A tax deduction reduces your taxable income by the amount of the deduction. So if you receive a $5,000 deduction, then your taxable income is reduced by $5,000. The tax savings is the product of the deduction and your marginal...Read More
I will never be one to “punish” people for becoming wealthy. I don’t believe that obtaining wealth is some type of sin. But when Warren Buffet speaks, I tend to listen. In 2010, Warren Buffet paid $6,938,744 in...Read More
I’m Will, the creator of HackingTheBank. No, this site isn’t about actually hacking banks. This blog is all about maximizing personal finance decisions so that we win instead of the banks.
I started this blog in 2010 when I graduated college with $43k of student loans and a negative net worth. Since then I’ve achieved milestones like getting married, buying a house, and tripling my income. During this time my wife and I managed to earn over 12,000,000 miles and points and used those points to travel to over 50 countries. And all of these points came from banks; neither of us travel for work.