Welcome to The Wealthy Accountant
Less Tax — More Wealth
LATEST BLOG POSTS
Miss the newest posts? Here are the last six!
Finding a Good Accountant for Your Income Properties
Finding a qualified tax professional takes time and work. It is all worth it in the end. The best tax professionals are selective in who they take on as clients so you will be vetted at the same time you are vetting. This is a good thing as you want a good fit for all parties involved because it is your investment and money is on the line.
Recovering from Burnout
Burnout is only one step on a road to hell. Left unchecked it can cause serious damage to your health.
If you experience burnout and take no remedial actions you can start to exhibit symptoms of something much worse.
The first step toward a nervous breakdown is burnout. Fatigue lowers your mental defenses. When the situation continues to pound feelings of desperation can set in. Helplessness is a large factor of burnout.
Investing in a Retirement Account is Like Taking Out a Loan
Traditional retirement plan contributions come with a loan attached to it with a variable rate of interest, to be determined at a later date by the tax code and your income level.
We all know that traditional retirement accounts get a tax deduction at your ordinary tax rate to the retirement plan contribution limits. We should also know that these account grow tax-deferred and that all distributions are taxed at ordinary rates.
This is a real problem if your goal is to maximize your net worth. In the early years the tax benefit makes it seem like it is the best deal on the planet. But as time passes the math tells a darker tale.
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