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 | Comments Off
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). [...]
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 [...]
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