The world of investing can be scary to those who are new to investments or have had a bad prior experience. A person who invested in the Standard & Poor’s index of 500 selected stocks (S&P 500 index), a broad-based measure of the market, at the end of 2006 and who exited the market at...
We must be very watchful when it comes to tax relief. Allow me to jog up your mind a little before I go any further because I know you are dealing with the burden of catching up on your back taxes. But what if you fail to pay tax? Your first reaction is to panic....
At the risk of recounting anxieties here that are no doubt familiar to pretty much, anyone, reading this: times are tough at the moment. Being a single parent isn’t exactly a walk in the park at the best of times, but the state of the economy has further complicated the prospect of parenting without a...
Most people in the modern world live with some sort of debt looming over them. Those that have the means and the determination can use that debt to their advantage while those that struggle regularly with making ends meet can get buried by their debt. The most difficult part of having debt involves getting too...
It’s easy to see why the idea of filing your own taxes may be a daunting prospect. There are different forms with seemingly random numbers, countless tax codes written in minuscule fonts, and vast numbers of black and white pages. The sheer length of the 2013 edition of the Standard Federal Tax Reporter—nearly 74,000 pages—is...
F.J. Raymond is credited with saying, “Next to being shot at and missed, nothing is quite as satisfying as an income tax refund.” While this may be a bit of an exaggeration a large tax refund can indeed make you feel like Christmas came twice. Nobody takes great pleasure in filing income tax forms. But...
What Happens To Taxes And Insurance In 2014? As President Barack Obama enters his last two years of presidency, many Americans are wondering what kinds of new taxation and insurance changes to expect for the future. Throughout the next year, there will be several new changes that all taxpaying citizens of the United States will...
Clients ask about how they can be prepared against always changing tax laws. One of the certainties of modern taxation is constant, unending change. Perusing the Congressional Budget Office’s (CBO) “Reducing the Deficit: Spending and Revenue Options”, convinces any thoughtful person that changing tax laws are inevitable. Preparing for new tax laws while considering how...
When it comes to income tax, it is no mystery that there are large variances state by state. In fact, some states have no income tax liability. Many of these states pick up the difference with changes in sales tax, property tax, and corporate taxes. There are seven states in total that have various ways...
The end of the tax year is fast approaching and as everyone rushes to maximize their tax-free savings first direct has compiled some tips to help negotiate the tricky waters. Get a grip on your finances – work out how much you have in savings, what rate of interest you’re receiving, and whether you’re taking...