- Bowls. These are the new plates. They are Instagram friendly. You certainly can't have a meal without taking a selfie of it first and posting it to the world for posterity's sake.
- Legal Marijuana. Americans are buying more of this than they are of bottled water. A whole host of entrepreneurs have stepped into this market - Whoopi Goldberg being the latest ganjapreneur. She's started a company to provide access to medical marijuana to women.
- Stuff in Canada. Due to a weakening of the Canadian dollar, imports from our neighbors to the north have become more attractive. We just hope that they don't export Justin Bieber. We'd rather they keep him.
- Adult Diapers. As the baby boomers enter into the golden years, this market has exploded.
- Fast Food Hot Dogs. Burger King has entered into a hot dog war with 7-Eleven and Checkers/Rallys with the launch of the Whopper Dog. The hot dogs are not very appealing... they probably should have put them in a bowl.
Minimizing tax burdens should be a priority for everyone. Understanding the difference between taxable and non-taxable income is key
Examples of taxable income:
- Your salary, less any money put into a retirement plan.
- Interest on bank accounts
- Interest on all bonds except municipal (tax-free) bonds
- Dividends on investments
- Severance pay, bonuses, and sick pay from your employer
- Unemployment compensation
- Capital gains on mutual funds and other investments
- Bartering, royalties, gambling and lottery winnings
- Most withdrawals from an individual retirement account or annuity
Examples of non-taxable income:
- Money contributed to retirement accounts such as your 401(k) or IRA
- Gifts from anyone (subject to limitations)
- Disability income on benefits you paid with after-tax money
- 401(k) money rolled over into another plan
- Child support receipts
- Money received by you as repayment for a loan