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.
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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New Construction (Not our house, photo credit)
Greetings friends, I have big news! We’ve purchased a home! A real stick-built house with walls and everything!
I haven’t been this giddy since I was a school boy, so let me tell you all about it.
Saving a high percentage of income as a path to financial independence has received a lot of recent attention in the press. I love that this crazy idea has almost become a movement, changing lives for the better.
Due to the publicity I’ve had the good fortune to meet several strangers who have become friends, thanks to the common bonds of world travel and financial wizardry.
However, I have a confession to make: I have more in common with the detractors. I actually really suck at being frugal.
Jr Adventurer
We were in the land of traffic jams and strip malls this summer, visiting family and friends who work for those big tech companies.
Over a glass of wine (or was it a bottle?) a friend popped the question… “So, you think you would be interested in working again? Our team is hiring… you could easily get a big salary and a juicy stock package.”
“Hmm, that sounds interesting“, I replied. “But I just don’t think I could find the time.”
