Category Archives: Taxes

Financial Regrets From This Past Year and What I’ll Do Differently In ’09

Although we are financially secure and tend to make wise decisions regarding our finances, we still screw up sometimes and do things that we later regret. We’re human. However, while we may have regrets I choose to look at them … Continue reading

Posted in Investing, Personal Finance, Relationships, Saving Money, Shopping, Taxes | Tagged , , , , , , , , , | 10 Comments

Financial Lessons from my Creditors

It’s become quite fashionable to attack credit card companies or banks who hold our mortgages, especially with the recent turmoil in the financial market. While talk of increased regulation and pointing the finger of blame may each have their place … Continue reading

Posted in Credit Cards, Education, Personal Finance, Taxes | Tagged , , , , , , | 2 Comments

Do You Really Save Money on Tax Free Weekends?

Now that back to school season is upon us, my state and many others are promoting their upcoming tax free weekends. These are the weekends where you can buy items from certain categories and escape the state and/or local sales … Continue reading

Posted in Education, Personal Finance, Shopping, Taxes | Tagged , , , , , | 2 Comments

Coupons Are Taxable – Why Do We Have To Pay Sales Tax on Them?

It seems everything is taxable — even coupons! I never questioned the small print on the coupons I use, at least not the part about the customer paying sales tax. (I don’t understand why a manufacturer can say a coupon … Continue reading

Posted in Personal Finance, Shopping, Taxes | Tagged , , , , , , | 12 Comments

Should You Take One For The Team?

“Falling housing market.” “Possible recession.” “Troubled economy.” These phrases have been buzzing around lately in the media. Real estate prices were going up and many people decided to buy more house than they could afford with unconventional mortgage terms. Now … Continue reading

Posted in Personal Finance, Taxes | Tagged , , , | 5 Comments

Just Call Me Unpatriotic

If you haven’t heard, the government is devising an “economic stimulus package” to jump start the economy. While the details aren’t yet final, it appears that the majority of American workers and retirees will be getting some rebate money from … Continue reading

Posted in Taxes | Tagged , , , , , | 8 Comments

Are Friendships and Family Relationships Taxable?

Before money existed, people exchanged goods and services through bartering. Even after money became the logical solution to the problem of finding someone who could offer what you wanted and wanted what you had to offer, bartering remained a viable … Continue reading

Posted in Personal Finance, Relationships, Taxes | Tagged , , , , , | 5 Comments

Is the Fair Tax Really Fair?

I recently stumbled upon the idea of a different tax system that some are advocating our country change to called The Fair Tax. I don’t know if my head has been in the sand about this or if many other … Continue reading

Posted in Taxes | Tagged , | 29 Comments

Payroll Tax Exemptions ($10 Question)

When it comes to how much money the government keeps out of your paycheck, there are often a lot of questions. You don’t want to be giving the government a free loan of your hard earned money, but at the … Continue reading

Posted in Personal Finance, Taxes | 5 Comments

Selfish Reasons to Give Money Away

One basic fundraising rule is to tell potential donors what’s in it for them. It sounds strange that charities would appeal to donors’ sense of self-interest rather than to their sense of charity, but that’s what they do, albeit subtly, … Continue reading

Posted in Personal Finance, Taxes | 1 Comment

Is Putting a 20% Down Payment on a House Realistic?

I understand the argument behind the advice of putting at least a 20% down payment on a house purchase. No one wants to pay private mortgage insurance and the idea of getting two different loans to avoid it isn’t that … Continue reading

Posted in Budgeting, Debt, Housing, Investing, Personal Finance, Retirement, Saving Money, Taxes | 31 Comments

Student Loans: How to Pay Them Off and Build Wealth

By David John Marotta and Beth Anderson Nedelisky The average college student graduates with almost $20,000 in student loans. While this is a daunting sum, it is still possible to build wealth even while paying off student debt. But earning … Continue reading

Posted in Budgeting, Debt, Education, Investing, Personal Finance, Taxes | 37 Comments

Employee Retirement Options

By David John Marotta Putting all of your retirement eggs in one basket is easy to carry, but risky. Most workers are putting all their retirement assets in the basket of their employer’s retirement plan. They are depending on one … Continue reading

Posted in Investing, Personal Finance, Retirement, Taxes, Work | Leave a comment

Kiddie Tax Loophole Dead – UGMA & UTMA Now a Poor Choice for College Savings

By David John Marotta and Beth Anderson Nedelisky Income-shifting is one of several tax planning tools families have used to lower their tax bill. Historically, parents could save a bundle by transferring highly appreciated investments to their children who are … Continue reading

Posted in Personal Finance, Saving Money, Taxes | 4 Comments

Should You Be Saving Those Home Improvement Receipts?

A few weeks ago, I discovered a hardware store receipt among some papers my in-laws had given us. Because my father-in-law works in maintenance, I called them to see if he needed the receipt for reimbursement from his job. No, … Continue reading

Posted in Housing, Taxes | 6 Comments

10 Ways Working Can Cost You

You’ve probably heard before that it doesn’t always make sense for both adults in a household to work because the second spouse’s income is all taxed at the marginal rate. When childcare costs are factored in, there can be little-to-no … Continue reading

Posted in Making Money, Saving Money, Taxes, Work | 6 Comments

The Student Loan Tax Break Information Loan Brokers Won’t Tell You

I think almost every week I hear someone who makes over $70k a year mention their wonderful student loan interest tax deduction. It’s time to take a few minutes to educate the masses about the student loan interest. Plain and … Continue reading

Posted in Debt, Education, Taxes | 6 Comments

Why Giving A $10,000 Tip Is A Bad Idea

There is a story making it’s way around about a waitress that received a $10,000 tip and what a wonderful gesture it was. No doubt about it, except that because of the way it was given, the waitress is going … Continue reading

Posted in Personal Finance, Saving Money, Taxes, Work | 8 Comments

Why You’re Likely To Be In A Higher Tax Bracket When You Retire

Something has been bugging me about IRAs lately. Most of the time I read an article or discussion about Traditional IRAs, as opposed to ROTH IRAs, I see that it is a pretty common assumption that income tax rates will … Continue reading

Posted in Investing, Retirement, Taxes | Tagged , , , | 9 Comments

Why The Poor Are Crazy To Save Money

Here’s a question. You don’t have a whole lot of money and I want you to save more. So I create a plan where for every dollar you save, I will take away $2.60 worth of benefits from you. How … Continue reading

Posted in Retirement, Saving Money, Taxes | 29 Comments