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Review Category : In The Media

47% Of Americans Pay No Income Taxes

It’s pretty interesting to look at who pays income tax in America and who does not.  That is until you realize you might just be in the top 1% of all wage earners in America and the differential in the percentage of taxes you pay relative to overall adjusted gross income does not match at all when you add up the numbers.  What’s truly amazing about the data below is that the top 1% of wage earners is about $380,354 and the top 5% of wage earners is about $159,619, but the top 5% account for 58.72% of the taxes. When compared to their share of adjusted gross income, the top 1% are almost double the income taxes against their actual AGI contributed into the mix. WHO ARE THE 47% WHO PAY NO FEDERAL INCOME TAXES? (this excerpt was taking from www.financialsamurai.com) The Tax Policy Center’s Donald Marron said they fall into three main groups: The working poor. The earned income ...

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What Does Steph Curry’s Mouthguard Teach Us About Investing?

It’s playoff basketball time and this past week we saw all kinds of buzzer beaters from Derrick Rose and Paul Pierce in some really exciting games. The NBA loves statistics, and I love looking at those statistics and thinking about what it may mean when it comes to your money. So, how the heck does the mouthguard that newly crowned MVP Stephen Curry wears and investing wind up in the same category? This is where the ‘your smart money moves’ column takes everyday life and turns it into valuable money making lessons. The Wall Street Journal (source wsj.com) did a recent study looking at all of Steph Curry’s 337 free throws taking during the course of the NBA Season. With the Mouthguard out, Curry shot 198 for 214 from the free throw line which is a 92.5% shooting percentage. With the Mouthguard in, Curry shot 110 for 123 which is an 89.4% shooting percentage. The real difference between these two ...

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The World Series Of Vaping

Since 1903, The Fall Classic called The World Series has been entertaining baseball fans all over the world.   In 1970, the famous World Series of Poker began at Binion’s Horseshoe and now has a place yearly on ESPN with worldwide coverage of the event.   Is it possible that the next phenomenon to catch on in America will be called The World Series of Vaping or what’s better known as “cloud chasing” today? Is this a joke, Ted?  No, unfortunately this is no joke at all.    E-cigarettes came on the scene about eight years, and now there are an estimated 8,500 vape shops in the U.S. doing over 1.2 billion in annual sales.    Approximately two years ago, owners of the vape shops starting these “cloud chasing” contests to attract more customers.   Now, the number of contests going on across the United States have exploded.    This hasn’t exactly turned into a World Series of Vaping yet, but contests that are held at ...

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What’s the financial impact of a mosquito bite?

At Mr. Mister Mosquito Control, we believe mosquitoes are the worst creature on the planet. We have data to back it up—mosquitoes are the deadliest animal on Earth, killing over 800,000 people last year and, what’s more, Atlanta, GA was given the title of “American City With The Worst Mosquito Problem.” So what does that mean to my wallet you may ask?  In the mosquito world, we follow the ROE scale (Return on Enjoyment). All your hard work and all your investments are seen through the lens of increasing ROI. A higher ROI should directly correlate to a higher ROE.  ROE investments like swimming pools, Big Green Eggs, playsets and lake houses should result in a positive ROE.  Simple pleasures like having a catch with your child in the backyard, family dinner on the patio, having a sunset cocktail or lounging for a romantic evening by the fire pit are all outcomes of ROE. Mosquitoes are the greatest threat to ...

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How Bill Belichick And Deflategate Can Help You Save Money On Your Super Bowl Party

It’s all anybody can talk about now leading up the Super Bowl . . . #deflategate.   Even though Bill ‘the science guy’ Belicheck has vehemently denied any tampering with the footballs, there is silver lining from #deflategate.  What if Bill Belicheck was helping you host your Super Bowl party?  Maybe he could draw a parallel from deflating footballs to showing you how to deflate your budget and still pull off a touchdown for a Super Bowl Party.  The Super Bowl is the second largest single day of food consumption after Thanksgiving.  It also ranks as the most widely watched television show of the entire year.  This can be an exciting day to invite over family, friends, and work colleagues over to your home to enjoy the big game.   If you don’t have a big budget to host the Super Bowl, here are my (and Uncle Bill’s) smart money moves to stretch your dollar into the end zone. Make It A ...

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Balance The Budget

Like many Americans, I am simply sick and tired of the bickering and fighting that is going back and forth between Congress and the President. If I could wave a wand and get one compromise between the President and the new Congress it would be to simply balance the budget here in America. As a personal finance person, it’s abundantly clear that no individual, family, or business can continue to accrue debt in perpetuity. Eventually, debt chews you up, drags you down, and paralyzes you from moving forward. This is exactly what debt is doing to this country. If you get the chance over the next week and have never gone to the website www.usdebtclock.org, I recommend that you take the opportunity to spend five or ten minutes on the site. As I drafted this article, I noticed that national debt according to the site has now crossed over $18 trillion dollars in debt. The way you build up debt ...

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Obamacare: Open Enrollment What You Need To Know

It may be open enrollment season for many of you at work, but for millions of Americans it will be the official open enrollment for Obamacare coming up this Saturday.  Amidst the unknown of the upcoming Supreme Court case regarding federal subsidies, there is a plethora of information to digest for those of you who are considering the federal marketplace for your health insurance.  Here are my five smart money moves Q & A to help you get an initial start to understanding the open enrollment period beginning this week. Get Obamacare Help Here > Question 1:  When does open enrollment start/end and how many people are expected to sign up this year? Starts November 15, 2014 and ends February 15, 2015. You must apply by December 15th if you want your coverage to begin January 1st There are no other enrollment periods unless you qualify for a special enrollment for life events such as marriage, divorce, birth of new ...

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Why a Prenup Needs to Include Debt

My team is extremely fortunate to get to work with so many successful Generation Xers.  Many of them have done phenomenally well in their careers, and then begin considering marriage at a much later stage in life toward their late 30s to early 40s. This often brings up the question when we do financial planning with them about whether or not it is a good idea to get a prenuptial agreement. There are pros and cons to getting this type of agreement, but the one important item many couples do not remember to put in these agreements when they execute them is what will happen with the debt. Most couples remember to talk about the bank accounts, the retirement accounts, the family inheritances, the real estate, and the closely held businesses.  However, most people assume that all prenuptial agreements are only dealing with people who have significant wealth.  What happens when a couple gets married and you still have outstanding ...

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Is Disney World For You Or For Them?

For dual income families with children today, you often burn the candle at both ends trying to be the best you can be at work and the best you can be at home. You want to create magical memories for your children because some days you don’t get to see them when the sun comes up or until the sun goes down. Due the frenetic pace you are running every day, it’s not that your competency shrinks, but your capacity shrinks often forcing you to make bad financial decisions. The dumbest financial lesson I see parent’s teach their children today is to take fancy vacations that simply aren’t in the family budget. As a side note, over the top birthday parties aren’t far behind on my list. Vacations are still at the top of the list. Take the average parent today who has a 4 year old and a 2 year old and they get the bright idea to wipe ...

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