The latest book review here at Richer by the Day is The Richest Man in Town: The Twelve Commandments of Wealth by W. Randall Jones.

W. Randall Jones had a wonderful idea to explore in his research which led to this book:  by interviewing the wealthiest person in towns large and small, all throughout the United States, he hoped to uncover common trends that led to their success.  The book is split into three parts.  First, background information about the project is given.  Next, the “12 Commandments of Wealth” are described.  These are the common traits Jones consistently found among the richest man or woman in each town (RMIT).  The final section described the lifestyles of the RMIT and gave a short biography of each man or woman.

I am excited by the premise of some some books.  For others, I am pleasantly surprised, despite my preconceptions.  In The Richest Man in Town I found the rare combination of both.  The idea behind the book set my expectations quite high, yet Jones was still able to exceed my expectations by a wide margin.  I ignorantly assumed that a book by the founder of Worth magazine would be dated, stuffy, elitist, and dull.  I sincerely apologize for those assumptions.  The Richest Man in Town was none of those things, was ripe with pop culture reference from the Simpsons to Zillow, and could better be described as destined for a place among the other breakthrough books on the rich, such a The Millionaire Next Door.

A premise of the book is

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With all of the many dates surrounding dividend payments, it can get a little confusing.  Here’s the full rundown.

When a company declares a dividend on their stock, they are agreeing to pay a set amount of money to each shareholder.  They set a specific date to use to determine who their shareholders are.  That eliminates the confusion of who is entitled to the dividend for shares that are bought and sold between the announcement and the payout.  So you might expect three dates to be given: the announcement date, the payout date, and the date used for determining shareholders.  Since stock transactions take three business days to settle, a fourth date is also given. Here’s what each of the dates mean:

Declaration Date - This is the date the dividend is declared, usually announced in a press release.

Ex-Dividend Date - The date on which purchasing the security no longer includes it’s dividend.  Buying on or after this date will cause the transaction to settle after shareholders are determined, so you’ll miss out on the announced dividend.

Record Date - The date shareholders are determined. Purchases must be settled by this date to be eligible for dividend payouts.

Payable Date - The date the dividend is actually paid.

Since settlement takes three business days, the ex-dividend date is typically

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There are many freebies and promotions available in the United States on Tax Day, April 15th.  Add any other deals I may have missed to the comments section and pass the word about these deals using your favorite form of social bookmarking.  Price and participation often vary for deals, so check with the company directly to see if the offer is available at your location.

Taco Del Mar: Register for an emailed coupon for a free taco at the Taxes Suck. Tacos Don’t promotional page.

Cinnabon: Free samples of Tax Day Bites (usually known as Classic Bites) from 5-8 p.m.

Papa Johns Pizza: Three free toppings with purchase of a large cheese pizza.  Order online and use coupon code “1040″ to get toppings at no additional charge.

McDonalds: Buy one Quarter Pounder with Cheese or Big Mac and get a second sandwich for just one penny.

McDonalds: Free chicken biscuit w/ med drink purchase before noon or free chicken sandwich w/ med drink purchase after noon.

McDonalds(with McCafe): Free small hot McCafes or medium iced McCafe Coffee.

MaggieMoo’s Ice Cream and Treatery: One free single-scoop of ice cream as part of their e-cone-omic ice cream stimulus package.

Chick-Fil-A: Make a purchase and

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Today, April 13th 2009, is the day in when working Americans have collectively earned enough income to pay their annual federal, state and local tax obligations. The calculation is performed each year by The Tax Foundation, which published its findings under its trademark name, Tax Freedom Day®.

The date is of little importance to the individual taxpayer, because local and state taxes affect when each of us has earned enough to cover our yearly taxes.  Still, it does show interesting trends for the country as a whole. This year’s date – roughly three and a half months into 2009– is the earliest date since 1967.

The current economic situation is largely the reason behind the early date.  Though income has been reduced this year, tax collections have been reduced even

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Many readers of Richer by the Day would be surprised to learn that I have an iPhone.  Isn’t the iPhone the gold standard example of exorbitant luxury spending totally at odds with someone who blogs about personal finance and frugality?  It turns out that my iPhone actually costs a lot less than you would think due to the many ways it saves me time, money, and even electricity.

Before we begin, note that I didn’t say the iPhone pays for itself, but that MY iPhone pays for itself.  Your use, lifestyle, and alternatives could make it even more cost effective for you or a horrible waste of money.  Here is the analysis for my situation.

Background and Assumptions

The smallest talk plan has almost always been sufficient for my cell phone needs.  In this analysis, I’m comparing the cost of my previous phone service to the iPhone.  My first assumption is that I need a cell phone.  My old Verizon plan came with a free phone and gave me 450 minutes plus 250 TXT messages for $40 + $5 + taxes and fees.  A 20% discount through my employer made my monthly bill $43.  The iPhone 450 minute plan, 200 TXT messages, and required Unlimited Data plan costs $40+$5+$30 + taxes and fees.  I again receive an employer discount (17%) so my total bill is $72 per month.  So the premium I pay for having an iPhone is $29 per month.  That’s the expense I’m trying to justify.

There are obviously some apps that save me money directly such as

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If you cannot pay the full amount you owe with your tax return (or on a notice the IRS sends to you), you can ask to make monthly installment payments using IRS Form 9465 - Installment Agreement Request. You will be charged interest (and possibly penalties) and a fee ($52-$105 depending on payment method) if your request is approved.

If you owe less than $10,000 in taxes, you are legally entitled to an installment agreement if you meet certain conditions, listed below.  Use IRS Form 9465 to request an installment agreement and attach it to your return.  Since interest and penalties will be assessed on the amount that is left unpaid, you should pay as much tax as you can when you mail in your tax return.  Use form 9465 to report the amount that you can pay each month.  Generally, you can have up to 60 months to pay, including interest and penalties.

Once the IRS receives your Form 9465, they will

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The latest book review here at Richer by the Day is False Economy: A Surprising Economic History of the World by Alan Beattie.

The stated aim of False Economy is to “explain how and why countries and societies and economies got to where they are today” without succumbing to fatalism.  Analyzing the past, it is argued, often leads to improper conclusions, since the eventual outcome is already known.  As such, ’causes’ of an outcome may have had far less actual influence than hindsight allows us to credit.  To prove the point, the author uses some events in US history that might have been used as evidence of the inevitability of failure, had failure of the US actually occurred.  For example, rather than import the graceful and artistic game of soccer from Europe after our independence, as isolationists we instead created the brutal and violent game of football in its place.

Comparisons have been made between Alan Beattie and Thomas Friedman, though after reading False Economy I doubt it will receive such popular support as the works of Friedman.  That is not to say that False Economy isn’t a good book –it’s quite good — just that the appeal is

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The recent Glenn Beck broadcast, which showed the similarities between the Roman symbol of fascism (a bundle of rods with an ax attached, symbolizing collectivism and power) and the design on the reverse of the Mercury Dime (introduced in 1916, with basically the same symbol described above), left many people wondering what the economic differences between the two ideologies really are.

Here’s a brief rundown:

Economic Control

Socialism - Seeks totalitarian control of the economy through direct state operation of production

Fascism - Seeks indirect control of the economy through domination of nominally private owners

Property

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As we grind ever closer to the impending 2009 IRS Income Tax filing deadline on April 15th, more and more people have been asking about how to get an extension.  The good news is the process is extremely simple.  The bad news is that though an extension will get you more time to file, if you owe money you’ll still have to pay by April 15th.

How to Get an Extension

According to the IRS website, if you are not able to file your federal individual income tax return by the due date, you may be able to get an automatic 6-month extension of time to file. To do so, you must file

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