At the end of each month, I post an update of my net worth,
including a brief discussion of any notable events that might have
occurred. The latest month's figures can
always be found under the Featured menu in the menu bar at the top of
the blog.
Last updated: End of March, 2019
Net Worth: $950,528
Change from last Month: +$15,683
Events Of Note Last Month:
My SQL courses on Udemy generated $59.91 of income. My courses on SkillShare, meanwhile, earned $47.10. I've decided to scale back on my courses. More details on that next week.
Taxes
Well, this year was better than last year. For the last three or four years, I've had to pay thousands of dollars in taxes come April, despite dramatically increasing the amount withheld from our paychecks each year. For 2018, we're actually getting a $6,199 refund! Yay!If we didn't have the Tesla $7,500 tax credit, we would have owed about $1,300. My accountant attributes this to the fact that the IRS changed the tax withholding rates last year. Less money is being withheld each paycheck due to the decrease in tax brackets, but when they set the withholding rates, the IRS did not account for the loss of many deductions - such as the $10,000 deduction cap on state and local taxes, mortgage interest, etc. You may have heard about this last year. There were a ton of stories advising people to adjust their tax withholding.
Given that we are having an extra $7,200 in taxes withheld during the year, I didn't bother adjusting our withholding. Between that extra and the $7,500 Tesla tax credit, I figured we'd be OK.
And we were. We're still getting money back. I'm not going to bother adjusting my withholdings for 2019 either because the purchase of my wife's Tesla qualifies us for a $3,750 tax credit for 2019. If things stay the same for 2019, we should get a refund next year as well.
Net Worth Update
We had a big increase in our net worth this month: over $15,000! |
 |
| February 2019 | March 2019 |
Our Property category increased due to the new car we bought at the beginning of the month. Our loan amount also went up, as we took a loan for the vehicle. The rest of the gains came from increases in our stock portfolio and our home value.
Oh, and hey... Look there... We're sneaking up on a net worth milestone....
If you have any questions or suggestions for topics, please drop me a line in the comments section!
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