frugalprofessor

Taking 5 minutes yesterday to follow this advice from the Finance Buff saved me around $300 in taxes: https://thefinancebuff.com/make-mortgage-payment-due-january-1-december.html. The higher YTD interest paid already posted in my mortgage account today after making my payment yesterday. Easily one of the simplest tax hacks I’ve ever employed. Though this tax hack is mostly targeted towards those itemizing … Read more

The House and Senate released their new plans tonight. The gory details are here in this 570 page document: http://www.wsj.com/public/resources/documents/JointExplanatoryStatement121517.pdf It’s really easy to model in Excel because it’s so similar to the existing tax code. Took me about 5 minutes. To me, the biggest changes are: The Rubio-encouraged refundable child tax credit (up to 1,400 … Read more

As of today, it’s looking like the tax code will change drastically on Jan 1, representing the largest change to the tax code in 30 years. A huge impact of the tax change is the reduction of the corporate income tax from 35% to 21%. While important to shareholders of firms (i.e. any investor), this … Read more

Available here: https://frugalprofessor.com/updated-tax-calculator/

2022 Edit — Find my updated calculators here: https://frugalprofessor.com/2021-tax-calculator/ https://frugalprofessor.com/2020-tax-calculator/   *** If you care to learn deeply about the tax code, I have begun writing a book which contains everything I know on the topic. The book discusses wealth accumulation strategies, of which tax minimization is a key component. The (imperfect and incomplete) draft … Read more