An index to help you make better money decisions, 60 seconds each.
Taxes decisions.
6 decisions documented in this category.
How 6 weeks of patience halves your tax bill
I sold the investment in May. If I had waited six weeks, the tax bill would have been half.
I wanted out. The market was bumpy and I had been holding for eleven months and three weeks. I did not stop to ask what changes at twelve months.
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Why EOFY spending rarely saves you tax
I spent $4,000 in June to get a tax deduction. My refund was $1,400. The math never worked.
I told myself I was being smart with tax. I was being smart with tax on money I would not have spent otherwise.
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Why tax refunds disappear faster than salary
A bonus, a refund, or a gift hits my account. By the weekend it is gone. My salary always lasts weeks.
Same money. Different label in my head.
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Why retirement top-ups never happen on time
I have meant to top up my retirement savings before the deadline for three years. Three years, I have not.
Each year I told myself this would be the year. Each year the deadline passed without me deciding either way. The not-deciding was the decision.
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Claim hundreds more in deductions next year
I have not updated my tax deductions in three years. My situation has changed twice.
The work expenses I am entitled to claim are not being claimed. Money is leaving every paycheck that did not need to leave.
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Save $500 to $1,500 tracking WFH expenses
I work from home three days a week. I have never tracked a single expense for tax.
Every year I tell myself I will keep records. Every year I have a pile of receipts I never collected and a deduction I cannot claim.
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