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Death Tax | Are The Amount Of Taxes Paid Causing Private Industry To Shrink?

Posted by Jim on Jul 19th, 2012 · 2 Comments

The ongoing battle on Capitol Hill over the rate and extent of the inheritance and estate tax illustrates well, the very mixed feelings that both lawmakers and average Americans have about the principles behind taxing what hard workers leave to their family and friends. The so-called “Death Tax”, named for the levy that has ranged up to 55% on the inheritance that people pass onto others upon...
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Here are some simple guidelines that will help you build wealth:

1) Do the math. Get a budget and calculate your net worth

2) Get an emergency fund. Save at least 6 months worth of expenses

3) Limit costs. Spend no more than 30% of your income on housing

4) Max your retirement. Maximize contributions to your tax-deferred retirement accounts

5) Pay yourself first. Set aside money for yourself before you take care of your other bills

6) Set goals. Goal let you get ahead faster

7) Avoid high interest debt. Avoid credit cards, title loans and other usurious loans

8) Diversify. Diversity your assets.

Death Tax | Are The Amount Of Taxes Paid Causing Private Industry To Shrink?

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Critical Financials’ Basic Personal Finance Rules

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