How TAX Deductions Help?

I'm pretty sure you were entertained and learned from my last blog about taxes. Well guess what? I'm back to spice up one of the most boring topics on the planet. Don't get me wrong, some people love taxes. Those are the people you want in your circle. They can help you actually get a return or come out even. Nobody likes to owe. Let's get started.

Below are deductions that you may or may not be aware of. If you have something to add, please share below in the comments. We all can learn from you. Tell us some other ways to deduct. You know you want to.

Ex-claimer: I am not a crook! I mean, I'm not a tax professional. I just like to learn and share. And ALL titles will be MOVIE titles. And in the comments below, tell me what your favorite 5 movies are. This is going to be FUN! None of the below are mine. I'll share mine in the comments.

Mile 22 or Ride Along

The IRS will allow you to count mileage, but you may have to prove it. So don't just lie that you drove 50,000 miles last year when your job is across the street. I would invest in a FREE mileage app to track you mileage. It won't be accurate, but it will give you a good average estimate. Once you get the mileage, look up the standard IRS mileage deduction rate. I believe it's 58 cent. Correct me below please. Example would be, if you drove 10 thousand miles last year, you multiply by 0.58 (10,000 x 0.58).

"Ernest Goes to Camp" for Tax Reduction

Sounds like a bad sequel to one the 1987 classic titled, Ernest Goes To Camp. Highly recommended film if you like corny movies. But yes, you can deduct day camps only. They fall under gyms or day care facilities. Get the camps information from last year and save. You'll need the camps name, address and Tax ID number.

Enemy of the State

If you paid State Taxes last year, then you can claim that for a deduction. I even learn this one this year. So, remember to add your State tax itemized deduction from last year to the state income taxes withheld from your paychecks last year. And I emphasize "Paychecks" because the average american is working two jobs or more.

By The Light of the Silvery Moon

This is for Home Owners only. Don't skip though, you will own property one day. You can get a federal tax credit for making significant home improvements to you home. If you credit appliances (no toasters) that save energy to your home or add solar panels to name a few. It's called the Residential Renewable Tax Credit. Solar, wind, geothermal and full cell tech are eligible. This policy will only be honored until 2021. Comment below if there was an extension or you know more about this please. Thanks.

Doctor Dolittle (There's different movie versions)

If your in a weight loss, swimming class and exercise program, you may qualify for a deduction. The only catch is, you have to have a doctors note. I like this one, but it's hilarious. Just reminds me of High School when I had to acquire passes to go to the bathroom. I need a pass to wipe my back region. LOL. This scenario can also relate to if you were in a drug or alcohol rehab facility. And all the above need to relate to a health problems for qualifications. Don't try to get a fake Doctor's Note. I know what your thinking.

The End! The end of my tips, but please share yours in the comments. 

Thanks again for taking the time out of your day to read and view my other adventures. I promise you quality and entertaining content, if you comment and share my blogs. Thanks in advance. 

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Marquis J. Walker

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Have FUN With Your Money! (Ball Out of Control)

Okay readers. Don't read this and blame me for you going broke again. I'm just adding a FUN post to those that are out of debt, saving and investing correctly. Please read my other blogs and watch my YouTube content to get to this stage. Please subscribe, follow and comment on all my platforms.Thanks in advance!

Now that you have money to burn and you want to have fun with your extra savings from investing and all your endeavors, let's spend it. 

Below are fun bucket list of items that you will enjoy with your love ones and friends. And if you have ideas, please share with us in the comments.

If I Ruled the World (Explore)

You know you've thought about it. Who hasn't? The average cost to fly or cruise around the world is between $15,000 - 200,000. It will vary of course on your destinations. And to make money while you travel, rent out your home with Airbnb. Remember to always make money before you spend money. Developing passive income will allow you to travel the world. My other blogs will clarify.

Shower with a Love One

The title is a bit misleading, but I like to grab your attention. Spend that extra dough on showering a love one with flowers and gifts. Can you imagine your significant other coming home like Kim did when Kanye showered her with roses? I'm pretty sure if he was in the dog house, he was reinstated to the bedroom that night. And it doesn't have to be romantic items. Find something they love and surprise them. I'm pretty sure you will get lucky as well.

Eat Fancy (Don't Understand the Menu)

Find an expensive restaurant and act like you have no sense. Of course do it with class though, you may want to come back. Get items on the menu you cannot pronounce. Or travel to another State or Country to eat. If you have recommendations for my readers, comment below. And what's the most expensive place you've put on your palate?

Lucy In The Sky With Diamonds (Deliver a sky message)

I've always wanted to do this. Babe, if your reading this, act surprise if this happens in the near future. You see these sky messages everywhere promoting clubs in Miami, sports teams, a business in Boston or just something to do with the military. They range from $2,500 - 4,000 which seems high for some thick clouds forming a message, but live a little. Show the person you love, you would go above and beyond for them. Many people do sky writing for Marriage proposals. I'll congratulate you now on your engagement.

Move B!$(%! Get out the Way! (Relocate)

This is a life decision that could be overwhelming, but could be the best move you've ever decided. If you are stable enough to move to another State or Country, do it. America is okay, but I'm pretty sure if you do your research, there are other places that you may like better. The key word is to explore. While your vacationing with all this new money, take mental or actual notes on your experiences. Florida is overcrowded with retirees, expand your mind.

Go on a Safari (Go see your Zodiac)

This is something on my list already. I'm going to visit Africa and adventure out. I'd like to not only see the animals present, I'd like to see and speak with all the beautiful people of our Mother Land. I can only imagine the animals being free in there natural habitat. Our Zoo's are inhuman. Comment below if you have ideas to improve our Zoo's. I'm not a fan of the Zoo premise, but it's the closets I've been so far to wildlife. I'm grateful with a bit of guilt flourishing throughout my heart. Keep in mind, a Safari can cost up to $8,000 - 11,000.

I'm Burning Man! 

Not sure if you heard of the Burning Man. It's an event that happens once a year and they transform a part of the Nevada's Black Rock Desert to create "Black Rock City". All are welcome for temporary metropolis dedicated to community, art and self expression. If your not spiritual, I wouldn't advise the trip. If your mind is open to it, you will experience a lift changing event. And it's not expensive. For most packages, they only run from $500 - 1000. It's highly recommended you do all research on all events I'm listing. Especially this one.

"It's on me!"

Have you ever wanted to ball out and just pay for everyone's bill? I have. Well at least, their drinks. Not trying to be in debt again. Please make sure you have the funds too. Check your credit or cash situation first. I could see it now. (Dream Sequence)

You walk in a bar Western style with your high boots and spurs. Use your imagination please. The bar tender looks at you mean with a piece of straw in his mouth. He spits it out and ask you, what would you have scoundrel? You confidently stare at him like you are the new Sheriff in town. You flip a gold coin (your credit card) in the air and it lands hard on the bar. "Every Rascal and Scoundrel gets one free drink on me!" and then you spit out your straw you been chewing. You get the point. 

Rent a castle 

How romantic is this one? Fellas, you can thank me later. Ladies, you can as well. But, how cool would it be to rent a castle? Our entire lives as children we were told stories about castles. One's with dragons and princesses to save. If I was you, I'd make sure the castle is free of dragons. Princesses too! I heard Princesses are bossy. You didn't hear that from me. And renting a stay at a castle isn't that expensive. They range from $100 - 1,700. I'm smiling just thinking about how I'm helping you save your relationships. You can thank me by supporting my Princesses apparel line below. Thanks in advance.

Hire Beyonce to Sing!

Have you ever wanted to be serenaded by your dream star? Now it's possible. With the right price, Jay-Z or Jennifer Lopez could have your attention. They can range up to $100,000 - 1 Million Dollars. I always think of Austin Powers when someone says, "One Million Dollars!" Youngsters, go watch the classic Austin Powers movies. Beyonce is actually in one of them. It's very pricey, but if you can afford it, why not. I'm pretty sure one hit wonder artist are cheaper. I wonder how much Skee-Lo is? Ask around for me please. "I wish I was a little bit taller! I wish I was a baller!"

Mike Tyson bought a what? (Buy Exotic)

One of the most famous boxers, Mike Tyson had a couple of tigers once. He was in the prime of his life, making millions of dollars and he bought a couple of tigers. I wouldn't go this extreme based on my above comments on Zoos, but what about a exotic house cat? Or some type of breed of dog that people have to ask about. Maybe a reptile. All animals need love.

Shop for Wants Finally

This is the one everyone's been looking for. An excuse to spend on your wants. If your money is right, do it like Nike. Buy a fancy bag or a nice coat. Take others shopping that need things. Go to Hollywood and shop the strip. I'm cheap, so I don't know all the spots to go to. Please help me with this one below. Add some shopping spots that will make you think twice about the purchase below. Whatever you do, budget for it as well. A billionaire once told me, "My passive income pays for my wants."

Jeep, Lex Coups, Bimaz & Benz (Dream Car)

Your dream car is starring at you online or on that parking lot. You see it. You want it. You think you need it. Even though most cars devalue when they leave the lots, some are collectibles. I would look into something you can always sell for profit or not loose much on. Whatever you buy, enjoy it. Be safe, but drive fast when you can. A little over the speed limit doesn't hurt. Just don't let the State or Local Police catch you. I'm not paying for your ticket. Your foot was on the accelerator, not mind. And remember, don't drink and drive.

Marquis J. Walker
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7 Places Your Money Needs To Go

The Hip-Hop Financial Learner is back to share more information. Welcome back and thanks for reading my other blogs as well. Your presences is appreciated and necessary. Thanks in advance.

Today I'll be speaking on 7 Places Your Money Needs To Go. Please join in conversation on my this topic below in the comment section.

1. 401K 

Before you see your check, at least 5-15 percent of your check should be invested in your 401K. And if your employer matches, please consider this. Your older self will thank you now.

2. Needs VS Wants

This one is my favorite. I've been preaching this issue nearly my entire life. I was so proud to see my daughter actually practicing this while in High School and College. I love you pumpkin. I love you Baby Girl. She's going to be like, "DAAAAD!"

Basically, you need shelter, food, drinks, transportation, healthcare, HVAC and utilities. What you want is the issue. You want to eat out everyday or weekend. You want to buy the new Fendi Bag. You want to take a ride share. Patience is key. Will power is really needed at this stage. Will power mixed with patience and dedication.

Do what I do. Tell your family and friends YOU ARE BROKE and your money is tied up in investments, which is the goal.

3. Emergency Fund AKA "Just In Case...."

In life there are plenty of emergencies from losing a job, medical expenses, car issues, home repairs or unplanned travel expenses. And I'm aware that saving is very difficult, but anyone can do it. Even that Geico Cave Man.

The most important thing that an Emergency Fund does, is it relieves most of your stress. Can you imagine having enough money saved up, that you can vacation whenever you want. What about not stressing about losing your job. Having an Emergency Fund can free your mind. Now I'm thinking about that En Vogue song, "Hold On."

4. Paying off Debt AKA "Put the Credit Cards Down Please!"

Hopefully your not in debt. If you are, let me help you. I have various other blogs that go into detail on getting out of debt. Please check those out. Also, check out my daughter's and my clothing lines below. Thanks in advance.

Whatever debt you have, make it a priority to pay it off. Your going to be so relieved when you do. That's when you will be able to invest in yourself and become financial stable. A good way is to pay off your highest debt first. Some people do the opposite. Either way, just do it like Nike.

5. Checking and Savings

Number 5 should of been number 1 to me. Now I'm thinking about that Biggie Smalls song, "Ten Crack Commandments." Anyway, most people have these accounts in a brick and mortar banks. Check out these online banks that give you between 1.5% - 2.05% interest. Please Google on your own please. Remember, I'm not a Financial Adviser. I'm a Financial Learner that shares information that you can Google.

6. Roth IRA

A Roth IRA in the USA is usually not tax upon distribution. It's encouraged to add $6,000 dollars a year into your Roth IRA. If your pockets are not deep yet, start off with less. It will take 500 dollars a month to acquire the $6,000. If that is not in your playing cards, start off with only 50 or 100 dollars a month.

7. More Investments AKA "Mo Money, Mo Money, Mo Money!"

Now that you Financial Stable by following the above steps, lets invest some more. Investing in yourself is priceless. Your goal is to retire early. And if you are in a later stage in your life now, you still have time to live. Get out there and cross out that bucket list.

Or invest in your love ones. Family if very important to me. Teach them how to get where you are. Hopefully you are bringing them along with your journey presently. And if your love ones are good with your money, share it. Donate to the unfortunate. Look into tax write offs. Do what the RICH people do. Oh yeah, you at this point you are the RICH.

Once again, thanks for taking time out of your schedule to read and support me. I really appreciate you. And I'll answer any question below. And again, please support one of my families side hustles below. We have that Merch!

Marquis J. Walker
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