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Your Financial Security Is Money Domination

You need to take control of the way your money is handled. Financial domination should be your ultimate goal as you journey on toward the pinnacles of success. Choosing how to control your finances is perhaps just as important as the college you choose or the career path you plan to follow. Realize this now: What you do from this moment on will affect your life until the day you die. That's right. If you make some poor investments, bad judgment call or money mistakes, it can and most likely will come back to haunt you. This is especially true for budding entrepreneurs ambitious enough to seek their fortunes and master their futures.

This first part is for the entrepreneurs seeking success by starting their own businesses online. For you financial domination equals tax domination. When you've got bills flowing in as fast as your money it can be very tempting to "dip your hand into the till", as they say. But before you do that consider the consequences. You only need to owe the government over $1,000 in taxes before you start paying penalties for not paying during the year. Listen up Ebay sellers! That much needed tax return can turn into a payment to the government if you rack up enough sales to owe money. Find out the current tax rate and start tracking that income! Contrary to popular belief, your sales are considered income as long as you make more than you paid for the item you're selling. Even items gifted to you are taxable. Ours is a pay-as-you-go tax system. If you suspect you’ll make enough money that your tax return won't cover the full amount, you need to make estimated tax payments throughout the year. To give you a better view as to whether or not you owe taxes - if you make a net of over $400 then your income is taxable.

Financial Domination And Your Career

Financial domination for those with careers means making the right investments. If you're comfortable playing the stock market or day trading, these might be areas you want to consider to help secure your future. But it's not a good idea to simply invest in one area. After all, many investments involve a degree of financial risk. You’ve no doubt heard the buzz word "diversified portfolio". Well that's exactly what you want. A diversified portfolio in layman's terms means a financial portfolio that has various kinds of investments. There may be stocks, bonds, foreign currency, gold, silver and other areas of investment to make sure that if there is a loss, it won't necessarily be a major one that completely wipes out your funds. Making the right choices can be the difference between retiring in style or working the rest of your life to make ends meet.

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