Aquila Wealth Advisors' Newsletter, Thursday, April 5th, 2018
Here's a few articles I've found useful and interesting this week, with my short commentary:
1 & 2) Get software, i.e., waveapps.com is a free small-business tax software, and mint.com is free personal money tracking software.
3) Automate contributions into a retirement account first.
4 & 5) Deduct mileage and home office expenses, when appropriate.
6) Employ family, e.g., fund your child’s Roth IRA early due to them having earned income through your business.
7) Carryover tax deductions to the next year vs letting them slip through the cracks.
Work from Home? Tax Reform Changes to the Home Office Deduction
“The good news is that if you’re self-employed or run a business from home, tax reform didn’t change your ability to deduct home office expenses against your business income.”
3 Tricks to Living Well While Spending Less
In a nutshell:
1) Save half of your raise/income increases.
2) Keep housing cost to a quarter of your gross income.
3) Splurge on experiences vs material purchases.
Elon Musk Wants to Blanket the World With the Best Satellite Internet Service Ever. The FCC Just Said Yes
Free internet? 4,425 satellites? Maybe, maybe not, but still pretty enticing to think about not having to deal with Charter/Comcast cable.
I hope you've found these helpful or interesting.
Eric Maldonado, CFP®, MBA, CKA®
Owner, Aquila Wealth Advisors
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