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Why Black Wealth Barely Exists
When we say black wealth barely exists, we are being generous. Blacks as a group have owned less than one half of one percent of the total wealth of this country from the end of slavery until 2016. With the inherent disadvantages and economic opposition blacks have been able to prosper as a group in pockets of the country. Harlem was an economic hub, Jackson Ward in Virginia, of course Tulsa Oklahoma and a few others. These Black communities were self sustained and maintained by black commerce. Blacks Americans were industrious opening factories and small businesses perfecting crafts right out of slavery.
Taxes and Wealth
If there is one thing I can guarantee in life, it will be that you are going to pay taxes. The way taxes are treated for individuals are different from the way it is treated as a business.
Four Lesser-Known Strategies for 1031 Exchanges
Learn more about the IRS tax deferral using a 1031 exchange. These alternatives can help you plan ahead.
Are You Eligible To Deduct Work Expenses As An Employee?
The typical answer to whether you can deduct work related expenses as an employee is "No, you have to be a business to do that." Yes, there are deductions for union dues or pension contributions that affect all workers, but there are also deductions for employees for certain types of expenses depending on what you do for a living. The most common occupations for these types of deductions are commission salespeople, people working at a home office, tradespersons, long-haul transport employees, clergy, artists and musicians. Almost any occupation can qualify depending on the work arrangement you have with your employer.
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