Tax Return is Finished
I finished our tax return today. I’m leaving town on Tuesday for a few days so I had to wrap up early. The only thing that surprised me about this year’s return is that we got hit with a small bit of the AMT – alternative minimum tax. This development demonstrates how skewed the AMT has become. We have no tax-sheltering activities except for 401(k) deferrals. We pay a giant heap of tax every year. The AMT was not designed for people like us yet there it is, raising its ugly head on our return. Thanks Congress for this nice gift of illogic.
A few interesting reads this week:
Moolanomy published a piece about investing lessons to learn from our lost decade. I agree with the lessons but I’m not so sure the lost decade period has ended.
The AARP offers its take on gold investing. The price of gold peaked in December 2009. Did everyone sell? I don’t think so. The so-called buy indicators (e.g., bad news in the world) haven’t substantially changed but the price has fallen. Sorry gold fans, I just don’t get it. It’s not investing, it’s gambling.
Time Magazine published an article about financially bribing young children to do the right things in school. I don’t care if it “works” for some kids. Let their parents bribe them. Don’t use my money. Better yet, for the kids that must be bribed to perform, let’s pay their parents not to have any more kids.