The idea of lifestyle creep is the slow build-up of “necessary” expenses as your income increases. I myself have experienced a bit of it in my career, noticing small purchases that I used to consider luxuries as being more commonplace. What I want to touch on in this article, however, is something I think is […]
Have you ever seen an election season so dedicated to the intricacies of taxes? Mitt Romney must be glad he paid accountants to run the numbers, since just 4 years ago I seem to recalls number of issues with TurboTax. So yes, I’ve never heard this much ranting and raving about taxes, even though the last time a very rich person from Massachusetts ran for President there were many similarities. So, let’s talk a little bit about two different things – ‘Marginal’ rates and ‘Effective’ rates.