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Initiative 195 has made the Colorado ballot for November. If it passes, this would change Colorado's state income tax from its current flat 4.4% to a graduated income tax (similar to how federal taxes work). Proposed Colorado State Income Tax Brackets As a result of these changes, it's estimated to raise Colorado revenues by about … Continue reading Colorado Initiative 195: State Graduated Income Tax
Someone reminded me today about Colorado's Senior Property Tax Exemption. While Colorado property taxes are actually relatively low, that doesn't mean they are $0, so this is worth checking out. We are not 65 so haven't been able to use it yet, but I realized that I had never written about it for those who … Continue reading Colorado’s Senior Property Tax Exemption
I just finished reading The Second Estate: How the Tax Code Made an American Aristocracy by Ray Madoff, a legal scholar and professor at Boston College Law School (no relation to that other guy). I highly recommend it (and it's a fairly short and easy read). (This podcast episode will give you the highlights.) The … Continue reading Book Recommendation: The Second Estate: How the Tax Code Made an American Aristocracy
I wrote a post a while back titled Financial Literacy in One Sentence. This was that sentence: Financial Literacy is spending less than you make, on the things that you value, and saving and investing the rest in low-cost, diversified index funds selected based on your investment time horizon. I still think it holds up. … Continue reading Asset Allocation for Tax Optimization
I've written previously about the incredible opportunity of using your HSA as a stealh retirement account (for those who can afford to do so). More recently, I wrote about a variation on that strategy for folks who were not maxing out their Roth contributions. Today's post is about a strategy that some very early retirees … Continue reading HSA Conversions for Very Early Retirees
This post comes with the usual caveat: I am not a tax expert and this is for informational purposes. One of the great things about the tremendous decrease in the cost and difficulty of investing (thank you Jack Bogle) has been that many more people are investing in stocks and bonds through brokerages like Vanguard … Continue reading The State Tax Deduction Many People Miss