So you’ve done the impossible – retired with young children (or retired and then had children.)
Congratulations, you are eligible for a generous $2,000 Child Tax Credit (per kid.)
But if you no longer have earned income and/or already have a low/zero tax burden, you could miss out on thousands of dollars.
This is how to avoid that. (This is especially important now that we have doubled our potential for Child Tax Credits.)
You may have heard that 47% (or 43%) of people pay no taxes, including the President.
Has our blog post on how to Never Pay Taxes Again really been a bad influence on such a large percentage of the population?
Who are the people who pay no taxes? Let’s explore.
Follow the money. Always follow the money. – Deep Throat
Recently the New York Times published an analysis of 20 years’ of President Trump’s tax returns, concluding that he paid no taxes in 10 of the last 15 years and just $750/year during the first 2 years of his presidency.
Is something dubious going on? Or is this quality advertising for his accountants?
I’m tax-curious… let’s follow the money.
Accumulating rewards points is a great hobby. Redeeming them for world travel and adventure even more so.
But we are unlikely to travel before 2022, what with a global pandemic and the recent expansion of our family.
As such, I’ve cashed out all of our flexible rewards points… we can earn more later, and the cash out options were enticing.
When you are practicing social distancing and self-isolation, finding new pandemic hobbies is one way to keep positive.
One exciting option I used was finding unclaimed assets that were owed to us – 10 minutes of effort yielded $82.20.
Maybe you have some free money out there with your name on it!
My investing career has spanned some incredibly interesting timeframes – the Internet bubble burst of 2000, the Great Financial Crisis of 2008, the beginning of the COVID-19 pandemic… each unique, but with one strong commonality – in every one of them I lost what felt like a great deal of money.
But this time it truly is different in one regard… this is the first time I’ve been able to say,
“Huh, so that’s what it feels like to lose one million dollars.”
