Daily Investment Tips

Words of wisdom from Mark Cuban, billionaire owner of the Dallas Mavericks:

 . . . Go out there and get rich. Get so obnoxiously rich that when that tax bill comes, your first thought will be to choke on how big a check you have to write. Your 2nd thought will be “what a great problem to have,” and your 3rd should be a recognition that in paying your taxes you are helping to support millions of Americans that are not as fortunate as you. . . . While some people might find it distasteful to pay taxes. I don’t. I find it Patriotic.

I’m not saying that the government’s use of tax money is the most efficient use of our hard-earned capital. It obviously is not. In a perfect world, there would be a better option. We don’t live in a perfect world. We don’t live in a perfect time. We live in a time where the government plays a big role in an effort to help lead us out this Great Recession. That’s reality.

So I will repeat my point. Get out there and make a boatload of money. Enjoy the shit out your money. Pay your taxes.

written by Constantine Njeru \\ tags: Billionaire Owner, Boatload, Dallas Mavericks, Efficient Use, First Thought, Mark Cuban, Owner Of The Dallas Mavericks, Pay Taxes, Paying Taxes, Paying Your Taxes, Perfect Time, Perfect World, Recession, Tax Money, Words Of Wisdom

Christian Lopez, the baseball fan who caught Derek Jeter 3000th hit could end up paying the IRS $13,000 in taxes. The reason is Christian Lopez handed the ball back to Yankees and Yankees rewarded him with goodies.

Christian Lopez Taxation

Christian Lopez was rewarded by the Yankees with luxury box tickets for the rest of the season (including postseason), along with signed baseballs, bats and jerseys from Jeter. In addition, Lopez received four premium front-row seats to last Sunday’s Yankees-Rays game. With those generous gifts comes tax liability.

The IRS will likely consider Lopez’s gratuities from the Yankees as income, and if so, he could end up having to pay anywhere from $5,000 to $13,000 in taxes, according to the New York Daily News.

written by Constantine Njeru \\ tags: Baseball Fan, Baseballs, Bats, Derek Jeter, Front Row Seats, Game, Generous Gifts, Goodies, Gratuities, Irs Taxes, Jerseys, Last Sunday, Nbsp, New York Daily News, Paying Taxes, Tax Irs, Tax Liability, Taxation, Yankees, York Daily News