As with most things, there are pros and cons to filing an extension on your taxes. Let’s take a look at the pros of getting an extension to file first. Pros 1. You can avoid a late-filing penalty if you file an extension. The late-filing penalty is equal to 5 percent per month on any […]
About Alan Williams
This author has yet to write their bio.Meanwhile lets just say that we are proud Alan Williams contributed a whooping 85 entries.
Entries by Alan Williams
In today’s credit-laden world it’s become very popular to consolidate debt through a home mortgage loan. However, not properly understanding the math behind this idea can add up to trouble for many borrowers who have rolled over a higher-interest-rate mortgage for one charging today’s lower rate. For example, had you bought a house in 1992 and […]
You’re working hard to pay off all those credit cards and paying extra every month on all your other loans, including your mortgage, but you never seem to make a dent in it all, right? Maybe the problem isn’t your debt, it’s your spending. Without having a spending plan that you track, you will never […]
Since the inception of the income tax, people have been developing methods of shifting income within family groups in order to reduce excessive taxation. The concept is simple: Spreading income among several people, especially among those in lower tax brackets, is much cheaper when it comes to paying taxes, than having one person pay tax on all the income. Thus, income shifting […]
If you have started a home-based business as a means to save valuable tax dollars, you know the tax savings you can enjoy. You also know that in order to enjoy those tax savings with total peace of mind, you must keep good records and document everything. This is especially true when it comes to […]
One of my clients said this to me recently, “Since learning the Money Mastery principles, it has been so much easier for us to look at the big picture. We realize now that our whole lives revolved around the here-and-now before we were taught to look seriously at the future.” The “Big Picture” view this […]
When you retire, what percentage of your retirement savings (per year) do you think you can safely withdraw without outliving your money? A) less than 5% B ) 5 % C) 6-9% D) 10-15% E) 16-24% F) 25% or more G) Don’t know If you’re like most of my clients and I think it’s safe to say, most of […]
Creating a “passive” income, one that comes to you without requiring your own physical labor to earn, is the key to creating true wealth, and rarely understood by most Americans today who have been living the large life of over-spending and too much debt for so long they can’t imagine having a passive income. Rather than […]
Achieving your long-term “retirement” goals is only possible as you look at your short-term behavior to see if it is hindering you. One of the best ways to combat irresponsible and shortsighted behavior that keeps you from accomplishing your long-term goals is to become more aware of your thinking and behavior during the time that you […]
What is your tolerance for risk? Knowing how well you handle the stress of uncertainty is very important when it comes to creating a more predictable retirement. Part of retirement planning is dealing with the risks and also the potential for return on money you invest to help fund retirement. Risk: Measured by the potential for […]
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