I remember my first (legit) paycheck. I was working at a restaurant as a banquet waiter earning something around minimum wage in New York in the late 90s. The banquets were only a few years so the paycheck was around $30 a shift. I had probably six shifts a week? So I had expected my […]

It’s huge. I’ve been watching the average tax refund statistic for years, ever since the Bargaineering days, and it’s always been around $3,000. For the 2018 filing season average tax refund is (as of May 11, 2018): $2,769 That’s based on 141.5 million tax returns received, of which 135.8 million have been processed. Historical Average […]

The one you are most familiar with is known as tax loss harvesting. It’s where you sell losers to offset the gains of winners. You don’t pay taxes because you didn’t gain anything. That pretty much sucks but as a tax strategy it’s effective. But there’s another way you can have gains and still pay […]

Every year, I get into a conversation with someone about the home office deduction. It’s one of the many deductions steeped in mystery and fear. As may not be a surprise for many of you, I work from home. In our home, we have a dedicated office that is used for nothing else. OK, one […]

I remember the first time I filed my taxes. I was dropping something off at the post office when I saw tables full of cardboard boxes filled with forms with the now familiar IRS eagle and scales logo. Tax season! Those boxes were so intimidating. I was so scared of filing my taxes wrong and […]

Sometimes we make bad bets. Make a bad bet in a casino, you might leave with a drink. Make a bad bet in the stock market, you can leave with an income tax deduction. If that made you say “huh? what?” — perk up. It’s called tax loss harvesting and it’s what successful investors use […]