It is that time of year again. Time to pay the tax man. At least for most people.
For the past two years we have shared our tax returns (2013, 2014), showing investment income of nearly $100,000 and a Federal Income Tax bill of $0.
This year is a little different because we violated Principle #1, Choose Leisure Over Labor, and this little blog accidentally earned a few bucks. Apparently I’m a business owner now. While that opens up all kinds of interesting tax opportunities, which I certainly capitalized on, having earned income changes the game a bit.
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“You guys are going to Europe for 4 months?! That sounds wonderful, but… isn’t Europe expensive?”
“How are you going to work the higher cost of European travel into your budget?”
“Will you have to miss out on some amazing European restaurants and eat more peanut butter and jelly?”
Since sharing our big 2016 travel plans a few months ago, various forms of these questions have been sent our way.
I prefer strategic lifestyle design to tactical spending plans like a budget. We aren’t going to limit our European gastronomic experiences with an artificial spending ceiling. (Thank you United States Congress for the inspiration!)
Certainly Europe will cost more than budget destinations like Thailand or Guatemala. So how will we pay for it?