tax education

Thank you to the 750+ people who said they were willing to step up and take massive action to change their financial future. The first step is the teleseminar on September 27, 2008. I’ve identified at least 5 strategies that every single person could take advantage of before the end of the year to put immediate money in their pocket within a week.

Now, here’s the problem. There were only 200 spots available, so over 500 people had to be told (within 2 hours of sending the email) that the spots were all filled.

It’s funny - there’s a tremendous emphasis on words like “security” and “safety” when it comes to the traditional investment market. Mutual funds, blue chip stocks - they’re all pushed as safe, secure places to put your money.

When it comes to taxes, there rarely are quick questions. Or, let me put it another way, if you consistently get quick answers from your quick questions – run, don’t walk, to another advisor. That’s because on the surface it might seem like a quick question, but there is often more to it. For example, “I am selling my principal house that I lived in for over two years and getting back $100,000, do I have to pay tax?”

I’m writing this the evening before July 4th. Richard and I are heading out tomorrow early to visit our son, David, at his new school. Between the beautiful grounds, the stable of horses and the cooler weather at his school’s higher elevation, I’m thinking of moving in!

Whatever it is that you did on the 4th, I hope you enjoyed it. In this week’s What’s Hot I want to tell you about three recent tax court rulings. In each case, mistakes in understanding and/or interpreting tax law left taxpayers paying a high price for bad information and bad decisions.