Carolyn Culp, EA, ATA

Carolyn Culp, EA, ATA I have been a professional tax accountant since 1977 with offices located in Kansas and California.

07/15/2026

You're not bad with money.

Well, you might be, BUT....

Money is just genuinely harder than it used to be.

Here's what the same life costs in 2026 versus 2000:

• Average Home: $119,600 → $398,800
• Health Insurance: $6,348/yr → $26,993/yr
• Energy: $865/yr → $2,000/yr
• Coffee: $3.21 → $9.00
• Gas: $1.48/gallon → $3.10/gallon
• Beer: $0.91 → $2.00

Now here's the part that stings.

The average salary in 2000 was $42,148.

Today it's $83,730.

Salaries roughly DOUBLED.

But look at that health insurance number again.

$6,348 to $26,993.

That's a 325% increase.

Your paycheck went up 2x. Your health insurance went up 4x. Your home went up 3x.

This is why a good salary doesn't FEEL like a good salary anymore.

You're not imagining it. You're not overspending. The math has genuinely changed on what it costs to live a normal life in America.

So what do you actually do about it?

• Track your biggest fixed costs first. Housing, insurance, and transportation are where the real pressure is hiding.

• Avoid lifestyle creep every single time your income goes up. The raise should build margin, not fund a bigger lifestyle.

• Build breathing room BEFORE adding any new debt. Most people are one unexpected expense away from chaos because there's zero buffer.

The goal isn't to spend less on coffee.

The goal is to get control of the BIG three before the big three control you.

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07/15/2026

If you're sending your child to a summer day camp, you may be eligible to claim the cost through the Child and Dependent Care Credit. Learn more from the : www.irs.gov/dependentcare

07/15/2026

Increased Standard Mileage Rates Starting July 1, 2026

Due to higher fuel prices, the IRS has increased the standard mileage rate for business driving to 76 cents per mile for mileage incurred on or after July 1, 2026. The rates for medical travel and eligible moving expenses have also increased to 23.5 cents per mile.

The charitable mileage rate remains unchanged at 14 cents per mile, while the previously announced 2026 rates continue to apply to mileage incurred before July 1.

07/14/2026

Paper checks are more likely to be lost, stolen, altered, or delayed than electronic payments. Provide the your account information when filing your return to get your tax refund directly into your bank.

Join the age of electronic options: irs.gov/directdeposit

07/14/2026

Most of us were taught how to get a job.

We were not taught how money actually works, how wealth is built, or why some people seem to have more of both regardless of how hard they work. The classroom taught us to be employees. The rest, we were expected to figure out on our own.

Robert Kiyosaki mapped it clearly in a framework most people encounter far too late: there are four ways people earn money, and only two of them build real financial independence.

The Employee trades their time for a salary. One person, one income. When the work stops, the money stops. There is stability here, but no leverage.

The Self-Employed also trade time for money, but own their own job rather than someone else's. A freelancer, a consultant, a solo practitioner. They have more control and often more pride, but they are still the engine. If they stop, everything stops.

The Business Owner builds a system. Instead of doing all the work themselves, they build something that other people and processes run. Their income is multiplied by the contributions of others. They earn even when they are not present.

The Investor puts money to work. Their capital earns regardless of where they are or what they are doing. Money generates more money. Income becomes independent of their time or presence.

Most people spend their entire working lives on the left side of this diagram. The goal is not to abandon the left side overnight. The goal is to understand it clearly and to begin intentionally building toward the right.

Financial knowledge is not taught in schools.

It is built, slowly, by the people who decide to teach themselves.

07/14/2026

Happy Independence Day! If you own rental property, did you know you might be able to deduct things like mortgage interest, property taxes, and repairs? If you use your place as a vacation home, too, there are special rules to keep in mind. The days you rent it out versus the days you use it yourself can make a difference.

Get all the details from Publication 527 or from this tip: https://ow.ly/X68t50Zhj2e

07/14/2026

The is simplifying penalty relief. The new Automatic Exemption from Penalty, or AEP, is a systemic administrative relief program that provides penalty relief for taxpayers with a history of filing and paying on time. AEP applies to eligible original returns beginning with tax year 2025 and 2026 quarterly returns, as well as future tax periods. https://ow.ly/1KzR50ZlL2N

07/14/2026

Social media is great for sharing cuteness, but not for solid tax advice. The warns that inaccurate or misleading tax info shared on social media could lead to steep civil and criminal penalties for those who take the bait. www.irs.gov/scams

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