Almost every politician running for president or Congress refers to the alarming growth of the national debt. It is now $23.2 trillion, or $188,000 for each individual taxpayer. For my entire adult life, I’ve heard politicians on both sides of the aisle warning of an economic Armageddon from the growing federal debt. Whether they are […]
Tag Archives | Taxes
The Tax Cut and Jobs Act (TCJA) has generated a lot of media hype, much of which is coming from the extreme wings of both political parties and much of which is simply not true. Here is some perspective.
On July 14, the Foreign Account Tax Compliance Act became effective, and instantly virtually all foreign banks were required to keep track of, and report on, all assets held by U.S. citizens. Individuals who don’t report income on those assets and pay taxes to Uncle Sam face draconian penalties in excess of the actual money […]
Now that your tax money is in the hands of Uncle Sam, what will he do with it? How will the government allocate your contribution to the overall budget?
A Bankrate article by Bruce Fraser that was also published at Fox Business on December 12, 2013, points out the importance of not only building wealth, but also of protecting it. The piece focused on three wealth destroyers: taxes, inflation, and overspending. Rick is one of the advisors cited in the article, titled “3 Wealth […]