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P&L and T&A (Or, How to Read an Income Statement)

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Greg McFarlane is an advertising copywriter who lives in Las Vegas and Lahaina. He recently wrote Control Your Cash: Making Money Make Sense, a financial primer for people in their 20s and 30s who know nothing about money. Buy the book here (physical) or here (Kindle) and reach Greg at Greg at ControlYourCash dot com. […]

Gains & Losses: What Will Be Taxed and What Can I Claim?

Gains & Losses- What Will Be Taxed and What Can I Claim-

When you sell an asset its tax treatment is determined on whether or not the asset is considered a “personal asset”. If it is, then you are taxed on the profit but cannot deduct a loss. If it’s not a personal asset then you are taxed on the profit but can also deduct a loss if you have one.

Why Most Budgets Fail (But Yours Doesn’t Have To)

Mint allows you to categorize transactions from multiple accounts.

My first time wasn’t until I was a college freshman. I was 19. I could tell you that I wanted everything to be perfect, but honestly, I just wanted it to work. I knew what I had to do, but I had no idea how to do it. I’m talking, of course, about my first […]

Your Down Payment: Sources Of Cash To Buy Your First Home

Want to buy a home? Nine times out of 10, you’re going to need a down payment. Only VA loan programs for qualified veterans and active military personnel offer loans with no down payment. And even if your lender doesn’t require it, a down payment is still a good idea, as it it’ll save you […]