19 Ways to Avoid the Obamacare Tax Penalty. (I Did a Happy Dance When I Got to #14.)

If you didn’t carry qualifying health insurance last year, then you could be facing a stiff Obamacare penalty tax when you go to file your returns this year. The penalty could be anywhere from a couple hundred dollars to a few thousand depending on your income.

So can you avoid the Obamacare tax penalty? Actually, yes. There are, in fact, 19 different exemptions that allow you to avoid the tax.

Continue reading 19 Ways to Avoid the Obamacare Tax Penalty. (I Did a Happy Dance When I Got to #14.)

Debt Blogging – The Biggest Benefit of a Public Debt Blog

I began this debt blog, which I called Debt Reduction Formula, in September of 2007.

That happened to be the same month I sold my home in Highlands Ranch, Colorado, and moved into a rental home in Parker, Colorado.

At the time, I owed $75,286.38 in debt. I was really feeling the pressure of the debt I owed and felt I needed to do something proactive to get it under control.

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Federal Debt Now Equals Total U.S. Economy

If you’re looking for inspiration to get out of debt, then you would definitely not want to look to the U.S. government. They’re setting a horrendous example… and then trying to pass it off as “no big deal.”

In my opinion, it’s only a matter of time before the U.S. debt load comes crashing down. But hey — I’m just a citizen. What do I know about economics and finance?

Good question. I’ll answer it in just a second. But first, from the article:

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Car Taxes – Know Your Tax Rate Before You Buy

This past fall, my mom decided to sell her 2006 Honda Pilot and upgrade to a new Pilot. My wife and I had been getting by with just our van for a few months, but we were ready to have a second car again.

So: Rather than go car shopping, we decided to buy my mom’s used Pilot. It had relatively low miles and was still in good condition. Plus, my mom was willing to give us a good price.

I called up USAA because they offer really good rates on car loans. I was already pre-approved, so the car loan was processed quickly. Of course, I had to decide how much of the car I wanted to finance, as well as if I wanted extra to cover the sales tax.

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Getting Out of Debt Not Always Straightforward

Getting out of debt is not always a straightforward process, especially if you’re self-employed like I am.

Last year, I made some business investments that didn’t pay off quite as well as I wanted. As a result, I had to tap my line of credit in late fall and again in January to pay taxes.

With a job, you have predictable income. But in business, cash flow can often be erratic and unpredictable.

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