Compound Interest Explained

Compound interest is the magical phenomenon that grows your money exponentially. It can be more powerful than a passive income stream or even your paycheck.  It’s probably the greatest path to wealth building that has ever existed. Let’s get you up to speed on compound interest so you can clear the way to becoming rich.…

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How to hire your child [Tax Deduction]

IRS Family Help page   The SBA website, “5 reasons to hire your child.”   FLSA Child labor Rules   Rules for working under 14   Child labor exemptions from The US Department of Labor   How and where to apply for your businesses EIN on the IRS website.   The 17 Hazardous Occupations by…

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Net Income Attributable Calculation

The net income attributable calculation can help you fix and avoid the 6% Roth IRA excess contribution penalty. You have until the October 15th tax filing deadline, regardless if you filed an extension or not.  In fact, if you realized you overcontributed after you filed your taxes but it’s still before the October 15th tax…

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Why Annuities?

I don’t own an annuity and probably never will. But I still recommend them from time to time. You might be wondering how on earth can someone recommend a product or service they openly admit they won’t ever use themselves. Let’s start with the statement we hear most often about annuities, “They are not good…

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