Did you know that America’s retailers and restaurants now “celebrate” the date with weird deals, including free document shredding, $10.40 meals and bagel bundles, and free cookies?
Life is a whole lot easier when you can take the steps to your rented Italian villa without stopping to catch your breath, rest your arthritic knees, and check your blood glucose level.
If you, like most physicians, have a high marginal tax rate, you are generally better off deferring as much tax as possible by taking advantage of traditional tax-deferred retirement plans.
The self-employed can take many deductions, whereas an employee is much more limited. Some physicians have the benefit of being both an employee and an independent contractor.
I think we all know that giving to charity is a good way to lower the tax bill. Of course, giving to charity doesn’t build wealth, but giving can be done in ways that give the most benefit with the least cost to you.
It’s true that combining two incomes can lead to a “marriage penalty“. However, when most or all of the income is earned by one partner, adding a spouse lowers your total tax.