This summer, many students will be taking on summer jobs. However, many are unaware of the tax consequences involved with employment. Additionally, many students fail to establish a savings goal. For example: 1. Form W-4, Employee’s Withholding Allowance Certificate must be completed. Employers use this form in order to withhold taxes from your paycheck. The [...]
So you have a lot of credit card debt? So what now? Many people find themselves in this situation and feel helpless and hopeless. The key is to not give up. There are many resources out there to help you. Among them are: Credit counseling: There are several nonprofit agencies out there dedicated to [...]
Credit card balance transfers are very common. We usually think we are getting a good deal if we are offered a zero percent APR balance transfer. This is a great offer. However, too often we fail to think about the long term effects of a credit card balance transfer. For example, can you avoid incurring [...]
Many people have already discovered this great new way to save. What is it you may ask? Tax time is a great time to save because many people receive refunds. In 2010 President Obama created the tax time Savings Bond Program. The program gives tax payers the opportunity to put away part of their refunds [...]
I came across this great article on Americasaves.org. Many people have difficulty saving for one reason or another. In this article, the writer shares some great tips to help and encourage people to save. The topics that she discusses are listed below: Does the Cost of Living Keep You from Saving? Do You Find [...]
I recently came across an article about why women should save more for retirement. Interesting I thought. So I kept reading. The primary reason that we should save more is because we tend to outlive men. And the longer we live, the more we need in retirement savings. This means that it is important [...]
I wrote this blog two years ago as a means of encouraging readers to prepare for the New Year. Well, two years later, this message is still relevant as the times have not changed much from the prior years. Therefore, this message bears repeating. As 2010 draws to a close, many are hopeful for significant [...]
The week of October 17th-23rd is designated as National Protect Your identity Week. This week is geared towards educating the public about identity theft and how to protect yourself and the ones you love. The website protectyouridnow.org has several resources that will help you with this endeavor. Other useful tips that you can follow include: [...]
During the course of tax season, many people make mistakes when preparing their returns. Some of the most common involve the filing status, number of dependents, total income and deductions. Other mistakes such as computational errors are usually corrected by the IRS. Corrections to your return should be made using Form 1040X, Amended US Individual [...]
Identity theft is so prevalent these days. It is too easy to have your social security number stolen. It has actually happened to me. Someone stole my identity and filed a tax return using my social security number. Luckily for me, I caught it early and was able to prevent any major damage to my [...]
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