It used to be that if you had $10,000 excess income, you could use it to buy $900 worth of stock, bonds, and other financial instruments or you could spend the entirety of that $10,000 on something you tell the IRS you plan to use for business purposes.
Now, if you are $10,000 over the line, you can turn $6,300 into stocks, and double your money in 4-5 years. There’s no point in actually spending your money anymore; just keep rolling the excess into the means of making more.
Rivalarrival@lemmy.today 5 days ago
Absolutely.
It used to be that if you had $10,000 excess income, you could use it to buy $900 worth of stock, bonds, and other financial instruments or you could spend the entirety of that $10,000 on something you tell the IRS you plan to use for business purposes.
Now, if you are $10,000 over the line, you can turn $6,300 into stocks, and double your money in 4-5 years. There’s no point in actually spending your money anymore; just keep rolling the excess into the means of making more.