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INSURANCE

You May Be Covered Even If You Try To Cash a Bad Check

By The BIDaWIZ Team on April 12th, 2012 at 10:00 am

Have you ever gotten a bad check from someone and were charged by your bank along with not getting the money? If so, you may be covered and not even know it. Read More.

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TAX SAVINGS

These Expenses Are Surprisingly NOT Deductible

By The BIDaWIZ Team on April 11th, 2012 at 4:30 pm

We’re in crunch time now with tax season as personal returns or extensions must be filed by next Tuesday, April 17th. Before filing, tax filers should review the return carefully to make sure that all of the expenses claimed are in fact tax deductible. Read More.

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MORTGAGES, TAX PLANNING

Major Tax Break May Expire For Homeowners That Are Underwater

By The BIDaWIZ Team on April 10th, 2012 at 5:00 pm

The February 2012 existing home sale figures indicate that 34% of the homes sold were at deep discounts (20% due to foreclosures and 14% due to short sales). Homeowners that are currently underwater need to be aware of the tax break that is scheduled to expire at the end of 2012. Read More.

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BANKRUPTCY QUESTIONS, FINANCIAL ADVICE

Will My Credit Be Impacted If My Business Files For Bankruptcy?

By The BIDaWIZ Team on April 6th, 2012 at 1:00 pm

While bankruptcy rates are on the decline from a high of almost 61,000 fillings in 2009, there were still nearly 50,000 businesses that failed in 2011. If your business is on the brink of collapse, it is important to identify if your personal credit will be impacted by a bankruptcy filing. .
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TAX ISSUES, TAX PREPARATION

What If You Can’t Afford To Pay Your Taxes?

By The BIDaWIZ Team on April 6th, 2012 at 10:00 am

Individuals may have more difficulty paying their taxes on April 17th as compared to previous years. This year, the first tax payment is due for converting your traditional IRA into a Roth. You may have also cashed out your 401K or other retirement account early because you were strapped for cash. Don’t panic, there are steps you can take to reduce penalties and maintain good standing with the tax authorities. Read More.

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FINANCING

Should I Seek A Business Term Loan Or A Line Of Credit?

By The BIDaWIZ Team on April 5th, 2012 at 10:30 pm

Most businesses just starting out or looking to expand or fill a production order, will need outside financing. Should they seek a term loan or a line of credit? .
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TAX PLANNING

Will The Dividend Tax Rate Rise in 2013?

By The BIDaWIZ Team on April 5th, 2012 at 6:00 pm

We're back to the waiting game of trying to figure out if the dividend tax rate will rise as scheduled on January 1, 2013. Back in 2010, we were in this same predicament but Congress decided to kick the can down the road and extend the Bush tax cuts. Will it happen again? Either way, let's explore the consequences so we can prepare for each outcome. .
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TAX SAVINGS

Is A Pet a Valid Tax Deduction?

By The BIDaWIZ Team on April 5th, 2012 at 12:00 pm

There are many taxpayers that actually claim their pets as a dependent on their tax returns. To set the record straight, in almost all circumstances, a pet is not a valid tax deduction. However, there are certain instances in which the pet can be deductible. Find out if your pet qualifies. Read More.

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TAX SAVINGS

Are There Any Tax Breaks For Owning a Vacation Home & Renting It?

By The BIDaWIZ Team on April 4th, 2012 at 10:00 pm

Sometimes taxpayers that own vacation homes miss out on some valuable tax breaks. This may impact you because believe it or not, the IRS considers many types of dwellings a vacation home: house, condo, co-op, RV, house trailer, and even a boat with cooking, sleeping, and restroom amenities. What are the potential tax breaks and should I also consider renting it out? Read More.

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TAX PLANNING

The 2011 IRA Contribution Deadline Also Impacts High Income Earners

By The BIDaWIZ Team on April 3rd, 2012 at 4:00 pm

The April 17th deadline for individuals to file their tax returns is quickly approaching. That's not the only deadline that tax filers should be thinking about. IRA holders (both Traditional & Roth) have until the tax filing deadline to contribute to their retirement accounts. .
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