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Groco Weekly
Weekly Wealth Building Tips Issue #136
February 18th, 2008

 

in this issue...
  • Tax and Accounting Due Dates
  • 5 Steps to Becoming a Millionaire
  • Reducing Risk With a Diversified Portfolio
  • Six Keys of Wealth Building

  •  
    5 Steps to Becoming a Millionaire

    In the year 2002, there were 17.1 million Millionaires in the U.S. By 2013, the number of millionaires will triple due to inheritance. For the rest of you, becoming a millionaire is within reach if you apply a 5 step plan involving the areas of Health, Spending, Savings, Investing, and Career.


     
    Reducing Risk With a Diversified Portfolio

    With a diversified stock portfolio, risk is reduced because different stocks rise and fall independently of each other. On a broader scale, combinations of different investment assets may well cancel out each other's fluctuations in price, reducing the overall risk.


     
    Six Keys of Wealth Building

    There are keys to wealth and success that those who have attained them understand. If you wish to build wealth and achieve success then it's crucial to implement the keys discussed below. As you read them, please understand that you can practice them too!


     

    IRS Circular 230 disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advice contained in this document is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter that is contained in this document.


     
    Tax and Accounting Due Dates
    This tax calendar has the due dates for 2008 that most taxpayers will need. Included are a General Tax Calendar and an Employer's Tax Calendar.

    The Employer's Tax Calendar covers various due dates of interest to employers. Principally, it covers the following federal taxes.

     

    • Income tax you withhold from your employees' wages or from nonpayroll amounts you pay out.
    • Social security and Medicare taxes (FICA taxes) you withhold from your employees' wages and the social security and Medicare taxes you must pay as an employer.
    • Federal unemployment (FUTA) tax you must pay as an employer.

     

    Read On...
     


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