The Go Curry Cracker 2016 Business Taxes

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Greetings, friends. For the past 4 years I’ve shared the Go Curry Cracker tax returns to showcase how the Four Principles of Tax Free Living are applied in the real world.

I violate Principle #1 myself, which means I get to file additional tax forms, namely the Schedule C, Profit or Loss From Business (Sole Proprietorship). This is of course good fun.

It would be a shame to keep all of these good times to myself, so this year let’s explore the GCC business taxes. In doing so, I will reveal all of the juicy details on how I make (and spend) money blogging.

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Hacking the Earned Income Tax Credit

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GCC: Tax Day is just around the corner, so what better time to showcase someone who has gone head-to-head with the US tax code and come out the victor.

Today’s guest post is by the Frugal Professor, and he is here to highlight how the Earned Income Tax Credit has accelerated his family’s path to Financial Independence.

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The Go Curry Cracker 2016 Taxes

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Another year, another tax return.

For the 4th year in a row, we’ve had taxable income in the six figures range with income tax burdens of ~zero, or even negative. Uncle Sam is by far my most generous relative.

This year is much the same, although I decided to throw the IRS a token dollar.
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Fewer Dividends, Please

Dividends in a Bull Market (photo credit)

Over the first few years of early retirement I noticed a disturbing trend… dividends were increasing at a much too rapid pace!

Between 2012 and 2017, the dividend payout of VTI / VTXAX grew at an annual rate of more than 9%! The growth rate on our portfolio was even higher (14%+) which brought annual dividends from $28,139 in 2013 to $36,760 in 2015. Annual inflation over the same period was only about 1.5%.

While dividend growth investors were most certainly overjoyed, I was busy reducing our dividend income.

Please, corporations of the world… stop paying so many dividends.

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Retire Early.

Travel the World.

Let's do this.

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