Category: Financial Planning

Tax Deductions For Your Vacation Home

The best type of income is tax-free income. Ordinarily, any rental income you receive is taxable. However, there is one little known exception that can be particularly useful this time of year. You can rent out your vacation home for up to 14 days per year and all the rental income you receive is tax […]

Passion, Purpose and Profit

Passion, purpose and profit should be considered inextricably linked, like milk and cookies, peanut butter and jelly, or yin and yang! There is usually a catalytic explosion when these three factors meet. Consider some of the most successful people that you know. Does it ever seem like they are working? Confucius once said, “Choose a […]

How important is Personal Credit to My Business?

I wish we could say it doesn’t matter, I mean in today’s economy most people have been hit with a blemish on their credit score. Unfortunately if you are in business or looking to start a business and plan on seeking outside funding, business credit cards or lines of credit then a clean personal credit score means […]

Unlock The Secret To Tax Rate Planning

Do you know your marginal tax rate? More importantly, do you know your real tax rate? They are not the same, and knowing the difference can be critical to effective tax planning. The U.S. individual income tax system is based on six tiers of rates: 10%, 15%, 25%, 28%, 33%, and 35%. A common misconception is that a taxpayer […]