The Money Cruncher, CPA
@themoneycruncher.bsky.social
A licensed CPA talking about personal finance.
I write http://TheCrunch.co for 10,700 readers
Not a financial/tax advice
I write http://TheCrunch.co for 10,700 readers
Not a financial/tax advice
He also further diversified his tax strategy by establishing a Grantor Retained Annuity Trust (GRAT) and moving 3,078,820 shares into it.
February 19, 2025 at 2:12 PM
He also further diversified his tax strategy by establishing a Grantor Retained Annuity Trust (GRAT) and moving 3,078,820 shares into it.
According to SEC filings, Jensen transferred 584,000 shares to this trust on December 28, 2012.
At the time, these shares were valued at ~$6.5 million.
He paid a small gift tax on the transfer.
At the time, these shares were valued at ~$6.5 million.
He paid a small gift tax on the transfer.
February 19, 2025 at 2:12 PM
According to SEC filings, Jensen transferred 584,000 shares to this trust on December 28, 2012.
At the time, these shares were valued at ~$6.5 million.
He paid a small gift tax on the transfer.
At the time, these shares were valued at ~$6.5 million.
He paid a small gift tax on the transfer.
I saw someone celebrating a $15,258 refund.
But it’s nothing to celebrate.
You gave the IRS a 0% interest loan for $15,258 throughout the year.
That’s $680 you could’ve earned with a 4.5% HYSA instead in a year. Adjust your W-4.
But it’s nothing to celebrate.
You gave the IRS a 0% interest loan for $15,258 throughout the year.
That’s $680 you could’ve earned with a 4.5% HYSA instead in a year. Adjust your W-4.
February 8, 2025 at 7:07 PM
I saw someone celebrating a $15,258 refund.
But it’s nothing to celebrate.
You gave the IRS a 0% interest loan for $15,258 throughout the year.
That’s $680 you could’ve earned with a 4.5% HYSA instead in a year. Adjust your W-4.
But it’s nothing to celebrate.
You gave the IRS a 0% interest loan for $15,258 throughout the year.
That’s $680 you could’ve earned with a 4.5% HYSA instead in a year. Adjust your W-4.
Big mistake beginners make with a Roth IRA:
Not investing within the account.
It happens more often than you might think:
Not investing within the account.
It happens more often than you might think:
January 17, 2025 at 2:00 PM
Big mistake beginners make with a Roth IRA:
Not investing within the account.
It happens more often than you might think:
Not investing within the account.
It happens more often than you might think:
Interestingly, in 2005, Bush established an Advisory Panel to understand how to simplify the tax code.
One of their ambitious Plan B proposals was to establish a progressive income-consumption tax with three different rates (15%, 25%, 30%).
One of their ambitious Plan B proposals was to establish a progressive income-consumption tax with three different rates (15%, 25%, 30%).
January 12, 2025 at 2:40 PM
Interestingly, in 2005, Bush established an Advisory Panel to understand how to simplify the tax code.
One of their ambitious Plan B proposals was to establish a progressive income-consumption tax with three different rates (15%, 25%, 30%).
One of their ambitious Plan B proposals was to establish a progressive income-consumption tax with three different rates (15%, 25%, 30%).
I also reviewed the IRS data for 2021, which showed that people making:
> $50,000 to $100,000 pay an average tax rate of 7.1% (tax/AGI)
> $100,000 to $200,000 pay an average tax rate of 11%.
> $50,000 to $100,000 pay an average tax rate of 7.1% (tax/AGI)
> $100,000 to $200,000 pay an average tax rate of 11%.
January 12, 2025 at 2:40 PM
I also reviewed the IRS data for 2021, which showed that people making:
> $50,000 to $100,000 pay an average tax rate of 7.1% (tax/AGI)
> $100,000 to $200,000 pay an average tax rate of 11%.
> $50,000 to $100,000 pay an average tax rate of 7.1% (tax/AGI)
> $100,000 to $200,000 pay an average tax rate of 11%.
On December 20, 2024, the Buckeye Institute filed an "Amicus Curiae brief."
Based on my understanding, the Buckeye Institute (not a party in the case) submitted a brief supporting the plaintiffs.
This means that they agree with the nationwide injunction.
Based on my understanding, the Buckeye Institute (not a party in the case) submitted a brief supporting the plaintiffs.
This means that they agree with the nationwide injunction.
December 22, 2024 at 2:05 PM
On December 20, 2024, the Buckeye Institute filed an "Amicus Curiae brief."
Based on my understanding, the Buckeye Institute (not a party in the case) submitted a brief supporting the plaintiffs.
This means that they agree with the nationwide injunction.
Based on my understanding, the Buckeye Institute (not a party in the case) submitted a brief supporting the plaintiffs.
This means that they agree with the nationwide injunction.
On December 17 2024, the District Court DENIED the government's December 11 motion
December 22, 2024 at 2:05 PM
On December 17 2024, the District Court DENIED the government's December 11 motion
DOJ also said "The government respectfully requests a ruling on this motion as soon as possible, but in any event no later than December 27, 2024, to ensure that regulated entities can be made aware of their obligation to comply before January 1, 2025."
December 22, 2024 at 2:05 PM
DOJ also said "The government respectfully requests a ruling on this motion as soon as possible, but in any event no later than December 27, 2024, to ensure that regulated entities can be made aware of their obligation to comply before January 1, 2025."
On December 13, the DOJ filed an emergency 279 page motion with the Court of Appeals
They concluded with: "The district court’s order should be stayed pending appeal. In the alternative, the injunction should be narrowed to the companies specifically identified in the lawsuit"
They concluded with: "The district court’s order should be stayed pending appeal. In the alternative, the injunction should be narrowed to the companies specifically identified in the lawsuit"
December 22, 2024 at 2:05 PM
On December 13, the DOJ filed an emergency 279 page motion with the Court of Appeals
They concluded with: "The district court’s order should be stayed pending appeal. In the alternative, the injunction should be narrowed to the companies specifically identified in the lawsuit"
They concluded with: "The district court’s order should be stayed pending appeal. In the alternative, the injunction should be narrowed to the companies specifically identified in the lawsuit"
On December 5, the Department of Justice filed a Notice of Appeal.
The appeal essentially said, "We appeal the decision to grant the plaintiffs’ motion for a preliminary injunction."
The appeal essentially said, "We appeal the decision to grant the plaintiffs’ motion for a preliminary injunction."
December 22, 2024 at 2:05 PM
On December 5, the Department of Justice filed a Notice of Appeal.
The appeal essentially said, "We appeal the decision to grant the plaintiffs’ motion for a preliminary injunction."
The appeal essentially said, "We appeal the decision to grant the plaintiffs’ motion for a preliminary injunction."
There’s still 115 days left to contribute to a Roth IRA for 2024.
You don’t have to max it out. Just put as much as you can.
Your future self will thank you.
You don’t have to max it out. Just put as much as you can.
Your future self will thank you.
December 21, 2024 at 1:57 PM
There’s still 115 days left to contribute to a Roth IRA for 2024.
You don’t have to max it out. Just put as much as you can.
Your future self will thank you.
You don’t have to max it out. Just put as much as you can.
Your future self will thank you.
This “economist” predicted the S&P 500 to collapse almost 1 year ago.
In reality, it’s up 27% YTD.
Don’t pay attention to clickbait, just continue to invest for the long term.
In reality, it’s up 27% YTD.
Don’t pay attention to clickbait, just continue to invest for the long term.
December 16, 2024 at 2:01 PM
This “economist” predicted the S&P 500 to collapse almost 1 year ago.
In reality, it’s up 27% YTD.
Don’t pay attention to clickbait, just continue to invest for the long term.
In reality, it’s up 27% YTD.
Don’t pay attention to clickbait, just continue to invest for the long term.
7. I-bonds - 3.11%
The interest rate on a Series I savings bond changes every 6 months, based on inflation.
The interest is received when you cash in the bond.
You can buy it directly from TreasuryDirect. Taxes are deferred until cashed.
The interest rate on a Series I savings bond changes every 6 months, based on inflation.
The interest is received when you cash in the bond.
You can buy it directly from TreasuryDirect. Taxes are deferred until cashed.
December 15, 2024 at 2:54 PM
7. I-bonds - 3.11%
The interest rate on a Series I savings bond changes every 6 months, based on inflation.
The interest is received when you cash in the bond.
You can buy it directly from TreasuryDirect. Taxes are deferred until cashed.
The interest rate on a Series I savings bond changes every 6 months, based on inflation.
The interest is received when you cash in the bond.
You can buy it directly from TreasuryDirect. Taxes are deferred until cashed.
6. $USFR ~ 4.52% yield
USFR is a Treasury ETF holding floating rate notes (FRN).
It holds a group of 2 year FRNs and pays out a monthly yield.
State and local tax exempt.
USFR is a Treasury ETF holding floating rate notes (FRN).
It holds a group of 2 year FRNs and pays out a monthly yield.
State and local tax exempt.
December 15, 2024 at 2:54 PM
6. $USFR ~ 4.52% yield
USFR is a Treasury ETF holding floating rate notes (FRN).
It holds a group of 2 year FRNs and pays out a monthly yield.
State and local tax exempt.
USFR is a Treasury ETF holding floating rate notes (FRN).
It holds a group of 2 year FRNs and pays out a monthly yield.
State and local tax exempt.
5. Certificate of Deposit (CD) - 4.6-5%
A CD is a savings account where you agree to keep your money in the account for a set period of time.
It is FDIC insured
Example:
• First Bank of The Lake 7 month CD - 5%
A CD is a savings account where you agree to keep your money in the account for a set period of time.
It is FDIC insured
Example:
• First Bank of The Lake 7 month CD - 5%
December 15, 2024 at 2:54 PM
5. Certificate of Deposit (CD) - 4.6-5%
A CD is a savings account where you agree to keep your money in the account for a set period of time.
It is FDIC insured
Example:
• First Bank of The Lake 7 month CD - 5%
A CD is a savings account where you agree to keep your money in the account for a set period of time.
It is FDIC insured
Example:
• First Bank of The Lake 7 month CD - 5%
3. $SGOV - 4.50%
If you don't want to buy T-bills directly, the iShares 0-3 Month Treasury Bond ETF can be a good choice.
It's state and local tax exempt.
You can also buy the Treasury MMF at Vanguard ($VUSXX), Fidelity or Schwab.
If you don't want to buy T-bills directly, the iShares 0-3 Month Treasury Bond ETF can be a good choice.
It's state and local tax exempt.
You can also buy the Treasury MMF at Vanguard ($VUSXX), Fidelity or Schwab.
December 15, 2024 at 2:54 PM
3. $SGOV - 4.50%
If you don't want to buy T-bills directly, the iShares 0-3 Month Treasury Bond ETF can be a good choice.
It's state and local tax exempt.
You can also buy the Treasury MMF at Vanguard ($VUSXX), Fidelity or Schwab.
If you don't want to buy T-bills directly, the iShares 0-3 Month Treasury Bond ETF can be a good choice.
It's state and local tax exempt.
You can also buy the Treasury MMF at Vanguard ($VUSXX), Fidelity or Schwab.
2. Treasury Bill ladder - 4.35%
If you want to buy T-Bills directly and avoid expense ratios of ETFs, T-bill ladder is a great choice.
It's a strategy to spread your money across several T-bills with different maturity dates to improve liquidity.
If you want to buy T-Bills directly and avoid expense ratios of ETFs, T-bill ladder is a great choice.
It's a strategy to spread your money across several T-bills with different maturity dates to improve liquidity.
December 15, 2024 at 2:54 PM
2. Treasury Bill ladder - 4.35%
If you want to buy T-Bills directly and avoid expense ratios of ETFs, T-bill ladder is a great choice.
It's a strategy to spread your money across several T-bills with different maturity dates to improve liquidity.
If you want to buy T-Bills directly and avoid expense ratios of ETFs, T-bill ladder is a great choice.
It's a strategy to spread your money across several T-bills with different maturity dates to improve liquidity.
🚨 Shocking statistic:
2,044 IRS employees have balances due totaling more than $12 million for one or more tax periods that are not on any installment agreement.
Why does the IRS employ people who can't even pay their own taxes?
2,044 IRS employees have balances due totaling more than $12 million for one or more tax periods that are not on any installment agreement.
Why does the IRS employ people who can't even pay their own taxes?
December 15, 2024 at 2:09 AM
🚨 Shocking statistic:
2,044 IRS employees have balances due totaling more than $12 million for one or more tax periods that are not on any installment agreement.
Why does the IRS employ people who can't even pay their own taxes?
2,044 IRS employees have balances due totaling more than $12 million for one or more tax periods that are not on any installment agreement.
Why does the IRS employ people who can't even pay their own taxes?
This is why some financial advisors get a bad reputation.
I personally would be hesitant to invest in something with an expense ratio of 0.25% or higher.
I personally would be hesitant to invest in something with an expense ratio of 0.25% or higher.
December 12, 2024 at 7:35 PM
This is why some financial advisors get a bad reputation.
I personally would be hesitant to invest in something with an expense ratio of 0.25% or higher.
I personally would be hesitant to invest in something with an expense ratio of 0.25% or higher.
Incredible tax strategy:
December 11, 2024 at 8:44 PM
Incredible tax strategy:
Currently, his and wife's trusts own 59,368,560 shares due to stock splits within the GRAT, which are now worth around $8.5 billion (see SEC filing).
So, what's the main benefit of GRATs, and how is he avoiding estate taxes?
So, what's the main benefit of GRATs, and how is he avoiding estate taxes?
December 11, 2024 at 2:07 PM
Currently, his and wife's trusts own 59,368,560 shares due to stock splits within the GRAT, which are now worth around $8.5 billion (see SEC filing).
So, what's the main benefit of GRATs, and how is he avoiding estate taxes?
So, what's the main benefit of GRATs, and how is he avoiding estate taxes?
However, he didn't stop there.
According to SEC filings, he further diversified his gift and estate tax strategy by establishing a Grantor Retained Annuity Trust (GRAT) and transferring 3,078,820 shares into it.
According to SEC filings, he further diversified his gift and estate tax strategy by establishing a Grantor Retained Annuity Trust (GRAT) and transferring 3,078,820 shares into it.
December 11, 2024 at 2:07 PM
However, he didn't stop there.
According to SEC filings, he further diversified his gift and estate tax strategy by establishing a Grantor Retained Annuity Trust (GRAT) and transferring 3,078,820 shares into it.
According to SEC filings, he further diversified his gift and estate tax strategy by establishing a Grantor Retained Annuity Trust (GRAT) and transferring 3,078,820 shares into it.
On Dec 28, 2012, Jensen transferred 584,000 shares to the trust, valued at ~$6.5 million at the time based on the SEC filing.
Today, after accounting for stock splits, those shares are worth an estimated $3.3 billion.
Today, after accounting for stock splits, those shares are worth an estimated $3.3 billion.
December 11, 2024 at 2:07 PM
On Dec 28, 2012, Jensen transferred 584,000 shares to the trust, valued at ~$6.5 million at the time based on the SEC filing.
Today, after accounting for stock splits, those shares are worth an estimated $3.3 billion.
Today, after accounting for stock splits, those shares are worth an estimated $3.3 billion.
Perfect stock for some tax loss harvesting:
December 11, 2024 at 2:27 AM
Perfect stock for some tax loss harvesting: