Doing taxes at the last minute
Patterns are fun to find in Google trends, a tool that visualizes search traffic volume.
Look at the graph for the search term IRS in the United States:
The graph generally has two spikes yearly. Why might this be? I'll take a guess.
The first spike is in Jan-Feb when people are ...
Complete list of Taxes articles
Tax Checklist
Time to start thinking about taxes. Planning early is a big step in avoiding the last minute rush. It also helps to speed the receipt of an expected refund check.
But what does planning early mean? There was a time that I only had a vague idea. I went through the ...
Calculating stock or investment returns: the difference between ROI and IRR
Whether you are investing in the stock market or a business project, you need to understand rates of return. Stock gurus talk about things like ROI and IRR, but what do they mean? I'll go through the logic of each method and explain why IRR is my preferred choice.
Rate of ...
Are You Eating Your Retirement Savings?
Some of my acquaintances think it’s impossible to save nowadays. They say there is nothing left after taxes, housing, and basic social expenses. One person even said it’s getting to the point that $50,000 is not enough to live in Chicago.
This seemed curious to me, so I started a discussion ...
The Crummey trust and game theory: understanding the grim trigger strategy
My friend never broke curfew during high school. The consequences were too dire. His parents had threatened to cut off his allowance and scale back on helping him pay for college.
Years later I would recognize the parents’ strategy as an important game theory concept. They were playing what is known ...
Guest Writer: The Basics of Islamic Finance
Religion and money are joined in many ways. Discussing these issues can educate and improve understanding among followers and non-followers alike. Today is a discussion of Islamic finance from guest writer Asad. Guest writers discussing other religions to follow in upcoming weeks.
Religion is a sensitive issue--please be sensible when writing ...
Thinking about the 401(k) Account: Should I Have One? How Much Should I Contribute? What are the Risks? Trying to Interpret the Experts
Planning for retirement raises a number of difficult questions. I'll admit that I often get confused coming up with answers. And I'm an economics graduate who started investing in high school and enjoys reading financial articles. I have sympathy for anyone that feels overwhelmed or confused by the ...
How to Enter a Tax Refund (or Payment) When Tracking Money
It’s already several months into the calendar year, but you just received the tax refund (or had to pay) for the income you earned last year. How should you enter it when tracking your money?
I'm not an accountant, but I have considered two main choices that work practically: ...
Save More or Earn More?
Should you save more or earn more?
This is a frequent money question. It’s also a misguided one.
When I hear this question, I say I want both. I need to earn more so that I can enjoy higher quality products. But for a given income level, I need to save more ...
The rule of 25% for calculating restaurant tips
I'm often asked to figure out the tip at restaurants because I have a degree in math. I used to explain that a math degree does not mean I'm a human calculator, but I decided it would be easier to have a rule of thumb on hand so I can ...
Understanding how taxes affect personal finance
I like to pay taxes. It is purchasing civilization–Oliver Wendell Holmes
Taxes are a big consideration in many financial decisions, including retirement accounts, tax-advantaged investments like municipal bonds, and renting versus buying a house. These financial decisions are so important that knowing basic tax information is critical. Here are four traits ...
