home businesses

While random chance plays its role in tax audits (sometimes there is just no way to avoid some sort of an audit — no matter what you do), there are some red flags that may prompt a closer review of your paperwork. Here are some tips for avoiding a tax audit.

The first-time home buyer tax credit extension cleared a hurdle in the Senate today with a 98-0 vote, and it could be a done deal if approved by the House this week. All over the U.S., there is an increasingly heated argument over the benefits of the First Time Home Buyers Credit and this extension. [...]

Diversification is a concept that I’ve embraced most of my life.  In the past, I have discussed investment diversification and also touched on the concept of income diversification.  Today, I want to explore the idea of diversifying your.

When you think about income, most of you will immediately think about your job.  However, if you want [...]

Net Worth Review
The S&P 500 gained +0.8% in December and went from 896.24 to 903.25. But for a full year, the S&P 500 dropped -38.5% from 1468.36 to 903.25 — ouch!  According to NetworthIQ, my net worth rose +3.44% and my net investable assets increased +6.54%.

Highlights

Home value actually went up slightly in December, but for [...]

Before I begin my net worth review, I would like to point out that Larry Swedroe recently published The Only Guide to Alternative Investments You’ll Ever Need.  The book got several great reviews on Amazon.com and my copy is on order.  Hopefully, I’ll be able to share some insight from the book with you soon. [...]

Now that we know Obama is the next president, we can evaluate his proposal regarding 401k plan more closely.  If you recall from my last article, I didn’t like his proposal that would allow people to early withdraw from their retirement funds — i.e., 401k and IRA — without penalty (McCain’s plan was even worse). [...]

Net Worth Review
September was a rough month! The U.S. economy suffered from the worst financial crisis since the Great Depression. Major failures in our financial system forced the U.S. government to take over Fannie Mae, Freddie Mac, and AIG. On top of that we saw the end of Lehman Brothers, Washington Mutual, and Wachovia. All [...]

American International Group is facing a serious liquidity crisis and potentially a complete failure.  However it’s being saved by the U.S. government who loaned $85 billion dollars to AIG and assumed 79.9% stake in the insurance company. Personally, I don’t like the idea of government bail out, because I believe these companies should have done [...]

Net Worth Review
The daily fluctuations aside, August was relatively good month with the S&P500 up 1.2% from 1,267.38 to 1,282.83.  This gain covered the loss in July and then some. According to NetworthIQ, my net worth dropped another -1.43% — again due to the declining value of my house. But my net investable assets went [...]

A while back the Money Blog Network asked other bloggers to share what their finances were like 10 years ago. I’d forgotten about this group project until I read one at Can I Get Rich On A Salary who did an amazing job of improving his finances over $1 million in 10 years!
My Finances 10 [...]