. They are complaining that soon, even families earning $75,000/year will be hit by it. I do complaint about the unfair tax, and I consider myself middle class. However, I have to say this is a case where the middle class [...]

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