Health Insurance Enrollment Process

Prepare financially for a Stay-at-Home Parent -

In the hope of living on an income while you or your spouse remains home with the child (ren)?

This used to be commonplace but now many households include two working parents. Interestingly though, stay home parenting is mainly his work.

The number of US fathers who do not work outside of the house has reached 2 million in 2012, against 1.1 million in 1989 women, reports the Pew Research Center.

We talked to Bethany and Scott Palmer, founders of The Couple silver and co-author of books including "The personalities money Five," to get their advice on preparing financially for be a stay-at-home mother.

Rethinking expectations.

changing to a reduced income not only cash flow for discretionary spending, but also changes the family dynamic. "Set expectations regarding money, and set expectations around the house and time," Scott recommends.

Even if you shared the household responsibilities 50/50 before one spouse left the workforce, you may need to revise the division of labor in the future. "Assumptions can wreak havoc on your relationship," says Bethany

She suggests starting the conversation by saying. "Let us sit down and talk about the different categories of things that need to be covered." Then you could discuss where there is room to make budget cuts and how you will divide household chores.

practical life on one salary.

Before a spouse leaves the workforce, trying to live on the salary of the other spouse and save the rest.

This allows you to get used to living on less income (and build your savings) before you make the change, a process that usually takes about three months, according to Bethany.

If this arrangement is uncomfortable, consider alternatives such as offset time. When Palmers started a family, the couple created a schedule where one parent worked in the morning and the other afternoon of work.

Budget for fun too.

Initially, you might think to stay home with a baby would not be many additional costs attached. After all, no dry cleaning bills, no travel, no slats on the way to work. But Scott said it often not the case because stay-at-parents must still leave the house.

"Do not assume that things will get cheaper," he said. "You may think that things will become more expensive."

play groups, day movies baby and parent to music or yoga classes add structure to the week and keep parent and child entertained. of course, many options such as story time at the library or visits to parks and playgrounds can be the best friend of a parent on a budget.

Continue saving for retirement.

When a parent leaves the labor force, he or she does has more power in 401 (k) withdrawals. But this does not diminish the need for retirement savings later in life.

the person with earned income can contribute up to 5500 $ annually (or $ 6.500 for more than 50) to an IRA spouse to spouse not working. that said, sometimes "it is logical that a joint to increase the amount they put in report the creation of a separate account, "said Bethany.

Either way, make sure that you continue to save for retirement as a couple, even when a person stops working. Tweet this

Think through estate planning.

Even if you do not have a huge area for someone to inherit, the Palmers encourage new parents to do some estate planning and to appoint a guardian for the children if something were happen to both parents.

Also buying a life insurance cover for both parents, a step that is often overlooked in the non-working spouse.

However, the loss of a parent who stays at home "could be just as expensive [as losing the income earner] because now you have custody of children and the activities that the person cares for to be financed "said Bethany.

have you adjusted to living on one income? How do you navigate this transition?

Insurance and your taxes - What business owners need to know -

We can provide almost everything we choose: our cars, homes, businesses, the ability to work - even our lives. While pursuing the insurance can be expensive, we pay for peace of mind. It seems that the only thing more expensive that insurance is not to have when something goes wrong.

Fortunately, the insurance premiums are often deductible business expenses.

Here are some common situations that could mean tax deductions for insurance costs related to your business.

insurance premiums in your business

You can generally deduct business-related insurance premiums and other expenses business. This reduces your self-employment tax and taxable income

Deduct premiums for these types of business insurance :.

• Fire, flood, storm, cultures, theft, liability and other insurance on the company's assets.
• UI
• interruption insurance business that pays for lost profits if your business is closed due to fire or any other cause. State employees (deduct that taxes if your state considers premiums as taxes).
• credit insurance against bad business debts.
• health insurance premiums for employees, including long-term care insurance premiums.
• Malpractice insurance.
• Overhead insurance that pays overhead business when you are disabled.
of vehicle insurance
• business. You must allocate the premiums and other vehicle expenses if you use the vehicle for business and personal use. Note:. If you use the standard mileage rate, do not deduct vehicle insurance separately

Life insurance for employees, if you are not a beneficiary. Do not deduct amounts you put in a reserve set up for self-insurance, premiums for disability insurance, some insurance life and annuity insurance or you pay for a loan.

If you pay the insurance as part of a manufacturing process, including the cost of insurance with other charges in cost of goods sold.

If you have rental property, deduct any insurance related to lease in Annex E with other rental costs.

If you pay insurance premiums, enter the year in which they are, regardless of whether you are on the way of cash or accrual. For example, you pay for insurance premiums covering this year and next year.

You can deduct premiums that cover this year on your current tax return. You can deduct the amount applicable to the next year with the return next year.

health insurance premiums you pay as an independent person

If you're self-employed, you may be able to make an adjustment independent health insurance premiums. You can take this deduction even if you do not itemize deductions.

as an adjustment "above the line", this expenditure reduces your adjusted gross income and can eventually help you benefit from other tax advantages.

If you qualify, you may also be able to include medical, dental, and qualified long-term care for yourself, your spouse, your dependents and your child who was under 27 at the end of the year, even if the child is not your responsibility.

to qualify for the adjustment of independent health insurance premiums, you must be independent and have a net profit for the year. This could also be a sole owner, as a partner with net earnings from self-employment or as an employee received wages from an S corporation in which you were a shareholder more-than-2 percent.

If you were an employee of an S corporation, your W-2 related form must show your health insurance premiums paid or reimbursed by the S corporation

you can not take the deduction for self-employed health insurance for one month during which you were eligible to participate in a subsidized health plan maintained by your employer or your spouse, even if you have not participated.

health insurance premiums as an itemized deduction

you might be able to take an itemized deduction for your medical insurance premiums if you can not take a deduction for the premium health insurance for self-employed.

premiums, combined with other deductible medical expenses, must be important before beginning to receive a tax benefit them. Your total medical expenses, including health insurance premiums, exceed 10 percent of your adjusted gross income before you can include the amount over the floor in your itemized deductions.

(For taxpayers aged 65 or more total medical expenses are deductible to the extent they exceed 7.5 percent of their adjusted gross income, 2016. If you file jointly, a one of you must be 65 or older to use the 7.5 per cent floor.)

long-term care insurance

the IRS limits your deduction for long-term bonuses skilled care insurance according to your age. Long term care insurance eligible is an insurance policy that provides coverage necessary diagnostic, preventive, therapeutic, curing, treatment, mitigation, and rehabilitation services, and maintenance services or personal care . This support can be provided in a care center or home, depending on your contract.

TaxAct calculates your allowable deduction when you enter the amount you pay for long term care insurance.

Types of nondeductible insurance

While you can generally deduct the ordinary and necessary insurance costs as a business expense, there are some types of insurance that you do can not write off.

For example, you generally can not deduct insurance your landlord for the house you live. Moreover, auto insurance for a car should generally not be deducted unless you use it in a business.

Why your favorite celebrity is a company -

Have you ever wondered about the way the movie business?

because of you, I hope you will never find.

Learn the entertainment industry secrets is like waking up every morning and find that the Easter Bunny Santa killed in a bloody battle to the death, and both of them were creations the imagination of someone else to start

It leaves you feeling a little dead inside

But back to the movie industry ..: as little as it seems that everyone is doing real work in the industry, it is not entirely unpaid trainees and "slashies" (actor / model / server).

there are a select few in Hollywood who earn impressive wages for (usually) outstanding acting.

And like any other person money making, it's not how much you make, it's how you handle it.

power Loan Out Corporation

As New York Magazine revealed in its function Celebrity Economy, almost all actors of importance funnels income through a loan person morality.

The company is used to place a lower tax rate on income of celebrity as if the income were simply provided directly to the person.

it is not Kim Kardashian, she Kimsaprincess, Inc! This is not to Mindy Kaling, your old favorite desktop editor turned lead-actress-in-a-sitcom is Kaling International.

The reason these companies are interesting is that they show the real financial planning by celebrities. Of course, it is their CPA or business manager handling the details, but still.

Do you think you could benefit from a company loan?

Perhaps, although the structure is really ideal for individual artists, especially when they can not receive a handful of large payments during the year, which means that money must be treated the advantageous tax purposes.

Other Time-Honored Celebrity money tricks

fame is fleeting.

he does not feel that way when I see Snooki from Jersey Shore currently 8000th in the securities of my Google News feed, but it is.

Pop culture is a relentless vulture, and savvy figures honored will take full advantage of their time at the top.

using their loan company, they will get contracts for endorsements, appearances and sponsorship which are often more profitable than their interim fees. Musicians make most of their money on tours and merchandise, not albums.

Lesson learned for us average folks?

Learn what skills or opportunities you can take advantage and you might be surprised to see what it turns into.

do not think you need to specialize in just one thing to succeed.

I saw the success people come in many different forms. We do not all have the same path to follow

And always use a trusted accountant when the money starts coming in

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IRS Announces Dates: No need to wait - 5 reasons to file your taxes now -

We have received confirmation that the IRS will not be processing individual tax returns on income until January 30 for the vast majority of taxpayers. Those who ask residential energy credits, amortization of property or general business credits will be able to start filing in late February or early March.

This does not mean you have to wait to file. Get your tax refund back as soon as possible by filing your taxes now

Reasons to file your taxes now :.

1. TaxACT accept returns e-filed. TaxACT is updated with all the latest changes in tax legislation.

2. Get your maximum refund guaranteed the quickest manner possible. The fastest way to your IRS refund is to file your taxes now use free e-file TaxACT and choose direct deposit. We will hold your return and e-file automatically from January 30.

3. easy filing and tax practice. It is easier and faster than ever to prepare, print and e-file tax returns with TaxACT. Users of computers and tablets can use their browser to connect to their statements online 24/7. PC users can install TaxACT from a CD or download www.taxact.com.

4. Step by step help from the experts. TaxACT offers instant, personalized support every step of the way in the improved response center, online at taxact.com and verification wizard. You can also send an email tax and audit questions to TAXPAYER support specialists to get free answers.

5. Free means free. All Americans, regardless of income or the complexity of their statements can prepare, print and e-file their 2012 federal taxes by the web version or download TaxACT Free Federal Edition.

Get a head start on receipt of your maximum tax refund by filing now

What you need to know from the announcement of the IRS :.

• IRS will begin processing tax returns on personal income on January 30 for the vast majority of taxpayers.
• people applying for residential energy credits, amortization of capital or general credit business will be able to start filing in late February or early March.
• IRS will not process paper declarations before the scheduled Jan. 30 opening for the majority of taxpayers. Taxpayers who returns with non-available forms until the end of February or early March will have to wait until the IRS systems are ready for paper returns.
• The IRS will be able to accept tax returns affected by the end of the alternative minimum tax (AMT) patch and the three main provisions "extension" for people who ask deduction of sales tax, state and local, the tuition and higher education expenses deduction and educator deduction as of January 30.

following is the full announcement IRS

Following the January tax law changes by Congress under the American taxpayer relief Act (ATRA), the Internal revenue Service announced today that it plans to open the filing season 2013 and begin processing tax returns for January 30

the IRS will begin accepting tax returns that date after the update forms and completing the programming and testing of its treatment systems. This reflects mainly changes in tax law adopted late January 2. The announcement means that the vast majority of reporting - over 0 million households - should be able to start filing tax returns from January 30.

IRS estimates that the remaining households will be able to start filing in late February or in March because of the need for and form more extensive changes treatment systems. This group includes people seeking residential energy credits, amortization of property or general business credits. tax returns Most people in this complex group file and generally deposit closer to the deadline April 15 or get an extension.

"We have worked hard to open the season as soon as possible taxes," IRS Commissioner Steven T. Miller said Acting. "This date allows us to have the time to update and test our treatment systems."

The IRS will not process paper declarations before 30 January anticipated opening date. There is no advantage to file on paper before the opening date, and taxpayers will get their much faster tax refund using e-file with direct deposit.

"The best option for taxpayers to file electronically," Miller said.

opening of the filing season follows the passage by Congress of a comprehensive tax changes in ATRA 1 January 2013, with many tax returns affecting for 2012. While the IRS worked to anticipate the tax law changes end as much as possible, the final law required update IRS forms and instructions and make adjustments of critical processing system before you can start accepting returns income.

IRS originally planned to open the e-filing this year on January 22; more than 80 percent of taxpayers filed electronically last year.

Who can file January 30?

The IRS states that the vast majority of all taxpayers can file from January 30, whatever they file electronically or on paper. The IRS will be able to accept tax returns affected by the alternative minimum tax (AMT) Patch end, and the three main provisions "extension" for those applying the deduction of sales tax State and local education higher charges and fees deduction and education educator deduction.

who can not file later?

There are several forms affected by the end laws that require programming and testing of larger IRS systems. The IRS hopes to begin accepting tax returns, including those tax forms between late February and in March; a specific date will be announced in the near future.

The key forms that require more significant changes to programming include Form 5695 (Residential Energy Credits), Form 4562 (depreciation and amortization) and Form 3800 (General Business Credit). A complete list of forms will not be accepted later is available on IRS.gov.

As part of this effort, the IRS will work closely with the tax software industry and tax professional community to minimize delays and ensure a smooth tax season as possible in the circumstances.

Do not make these mistakes on your tax return -

Are you willing to prepare and file your tax return?

do not make these mistakes!

mistakes on your tax return can delay the processing of your return, in addition, the tax refund that you rely on.

Fortunately, most of the most common errors are simple human errors that have little to do with the code of complicated taxes.

spending a little more attention to a few things will make tax time a much smoother process and error free.

Using do-it-yourself software solutions to tax preparation greatly reduces the risk of errors, especially if you import information back to last year.

However, all taxpayers should be double check a few key pieces of information on their statements

To help you file a tax return without error the first time, every time the following are the common errors and why they rely :.

names do not match Social Security cards

Believe it or not, the names are one of the main reasons for returns are rejected by the IRS. More common than spelling errors depends names that do not match their Social Security cards.

The IRS database synchronizes with the Administration of Social Security. If the IRS computer system can not locate a name on your tax return in the SSA database, it will reject your return.

Although easy to fix, your return will not be processed until the correction is made.

Entering an incorrect Social Security numbers

Another common error is incorrect social security numbers (SSN). If one of SSNs on your statement are correct, the IRS will reject your return.

In addition to the hassle of fixing and resubmit your return, there is another reason for SSNs correct the first time.

Several tax breaks, such as child tax and tax credits for children and additional education credits and dependent care requires correct SSNs.

forget to include income

If you forget to include income on your return, the IRS will let you know, and depending on when your monitor is discovered, you might also have penalties and interest on unreported income.

agency knows how much income was deposited into your bank accounts and investment based on your SSN and 1099 financial institutions submit to the IRS.

Not including tax deductions and credits

There are hundreds of tax deductions and credits available for the taking. If you miss one of your return, the IRS will not tell you

There is a simple solution for this -. Using tax preparation software. The program will help you get all the tax breaks you deserve. It guides you through every credit and deduction by asking simple questions.

Claiming the wrong filing status

Because filing status determines many amounts on the tax returns, the IRS has strict qualification criteria for each of the five filing statuses .

Choose the wrong state and the IRS will reject your return. Tax preparation software will walk you through your options and help you choose.

If you qualify for more than one status, claiming that resulting in repayment more or less the tax due.

mathematical errors

If you use tax preparation software, you do not have to worry about it.

The most common mistake on tax returns, year after year, is bad math.

errors in arithmetic or in transferring figures from one table to the other will result in an immediate correction notice.

math errors can also reduce your refund or result in you owing more tax than you should.

routing numbers and incorrect account for direct deposit

If you choose to have your refund directly deposited into one or more accounts, check the routing and account numbers entered in your declaration.

Just a wrong number can mean several more weeks of waiting for your refund, someone else receive your refund or rebate being sent to the IRS.

missing the deadline April 15 tax return

last error is very simple to avoid. File your return on time. If you need more time, file Form 4868 by April 15 for an automatic extension of deposit of six months.

Remember that you are still required to pay the taxes due April 15 or incurring late filing penalties and interest charges.

If you can not afford to pay what you owe, the IRS offers assistance. Call the agency to discuss payment plans, payment options, extended time to pay and other forms of assistance

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weekly favorites: How to Change Back federal, 11 ways to reduce the College bills Tax Time is identity theft Time -

weekly Favorites: February 15, 2013

How to change your federal return [Video] via TaxACT
completing the form 1040X, the form required to change your statement Federal, is a simple four -Step process. Continue and watch the video ...

11 opportunities to Slash College Bills [Infographic] by Eric U.
The College costs are continually on the rise making loan debt student at record levels at $ 870 billion. The average student is more than $ 27,000 of debt. Fortunately, you may be able to reduce your college costs when the income tax with a variety of credits, deductions and savings plans. Continue reading ...

Tax Time Time ID Theft Bankrate.com via
The IRS began accepting 2012 tax returns, sending thousands of taxpayers individuals and tax professionals on their computers to fill forms and then e-file them. You, however, are a holder of electronic declarations income. You've heard reports of any identity theft in tax matters. So you're always sending Uncle Sam your tax data on paper. You may want to reconsider. Continue reading ...

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Weekly Favorites: Bump Your Take-Home Pay Up, ways to make money at home, IRS Accepting More Forms - Next Week

Weekly Favorites: March 1, 2013

Payroll tax Cut: How to Bump Your Take-Home Pay Back Up by Sally Herigstad
When the tax deduction on the temporary payroll ended in December, our social security deductions rebounded to 6.2% of our gross% more of your salary pay.2 may not seem like a huge amount. But on a salary of $ 2,000 per pay period, which is $ 40. Continue reading ...

10 best ways to make money at home (legitimate) via MoneyCrashers
With jobs still scarce, dissipation job security and wages seemingly stagnant at best, many people are trying to establish some security by creating multiple streams of income. Continue reading ...

Despite sequestration, the IRS plans to continue filing season as expected, begin to accept more forms updated next week via Kay Bell
This filing season has been crazy, delayed for weeks because of late passage of the tax laws of the fiscal cliff that required updating of IRS forms and its computer system. Then came sequester, $ 85 million in large reductions in automatic spending set to take effect at 23:59, March 1. Continue reading ...

Tweetable quote:

successful people and failures do not vary greatly in their abilities. They vary in their desires to reach their potential. -John Maxwell

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Weekly Favorites: Moving tax deduction expenses What sequestration, $ 917 million unclaimed taxes, capital gains -

weekly Favorites March 15, 2013

tax deduction moving expenses: what deductible and non-deductible via Sally Herigstad
in this economic context difficult, many Americans are moving to find work ?. They can offset some of the costs of packaging for greener pastures by taking a tax deduction for moving expenses. Continue reading ...

What Sequestration - Definition & How It Cuts the national debt via Money Crashers
While the ability of our country to borrowing money is a valuable asset, especially in times of need such as wars and economic downturns, maintain continuously high levels of debt relative to gross domestic product is harmful, even devastating for citizens. Continue reading ...

IRS has $ 917 million in 09 unclaimed tax refunds via CNN Money
returns about 984,400 taxpayers are not subject to 09 , the agency said. Some people may not have filed because their income was enough that they do not have low, but they could still qualify for refunds if taxes were deducted from their pay. Continue reading ...

long-term capital gains :? How much tax I Owe via Sally Herigstad
Do you sell a house, some investments or even a car this year you may need to report the sale of an asset? If you sold an asset, perhaps at a profit, you'll usually pay less tax on the gain you would have to pay ordinary income, such as wages. Continue reading ...

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Post-Tax Filing Tips -

Yay - you filed your tax return! ? Now what

Follow these tax tips:

Keep track of the status of your return

your responsibility to ensure your return is accepted if you are filing electronically. You can have TaxAct send you an email notification when this happens.

You can also check your e-file status at any time efstatus.taxact.com or on your mobile with the Tax Return status by TaxAct app.

Note that acceptance e-file only means that the IRS recognizes that you have filed your return. This does not mean that the return is correct or that the IRS agrees with everything on it.

Where's my refund?

To check the status of your refund, go to the IRS Where's my refund? site.

You will need to have your social security number or tax identification number, your filing status and the exact whole amount of your anticipated refund. handy

IRS updates the site daily

Keep that -. and how long

Keep most tax records and receipts for at least three years. After that, your likelihood of needing each received note and shape information becomes much lower

Before you run all your older material through the mill, however, make sure to record the following :.

documents and working papers related to all that the IRS may consider fraudulent. While most of the returns can be considered safe after three years, the IRS can go back to watch the fraudulent cases at any time.

informative declarations for income , such as the 1099-MISC form. Generally, the IRS has six years to advise you that you failed to report taxable income.

received for the assets you still own or depreciate for tax purposes. This includes your home and any improvements, even though you probably will not have to pay tax on the gain on your home.

tax records on employment for the last four years.

records for worthless securities or bad debt. Keep these records for seven years.

Make it easier next year with better organization

Some of us promise each year, as we slog through the piles or receipts and notes that next year will be different.

Next April, we will be organized as do our taxes consist simply entering the totals TaxAct and finish the job early. We hope that

Better organization should not be a dream, but if you find ways to make it easy

Here are some suggestions: ..

Keep files you best. instead of stacking the papers in a single file, keeping tax revenues deductible in at least easy to find the file. Keep your mileage log into the car and use it without fault. Or track mileage on your phone or computer.

Automate your financial life. to pay bills online, and download your transactions in personal finance software.

Organize files online. you can scan receipts and other documents to download an online service so they are there when you need them. You never have to sort through boxes of receipts faded when the new tax.

What if I need to change my return?

No matter how careful you are, sometimes you will find information after you file your return. Maybe you remember suddenly a substantial non-cash contribution, or you forgot to include unemployment benefits as income. Or your employer, financial institution, or a company sends you a corrected version of a form. And now?

Once you have deposited a statement, you can not start over and make a new one.

Instead, you file Form 1040X to amend sections on the return. Page 1 of Form 1040X shows three columns for large amounts of your tax return: Initial amount or as adjusted previously; Net change - amount of increase or decrease; and the exact amount.

must be attached schedules at the corrected Form 1040X need.

Do not hesitate to file a Form 1040X when something important changes in your statement.

If you should have paid less tax than your original statement, it is worth. If you need; For example, if you have found another 1099-INT form of a bank, you are better correct yourself mistake to wait for the IRS to send you a bill with penalties and interest.

To file the Form 1040X within TaxAct, click Change Back federal on the main deposit tab.

when was the last time you sorted the old tax records and discarded receipts and documents you need more?

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Weekly Favorites: tax scams of 2013 Tips for using Form 1099-B, the paris are taxable, 7 Things to Check When filing taxes -

[1945004Favoris] weekly: March 29, 2013

do not fall for these tax scams Dirty Dozen 2013 via not mess with taxes
it is the season application fee, so you know what that means. There is also the high season tax fraud. In addition to collecting the tax returns of Americans (and money), this time of year, the Internal Revenue Service also keeps an eye on tax scams. Continue reading ...

5 tips when using 1099-B form for shares and other investments via Sally Herigstad
Have you received Form 1099-B your brokerage for the sale of your stocks and other investments? The IRS matches the information on the forms they receive from the brokerage to the amounts you report on your tax return. If information is missing, you will receive a letter with a correction of the IRS. Make sure your financial institutions can find you. Continue reading ...

NCAA paris winners are taxed via Bankrate
income of paris, even office pool money where most people fall into a few dollars more as an act of camaraderie with one eye on earnings, is taxable. Despite the result of your bet and even if gambling is illegal, the IRS still wants her because of your earnings. Continue reading ...

filing your taxes? 7 things to check first via MarketWatch
If you are not checking your tax return before it is sent to the IRS, you could be in for some nasty surprises. Continue reading ...

Is it something that you met this week that caught your attention?

We would like to hear about. Leave it in the comments below

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Weekly Favorites: donations Rules, Old-School Tips money, credit card rewards as taxable income -

Weekly Favorite TaxACT: June 14, 2013

gift tax rules Franchise via Bankrate
All that is exempt from tax? As the name suggests, this means that organizations granted such status by the Internal Revenue Service does not have to pay income taxes. Continue reading ...

Listen to your Father! money tips Old-School for Today via Credit.com
This month we celebrate dads and all they do for us. They taught us to throw a ball, they fixed the chain on our bicycle, and they imparted their wisdom - wisdom was often they got from their dads. However, times have changed and perhaps the advice they gave us a both money and credit and debt is 100% accurate. Continue reading ...

Will Rewards Credit Card soon be classified as taxable income? via Michael Dolen
Just about anything you can think of is considered taxable income, but one thing you will find are notably absent credit card rewards. At least for now, but that will change soon? Continue reading ...

Is it something that you met this week that caught your attention? We'd love to hear. Leave it in the comments below

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Student Loan Interest Rate Changes: How They Affect You -

student loan interest rates are doubling

SHOULD CRANIAL it panic yet !? Or is it just fear of the month?

There is a bit of both, actually.

This is how the student loan interest rate changes can affect you.

If you make a student loan

the new, the loan rate student applies to all Stafford loans made 1 July 2013, for 2013-2014. school year

The new student loan interest rate is 6.8% - twice the previous rate of 3.4%

About 7 million people take these loans each year ( Tweet this.! ).

We'll see if this number changes with higher interest rates.

Even if you intend to apply for a loan this year, however, you can never really pay 6.8% on your student loan.

such a sudden change is unpopular, and politicians on both sides of the aisle are eager to come to a better deal.

If they do, they are likely to make a retroactive rate lower than July 1.

If you already have a student loan or a student loan you repay

the higher rates will affect Stafford loans that are already in place.

Of course, the change does not affect you if you have other types of student loans.

the best

Board

Stafford loans are still not a bad deal, even if the new higher rates sticks. Where can you get a loan of 6.8% which is not secured by a house or car?

Stafford loan rates are fixed, and you do not have to make payments until graduation.

The current interest rate for Parent pLUS federal loans is higher than 7.9%.

The loan rate is increased Stafford borrowing to other means for tuition suddenly become more attractive, however.

A student or parent may be able to take a home equity loan, borrow a parent whose economies are languishing in a bank account that pays virtually nothing, or take money from savings .

When the student loan interest rates were low and relatively abundant employment to graduation, it was easy to become complacent to take on debt increasingly for education.

If something good comes of this increase in interest rates, however, may we remember to measure the costs and benefits of student loans more carefully - in the same way that we do with any other debt

reduce lending by planning, shopping for the best deal, and given the risks

[

for some people, it may mean taking better advantage of the program College level examination (CLEP) tests, and go to community college for the first year or two.

others may take a year off college and save money for courses. Everyone should shop around for colleges that offer the best education at the best price.

Do not give up on your dreams. While you follow these dreams, however, you will not regret taking as few loans as you possibly can.

When you have selected a college, how much has tuition play in your decision?

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Energy Efficient Home Improvements to save money -

Are you or in the middle of all home improvement projects?

If your answer is yes, do you energy efficient home improvements ?

While winter may be months away, we all know it's coming and that means higher heating bills. Although we can not usually avoid these changes, there are some ways to reduce their long-term impact on your wallet.

Now is a good time to consider investing in energy efficient home improvements. Not only are you doing your part to help the environment, you may also be looking at tax credits to help offset some of the costs

Consider making these improvements before temperatures begin to drop this fall.

Insulate the attic

When the heat rises, you might be tempted to insulate the walls but this can be expensive. The first place you should isolate is just above your head.

Check drafts

A small project is like having a door ajar. Remove the caulking gun, caulking or other draft judgments tools to keep the warm air and the cold air outside.

Also, do not forget to lock your unused chimney so that it does not suck heat your fireplace.

Change your furnace filter

It takes a lot of energy to blow air through a dirty filter the oven. Check your filter to see if it should be replaced with a new one. You may change your filter as often need once a month, especially if you have pet dander in your home.

Use of solar panels for heating water

solar panels used for heating and cooling your home can be a great alternative energy source . Unfortunately, these improvements can be on the expensive side, making it difficult for most of us to recover the total cost of installation.

This does not mean you can not enjoy the warm sunshine. If your home receives enough sunlight, using its energy to heat water can save you money.

Take a tax credit

Uncle Sam can even help you pay some investments in energy efficiency home improvements.

If you buy insulation, windows, doors or roofs that come with credit certification statement from a manufacturer, you can get 10 percent of the cost of your return as a tax credit. Keep in mind that credit has a limit of life of $ 500, of which only $ 0 can be for windows.

Do you buy an alternative energy equipment? If so, you may qualify for an even higher percentage of return on your investment.

If you install solar energy systems, fuel cells, small wind energy systems, or geothermal heat pumps, you can take a tax credit for 30 percent of the cost .

There are no limits on what credit amount. If you can not use all the credit this year, you can see the rest next year.

Small changes can make a big impact.

While you are in the power saving mood, be sure to turn the electronics off and used to give that old refrigerator in the garage. Many energy companies send you a refund for recycling, the work equipment used, such as refrigerators or air conditioning units. Check with providers in your area to see if you can take advantage of this.

Although unplug appliances and electronics can not get you a tax credit in excess, it will help you save on your energy bills.

How many times did you change your furnace filter

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Swipe fees below :? Does it Mean store prices fall -

Do you use a debit card

The DID you each time you use the merchant is charged with magnetic charges?

each time you swipe a debit card to pay for gas, groceries, or a latte, your bank charges the merchant "sweep fees" for the transaction.

the maximum slip of fees banks could charge for each transaction in 2010 dropped 44 cents to 21 cents.

They can go down even further, as a recent decision of the Federal court has made possible to the maximum to go even lower.

How the lower magnetic fees affect consumers

magnetic charges lower the places you shop should mean lower prices to you, or at least it should retailers be more willing to let you use your debit card to make even the smallest purchases.

Someone has to pay for the cost of card transactions rate, however.

in the end, if banks can not charge as much to retailers, they will find a way to make you pay.

If they can not find a way to make profitable transactions by debit card, they can discourage completely.

We have already seen how the banks have offset lower debit fees it two years ago.

banks have raised any overdraft charges to expense account verification. Many services, we used to take for granted as part counting, now cost money.

It is difficult to predict how the rest of the market will adapt, but debit cards are not likely to disappear. One can hardly go back to paper checks.

paper checks are a problem for retailers, and a percentage of them still rebound. We'd hate to start writing checks to the store again -. Or wait in line behind people who write checks and have them approved

It is more likely that banks continue to find ways to charge more Furthermore, if the amount they can charge retailers for debit transactions continues to fall.

What consumers can do?

as a consumer, you can protect yourself against most croissants paying more attention to what you are accused.

Read your statement every month and make sure you understand it.

compare regularly check account plans to your bank or to other banks or credit unions to see if you can save money.

instead of paying someone to count your coins, keep some in your purse or pocket and use them to buy coffee and other small purchase. And keep an eye on your balance, so you never, ever risk having a negative balance.

The banks can increase overdraft charges all they want, but it will not cost you a dime if you have not discovered your account.

you are likely to spend more money when you have money in your pocket, or when you just slide your debit card?

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Affordable Care Act Tax Law Changes for higher income taxpayers -

Most taxpayers don, AOT have to worry about the new extra tax of 3.8% on the net investment income , or additional 0.9% Medicare tax .

the charges apply only to individuals (and estates and trusts) who have income on certain levels.

you usually won, AOT pay these taxes unless you make over $ 0,000 a year.

If you are married and you file a separate return, you can pay additional taxes after your income exceeds $ 125,000.

you never pay these taxes on the same income.

on net tax on investment income is based on investment income such as interest and dividends, while the more tax Medicare is levied on wages and other income.

tax on net investment income (NIIT)

From your statement in 2013 revenue, due when you file in 2014, you must pay an additional 3.8% on everything Aunet income investment, if your modified adjusted gross income is more than $ 0,000 ($ 250,000 if married filing jointly, or 125,000 $ if married filing separately).

investment income is usually money that you receive when your money or other investments working for you. This includes interest, dividends, capital gains, rental and royalty income, and non-qualified annuities.

Investment income does not include the gain from the sale of your home that you can exclude. However, if you gain from the sale of your home that you can not exclude, you may need tax net investment income on this amount.

Investment income does not include wages, unemployment benefits, social security benefits, alimony, tax-exempt interest, or self-employment income.

Before paying the additional tax on investment income, you can deduct certain expenses. This includes investments attributable interest expense, expense advisory and brokerage expenses related to rental income and royalty, and state and local taxes on income attributable to investment income.

TaxACT calculates the tax on net investment income for you on Form 1040 if the tax is applicable.

Do I have to pay tax on net investment income on my children's interests, AOS, dividends and capital gains that I report on my 1040 form?

you won, AOT pay this tax on your income children, AOS you exclude from taxable income due to the threshold amounts on Form 8814 or amounts attributable to Permanent Fund dividends Alaska.

However, you can pay the tax on net investment income over the remaining portion of your children from investment income, AOS if you report on your return.

because of this, if you are subject to tax on net investment income, you may want to file separate returns for your children.

should I include tax net investment income in my estimated tax payments?

Yes. You have to take the new tax into account when you make your quarterly estimated tax payments, or you may have to pay additional taxes, penalties and interest.

Additional fee Medicare

Another new tax for 2013 is the additional Medicare tax. You must pay this tax if your salary, compensation and employment income, and your spouse if a joint declaration, is over $ 0,000 ($ 250,000 if filing jointly, or $ 125,000 if the married filing separately).

If you earn a salary and you make more than $ 0,000 from an employer, your employer automatically retains the additional amount from your salary.

tax is 0.9% of your salary over $ 0,000.

The additional Medicare tax is different from the regular Medicare tax in one respect. Unlike regular Medicare tax, additional tax is calculated on your earned income only. It also takes your spouse, AOS income into account.

When TaxACT calculates the actual amount of the additional Medicare tax you owe, it may be different from the amount you deducted.

If you earn more than $ 0,000 in salaries and compensation, but paid by more than one employer or employer deducts the additional tax. You pay the additional Medicare tax with your other tax liability.

On the other hand, if you are married and you earn more than $ 0,000 but less than $ 250,000, and your spouse has no earned income, you can have the tax additional Medicare withheld.

However, if you file jointly, you should not tax because your total wages and compensation are not more than $ 250,000. Your total tax liability will be reduced by the amount of the additional Medicare tax you withheld.

How your tax rate on different investment types affect your investment decisions?

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5 ways to protect yourself against credit card fraud -

Looking for ideas and approaches that you can do to prevent you from be credit card fraud victim?

Credit card fraud has become a major problem of personal finance with 9 million Americans suffer identity theft each year according to the Federal Trade Commission.

What is identity theft?

identity theft involves the scammer acquire a credit card or open an account under the name of a person using their social security number or other details specific to the person to validate the account.

the scammer uses the account as a source of credit for their spending, leaving the heavy bills of registrant.

law provides that the person to pay only $ 50 per card if they report fraud in a hurry. This, however, still leaves a heavy burden on the registered card holder from the credit card company gets its revenue losses through higher interest rates and higher premiums charged on their clientele.

There are a number of approaches you can take to protect yourself against such fraudulent events.

Pay attention to the actions of wickets

When using credit cards, you need to do Attention due to the actions of the window during the transaction to ensure that nothing criminal happens.

Immediately when they finish loading the card, it must be returned to your possession. Regarding revenue, cross over all unfilled areas before signing them.

Keep mailing address update

Keep your address updated with personal finance providers to prevent unauthorized people to get your information.

This should help you determine if someone has filed a change of address on your behalf to obtain your personal information.

Reconciling your monthly accounts

The Federal Trade Commission recommends that you reconcile your accounts each month to allow rapid identification of fraudulent activities in your billing accounts.

This gives you enough time to report to the service provider concerned. This condition requires to save all your receipts for comparison to the bills.

Keep your confidential social security number

Keep confidential personal data such as your social security number.

Not wear your ID and credit cards as well as your wallet can go a long way in reducing the risk of exposure because of wallet theft.

Report of fraudulent activity in writing

in the case of fraudulent activity in your accounts, you must report the activity, preferably in writing, the service provider personal finances.

a copy of the written complaint acts as proof of the complaint itself, giving you a better quality in a lawsuit.

does not give details of the account by phone

Finally, a bit obvious, but worth mentioning, you should not give your credit card account information on phone calls unless you made the call, and even then only with trusted companies. The same should apply for websites

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Leasing vs Buying a home -

It used to be the American dream was not quite complete if it included a small piece of land with a home they could call home. A part of the retirement planning was to repay this house and live in their old age.

Times have changed!

Today's society is more mobile. We buy and sell houses almost as often as we change cars, rarely staying in one place long enough to pay the mortgage.

Some owners do not pay the mortgage, to turn around and get a reverse mortgage to make ends meet.

Is it still worth buying a house?

all depends on your reasons for buying or renting

buying a home for tax benefits

There is no doubt -. buying a home can save you money on your taxes

you can generally deduct your mortgage interest and property taxes.

If you receive a certificate of qualified mortgage (MCC) of a unit or a state or local government agency under a qualified credit certificate program, mortgage credit interest can directly reduce your tax liability

These advantages can make buying a home seems like a proposal without losing. However, you will spend more money on your home you save taxes.

Make sure you consider all the pros and cons, not just tax savings on income, before you commit to buy and maintain a home.

Use a mortgage as a forced savings plan

greatest asset many people have when they reach the retirement age is their home.

much of the value of the house is often the result of appraisal price, and if they lived in the house for years and have resisted the urge to repeatedly refinance, mortgage may be weak or even paid.

Living in your own home, the money you would otherwise pay rent goes first to interest and then pay the balance.

Just by making your house payment each month for years, you can build equity, without even thinking.

On the other against the money you spend on rent is gone. If your rent is cheaper than you would pay to buy a house, you can put the difference in savings even

You will need considerable self-discipline, however, because of putting money away in savings -. Through good times and bad - is not easy

The paris on property

over long periods of time, house made impressive gains in value. . If you bought a house 30 years ago, almost everywhere in the country, this house was probably one of the best investments you could make.

There is also a great hedge against inflation, the dollar value of real estate goes up when the value of every dollar falls.

real estate can be a lousy investment in the short term, however.

If you bought real estate there are five years, especially in a tough area hit by the slowdown in housing, you are painfully aware of this. Being forced to sell when the price is low can be financially disastrous.

Are you a handyman?

What can go wrong with a house? Not bad, actually. Houses can adjust, leak, squeak, and be infested by termites. new or old houses may suddenly need a new heating system, or a new roof.

When you have an owner, he sent someone to fix it and pays the bill. If you buy a house, you may find yourself wishing you had an owner to call.

On the other hand, when it is your home, you have more control over the way the house is maintained. You can paint the color you want (this side of the good graces of your homeowners association), and you should not expect your landlord to get around to it.

houses occupied by owners are often in better shape holiday, because when you are living in the house, you care more than anyone about his condition.

Get more or less for your money

when house prices were soaring, it was cheaper to rent than to buy a house in most parts of the country. Now, with house prices falling, the opposite may be true. There is no fixed rule as to whether buying or renting is cheaper - it all depends on the market you are in

When comparing the cost of renting versus owning a monthly basis, do not forget to do. provision for the additional costs of the property, such as maintenance.

on the other hand, if you buy a house with a fixed mortgage, your total interest and principal payment remains the same throughout the term of the loan. Only your property tax bill can go over the years.

If you rent a home, your landlord can always increase the rent. It could even sell the property, forcing you to move. Saving a little in rent now may not be a good idea if the rent goes up and you have to pay later.

Is a part owner of the house of your retirement plan?

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10 Easy Tips to Save Big and simplify your holiday shopping -

How do you simplify your holiday shopping and be free of additional debt?

the average family will create enough credit card debt during the holidays it was not until the following May to pay the bills! Tweet This

There are a cheaper way for families to survive

Here are some simple tips to save big and simplify your holiday shopping: .

Whenever you can spend less and save more for holidays happier!

I have followed similar steps in our family for the last two decades and I can honestly say we have never been further debt during the holidays. Our family had a minimum of stress at home and as a result, we really enjoy this time of year.

1. Strategize

Decide what gifts you want and match them with sale ads. Check items to your gifts list and note special limitations (ie cost effective only for three hours, limit two per person).

Awesome Note is an application to help. Prioritize the stores you shop within limits and values. If you can not decide whether prices are rising or falling, decide.com can give you an update if this is the best deal or not.

2. Shop for comparisons

Once you find the make and model of a gift you want to buy, do a search with Bing, SlickDeals or MySimon. When you find the best price, print and take to your local store to see if they will match the price.

To compare prices on your smartphone, get the coupon Sherpa application or Yowza app, which will help you find the codes and prices for your area.

3. Save Online Shopping

For online coupons, codes for free shipping and coupons, go to RetailMeNot, Dealhunting or CouponCabin.

4. Divide He

Follow the rule of divide and rule by shopping with a friend or your spouse. If there are multiple purchase discounts, such as "buy two and get the second at half price" or a special two for one, you can go together and split the savings, taking advantage of the offer.

5. Send by cooking

My children help me early in the season for various sweetbreads to freeze. When it comes time to give gifts to teachers or friends, we connect breads with raffia, cranberries, and voila!

These donations taste and save money.

6. Specify

during year, set aside a specific budget "cash" each month to use for the holidays. Do not use credit cards unless you know you can pay at the end of the month.

7 . Stick to your guns

Please note that you may be tempted to continue to buy, even if you have already won your list. You can go broke saving money, so stick to your budget.

8. Simplify

When my husband and I had five babies in the first seven years of marriage, we came up with the "rule of three gift." We chose three yet beautiful simple gifts per child.

9. Supervise

Take young children to the local Dollar Store to shop for friends and family. Give them a budget and money appropriate, then let them choose.

10. Steal It

Set aside money for after-holiday sales. You can often get non-perishable gifts for the list of next year gift of 50 to 75% off retail is practically a bargain!

Now that you have some strong measures in place to de-stress during the holidays and spend less, let's look at some ways you can do for this time of year more special for others in your home, the community and the world.

As you look at these ideas for special gifts, try to incorporate friends, family, or even your children in the donation process. I know our children were raised with an awareness to help others in the world and continue the tradition as young adults.

Now that the trouble to give an inheritance.

gifts that give a lot and Petit cost

Adopt a parent -. Start a round tour of a judgment or a person in a nursing home who has no other family nearby Year

Coupon Booklets - Give your family member a coupon book with the things they love most :. a hug, a back massage, a walk in the woods, a clean kitchen without complaint, or a date for coffee and talk

acts of kindness - Ask a mom whose spouse is deployed, and children, to spend a holiday evening with you or offer to watch her children while she shops. Clean your neighbor to court old or offer to help decorate for the holidays

A Gift of Life -. Adopt a third child in the world as a child sponsor on a site such as Compassion International worldvision.org or .org.

Bake for other Why not bake a loaf of bread surprise for someone who is not normally noticed as a cashier at the dry cleaners or a guardian of the basic gate? There is a great feeling to reach out to those who are neglected and it is also an incredible lesson to teach your child

Toys R Us -. If your child tends to be more gifted too -eager-to-please grandparents, so why not consider spending a gift or two to another child in your community who might need more

Smiles, Kind Words, laughter - Have you ever noticed how busy salespeople, waitresses and postal workers during this time of year? The next time you're waiting in line to speak a single word of encouragement to someone else like "I want your necklace" or "You have a great hair day!" You may be the only person who was kind to them that day

What gift will you give to this festival to make life better for someone else

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10 Year End Tax Tips to maximize your refund 2013 -

Although the year draws to a close, there is still time for maximize your refund 2013.

Here are 10 tips to save more on your taxes by 31 December:

10. Drain your flexible spending account (FSA).

If you still have money left in your FSA, do not let it go to waste. Check with your employer to verify your unused funds-date can be lost if you do not go by December 31

9. Make energy-efficient home improvements.

You can receive a federal tax credit if you make improvements to qualifying energy efficiency to your home before the end of the year. These improvements, such as installing windows and doors effective, can also reduce your energy bills.

8. Review your Alternative Minimum Tax (AMT) situation.

Use TaxACT to see if you're subject to AMT. Take an early tax deduction could cost you money if it triggers this extra tax.

7. Max your IRA contributions.

Unlike other tax benefits, you have until April 15 to the maximum contributions to traditional and Roth IRA.

contribution limit for both (as long as you or your spouse was covered for part of the year by an employer's pension plan) is the lesser of your taxable compensation (wages , commissions, self-employment income, alimony, etc.) or $ 5.500 per person for 2013 if you are under 50 years ($ 6,500 if you are 50 years or older).

The contribution limit is reduced at higher incomes.

6. Pay property taxes or mortgage payments early.

If you have not reached the maximum amount of mortgage interest for home or real estate tax deduction, pre-pay your mortgage payment January or your state or local property taxes in 2014.

5. offset capital gains.

Examine your investments to see if the compensation of capital gains with losses is appropriate in your situation. Keep in mind your tax rate on long term capital gains may be lower than the rate on short-term gains.

4. Review your medical expenses.

From this year, medical expenses must be more than 10% of your adjusted gross income (7.5% if you are 65 years or older) to take the deduction for medical expenses.

in previous years, the requirement was 7.5% for everyone. If you are close to your threshold, consider these possible deductible expenses.

3. Maximize your deductions for tuition and student loan interest.

If you have not reached the limit of deduction, Spring prepaid tuition or student loan payment in January.

2. Make a cash donation, clothing and household items.

Deputy Don TaxACT Deluxe monitors and maximizes your deductions with auditing values ​​supported for more than 1,300 household items.

1. Log in or start your TaxACT return today

For a step by step guide through these and other tax saving tips for your maximum federal reimbursement guaranteed to go taxact.com

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6 First Time - Tax filing tips

The way people sometimes talk about the preparation of tax returns, one might think that filing your tax return is the root canal of personal finance. If this is your first time deposit, you may be dreading the experience.

You can be a surprise.

The preparation of a tax return does not have to be difficult. In fact, as an applicant for the first time, you may be able to file your return with far fewer problems than you think.

Follow these tips to make your first experience a positive tax filing income.

1. Gather your first information

If you do not already have a file or a tax information box, start one. It is important to have on hand before tax related documents appear in your mailbox, you can throw them in their arrival.

If you do not have a small business or other tax matters, you may not need anything else to prepare your statement that your W-2 forms and 1099, and other tax forms that you can receive.

It is much easier and faster to prepare your return if you have all your information in one place before you start.

2. Being organized

Sort your tax documents by type. For example, your W-2 forms whole group, and group your expressions of interest and dividend income together.

operate from a tax information checklist so that you can check items off as you go. Save your notes to remind you how you calculated the information on your return.

3. Start early

You have a lot less stress prepare your return when you give yourself plenty of time.

If you need more information, you have time to do so. You will also have more time to examine your back and make sure you are not missing something.

In addition, if you have a coming tax refund, you might as well get it sooner than later.

Remember that you can receive information in tax matters in the mail through the first week or two of February as employers have until January 31 to send W-2s to employees.

Make sure to file before April 15 to avoid late filing penalties and interest if you owe taxes.

If you can not file your federal return April 15, file for an automatic extension of deposit 6 months. You can prepare, print and e-file Form 4868 for free with TaxACT, and then complete the file before October 15, the extended deadline.

4. Rely on experts

You do not have to be an expert to prepare your return with confidence, even the first time you produce.

Using TaxACT to prepare your taxes , you benefit from the expertise of our APC "and Enrolled Agents.

Step-by-Step Interview is designed to help make sure you meet your obligations to the IRS and get all the tax benefits that qualify.

tools experts TaxACT also created on the main Review tab to ensure your return is accurate and that you have maximized your refund.

5. Read your return

With TaxACT do the heavy lifting on your tax return, it is tempting to just sign on the line and send it. It is a mistake.

For one thing, understanding your tax return help you better plan for the current fiscal year and beyond.

you need to know what deductions and credits has reduced your taxes and how tax items such as stock sales affect your tax bill.

In addition, there is no substitute for reading your back to see if there is something that does not look quite right. Make sure you have exemptions for yourself, your spouse and your children.

Double-check the spelling of names, social security numbers, and routing of the bank and account numbers.

How old were you when you got your first real wage?

7 Owner Tax Breaks -

Owning a home has long been a great way to save on your taxes. This is true.

Take a look at the photo that owning a home can still give you a break on your taxes.

deductions for mortgage interest and property taxes

This is the big one. You can usually deduct mortgage interest on loans up to $ 1 million that you used to buy or build your house (up to $ 500,000 if you are married and filing separately).

You can also deduct home equity loan interest up to $ 100,000 (up to $ 50,000 if married and filing separately).

you can deduct the property taxes you pay on your home or other property you own.

Deductions for points

When you purchase or refinance your home, you can pay "points", a percentage of the loan as an advance fee. You can usually get a lower interest rate on your loan if you pay more points.

If you pay points when you buy the house, you generally deduct points in the year you pay them. If you pay when you refinance, you deduct the course of the loan.

mortgage interest credit

If you receive a mortgage credit certificate for qualified (MCC) of a state or local government unit or agency under a certificate program qualified credit, mortgage interest credit can directly reduce your tax debt.

You must itemize deductions to qualify for this tax relief.

home office deduction

If you work from home as an employee, or if you're self-employed, you may be able to take a home office deduction. This includes a deduction for depreciation on the part of your home that you use for business.

energy credits

This credit was extended until 2016. You can still get a tax credit for energy efficiency if you buy qualifying energy efficient products such as windows and doors, biomass stoves, insulation before the end of the year.

The credit is 10% of the cost of your improvements of qualified energy installed during 2013, as well as all costs of residential energy property. Your total credit for all years after 05 can not be more than $ 500.

Gain Tax-free when you sell

In most cases, when you sell your home at a gain, you have to pay tax on any gain. You can have up to $ 250,000 of gain before paying any tax on capital gains ($ 500,000 if married filing jointly).

Generally, you must have lived in the house and detained for at least two of the last five years to avoid paying capital gains.

If you lived in the home for less than two years but had to move due to a job change, health reasons, or other unforeseen reasons, you can still qualify . However, the maximum amount of tax-free gain will be reduced.

If you do not live in the house all the time that you own, for example if you used the house as a rental, then converted to your primary residence, you may need tax on some of the gain.

deduction for private mortgage insurance

If you put less than 20% down when you bought your home, you may have to pay private mortgage insurance. These premiums are always deductible for 2013.

Were tax breaks a factor you considered when you purchased your home

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Weekly Favorites: IRS takes a bite gains of US Olympic medalists and more -

weekly TaxACT Favorites February 14, 2014

pros and cons of tax refunds

by Kay Bell

Here is a quick look at some advantages and disadvantages of having uncle Sam on hold your money for months and then recover it in a lump sum when the Internal Revenue Service to move it. Continue reading ...

Understanding your tax forms W-2

By Kelly Phillips Erb

It is not uncommon for taxpayers not having an understanding the meaning of all the numbers, letters and other information on these forms. Here's what you need to know about the W-2 form, pay and the tax return. Continue reading ...

IRS takes a bite out of earnings "US Olympic Medalists

By Kay Bell

US Olympic Committee Athlete Awards US $ 25,000 for gold, $ 15,000 for silver and $ 10,000 for a bronze medal. The payments are considered taxable income. Continue reading ...

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10 Essential Tips for filing a FAFSA single -

Filing a FAFSA (Free Application for Federal Student Aid) is an important step when preparing for college. These tips can make filing easier for financial assistance.

If you or someone in your household planning to go to college, you've probably heard of FAFSA, or Free Application for Federal Student Aid.

is administered by the FAFSA Federal Student Aid, an office of the US Department of Education. This office provides more than $ 150 billion in federal grants, loans and fund work-study to post-secondary students each year

Here are 10 tips to keep in mind when filing a FAFSA :.

1. Complete a FAFSA and apply for financial aid, even if you think you will not qualify

Think your family income is too high for federal student aid? You might be surprised.

If the student attends a public college, the family may be able to make up to $ 80,000 per year and still receive help. If the student attends a private college, however, the family income may be up to twice that amount, and the student can still receive assistance.

Another good reason to apply, even if you do not you think'll qualify, is that you must complete the Free Application for Federal Student Aid (FAFSA) prior to applying for many other forms of financial aid, including grants college or university.

2. Complete the online form

The easiest way and fastest to file a FAFSA is online at the Federal Student Aid website here.

3. Have your handy information

• Social Security Number or Alien Registration Number (if you are not a US citizen).
• tax returns on the recent federal income, W-2 forms and other proof of income such as pay stubs.
• Bank and brokerage statements and records of all other investments.
• Acts of non-taxable income, such as municipal bonds.

You may also need this information for a step-parent if the student lives with a parent and a stepparent.

4. Do not delay

Allow enough time to complete the application. You will need a lot of information, some of which you might need to get other people. You must complete the FAFSA as close to January 1 as possible to ensure you comply with all federal and state deadlines for financial aid.

5. Get a Federal Student Aid PIN

You will need a PIN (personal identification number) to sign the FAFSA electronically. Visit pin.ed.gov to obtain a PIN.

6. Be sure you know who is considered the parent of the child

If the legal parents of the student are married or not married and live together, using information financial for both parents. This is true if the parents are of the same sex or gender.

If the parent of the student is widowed or never married, use of financial information of that parent.

If the parents are divorced or separated and not living together, use the information for the parent with whom the student lived the most during the past 12 months. If the student lived with each parent for the same amount of time, use the information for the parent who provided more financial support.

7. Estimate numbers if you are filing a FAFSA before completing your tax return on income

If you have not completed your tax return for previous year, do not let that stop you. You can always update the numbers if you need later.

8. Submit a FAFSA each year, the student must be considered financial assistance

Yes, you get to do it again - and again. You will not be starting from scratch, however. You just make adjustments each year.

9. Learn more about the different types of student aid offered by the Ministry of Education of the United States

The subsidies are only one type of aid to students. Grants must be repaid. The four types of federal scholarships are:

Federal Grants Pell Up to $ 5,550 (2014-2015 years) is awarded to undergraduate students based on financial need and other factors

..

additional federal Educational Opportunity Grants (FSEOG). These grants are awarded to students with exceptional financial need, depending on availability of funds at the college.

Teacher Education Assistance for College and Higher Education (TEACH) Grant. This assistance is available for students who intend to teach in public or private schools that serve students from low-income families.

Iraq and Afghanistan Service Grant. These grants are for dependents of Canadian Forces members who have died as a result of military service in Iraq and Afghanistan.

FAFSA Application can also help a student get scholarships and student loans.

10. Get a jump start on the FAFSA using FAFSA the Summary Sheet TaxACT

print College Financial Aid Worksheet TaxACT includes all the tax information you must complete the FAFSA online at fafsa.ed.gov.

After entering your tax information in your TaxACT return, your financial aid College Leaf will be ready in the review tab.

How important do you think it is for a person to try graduated from college debt free

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5 ways to use your tax refund -

Do you expect a tax refund this year?

You're in good company, while millions of Americans are in the same boat. In early March, the IRS has reported a return of the average tax of just over $ 3,000, an increase of three percent compared to the average return for the same period last year.

Although the repayment can feel like a bargain, remember that it is actually your money due to overpayment of taxes. Some people compare to give Uncle Sam an interest free loan.

If you lack the self-discipline to save during the year, then get a tax refund can be a good way to force yourself to save.

is assuming that your refund will actually savings, many do not.

If you want to put money to work in other ways, then you may want to adjust your payroll. This way you will have more cash flow during the year and a lower return in the future

If you already have a tax refund coming your way, here's a look smart ways to use :.

repay debt

If you have high debt interest, like credit card bills, put at least part of your refund towards your debt.

the money you put into the main means less money you will have to pay later interest costs, which can add up quickly. However, because mortgage loans are a secured loan, the interest rates are generally lower than other types of debt.

Pay off high-interest debt, like credit cards should be a higher priority than paying a mortgage.

Register

If your car broke down and needed repairs, do you have the money to pay for it? What about unexpected medical bills or a plane ticket last minute to attend the funeral of a parent?

If you answered no, then you might want to store your tax refund into a rainy day fund. Nowadays, savings accounts do not earn much interest, but you still need liquid funds available for emergencies.

Depending on your situation and the speed with which you might find a new job if you were laid off, experts recommend saving the subsistence value of three to six months in case.

fund your retirement accounts

already have a rainy day fund? Consider putting your refund in retirement savings and let your money grow over long periods of time. If you are already contributing to a pension plan sponsored by the employer as a 401 (k), then you may consider opening an IRA (individual retirement account).

The maximum amount you can contribute to a traditional or Roth IRA is $ 5,000 per year ($ 6.500 if you are 50 years or older).

traditional IRA contributions may be tax deductible.

invest

If you 're already saving for retirement and not have a high-interest debt, then you might consider investing your refund. Most experts advise not invest money that you will not need to at least five years and diversify rather than focusing on single stocks.

Of course, the investment does not necessarily mean buying financial instruments. If you're hoping to advance your career, you could invest in yourself by paying for a certificate program or professional development courses.

If your home needs repairs or have examined some improvements, you could invest that money in your home. Consider this article on the renovations that will add value to your home.

spend

In addition to paying the debt, savings or investments, you may feel the urge to spend your refund, too. As long as you do it intentionally and spend the money on something that brings you happiness, go ahead.

Take this weekend trip you and your honey have dreamed, you can buy these boots you've been eyeing online, or treat yourself to that your colleague cooking class raved about.

Ramit Sethi, author of "I teach you to be rich," recommends you deal with a small part of the money found. Hopefully it means you will not feel deprived and the wind blowing up 'the whole thing

Tell us How do you plan to use the tax refund this year

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