Become a Patron! I've been looking forward to this post for over a month, so I'm glad to finally be able to write up the complete story of my Economic Injury Disaster Loan. I know a lot of people are at different stages of the process, so hopefully this will be a useful guide for what to expect, particularly if Congress ends up appropriating additional money for the program … [Read more...] about My successful Economic Injury Disaster Loan story
self-employment
Personal finance during the plague: self-employment (2)
Become a Patron! Earlier this month I wrote about some of the advantages of replacing work lost to the coronavirus pandemic with self-employment. I want to continue that discussion today with some questions to ask before and as you get your self-employment up and running. Is your self-employment a business or a job? This question confuses people in the United States due to … [Read more...] about Personal finance during the plague: self-employment (2)
Personal finance during the plague: self-employment (1)
Become a Patron! I've been self-employed for a long time now, and loyal readers know I'm a relentless advocate for self-employment. As I never tire of saying, not everyone should be self-employed because not everyone wants to be self-employed, but a lot more people should be self-employed than currently are. Since I'm writing this series on personal finance during the … [Read more...] about Personal finance during the plague: self-employment (1)
What you need to know about the idiotic “QBI deduction reduction” rule
Become a Patron! In the frenzy to pass the Smash-and-Grab Tax Act of 2017, a faction of Republican senators who, totally coincidentally, are the owners of passthrough businesses, insisted on including a special treat: in addition to tax cuts on the profits of C corporations, and cuts to the personal income tax rates they pay on their passthrough income, they demanded that … [Read more...] about What you need to know about the idiotic “QBI deduction reduction” rule
How to think about the Spousal IRA deduction gap
Become a Patron! With the end of the year in sight and tax season around the corner, I've been brushing up on the rules for IRA contributions and deductions. Remember IRA contributions can be made for the 2019 contribution year until April 15, 2020. Most large IRA custodians make it easy to designate your contribution for the appropriate year, but if you use an independent … [Read more...] about How to think about the Spousal IRA deduction gap