Unlike a mortgage or a auto loan, a personal loan can be used for almost any purpose. It’s set up for a specific length of time at a fixed interest rate which is typically lower than most credit card APRs. Many banks and credit unions offer personal loans and now there is a whole new market of peer to peer lending networks established by companies like LendingClub and Prosper. Read More.
If you haven’t filed your 2010 tax return and claimed your refund yet, you may be one of the 918,600 taxpayers that are owed $760 million in 2010 tax refunds. The IRS estimates more than half of the refunds are for at least $571. Read More.
Many parents incur significant expenses during the year to care for their children. The IRS recognizes this and provides tax benefits for families with children. In addition to claiming an exemption for each child that qualifies as a dependent, there are a couple of tax credits that can help families reduce their tax bill. Read More.
We recently sat down with Tara Lynn Wagner from NY1’s Money Matters to discuss what taxpayers can expect when choosing a preparer for the upcoming tax season. Read More.
In most cases, filing jointly yields more tax benefits than filing separately. Having said that, there are still instances in which you may not want to file jointly and rather elect to file separately. Are you filing to maximize your tax savings and to ensure that you are maintaining compliance with tax reporting requirements? Read More.
If you travel to work and pay for parking or use public transportation, you should be mindful of the pre-tax benefit you can receive by setting aside part of your paycheck for those costs. Many employers offer a pre-tax commuter benefit program through companies such as WageWorks to help you save on taxes and commuting costs. Read More.
For some tax filers, their tax bill this year will be greater than in the past. Specifically, certain taxpayers in the 35% tax bracket last year may see that figure increase to 39.6%. In addition, if you have sold a business or had large capital gains this year, your tax bill will likely be higher for your 2013 tax return. How will you be impacted and what can you do to still save on taxes? Read More.
Seniors that have hit hard times may be forced to make a difficult decision. Do they sell their investments to stay afloat or should they tap into their home equity? If they are considering tapping into their home equity, the rules regulating reverse mortgages have recently changed for the better. Find out if a reverse mortgage is an option you should consider. Read More.
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