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Trump Reportedly Paid No Income Tax At All For 10 Separate Years
Nada Alturki
The New York Times recently reported that Donald Trump has not paid any taxes in 10 of the past 15 years since the year 2000. This was because he reported losing significantly more than he earned. He has reportedly, in his first year as president and the year of his election, only paid $750 in federal income taxes."I pay a lot, and I pay a lot in state income taxes," Trump said in a briefing ... ...more
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Purchase Property For Under $100?
Chris Mentillo
As one of my favorite animated cartoon characters says (Mr. Bean), "Hmm, I wonder?" I do indeed wonder...I was recently researching an article about this rich person John Malone, who recently surpassed Ted Turner as the country's biggest landowner. His latest purchase of the Bull Ranch in New Mexico brought his portfolio to more than 2.2 million of land. And it bought it cheap, under ... ...more
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How Does The IRS Know You Owe Crypto-Taxes?
Chris Mentillo
Hello Folks. Well, it's that time of the year again... The Internal Revenue Service (IRS) building stands in Washington, DC. April is the deadline in the United States for residents to file their income tax returns. As another tax season arrives, one of the major questions crypto holders have is how does the IRS know if someone has cryptocurrencies? Before I describe the ways that the ... ...more
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#FreelanceFriday: What Are the Benefits of an LLC?
EnglishMajorLeagues
Welcome back! This week, I want to talk about LLCs, or limited liability companies. When you first start out freelancing, you probably don't need to form one right away, depending on the work you perform. But once you start to get a good cash flow, and definitely by the time you freelance full-time, it's important to consider that an LLC might be a benefit to you. Unlike a sole proprietorship, ... ...more
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#FreelanceFriday: IRAs and Your Retirement
EnglishMajorLeagues
It's always a good idea to plan for your future, especially financially. We're no exception as freelancers, but it can be hard to choose a retirement plan that works for you. With no traditional employer to make matching contributions to your account, one of the best ways to save for retirement is with an IRA, in one of its three forms: Traditional or Roth, SEP, and SIMPLE. Firstly, it's ... ...more