Financial Connections

02/05/2023

Another song for tax season. Please enjoy!

The official promo video for 'Money' by Pink Floyd, taken from the album 'The Dark Side Of The Moon'. 50th anniversary of Pink Floyd's 'The Dark Side of the ...

02/01/2023

One of the best tweets I saw this week! While he's talking about investing, the same things work if you own and run a business.

“The better the investor, the simpler the questions. When I started, I was obsessed with jargon, complex questions and spreadsheets. Now I ask things like “what does it do?”, “why do people buy it?”, and “why are you selling?”. And I never do more math than I can fit on a napkin.”

01/31/2023

A little "tax music" as we roll into the season.

Provided to YouTube by Universal Music GroupTaxman (Remastered 2009) · The BeatlesRevolver℗ 2009 Calderstone Productions Limited (a division of Universal Mus...

01/25/2023

https://www.danpink.com/pinkcast/pinkcast-4-31-this-is-how-to-solve-problems-more-effectively-with-one-simple-change/?utm_source=Dan+Pink%27s+Newsletter&utm_campaign=ad845319d6-Pinkcast_Jan24&utm_medium=email&utm_term=0_4d8277f97a-ad845319d6-313712465

LINKS AND FURTHER READING: The study mentioned in this Pinkcast is "Does Could Lead to Good? On the Road to Moral Insight," conducted by Ting Zhang, Joshua D. Margolis, and Francesca Gino.

12/30/2022

Running a business is tough! Control spending? Borrow? Here's one thought on how Santa might run his business.

12/09/2022

To follow up, what if you were a victim of some sort of online investment scam? Maybe the infamous pig butchering scam where you're convinced that someone can make you money with no risk. So you give them some and then a little more money. Then, surprise, all the money is gone. You think you have a loss, but think again. If the loss doesn't qualify for the Madoff/Ponzi exception, you get no deduction for the loss. Out of luck. So let's be careful out there. Be wary of unknown text messages etc.

12/09/2022

Are you a customer of the crypto exchange FTX? If so the IRS Ponzi rules may help you. If you have an FTX account, your taxes are going to be a mess this year! And it could be months or years before you can deduct your losses. A lot depends on whether Sam Bankman Fried is charged with a crime. A lot depends on the Bernie Madoff scandal. Of course Bernie scammed 40,000 people while FTX is probably over one million!

If the IRS classifies FTX as an investment theft loss, you may be able to deduct the full loss..... sometime. But there are a lot of rules. For now, expect to file an extension to gain more time and see what clarifications the IRS might issue.

12/02/2022

“A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.”

Wise words from Winston Churchill. One reason I have his photo in my office.

07/01/2022

Here's a great illustration that we can all understand. It's the Big Mac index. Prices are going up!

🍔 Big Mac Index (the 🟢 green line) measured in 💰 M3: All Money (the 🔴 red line) to adjust it for inflation. See the effect of inflation on prices.

12/16/2020

Santa's 13 Days of Christmas in the Nineties. Four days before Christmas, the government gave to me...greetings of our closeness yet to be.