Health Insurance Enrollment Process

Ask a receipt and itemize your donations at donations to organizations charity?

you should be.

beyond the personal satisfaction donations to charities, there could also be tax benefits on income for your kind gestures.

Generally, you can take a deduction for contributions of money or you make to a qualified organization, but there are limits based on your adjusted gross income.

itemize your deductions

to receive the donation for the purposes of income tax, you must file federal Form 1040 long form and itemize your deductions on Schedule A.

If your total itemized deductions (including charitable contributions) are greater than the standard deduction for your particular filing status, your itemized deductions will reduce your taxable and tax liability income .

common types of organizations that are considered qualified

• religious, charitable, educational, scientific, literary, and the prevention of cruelty to children or animal organizations
• veterans of war organizations
• domestic fraternal societies, orders and associations operating under the lodge system
• Some nonprofit cemetery companies or companies

Keep records of your contributions

Whatever the amount of your contribution, there are record keeping requirements if you ask these deductions (if you n 'need not attach files to your tax return).

in general, your records should include:

• date of contribution
• contribution amount
• the name of the charity

Did you end the gifts of the year to charities

Image Source :? jeremybrooks

The best gifts do not come with price tags and they do not require batteries.

a class of second graders received the exact toys they have listed on their Christmas list to Santa-except for a little girl who has not asked a single toy.

she asked only one thing, to see his father who was in Iraq for two years.

during the two years she only saw a total of two weeks.

When they last saw they exchanged "heart" key chain. His father promised him that the next time he sees her, he had given his "heart" keychain back.

As miracles happen during these holiday periods, 'Santa' gave his "heart" keychain little girl back and his wish came true.

all of us TaxACT we wish you more Happy holiday season!

are your finances organized and prepared for a financial emergency?

Do you have a plan if a financial emergency happens?

When our youngest son, Joshua, was born, we started saying, "If it had been our first, it would have been our last."

This little boy had more energy and could get into more scrapes together all our other children.

When he was ten and a half, he stripped to his bed, took a plastic sword and chased his four older brothers and sisters around the house, earning the nickname "Conan the barbaric baby. "

By this age, he also jumped from the upper bunk bed (three points) and "stolen" out of our travel trailer (four points).

Joshua was why we bought a first aid kit seriously.

every family needs a good first aid kit for unexpected accidents, they also need a first aid kit handy or financial ways to help protect their financial future.

I think every family can be prepared for financial emergencies by assembling a well-stocked first financial aid kit.

1. An account of emergency

This account is not an investment account, it does not include the IRA, pension or CD accounts.

is not intended growth, but safety.

these are funds that are accessible in case of unemployment, emergency repairs to the home, or unexpected medical bills.

the best way to build this account is to establish a family budget. I recommend to automatically transfer funds from a check or checking account into a savings account each week.

A good rule of thumb is save the sentence of three months of living expenses to dual income households or six months for a single income family .

2. Life Insurance

This is an easy ingredient in your financial package. You will need enough money to your financial burden could invest money and live modestly on the product.

For the military, the best buy is still SGLI, or life insurance group servicemember. The army pays a premium to the military, to maximize the benefits. If your situation requires additional life insurance, go to USAA for the best deals for the military and their families.

3. A testament

Here's another easy. The main section of this paper criticizes assign a guardian for your children. In many states, the surviving spouse can only get a third to half of the assets that were in your name alone.

Your children get the rest and if they are minors, an administrator could manage their money until they become adults.

Make sure the beneficiary designations on all 401 (k) Plans, IRAs, life insurance and banking are also updated.

4. A retirement account

A surprising number of people do not benefit from tax-deferred accounts formidable offered by their employer, which include "401 (k)" and "403 (b ) "plans if you are a reservist with another full-time job.

The Thrift Savings Plan (TSP) is a savings and retirement investment plan sponsored by the federal government. This plan offers similar tax benefits that many private corporations offer their employees under "401 (k)" plans and they are full laptop when leaving the army.

5. A credit rating Good

The best way to rebuild a good FICO or credit score is three steps:

1. pay more than your minimum payment (although it only $ 5 / month)
2. pay a day early instead of a day of delay (you can set up automatic transfers from your checking account to your company credit card minimum payments)
3. never let your credit drop available within 50% of the total credit available (eg $ 2.500 on a credit line $ 5000.)

6. A College Fund for the babies!

Select an account of education savings at low cost, a good selection of investments and tax relief. One of many options is a qualified state tuition plan, also known as 529 plans.

Begin to research plans in your state. These contributions will be tax deferred and might even be your state income tax deductible if you are a resident of that State.

When money is withdrawn for college, it is only imposed on the income of the student tax rate.

If the child does not go to college, the money can be appointed to another beneficiary or removed to a 10% penalty.

What in your first financial aid? kit

photo credit: H is for home via photopin cc

Did you get all the tax breaks you, Aore right to a parent?

If you are a parent, chances are that the tax law changes in 2012 affect you.

Several major tax cuts were scheduled to expire at the end of 2011. There was a great expectation breaks would eventually be extended to 2012, but Congress has kept us in suspense as long as possible.

Finally, on 1 January 2013, Congress passed the American Taxpayer Relief Act of 2012 (ATRA).

Thanks to ATRA, you might be able to make these extended tax breaks:

1. education credits liberalized

The American credit Opportunity Tax (TBT), a more generous replacement hope credit, provides a higher credit grades than its predecessor. You can also get more money because of the AOTC you paid or had withheld tax, which has not been authorized with the Hope credit.

2. Extension of lowered tax rate

Permanent extension of the reduced tax rate, including the tax bracket of 10% for low-income taxpayers.

3. Expand tax credit for children

The child tax credit was temporarily increased from $ 500 to $ 1,000 per child. ATRA makes this permanent increase. It also makes the tax credit permanent additional child, which in some cases means you could receive extra credit for taxes you paid or had withheld from your salary.

4. Excluding deduction of the line for tuition and expenses related to education

This arrangement reduces your taxable income, even if you don, AOT itemize your deductions . In addition, reducing your adjusted gross income, it can help you receive additional tax relief.

5. Higher child and dependent care credits

You can take the credit based on up to $ 3,000 of child care expenses, or $ 6,000 if you have two or more children. Depending on your income level, you may be able to take credit for a maximum of 35% of these expenses (up 30% if extended benefits had not been extended).

6. Deduction for mortgage insurance premiums

Most owners, who have to pay mortgage insurance premiums, usually because they have capital below 20 % in their homes, can continue to deduct the premiums as well as the mortgage interest deduction.

7. penalty relief marriage

The, Äúmarriage penalty at refers repeatedly in the tax law where a married couple is treated less favorably than two single people. relief marriage penalty aims to remedy this; for example, setting the standard deduction for married couples to exactly twice the level of single filers. ATRA extends these remedies.

8. expanding adoption of credit

If you have adopted a child, the maximum amount you can claim a credit is higher than it would have been if the changes had expired. You can take a dollar for dollar credit for up to $ 10,000 in adoption fees. If you adopt a child with special needs, you can take the maximum credit, even if you spent less than that amount on the cost of adoption.

In addition, there are dozens of other tax benefits that were due to expire in late 2011.

most extensive donation arrangements, AOT force you to do something to draw left. The extended credits, deductions and other calculations are integrated into TaxACT . You enter your information in Step by Step sections, and we'll do the rest.

Other tax provisions can not help you if you know or are asked about them. For example, you must enter your adoption expenses and indicate that you have adopted a child with special needs, if true, to take advantage of the expanded adoption credit. Similarly, you can still deduct mortgage insurance premiums, so be sure to find them before preparing your return.

How many tax breaks you take advantage of this year that are related to your children?

photo credit: Evil Erin photopin via cc

Share

Have you ever watched Extreme Couponing and wondered if people on this show are crazy?

Does it seem odd that these people need an aspirin bottles or 1000 400 tubes of toothpaste?

Yes, they get it for free, but does that mean they absolutely get?

personally I shudder whenever I see things in excess, but that does not mean I do not believe in stockpiling and smart shopping.

While spending 10 hours per week may be overkill for most, learning sales cycles and keep handy coupons for products you normally use is just smart.

I emphasize that there is an essential difference between the crazy hoarding and storage of things that you normally use.

Why you need a stock?

Saving money. Yes, it saves you money, but only if you spend your money on things you are going to buy anyway. This is the biggest difference.

Say, for example, your favorite shampoo is on sale for 60%, take 5 or more and you're ready for a few months to a year (depending on how much hair you have), and you just you saved money, but say you see a kind of juice for sale for 70% off, but you do not drink juice. Silver Well, in that case, you just lost.

Just because something is on sale does not mean it is a smart investment.

less time in stores. OK, so it's not as clear as I'll explain. Initially, you spend a ton of time from your stock, but once you have all the bases, you do not need to make last minute travel reducing your shopping time.

you are ready for emergencies. If an emergency situation ever comes up (and not just a natural disaster like a hurricane or something of that nature, but job loss or serious illness), you don ' not have to worry about the grocery store because you will already have most of what you need in your reservation.

you may have to buy some things, like fresh produce, eggs and milk, but other than that, you should be set for a while if you have enough to keep you longer stored.

How much do you really need?

This is the most difficult question to answer. If you are single, you can do things last much longer if you have a family.

I see people get carried away all the time. They buy more that they never use and eventually get sick of doing the same thing.

storage food is an art and a science, and to find the balance is the key.

How to get started?

Figure out how long you need your reserves to last. This could vary from 3 months to 12 months.

Start by looking at the sales to your local grocery stores. If you see fantastic sales (not just the "good" sales but "fantastic" sales!), Available on the items and add them to your library.

Remember only store what you will be able to use before the expiration date.

Find coupons to help cut costs even more. While you will not be able to use them on everything, find the right products you can use them on can make a huge difference.

Make sure you set a budget for how much you can spend on storage. Its very important. I recommend $ 5- $ 20 per week for storage (more if you can afford it). Do not exceed the budgeted amount. If you do, your savings go up in smoke.

If you do not use all your "inventory allowance" in one week, transported to the next week. Some weeks are better than others for big sales.

Where to store your reserve?

Storage seems to be the biggest problem, especially if you live in a small apartment. But with a little creativity, you can stay your actual and hidden reserves of sight.

closet. If you have a closet that is slowly becoming useless, you can store your inventory items in there. of course, you may not be able to store too (unless you have a large walk-in), but even a small stock is better than no inventory at all.

basement or garage. that are great places to store your stock, but keep in mind the varying temperatures, and do not store anything that should be stored at room temperature in the garage, especially if you get snow in winter.

Wherever you can find space. Some people keep things under their beds in a hallway closet, in the rooms of their children, etc. I personally do not have / want any of my clients to see, so I keep my stock in discrete locations.

Having a stock is great but not if it hinders your lifestyle.

Everyone can create a stock and saving money, it is the smart thing to do, but you should not go crazy with coupons to do.

do you have any additional tips for using coupons and buying in bulk for building a stock?

photo credit: dmdonahoo via photopin cc

These days almost everyone accepts plastic, including IRS.

Thanks to the Taxpayer Relief Act of 1997, the federal government accepts tax payments on the income by "any commercially acceptable means," which includes debit and credit cards.

but just because you can do something, it does not do not necessarily mean you should.

More often than not paying your taxes with a credit card is not the best choice.

expense?

When you buy something with a credit card, the merchant incurs a fee which is usually 1.5% to 3% of the purchase price

Normally, this is an expense you. - consumers -. will never see, because the merchant eats as a cost of doing business

now, do you think that uncle Sam will do the same? Fat luck.

the IRS charges you for processing fee of your card payments. The good news is that they have negotiated fees that are well below what most companies have to pay. The bad news is that these costs are still very high

There are five licensed processors and here they ask :.

Thus, in the best case, you will pay at least 1.88% of the amount.

This might be acceptable if you have a few hundred dollars, but if you pay thousands of dollars that the tax can be a lot of money.

In the worst case, you not only pay this fee, but you are also paying interest on your credit card (if you are wicked and wear it as a balance).

But if you have no other choice, most people would probably say that it is better to be indebted to Chase or American Express as intimidating IRS!

rewards?

On the positive side, paying with credit can save you money-back, airline miles or other rewards. But will value they exceed the cost of treatment? Usually not, but it is possible

Some cards give you rewards worth 2%, but not many

You can count on one hand all ..; Capital One Venture, Fidelity American Express, Priceline Rewards Visa and Capital One Spark Cash for businesses.

If you use one of those, then you can get ahead, but not by much.

Unfortunately, with most other cash back cards, you will earn 1%, so that they will be a losing proposition.

The same goes for most airline credit cards, as the miles are seldom worth 2 cents each. In fact, sometimes they are worth less than a penny a piece!

For example, the Delta SkyMiles program is notorious known as "SkyPesos" in loyalty circles, because the award flights may require a lot more miles than the standard 25,000 you pay with most other carriers.

another possible scenario where you can get ahead is by using a registration promotion for a new card.

Many offer bonus points or cash if you spend a certain amount in the first 0 days of opening the account.

For example, you may have to spend $ 3,000 in the first 3 months to mark the bonus.

for some of us, our normal credit card spending may not be high enough for it. But if you charge your taxes on the card, which could put you at the finish line.

Of course, you always pay the processing fee, but perhaps worth it if you get a free ticket or a nice sum of money in return.

Conclusion? You should probably stick with controls

Except for a few cases, it probably will not make much sense to pay with credit.

Rather than pay the heavy processing fees, consider using checks or ACH (electronic checks).

cards are another good alternative debtors from those involving a reasonable flat fee of just a few dollars. If you are lucky enough to have a debit card with rewards, keep in mind that you do not win awards on PIN-based transactions, which unfortunately is what your tax payments will be.

Photo credit: marsmet543 via photopin cc

Share

weekly Favorites: April 5, 2013

investment spending: how to spend tax refunds and unexpected controls via Ellie Kay
the biggest question most Americans have when they get their income tax refund is: where should I spend? I believe you can make a wise choice on how to use your tax refund that will have lasting benefits by learning the method of "capital expenditure plan." Continue reading ...

7 reasons why your personal budget is a failure and how to fix it via Money Crashers
So what does someone one with the best intentions to do when a budget is not working? It is usually human error which fail a budget, and investigating possible blunders, you can know where you went wrong. Do not fear your budget. Read more ...

tax moves to make in April 2013 via Kay Bell
Do you see that light at the end of the tunnel? You have two weeks to determine if it is daylight a wonderful April 15 in which you complete your tax return or tax functions now barreling straight for you. Read more ...

Tax deductions Crazy via CNN Money
nose jobs. Underwear. Bail money. Sex toys. These are some of the wildest deductions tax preparers have seen clients try - some legitimate, others not so much. 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

Photo credit:.! Sprengben [why not get a friend] via photopin cc

Share

weekly Favorites: April 26, 2013

How to survive a tax audit via CNN Money
the tax season has finally wrapped, but the season audit is about to begin. The odds of being dealt an audit are low - about one in 100. But if you happen to be selected, you can take some steps to make the process a little less painful. Read more ...

8 Secrets of money every mom should know via LearnVest
Here are eight facts of money that I learned while in the middle of having baby in some cases, I had time to do the right thing financially, while others slipped a little too late for me to enjoy them this fiscal year. But that does not mean you can not. I also talked to a certified financial planner who added his own advice insight and money-saving. Continue reading ...

10 tips for taxpayers who owe money to the IRS via Sally Herigstad
Have you received a letter from the IRS stating you owe them money? Sooner or later, chances are you'll get mail from the Internal Revenue Service. Nobody likes to get that thick envelope full of advice. Before you get that letter to ruin a good day, however, take note of these tips. 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

Photo credit:.! Nicholas_T via photopin cc

Share

When you are short of money - whether because of unemployment, disease, or just the desire to buy a new bike - it's easy to start eyeing your retirement funds

After all, you have contributed to them all these years .. and it's your money

If your account has increased in value -. Lucky you -. It may seem that you can afford to take a bit early

On the other hand, if you 've looked at your account go down, it's easy to think that it makes no difference. Why even try? Why not take one out and use your money now

There are many reasons why you should leave the money where it is :?

1. Sanctions

If you have not reached 59 ½ years, you might have to pay a penalty 10% on the money you withdraw.

Ouch!

There are exceptions.

you can avoid the penalty if you are totally and permanently disabled, you have very significant medical expenses, you use the money for higher education, or if you use the money to pay for the insurance when you are unemployed, for example.

Unfortunately, the sanctions are not all you have to worry about when you withdraw money from a traditional retirement account.

2. Income tax

You will probably also include withdrawals as income on your tax return.

If you take a significant amount of money at once, withdrawals may push you into a higher tax bracket.

In addition, you may lose the benefit of certain credits and deductions.

you have to pay tax on withdrawals from traditional retirement accounts, even if you are over 59 and a half years.

In other income and deductions, you could end up paying 25% or more of the withdrawal of income tax.

If you are also paying a penalty, withdraw money early starts to look a lot less attractive. There is not much!

If you wait until retirement to withdraw money from your retirement account, you'll still have to pay tax on income.

However, most people are in a lower bracket tax income after retirement.

Withdrawals from a Roth IRA or similar retirement account are not subject to income tax.

3. the time value of money

The beauty of compound interest is the way it makes your investment grow over time.

However, it takes time for compound interest to work.

If you put $ 10,000 in an account in 40 years, and you get a rate of return for the next 25 years by 6% without adding more to the account you have retired $ 42,919 65

If you wait until 50, however, that same $ 10,000 investment would be worth $ 23,966 when you're ready to trade your car for a ride golf cart.

Take money from your retirement fund, especially on a repeat basis, as is again.

it will just be much more difficult to raise enough money for when you need them.

4. Pension funds are legally protected

If you hit hard times financially; For example, if you get behind on your mortgage and other bills, your creditors may be able to take you to court and attach your assets, such as bank accounts, investments and wages.

However, in most cases, they can not access your retirement accounts. They are safe.

This is why a financial crisis is usually the last time you empty your retirement accounts.

If your finances are headed down the drain, do not send your retirement money with him

. 5. Pension funds are retired

This is the most important reason of all.

Too many people are still not saving enough for retirement.

In fact, a survey by the Consumer Federation of America and savings Council of American education found that only 49% of non-retired respondents believe they are saving enough for retirement.

Unless you can work forever, you'd better stay on good terms with the in-laws - when you are living on social security benefits, you might need their spare bedroom

Better yet, find another way to make ends meet during your working years

.. you put money aside for retirement, and it is what it is for .

How hard until you would have to be before you take money out of an early retirement?

photo credit: the pics- pam via photopin cc

-

weekly TaxACT favorites: June 21, 2013

states collection More Tax Money via Bankrate
A new survey indicates that taxpayers in most states should soon enjoy the benefits of the economic improvement "their places and fortunes collection fee. Continue reading ...

12 Fun Ways to Save on wedding costs via LearnVest
Say "I" does not mean saying yes to the debt or separation with every penny you 've saved a down payment on a house or a car. Here are some tips to get hooked in style, without "losing your savings or your sanity!" Continue reading ...

IRS can help treat children Bankrate via
parents most workers are well aware they get a tax break to help cover shipping Jimmy or Janie to day care. But some parents give the tax benefit of day camp fees summer. Continue reading ...

is it something that you met this week that caught your attention? We'd love to hear. Let -The in the comments below

Photo credit :. Adam Foster | CODEFOR via photopin cc

Share

Have you ever thought your child a credit card?

If you want to start a friendly debate, ask a group of parents when they should give a child a credit card.

The answers will likely vary "when it can pay for it" 105 years. Some parents say, "Never!"

Every child and every situation is different, however. Learn to use wisely a credit card can be compared to learning to use a kitchen knife. You could have a free kitchen knife, but that would not be very practical. You can prohibit your child to use a knife until he was 21. Or you can let it start using small knives, under supervision, and increase the authorization for him to use knives increasingly autonomous, as it matures.

Using the kitchen knife in principle, to consider these factors before you hand over the plastic to your child :?

Does your child need to use a credit card

If any child purchases can be paid with the money, why even bother with a credit card? Children can learn the budgets never use plastic.

Indeed, there is something to say for first budgets with money and envelopes. It helps keep it real

If your child buys things online, is traveling without you, or for some other reason needs to use a credit card, you may want -. Partly for your own sake - that your child had a map.

It is better to let a use of 16, yours.

are you willing to co-sign or be the primary account holder, if your child is under 21?

Children under 18 can not enter into a credit card agreement. The only way they can legally have a credit card to be an authorized user on the card of someone else.

If you want your child to have a separate card, you will need to open one in your own name and add him as an authorized user.

in 2010, a person between 18 and 21 must have a co-signer on a credit card, unless the person can show how they will pay the balance.

Have you taught your child how to use a credit card?

Before your child gets the first card, make sure he or she understands grace periods, interest costs, and how to avoid paying additional fees.

Talk to your kids about identity theft and how to avoid it.

Explain how important it is to report a lost card immediately.

Before a child carries a credit card, he must be aware of the responsibilities and risks.

If you use credit cards as a short-term payment tools, not as a way to live beyond your means, you have set a good example for your children to follow.

your child may have to pay the credit card bill

? using the first credit card can be a great learning experience. Most children are not, however, need help to learn to spend ,. He is the pay that takes practice.

Even if the child pays the bill with an allowance or earned money by doing extra work, it is important that he or she pay the bill.

Otherwise, it is not really account for the child. It's just a way for them to spend money.

Can you limit financial risk?

You would not give a child a large knife, wickedly sharp the first time he tries to cut a cucumber. A small paring knife, used with a cutting board, would limit the potential damage. It is the same with credit.

Do not let your child has access to more credit than he or she could pay off in a short time.

Your child is trustworthy?

Some children could trust with your life at an early age. Others may be distracted or have lessons to learn about reliability.

Nobody's perfect, but if you are unsure that your child is ready for the responsibility of a credit card account, just wait.

Do you talk about credit card debt with your kids

photo credit: _Dinkel_ via photopin cc

Have you ever experienced a job loss?

Losing your job is a traumatic experience.

You lose your income and benefits, sense of security and identity in employment at a time. You can have friends at work that you've seen every day for years. The next morning you are laid off, everything is changed

It is important to take steps to help ensure your financial survival -. As soon as possible

Here's how to start your -Step 5. Plan to survive a job loss:

Step 1. Find out what you have to work with

go to the website of your employment agency of the state, and to estimate your unemployment benefits (or go to the office of employment status).

Add your assets, such as checks and brokerage accounts. Make another list with your other income, such as salary from your spouse and your expenses.

Step 2. Estimate your taxes for the year.

When working only part of a year, but you had tax withheld as if you work all year, you may have been too successful.

you might even be smart to have your spouse change her refusal to work so your spouse becomes more take -home pay.

If you need to have more successful, request that the income tax withheld on your unemployment check.

Step 3. make a basic budget.

This is a budget that shows the absolute minimum that must be for you to stay financially afloat.

you can not have to live on this basic budget, which will be no provisions for lattes, movies, or maybe even the cable, but it is liberating to know how little you can live if you must.

If it looks like you can get by on unemployment for a while, consider drastic measures.

Sell the car payment, switch to a lower portion of the cost of living or with relatives and cancel the subscription or magazine and online membership gym. (Often, they'll let you out of a contract or suspend it if you are unemployed.)

Contact your mortgage lender and ask about the austerity measures if necessary.

Step 4. Find the job.

The work may not always work, though it may be. Do not limit yourself to a narrow field or geographical location, to work as an employee or a job that looks like the one you just left.

Consider using your talents, at least while you look for something in your primary domain. (If you do not have other talents, now is a great time to develop some. Everyone should have at least two ways in which they could earn a living if they had to.)

Do not neglect temporary or part-time work. It can put you in the door to a "real" job.

Step 5. Stay busy.

Get up every morning and get dressed. Instead of dwelling on bitterness, try to see unemployment as an opportunity for change.

to volunteer work on your resume, take classes. The more people you meet and stay in touch with, and the more current you keep your skills, the better your chances of getting back to work soon.

If you had the choice, would you like to work for a large company, a small business, or for yourself

photo credit: Leandro Pérez photopin via cc

What is the one thing you want possess, but you hope you never use?

This is health insurance!

In fact, the average three-day hospitalization cost $ 30,000, which would disappear altogether accounts for most families savings and / or children's college fund.

Buying health insurance is an important way for you and protect your family in case of injury or illness, the more the new law!

If you did not know this, you are not alone

42% of Americans are not aware that most of us should have t insurance health care from January 1, 2014 by the affordable care Act -. Tweet this .

45% know nothing at all about the health insurance market (also known as exchanges).

Let's take a look closely at the different health insurance coverage options to help clear some. confusion

Four ways to obtain health insurance

employer: Continue to purchase insurance through your or the your spouse's employer. The vast majority of those who go this route will see little to no change in coverage and will not need to buy through a market

On your own :. You can buy directly from an insurance company, with the help of a broker or an agent, or by an online service

markets :. . you can buy insurance you health through your state market

government-sponsored plan :. Those who qualify for government programs such as Medicare or Medicaid can enroll in these plans to get coverage

There are those who will choose to go without insurance in 2014, but most of of them will have to pay a penalty tax (estimate the amount of your penalty in 2014 with the tax penalty calculator TaxACT health care), climbing every year. However, there are exceptions.

Use of health insurance contracts

What's New?

Anyone who has ever made a purchase via Amazon or booked a trip through Expedia or Travelocity, used a "market" to compare and purchase a product or service.

health insurance markets operate similarly.

market coverage typically include:

• emergency services
• maternity and newborn care
• health disorders and mental abuse
• preventive services and wellness
• chronic disease management
• pediatric services, including dental care and vision

When?

You can ask the insurance market in your state from 1 October 2013, with coverage commencing on 1 January 2014 (if you buy 15 December 2013). Registration open for 2014 ends March 31, 2014.

Patrick Blair, CMO Wellpoint said: "There is much to learn about the exchanges - the health insurance market will change health care as we know it. It is not a maze, but you may need a map. "

Help?

You may be able to get help paying for your health insurance costs if you buy coverage in a market. Discover if you may be eligible for health care Calculator TaxACT tax credit.

Select the Right health insurance plan

It makes sense to have insurance here January 1, 2014, because in addition to the penalty, even a simple broken arm fee, without surgery, could cost $ 5000 +.

so it's a perspective "pay me now or pay me later." There is no need to pay more than necessary for health insurance

Just be sure to use the checklist below :.

• Visit the market in your state review the different levels or planes, and to compare the cost and coverage of each
• Make a list of questions to ask before buying a plan, including: . Can I keep my current doctor and the plan cover emergencies in another state or country when I'm traveling? Does my plan cover my prescription drugs?
• Visit your state market. Review the different levels or planes, and to compare the cost and coverage of each.
• Calculator Tax Credit for Health Care Use TaxACT to help assess whether you may qualify for a tax credit on premiums when buying insurance in a market.
• Review your budget to decide how much you can pay for health insurance and rework your finances to make sure you are not overloaded.
• Decide whether to adult dental care and vision. dental and pediatric vision can already be part of your plan in 2014; you may want to decide whether to add coverage for adults as well.
• Stay informed by going to Healthcare.gov and TaxACT to find updates on the reform of health care and taxes.

Be Wise through preventive health practices

The best protection against rising __gVirt_NP_NN_NNPS <__ medical expenses is still prevention. - Tweet this

So consider embarking on a healthy workout program or plug into a support group to take control of your health, such as Weight Watchers

.. These kinds of support groups can provide an opportunity to change your life, not only physically but also emotionally and even financially, as you can see in the health connection richness found in the book Lean Body Fat Wallet .

Find out if your plan includes "health initiatives and wellness" and financial incentives.

For example, many health insurance companies offer a financial break on an annual premium if the insured can prove that they attended a health center and fitness three times a week

What are you doing to comply with the affordable care Act

photo credit:.? Lekke via photopin cc

weekly TaxACT favorites: October 18, 2013

not get Sucker Punched By Your Own debt Denial via Jeff Rose
"Oh, we do not have much debt. Our house is paid for. We do not have that many consumer loans. "These famous words were spoken by a couple who came to me for help with retirement planning. Or were they? Continue reading ...

5 financial decisions in your 50s that could haunt you in your 80's via Forbes
in our 50s, we should find a delicate balance of life right now while planning for our future. for most of us can not afford to make financial mistakes, and yet we do not want to put our lives on hold. Here are five financial decisions many of us do in our 50s that may come back to haunt us in our 80s: Continue reading ...

Good News for Millennials: young people less likely to default on credit card debt via NerdWallet
in a classic case of conventional wisdom prove not to be so wise, new research has shown that, surprisingly, those in their twenties are much less likely to default on their credit cards than those in their forties and fifties. We know what you think. 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

Photo credit :. Stuck in Customs via photopin cc

How can I buy all the gifts I have to give and still stay on budget?

since I was a child, I am a born giver. My mother scolded me because I gave my doll at a girl.

"Why did you, Ellie?" My mother said as she shook her finger at me.

"Because I had two dolls and did not all!"

I still love to give gifts, but I do not want to go on the budget and to my family to pay the price for my generosity.

by following the tips listed, you and I may as well stay on budget and still be generous donors.

The Number one Gift Choice :. Gift Cards

you are shopping for a birthday present, holiday gift or birthday surprise the chances are better than not that you will consider purchasing a gift card for that person on your list

But there are some things you should be aware of before you buy.

Closings store. once you have purchased the gift card, a store may close. You really have to be careful in buying gift cards because when a store files for bankruptcy or closes, it is up to the bankruptcy courts and too often they are not to honor gift cards existing.

Some stores closed in recent years have moved away from $ 20 million in unhonored cards!

fees on gift cards. in 2010, the Disclosure Act (CARD) Accountability credit card responsibility and was set up to protect consumers and retailers in the field of gift cards.

This protects brand prepaid cards (AMEX, Visa, MasterCard) have an expiration date of less than five years after purchase.

further, dormancy, inactivity and service fees can not be charged after 12 months

. Warning: some of these cards can still charge a fee every time the balance is checked, the card is used, the customer service is called, or if you need a replacement card. Read the fine print before buying.

The stolen numbers. Before buying a card, especially one that is hung on a gate in the public (as in a grocery store), inspect the card to ensure that the stickers are not deleted and the PIN numbers are not visible . Or apply for a card that is behind the counter or has not been filled in the rack.

Make sure you also get a receipt of purchase activation when you give to others. Thieves are writing numbers and pin, then periodically check online to see when the cards are active, they steal the card balance.

Gift cards are always a popular and convenient way to go in today's economy.

In fact, some families may enjoy a significant discount card to a retailer because it will allow them to buy groceries and clothing.

If you pay attention to the details of the gift card, it can be a great gift to give.

Buy Online

a way to stay on budget is to "layer economies"

The steps to save big online.

1. the first step is to go to MySimon, Amazon and Bing, which are robots that search the Internet for your article to find the best deal possible shopping.

2 . once you've found the best deal, the second step is to go to a site code as RetailMeNot and CouponCabin to find the codes you need to save even more. Sometimes these codes for free shipping , gifts or discounts.

3. The last step is to get a refund for your shopping, going to Ebates or SlickDeals.

on some of these sites, for example, you have an account and get your friends to sign up under your account, you can earn $ 5 per referral. There are hundreds of sites online participants that will give you a discount off your purchases and you get a check at the end of each month

Purchases year :. When to buy and when not to buy

one of the best ways to save is to pay attention to the schedule and buy gifts when they are in seasonal sales.

a new set 1000 son-count Egyptian linens for your student can be a great gift, especially if purchased during a biannual white sales so you pay half the price

Here's a guide when you need to buy some items to get the best offer :.

Toys. although it is difficult to beat the post-Thanksgiving and Christmas sales, there is another good time of year to buy-August

Not only can very tender be collected on summer toys as play equipment and pools, but other "high" space objects are erased in preparation for next season stock toy. This can save up to 65%.

Video Games. new games of the season are usually released during the holidays and it's time to find the best.

But if the price is a consideration, then just wait until January or February, after the initial hysteria died down and the savings can be even greater.

television and electronics. Yes, the eruption of the electronic sales usually occur around the holidays, but April is really a better time to find deals in this category.

most Japanese companies end their fiscal year in March. This means new models come on the market and it's time to get rid of last year's models. Rates for as much as 20% to 25% or more can be had during this period of the year.

Are you a born giver? If so, which is how you plan to record as you give to others this year

Credit: kevin dooley via photopin cc

What are the benefits of the Affordable Care Act provides for the self-employed ?

Three important benefits under the ACA

• the potential for a shopping experience easier,
• the possibility of financial subsidies, and
• the ability to easily compare one plan against another.

compare health insurance options

comparing health insurance options for multiple health insurers will be very different from the insurance shopping in the past, said Claire McAndrew, health policy analyst senior Families USA. Previously, the self-employed had to move from one insurer to another, making it difficult to compare plans and options in the plans, it adds.

In addition, all health insurance plans offered in the market must comply with federal standards laws, which means that each plan must provide full coverage.

In the past, insurers have offered bare minimum plans, which were often inadequate if the costs of the health of a consumer were high.

You can find your state market on the federal website, or if your state runs its own market, such as those in California, Kentucky, and New York, start there.

The Commonwealth Fund offers an interactive map of markets facilitated by the federal government and the state base.

available financial aid

One of the biggest benefits to which the independent federal tax subsidies for qualified individuals whose income is at or below 400% of federal poverty level. If your adjusted gross income qualifies you for a grant, you can receive a tax credit on advanced premiums applied directly on your monthly premiums, says McAndrew.

Or, use this calculator grant HealthcareACT.com.

Do not Worry, Be Covered

another advantage for the self-employed is the ACA requires insurers to offer coverage to everyone, even if you, your spouse or a child with a preexisting disease.

Previously, insurers exclude independent candidates for pre-existing conditions because they were not part of a group.

Moreover, health insurers may not pay more if you or a family member has a medical condition. In fact, when you apply, no one can ask if you have any medical conditions. All you will be asked your age and whether you smoke. Some markets, such as Washington, DC, and California, do not even ask to smoke, says McAndrew

Mark your calendar :. Dates

You can start shopping now the state of your market. But you can expect to choose and pay for a plan until December 23 for coverage that begins on January 1 McAndrew advises.

You also have the option to wait until March 31 to register and pay for coverage and not face a tax penalty, but McAndrew warns that until then, you will be assured. After March 31, anyone who does not have health coverage may be subject to a penalty tax when filing a tax return for 2014, she said.

Some important tips

The self-employed are like most consumers that choosing a health insurance plan often means having access to a doctor, hospital, or two

. to ensure that a provider is in your network, verify by calling the doctor and hospital, McAndrew advises. Do it after choosing a plan, but before you complete the application and pay.

to watch for?

There are two issues to watch in the coming years.

1.) how much your health insurance costs increase or decrease each year, and 2) what is the amount advanced premiums tax credit change every year?

#YouGotThis

photo credit: DOK1 via photopin cc

The deadline to get health insurance approaches.

If you do not have access to health insurance provided by the employer and are not eligible for Medicaid or Medicare, you must ensure that you have health insurance that meets the requirements of the affordable care Act (ACA) before January 1, 2014.

If you do not receive insurance from qualified health before the deadline, you may be liable to a penalty tax to the IRS.

by planning ahead you can ensure you get the best deal for your situation and maintain medical coverage for yourself and your family.

research your plan options

to find health insurance, you can go directly to an insurance company, use a broker or insurance agent, or use an online service.

The federal government also provides a plan healthcare.gov Finder to help you find plans in your area. Note:. This plan detector is not the ACA health insurance market

The application of a plane

If you want to apply for health insurance that meets ABA rules, you can do it outside the ACA health insurance market, but you will not be eligible for a grant or a loan.

In addition, you may not get a reduction in costs depending on your income level.

must apply through the ACA market if you may qualify for credits or subsidies. To apply for health insurance through the market of the ACA, visit HealthCare.gov.

If you want to have insurance in effect on 1 January 2014 sickness, you must apply on December 23, 2014.

The open enrollment insurance market disease to 31 March 2014.

Avoid a penalty for not carrying health insurance

If you do not have health insurance in 2014, you might have to pay $ 95 per person penalty or 1% of your annual income, whichever is greater on your tax return due in April 2015.

However, you have until March 31, 2014, to register and avoid a penalty for not not having health insurance in 2014. this is true even if your insurance does not go into effect before 1 May

you do not have to worry about this penalty if your income is low enough you do not have to file a tax return.

you are also exempt from this law if you are a member of certain religious groups, a participant in a health care sharing ministry recognized, or are a member of a federally recognized tribe.

you also will not be penalized if your premiums cost more than 8% of your family income.

Make sure you have health insurance coverage

Remember, pay a fine for not carrying health insurance do not qualify for a care coverage medical. If you do not have insurance, you can pay a fine and be liable for catastrophic medical bills if you have a serious medical event.

It is important to plan ahead. The application of health insurance can take time, especially if you go through the ACA market.

What if my old age insurance plan is canceled?

Some insurance plans change when they renew in 2014 to meet the requirements of the ACA. In this case, you can accept the plan with its new terms, or shop for a new plan.

If your insurance company cancels your plan, it must notify you within 0 days of cancellation and give you the opportunity to buy one of their other plans

What is the highest deductible you consider to have on your health insurance plan

photo credit:.? Kalexander2010 via photopin cc

For most people, the biggest change in 2014 is the individual mandate for health purchase insurance .

If you are a high-income taxpayer, you can also pay higher tax rates and new taxes.

If you qualify for some tax breaks, you'll be pleased to know most of them are extended until 2014 or beyond.

See if any of these changes affect you.

The Patient Protection and mandate Act Health Insurance Affordable Care goes into effect

Starting in 2014, you must perform a minimum health insurance for yourself, your spouse and dependents, or perhaps pay a fine.

If you have adequate health insurance through your employer, you buy coverage for yourself, or you are enrolled in a government program like Medicaid, you have to do something different

If you qualify for an exception. For example, if your income is too low for you to be required to file a return, you will not have to pay the fine.

If you are not covered or qualify for an exception, you may be hit with a tax penalty of up to 1% of your annual income, or $ 95 per person for 2014, the highest . Punishment ranges in 2015.

New 3.8% Medicare tax on investment

The Affordable Care Act also mandated an additional fee of 3.8% on income investment, including interest, dividends, capital gains, rental and royalty income.

This special tax is collected for health insurance, from 2013. You pay only if your modified adjusted gross income is $ 0,000 or more ($ 250,000 if filing jointly, or 125,000 $ if married filing separately).

you pay tax of 3.8% in addition to the taxes you already pay investment income. For example, if you pay 20% tax on long-term capital gain, your total tax on the gain is 23.8% (20% + 3.8%).

Cost Health Insurance New Medicare payroll

The Affordable Care Act levies a special tax on wages and other income of high-income taxpayers.

you have to pay this tax if you earn more than $ 0,000 in wages, compensation and self-employment income ($ 250,000 if filing jointly, or $ if married and 125.000 filing separately).

your employer generally retains the tax on supplementary health insurance from your salary. If you're self-employed, you must plan for this tax when you calculate your estimated taxes.

This tax came into force in 2013.

simplified option for home office deduction

The IRS may have good news for if you are working from home as an employee or self-employed and take a home office deduction.

from 2013, you can use a simplified option to determine your deduction, based on $ 5 per square foot of home use for businesses (up to 300 square feet).

When you take the simple deduction, you can still deduct mortgage interest and property taxes in full itemized deductions. In addition, you do not have to worry about calculating depreciation of your home, or resume amortization later when you sell your home.

energy credits

Thanks to an extension until 2015, you can still get a tax credit for energy efficiency for the qualification of energy-efficient products such as windows and doors, biomass stoves, and insulation.

The credit is 10% of the cost of your improvements of qualified energy installed during the year, as well as all costs of residential energy property

Your Credit total for all years after 05 can not be more than $ 500

Background: .. IRS e-file starts the end of this year

IRS will begin processing tax returns on personal income from 31 January 2014 the IRS is getting a late start accepting e-file returns this year because of the sequester.

However, if you have not already, start your TaxACT return now so you can send a file and be at the forefront when the IRS begins accepting e-file returns. We will hold and then submit your return to the IRS as soon as he begins to accept returns of TaxACT and other tax preparation solutions.

Did you start planning your tax year 2014 as you prepare your 2013 statement?

photo credit: thomasstache via photopin cc

By the first or second week of February, you should have received information returns for each employer you worked for last year.

you should have also have received statements of places you have paid or that you made payments related to tax.

keeping these handy forms and grouping them by type, you can prepare your tax return a breeze

The most common forms of tax you may receive :.

W-2 form, wage and tax statement

This is the form you, AOVE expected, showing your total wage and withholding tax income for the year. For some people, this may be all they need to do their taxes. For the rest of us, the W-2 form is just the beginning.

Form 1099-MISC, Miscellaneous Income

If you are self-employed or contract labor during the year for other companies, the IRS requires these companies to send you the form 1099-MISC at the end of January. You should receive it shortly after.

You must declare all income of the company, including payments in cash or barter, whether you receive a Form 1099-MISC.

1099-G, certain government payments

If you receive unemployment compensation benefits, you, find the Äôll reported on Form 1099-G. You must include unemployment benefits in your taxable income.

You, Äôll also receive Form 1099-G if you received other payments from the government, and particularly the state tax refunds. tax refunds from the state may not sound payments, but they must be added to your income if you have already received a tax deduction for the State paid.

When you enter your information in TaxACT , the program determines whether your state tax refund is taxable.

1099-K form, payment cards and network Third Party Transactions

If you accept credit cards in your business, the bank indicates your total bank revenues map on this form.

Form 1099-R, Distributions Pensions, Annuities, Retirement or Profit Sharing Plans, IRAs, Insurance Contracts, etc.

retirement income distributions and pension plans are reported to you on Form 1099-R. If the financial institution calculates the taxable portion of your distributions, they report on this form as well.

1098-E, Statement of Interest Student Loans

You can generally deduct your student loan interest. This statement shows how much student loan interest you paid during the year.

1098-T form, Tuition Statement

If you paid for post-secondary education, you should receive this form with the amount of tuition and other fees you paid. Based on these expenses, you may qualify for tax credits or deduction for yourself, your spouse or a dependent.

Form 1099-DIV, Dividends and Distributions

reported on Form 1099-DIV how good you have received dividends and other distributions. It also indicates sections of these dividends are eligible dividends or capital gains distributions and are therefore taxed at lower rates for gains in long-term capital. It also reports other important tax information.

Your brokerage or other institution may use a form that is different from the IRS provides, but the information is the same.

Don, AOT worry if the Form 1099-DIV shows words such as, ÄúUnrecap. Second. 1250 gain. At All you need to do is enter information in TaxACT , and the program will report each amount to the right place on your return.

1099-INT form Interest income

You, Äôll receive this declaration by banks, brokerages and other institutions that pay you more than $ 10 in interest for the year.

you must report and pay tax on interest, regardless of whether you receive a 1099-INT form.

Form 1098, Mortgage Interest Statement of

statement of interest is the amount of mortgage interest you paid during the year as well as property taxes from your bank paid from your escrow account.

Schedule K-1

This form may include income, deduction and other tax attributes of a partnership or other entity pass-through. You might have to wait your Schedule K-1, as it can only be sent after the tax return entity, AOS is complete.

prefer to start your back when you get your W-2 form, or do you wait until you have all your forms

photo credit: r.nial.bradshaw via photopin cc

Weekly we will meet one of the most frequently asked on the blog of Facebook Questions, Twitter and TaxACT in "You Got it" weekly series

issue :.

Make self-employed, not like to own their own business, but as representatives of companies like Avon and Mary Kay, report their income separately on their tax return or multiple revenue can be combined into one?

Brian via Facebook

answer

You must do report the income of each company separately on your tax return. You do this by completing a separate Appendix C , Profit or Loss from Business, for each activity.

What qualifies as a separate company?

Each activity for making a profit is considered a separate business.

Let's say you are an independent sales representative for both companies, Mary Kay and Avon. You report your income and expenses for the company Mary Kay on a Schedule C. The revenues and expenses of the company Avon will be presented on a second Annex C.

Should I report the income if I n 't make a lot of money?

If your only income is from self-employment and total earnings of all activities is below $ 400, then you are generally not required to file a tax return.

If you need to file a tax return, you must declare all net income from self-employment, either $ 1 or $ 1 million.

This is true even if you do not receive a 1099-MISC form.

Every business that pays you $ 0 or more is required to issue a 1099-MISC. If you earned less than $ 0 and did not receive a 1099-MISC, you should always report your income on Appendix C .

For "You got that" weekly series questions, click here or sign up to receive weekly tips and resources in your email.

How much of your monthly mortgage payment is tax deductible?

The short answer is more than you might think, but not as much as you might hope.

Depending on how your mortgage is in place, probably your monthly payment includes principal, interest, taxes and insurance , also known by the acronym PITI

Let's take a look at each category to see if there is a deduction that can reduce your taxable gross income :.

Main - No

The principal is the total amount you borrow from the lender. It is not deductible

The part of your house payment that goes toward principal is generally lower in the early years of the mortgage term, but increases as the term progresses

interest - Yes ..

During the early years of a mortgage, it often makes more of your monthly payment.

the good news is that you can deduct from your gross income, according to the Internal Revenue tax information service for homeowners. This is one of the most beneficial deductions, because it applies to mortgages with balances of up to $ 1 million.

Your mortgage company should have sent you a statement, Form 1098, which describes how much you paid in principal and interest. You should report that information on your tax return

Property taxes - Yes ..

The property taxes on your home and the land it sits on can be deduced

If you bought your home during the tax year, you probably pay property taxes at closing. Your closing statement should have the amount you paid. This is usually the only part of your closing costs deductible.

If you have not bought the house during the tax year, property taxes, then you have probably paid for your county, city, or both. The tax authorities should have sent you a statement of how much you paid on Form 1098 in box 4.

Insurance - No and Yes

Your home insurance are not deductible nor your title insurance.

Home insurance is protecting your home and its contents from fire, wind, and other specified risks. Your mortgage company requires you to buy coverage, but the premiums - often bundled in your monthly mortgage payment - are not deductible

Title insurance is a policy that guarantees the title of a piece of property is valid .. It is often required by your lender but are not deductible.

private mortgage insurance, however, is deductible.

Most lenders require private mortgage insurance, or PMI, when a buyer can not pay a deposit of at least 20% of the purchase price. The cover protects the lender in case of default on the loan. The amount you pay is deductible and should appear on your Form 1098 from your mortgage company.

The outlook for next year

The private mortgage insurance just mentioned expired when the calendar turned to 2014 year. you can still use it for the 2013 tax year, but as things stand, it will not be available when you drop next year

In fact, the changes -. and even eliminating - the mortgage deduction -Interest are discussed almost every year. No one expects disappear immediately, but it is worth keeping an eye on.

What would be the loss of deductions based mortgage receivables impact on your taxes?

photo credit: Håkan Dahlström via photopin cc

For Don Wizard by TaxACT infographic click here .

Making charitable donations made a difference to those in need and can save you money at tax time.

Deputy donation TaxACT is a free mobile application that helps track goods and money you gave to charities. Your donation can be easily imported into TaxACT Deluxe next tax season to maximize your refund.

How to Make Charitable Donations

1. After opening the app, tap "Add gift."

2. Choose the type of donation:

• Itemize - Select this option to give values ​​to elements individual, such as clothing and household items. Deputy donation contains more than 1,300 to the verification of claims, the fair market value to help maximize your deduction
• Various bag -. If you want to give a value to donate loose many articles, or want detail later choose this category
• one-time cash gift - .. this type of gift is to cash donations made once or several times a year to a charity
• recurring cash donation - .. Select this for weekly, monthly or quarterly monetary donations

Learn more about each category below

3. Create a charity. Type your organization name and address of the street. If you wish, and you can choose an icon and color for each charity. The app records your charities to avoid having to do it if you give again.

4. Optional: Create a digital record of your donation by taking a picture of the item or a receipt with the integrated camera application. Then save it with the input of your donation.

[Click on image or here to view the Donation Assistant by TaxACT infographic]

Donations Enumeration

Deputy Don audit -backed, fair market amounts for more than 1,300 items to make it easier to value the item you donate.

simply choose the category that best fits your item and the app will guide you.

The application provides two distinct values ​​for each item. IRS guidelines indicate your article must be given in the "good" or "better" condition. Choose the status of your item for donation and the application will affect the associated value.

You also have the option to enter your own fair market value for each item.

If you do, keep in mind the IRS defines fair market value as "the price at which property would change hands between a willing buyer and a willing seller, neither having to buy or sell, and both having reasonable knowledge of all relevant facts. "

After assigning a value, you can create a digital record of your donation by taking a picture of the item or received with the device built-in camera application.

Various gifts Bag

If you do not have time to detail your gifts, use the Miscellaneous category Sac.

Various Bag you helps give your own value to the given objects. When using this category, it is a good idea to take a photo of donations and revenue.

one-Time cash Donations

Maybe give you money for a local youth program or a national charity once or twice a year. Use the cash category unique gift for this type of donation.

Enter the amount and a description of the gift, and a photo of the receipt.

Recurring Cash donations

If you make regular monetary donations, the application will help you set a recurring schedule for you. Simply designate the amount made each time and how often a donation is made.

As the gifts of dates occur, the application will ask you to verify the donations were made.

If you need to change the amount of the gift or miss a planned gift, simply access the charity and the gift of the deputy Dashboard gift and make the necessary changes.

You can modify one or more entries in your schedule recurrence.

Dashboard deputy gift

assistant Dashboard donation is the initial screen you see when you open the application.

you can also access it by tapping the home button of the slide in the menu at the top right of the screen or by pressing the icon of the house at the bottom right of the screen.

When entering donations, they are added to the table assistant edge gift to the front of the application. The dashboard shows each charity and the total given to each for the year.

Tap a charity to view events from individual donations. From here you can also view each donation and photos, and to change or delete the gift.

[Click on image or here to view the Donation Assistant by TaxACT infographic]

Donation Report

slide into the top right menu, you can access the donation report. It shows all items and monetary donations for the year.

In addition to reviewing the information on your phone, you can also have the report emailed if your device has an email account already set up.

version sent report is available via the browser on your tablet, laptop or desktop Web.

Import donation Deputy Information Into TaxACT Deluxe

in the time tax, you will be able to import your data into TaxACT Donation Assistant Deluxe. All information about donations you have collected will help you save time and money on your taxes.

Download App Today

Don deputy by TaxACT is available on App Store and Google Play . It is free to download, and free to use for all.

Clean your closet and help those in need.

weekly TaxACT favorites: June 20, 2014

Drowning in student loan debt

via CNN Money

I first graduated from college in my family. The choices I had were: stay on the housing projects where I grew up, or student loans. And I took the loan to improve my life. Since I graduated in December, I asked more than 100 jobs and landed three interviews. I also had a bunch of emails showing that I'm overqualified or I lack the experience to better paying jobs. Continue reading ...

pay bills: You are wrong

via DailyWorth

For the first time since 08, people have changed the order in which they pay invoices - but some experts say the US still does not have priority. Continue reading ...

What I would tell my 21-Year-Old Self About Money

via Susan Johnston

As a new crop of college graduates enter the real world after graduation season, many of them will be new to renting apartments and pay their own credit card bills for the first time. Reflecting on the months since my own graduation and entry into the world of work, this is what I would tell my younger self some money. Continue reading ...

Credit: Stuck in Customs via photopin cc

You dream to buy a house?

Some Americans have grown disillusioned homeownership during the housing crisis, but the real estate market shows signs of recovery in many parts of the country.

Before buying a home, however, consider these five questions to assess your readiness.

Why I want to buy?

buy property simply because "everyone does it" or "it is the American dream" are not good reason enough to take a loan for 15 or 30 years ahead.

and while many people refer to real estate as an investment, not a guaranteed return. Real estate values ​​fluctuate over time, and it can be difficult to predict what will appeal to buyers 5, 10, or 15 years into the future. That's why experts recommend buying a property you will enjoy.

Some people make money by flipping properties, but it is not for the faint of heart and requires a thorough knowledge of the local market and renovations.

Think about your reasons for buying a home so you can match your goals with the right property. Tweet this

Do I have my finances in order?

In order to qualify for a mortgage, you'll need to demonstrate a strong track credit and a steady income.

In most cases, you will also need a down payment. Mortgage lenders generally like at least 20%.

FHA and VA loans allow smaller down payments, but it can also mean a higher interest rate and pay for private mortgage insurance (PMI for short).

Several months before applying for a mortgage, check your credit report for errors. You may need time to dispute mistakes or work to improve your credit score so that you qualify for a mortgage loan or qualify for a better rate.

Some real estate agents will not show you the properties until you have a pre-approval letter in hand. This helps you and the agent to focus on properties that are within your budget.

Am I realistic about the market?

Some markets suffer from weak stocks, so that the properties are in a bidding war. Some have a surplus of McMansions but not many starter homes

Before you start looking seriously, do your homework and maybe attend a few open days to talk to a professional couple from the real estate on your expectations.

first-time buyers may need to lower their expectations to find something in their price range.

do not forget to take into account closing costs, property taxes, condominium fees and other costs in your calculations on the amount of mortgage you can afford.

Just because you pay $ 800 a month in rent does not mean you should get a mortgage that costs $ 800, because there are added expenses that tenants do not have.

How long do I plan to live here?

If you intend to own a property for a few years, then you may want to continue renting.

Even if the value increases ownership in this short time, costs such as legal fees or real estate commissions can eat into your profits fence.

This is why many experts suggest that you should plan to own a property for at least five years.

homeownership often makes the most sense for people who are considering moving into a long-term place.

Can I manage repairs and unexpected costs on my own?

When you rent a broken water heater or leaky roof is almost always the owner's responsibility. But when you own a property, it is your problem.

Make basic repairs yourself instead of hiring a handyman could save money, but there are often surprised expenses such as special evaluation of a condo association or a jump in property taxes that may inevitable

Make sure you have a healthy emergency fund to cover these costs

photo credit: .. ... via Piero photopin cc

If a credit card company or other creditor cancels your debt, That, AOS very good news, right?

This debt relief usually occurs when the creditor waives recovery of the debt or when the statute of limitations on debt collection is exhausted.

debt cancellation is not all positive news, however.

Apart from the negative impact on your credit report, you may need tax on the canceled amount.

you should receive a Form 1099-C, Cancellation of debt of the company, they also send to the IRS. The debt amount on the 1099-C is canceled as taxable income on your return, unless you qualify for an exception.

When banks are required to report the canceled debt

If your debt is canceled by bank, the bank must report to the IRS. The IRS requires banks to declare the cancellation of the debt owed to one of the nine, Äúidentifiable events, in the most common of these events.

1. A discharged bankrupt debt
2. Other federal or judicial procedures of the State which are non-binding debt
3. expiration of the limitation period to collect a debt
4. a negotiated settlement with the debtor
5. Termination of collection activity, if it is based on a decision or within their defined policy

It may not be clear to you why the debtor bank or creditor decides to report to the IRS.

However, if you receive a Form 1099-C, you must pay tax on the amount canceled, unless you experience an exception to the rule.

Exceptions to the rule

1. The main exception to pay tax on the canceled debt is if you can show that you were insolvent when the debt was canceled.

To be insolvent means that you have more debt than assets. If you couldn AOT pay your bills and bank canceled your debt, you are probably eligible.

You must have been insolvent immediately before the debt was canceled. It, AOS is not enough to tell the IRS you were insolvent. You must complete an IRS worksheet to prove insolvency debts were greater than your assets.

If you weren insolvent AOT, you usually have to pay tax on the canceled debt.

2. If these debts were rejected because you have declared bankruptcy, you were insolvent. You do not pay tax on the cancellation of debt.

How much tax you have to pay?

to pay the tax is still better than paying the full balance.

For example, if you Aore in the tax bracket of 15 percent, an additional $ 1,000 in taxable income will cost about $ 150.

IRS will tack on interest expense, but fortunately, interest rates for individuals are relatively low.

Were you surprised to receive a notice of cancellation of the debt of a debt long forgotten or a debt that you didn, AOT know you had?

photo credit: chrisschoenbohm