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The 5 Most Common Tax Questions, Answered
Tweet Share on Facebook March 29, 2012 Comment (2)As the April 17 tax deadline draws nearer, procrastinators across the nation are feeling the pressure to get their 1040s in on time. However, what often holds these taxpayers back from filing in a timely manner is a major question regarding their tax situation with an elusive or confusing answer.
According to search engine analytics data, there are five questions surrounding taxes that individuals are constantly looking for answers to on the Web. So here they are--the top five most common tax questions, answered:
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6 Ways Families Can Save on Spring Vacation
Tweet Share on Facebook March 28, 2012 Comment (2)Spring seems to have arrived earlier-than-expected this year. The trees are already blooming, and temperatures are rising to heights not normally seen until May. With spring break right around the corner, you may be wondering how you're going to pay for an entire vacation week with the kids.
Rather than charging it all to your credit card and worrying about the bills later, save some dough instead. A little creativity goes a long way, and your bank account will be better off for it.
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When Will My Tax Refund Arrive?
Tweet Share on Facebook March 27, 2012 Comment (6)Depending on who you ask, tax season is either winding down or ramping up and coming down to the wire. For the proactive taxpayers out there who have already filed, the next question you must be asking is: Where is my tax refund? If you're due a check from the government for a few thousand dollars, it's perfectly understandable that you're anxious to know where your money is.
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7 Smart Ways to Cut Costs on Your Next Vacation
Tweet Share on Facebook March 26, 2012 Comment (1)As the economy continues to recover at a steady pace, vacations could be making their way back into the budget. A vacation could be just what you need to break away from your usual routine, try something new, and explore a new locale. You could also use some of that vacation time to just relax on the beach or stay at an all-inclusive resort–and you don’t have to spend a fortune to enjoy it. Planning ahead and seeking out some great deals on travel packages can help you plan an unforgettable vacation on any budget.
Here are seven smart ways to cut the costs on your next vacation:
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The Costly Tax Trap of Debt Forgiveness
Tweet Share on Facebook March 23, 2012 Comment (4)A lot has been written about forgiveness. Perhaps Mark Twain described it best: "Forgiveness is the fragrance that the violet sheds on the heel that has crushed it.” But for our purposes, Oscar Wilde had the right perspective: “Always forgive your enemies--nothing annoys them so much.” And that brings us to the tax consequences of forgiven debt.
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6 Tips for Living Without Your Unemployment Benefits
Tweet Share on Facebook March 23, 2012 Comment (11)The U.S. unemployment rate is now 8.3 percent, down 0.2 percent from last December. It's been on a steady decline since October 2009, when a then-current 10.9 percent at the height of the economic downturn--the highest in 27 years--wasn't exactly the country's proudest or most industrious time.
Although current unemployment statistics sound promising for people in search of work (with 243,000 jobs created this past January, according to reports), there's a great deal of speculation that genuine jobless numbers are significantly higher than what's been suggested. Last June, Forbes echoed a sentiment lamented by many a job seeker: That the official employment rate, according to the magazine, doesn't include people who are underemployed, have stopped looking for work, or whose unemployment benefits have expired.
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4 Discounts You're Earning But Not Using
Tweet Share on Facebook March 22, 2012 Comment (1)Looking for your next big discount? This time around, you might want to skip the Google search and coupon blogs and look a little closer to home. Chances are, you’re already eligible for a ton of discounts just by using the services and memberships you’ve already signed up for. Your bank, your Costco membership, and your Facebook account are all excellent discount resources if you know where to look. And that’s just the beginning.
If you’re not already taking advantage, now’s definitely the time to start. You’ll be well on your way to saving extra money in no time. To get you started, here are four types of discounts that aren’t frequently advertised, but just might apply to you.
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3 Tax Credits That Pay You Money
Tweet Share on Facebook March 20, 2012 Comment (2)Most people do not like paying taxes, and don't want to pay any more than the law requires. Identifying all the tax deductions and tax credits that you qualify for can help reduce your tax liability. If you are eligible for refundable tax credits, you can even reduce your tax liability below zero. This means the IRS pays you.
Deductions reduce your tax liability by reducing the amount of income that is taxable. For example, if you have a $1,000 tax deduction and are in the 25 percent tax bracket, your tax liability will be reduced by $250.
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5 Smart Spending Strategies for a Tough Economy
Tweet Share on Facebook March 19, 2012 CommentWhen a tough economy is making it hard to make ends meet, it may be time to rework your household budget. Spending less isn’t always feasible, so you need to make better choices about what you spend your money on and identify your priorities. Reorganizing your budget can help you get a better handle on your current cost of living and also provide some valuable information about your savings potential. You can only scale back on expenses when you know what you’re actually spending money on. During tough economic times, keeping track of your daily purchases can help you spend smarter.
Here are five smart spending strategies when enduring a tough economy:
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4 Tax Scams to Watch Out For
Tweet Share on Facebook March 16, 2012 Comment (3)Tax scams occur throughout the year, but they reach their peak during tax season. Taxpayers must be careful to avoid these scams, which can lead to significant penalties and interest--and even possible criminal prosecution. The IRS has released a list of some of the most common tax scams to help taxpayers know how to spot them.
