From the article:
> "I started thinking about writing a book in early 2017 because all my family and friends were coming to me for financial advice," she says. "I also began to wonder, well, why aren't they reading books or learning on their own? [...] And that's where the idea for 'Money Honey' came from."
So, yep, exactly.
I've put my book,
Crypto Taxes Made Happy: The Definitive How-To Guide For Preparing Cryptocurrency Tax Returns In The United States
https://www.amazon.com/Crypto-Taxes-Made-Happy-How-ebook/dp/B07BPSK2VK/
on Amazon and gotten them to offer the digital version for free if anyone can use it for any assistance on items they are still unsure about.
My team is also available if anyone needs us as a service.
Under 20 days left in tax season! ;)
I've put my book,
Crypto Taxes Made Happy: The Definitive How-To Guide For Preparing Cryptocurrency Tax Returns In The United States
https://www.amazon.com/Crypto-Taxes-Made-Happy-How-ebook/dp/B07BPSK2VK/
on Amazon and gotten them to offer the digital version for free if anyone can use it for any assistance on items they are still unsure about.
My team is also available if anyone needs us as a service.
Under 20 days left in tax season! ;)
It can speed up mortgage payoff significantly. Depends on your numbers of course but for a $300,000 mortgage with 25y amortization, you could have it paid off in as little as 13 years (potentially less).
An important detail is that with your mortgage paid off you will still have the same amount of debt in the form of a HELOC, however the interest on this debt will remain tax-deductible forever, so you collect the sweet tax refunds every year.
There's alot more to it, I recommend you read the book from the guys who made it popular, it's an easy read: Master Your Mortgage for Financial Freedom
You can search this sub, there are many you have discussed their good results.
Check out Money Honey. It’s down to earth and fun to read. But TL;DR:
1.) save an emergency fund 2.) invest in a simple maybe 60/40 domestic international index split like $VTI/$VXUS 3.) consider real estate. You could buy a duplex. Live in half, rent the other 0 mortgage and maybe some net 4.) Budget like you never had this money e.g. immediately pay yourself forward by putting it somewhere you won’t be tempted to take it out, as in your IRA your 401k your HSA and then your brokerage accounts.
I'm currently doing a free giveaway of my book on Amazon. It's called Millennial Millionaire and outlines how I became a 28-year-old millionaire and how others can follow the same path:
Hi, Crypto mining is taxes as self employment income if you are doing it individually and not through an entity (which isn't always recommended, only on case by case basis). Self employment income goes on a Schedule C. So you claim as revenue the amount the coins were worth at the time you mined them totaled up for the year. Then you can deduct as expenses anything directly related to that mining (the portion of electricity used, the space if it is exclusive, any educational or travel expenses pertaining to your mining operation and possibly some other items).
Note, then you have the coins that you mined and when you sell or trade them (or use them to buy goods or services) you will have a capital gain or loss based on the value of the coins at the time you mined them and the value at the time you did one of the above.
Let me know if you have any clarification questions.
Also, I've put my book,
Crypto Taxes Made Happy: The Definitive How-To Guide For Preparing Cryptocurrency Tax Returns In The United States
https://www.amazon.com/Crypto-Taxes-Made-Happy-How-ebook/dp/B07BPSK2VK/
on Amazon and gotten them to offer the digital version for free if anyone can use it for any assistance on items they are still unsure about.
My team is also available if anyone needs us as a service.
Under 20 days left in tax season! ;)
I'll recommend the following book.
(I know his other book about going in the other direction has good information.)
Pretty sure this was the book: http://www.amazon.com/dp/B000OCXHJA/ref=rdr_kindle_ext_tmb
I shouldn't have read it, I remember it making me ill at the time. The worst thing you can do is to have your income show up on a W-2.