heh! I’m in the top 6.2%.

Just a piece of caution when discussing personal wealth - check your assumptions twice!

This calculator doesn’t take into account purchasing power parity. It takes the exchange rate so that means that even though someone in some part of the world may make less $$$ than you, he may still have a better lifestyle.
Second thing is that the fact that it shows that we are in the top 1% doesn’t show how rich we are, it shows how poor the world is.

@Jon: I think Furley was easier on the three’s company than harsh-browed Roper.

@Shanel: Office Space is one of my fave movies due to its rich characterization and rebuking of the corporate status quo. Several other misunderstandings in that film led to havok — and that scene you mention is a really fine example.

@Juliet: If it’s really important to know, then you should ask. Simply be forthright and friendly. Some things are worth letting go and making new friends who’ll be supportive.

Remember this: if you’re polite in asking and things get awkward or “worse”, it’s due to your friends not having the same open-mindedness and experienced perspective that you do. It’s up to them to open up and grow with you or stay stunted.

Thanks,
Brian

Regularly supporting charities is not hard, just make it a part of your budget. It should be a high priority in everyone’s budget - if it’s not, ask yourself why?!

Most people think -expenses- when they think IRS receipts but the most financially critical record in the case of an audit is -income- receipts.

Yes, it is important to keep tax deductible receipts, of course. However, what most people don’t realize is that you should also
1. Keep your DEPOSIT/TRANSFER receipts (teller and ATM and WEB)
2. WRITE ON THEM what they ARE

The first thing an auditor will do is take your bank statements and add up all the deposits. Then they subtract your gross reportable income. They arrive at a difference and say — so what’s this?

If you have these deposit/transfer receipts — you may be able to show that you were paid $1000 from your job into checking and then you transferred $500 of that into your savings.
The IRS sees this as $1500 of income if you can’t show that it’s only $1000 in income and $500 in transfer.
Yes really, they do.

That’s why it’s also important to keep REFUND receipts and any receipts that show any kind of INCOME.
Bought a $2000 TV and then returned it? Well on your bank statement, that would show $2000 income and THEN $2000 payout from Best Buy. Without the refund receipt, that equals $4000 in income. Yes really, it happens.

Yes folks, this is a real life account of what I spent four years of my life compiling to demonstrate what was not income on exactly these kinds of things in US Tax Court.

So I will disagree with Lorie’s financial advice on this one (even though I LOVE her organizational ideas). Your best receipt organization is finding a good system to capture/sort/organize them. I used to do it by month but then realized that any audit would ask you by category – they don’t care which month, only which fiscal year but they do absolutely care what it is. Transfer/Refund/BusinessExpense/Charitable etc. Also, it saves you tons of money if you already have all that stuff electronic. Because you certainly don’t want to photocopy every receipt and fed ex it out to the IRS – far better to send a CD.

And if you put a good system in place, doing your taxes will be a breeze!