IRS WealthMaverick

How Does Depreciation Help Your Business?

Depreciation can be your friend. Depreciation is a way for businesses to reduce their tax liability each year as they secure equipment and other assets necessary for operations. Overall depreciation encourages spending, especially on new products, so it both helps the business that is making the purchases of needed items as well as helping the manufacturer of that item have sales and recognize profit. This is an … [Read more...]

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Should I be a Sole Proprietorship?

Should you set up as a Sole Proprietorship or an LLC? Chances are, you have at least heard the terms sole proprietorship and limited liability company, better known as LLC. However, you may not really know what the differences are between these two things or how they can affect you directly. The truth is, even many people that are aspiring business owners are not fully aware of the differences between the two. This … [Read more...]

5 Tips on the Pro and Cons of Annuities

Let's talk about the Pros and Cons of Annuities. Are Annuities Good or Bad? Annuities can be a great passive way to build your own personal pension plan. There are ways to grow your money safely and more aggressive annuity structures that allow for loss but with much higher potential gains. Annuity Definition If you’ve ever asked what is an annuity you could pick up the book Annuities for Dummies. It’s thorough and … [Read more...]

United States Tax Brackets Explained

Tax Brackets Explained Taxes are a necessary evil that most people wish did not exist. Even though a lot lot people feel this way; they should understand that taxation is why we have roads, schools and important services that are offered by the federal, state and local governments. Taxes are derived from the products we buy, the services we use, the items that businesses sell and from people who work. As a matter of … [Read more...]

You’ve Made Money… Whoo hoo… Now You Have to Pay Capital Gain Distribution Taxes

What are the tax consequences of a capital gain distribution? Let's talk about it. Many people have been wondering how the US government taxes capital gains. This article describes what capital gains (and possibly capital losses) are, and how taxes are distributed on them. What is a Capital Gains Distribution? This refers to proceeds’ payment prompted by liquidation of underlying securities and stocks by fund … [Read more...]

Be a Retirement Millionaire

Do you want to be a retirement millionaire? It might not seem like it, but retirement isn't that far away, and if you aren't making the right decisions, you could very well find yourself struggling to make ends meet when you're supposed to be enjoying yourself after all of your hard work. Lets take a look at the facts- Agora Inc estimates that less than half of American adults have even thought about the amount of money … [Read more...]

401k Insurance

You need to be thinking about how to secure your retirement and give your 401k insurance in the form of well read investor. Everyone wants to retire comfortably right? Well, back in the day the United States had a lot of companies who, if you worked for them for a certain period of time, would guarantee a fixed payment upon retirement until you die. It’s called a pension plan. Over the years pension plans made way for … [Read more...]

JOBS Act - The future is here

What is the JOBS Act, and what does it mean for me and this beautiful country? JOBS stands for "Jumpstarting Our Business Startups." It's the legislation that, finally, allows American small businesses to raise crowdfunding of up to US$50 million (and still be considered small and private). The full text is online in PDF format. (1) When did the Jobs Act go in to effect? A: While President Barack Obama signed the … [Read more...]

Live Debt Free

Live Debt Free Let's go over the virtues of living debt free? Once you've been successful at paying off all of your debt you may be wondering what the heck to do with all that extra money you have. Don't go bet it all on red. Here are some choices that will help you stay out of debt and keep your financial life in the positive. Emergency Fund - An important step to remaining debt free is to maintain a healthy … [Read more...]

IRS Tax Debt Help

Need help resolving IRS Tax debt? A lot of people have experienced financial challenges over the past few years. Whether it be getting in too much debt with their home, credit cards or the IRS. Today we are going to talk about a possible strong option to help you take care of your IRS debt. It is true that the IRS can cause a lot of problems in your life including jail time for not handling your challenges with them … [Read more...]

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