URGENT: Federal Reserve Cancels Recession, Prices Fall, Massive Pivot Ahead

Federal Reserve Cancels Recession

Attention everyone! Just a few hours ago, a significant development occurred. The Federal Reserve has chosen to pause rate cuts indefinitely. Surprisingly, investors are now considering the possibility of an unexpected rate hike within the next year, assigning it a 20% probability due to rising inflation, falling stock prices, and global tensions. Today’s Federal Reserve […]

How Much Home You Can ACTUALLY Afford in 2024 (By Salary)

home tax in 2024

Introduction Today, I want to delve into a crucial question: How much home can you afford? It’s essential to live within your means, especially when considering a significant investment like a house. Let’s break down the numbers. Assumptions Before we dive in, let’s establish some assumptions: ● Loan Term: 30 years ● Property Tax: 1.25% […]

The #1 Thing Keeping You From Wealth Building

Building Wealth

Understanding the Real Problem with Debt Debt is often mistaken as the main financial issue individuals face; however, it’s actually just a symptom of deeper underlying problems. It’s crucial to understand that personal finances are 80% behavior and 20% head knowledge. For example, if you haven’t made any progress on your student loan debt for […]

Tax Brackets Explained For Beginners in The USA

Tax Brackets for beginners in 2024

Understanding how tax brackets work in the USA can be a bit complex, so let’s break it down using an example of someone earning $100,000 a year. This total income can be organized into different segments or “piles” to represent tax brackets. How Tax Brackets Work Here’s a simplified breakdown of the income: ● The […]

How To Invest In 2024 (The BEST Way To Get Rich)

How To Invest In 2024 (The BEST Way To Get Rich)

A startling statistic revealed that 63% of Americans would struggle to handle a $500 emergency. This highlights a critical gap in financial education, which often isn’t emphasized enough in schools. Consequently, many people grow up without the knowledge to manage their finances effectively. Additionally, the topic of money remains somewhat taboo, which only exacerbates the […]

Partnership Dissolution: What to Expect Under Three Typical Scenarios

Partnership Dissolution: What to Expect Under Three Typical Scenarios

Winding down a partnership can be a complex and emotional process. As you navigate this transition, understanding the potential outcomes and tax implications is crucial. Here’s a detailed overview of what you might expect under three typical scenarios of partnership dissolution. Scenario 1: One Partner Buys Out the Others Overview In this scenario, one partner […]

Maximising Tax Benefits: Selling Your Home to Your S-Corporation

Maximising Tax Benefits: Selling Your Home to Your S- Corporation

Converting your home into a rental property can be a strategic financial move. One effective way to enhance the tax benefits of this conversion is by selling your home to your S corporation. This guide explores the benefits, addresses common doubts, and outlines the steps to implement this strategy successfully. Benefits of Selling Your Home […]

Beneficial Change in IRS Policy: The Partial Disposition Election

The IRS has introduced a significant change in its repair regulations, offering a partial disposition election that benefits property owners when replacing a structural component, such as a roof, on their office building or rental property. Previously, replacing a structural component like a roof meant the old roof’s remaining depreciation continued on your books, which […]

Track These 4 Numbers to Become a Millionaire

Track These 4 Numbers to Become a Millionaire

1. Fixed Costs Tracking fixed costs is crucial, and they should ideally account for 50 to 60% of your take-home pay. Fixed costs include expenses like rent or mortgage, utilities, transportation, groceries, debt payments, and subscriptions. It’s recommended to add an extra 15% to cover hidden expenses such as car repairs or emergency medical care, […]