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Knowing Your Filing Status

Filing status is actually a really important part of filing your taxes on an annual basis. There are several different types of filing statuses for you to choose from, and they can impact what forms you fill out and how much money you get as a tax return in the spring. Because there are so many different things that are impacted by your filing status, it becomes vitally necessary for you to understand what different statuses exist, and which one specifically applies to you. If you end up filing the wrong IRS tax forms, then you may end up dealing with a wide variety of complications, and you will end up having to talk to the IRS directly, which can be a real hassle.

When you use a software tool like a free tax calculator, one of the most obvious benefits is that it asks you questions that help you determine how to file your taxes. For example, rather than simply asking for your filing status, which you may not know, the tax calculator is going to ask you “Are you married? Are you single?” and similar questions to figure out what your actual filing status is. This is the best way to make sure that you are filing your taxes properly, and don’t run into problems down the line.

A free tax calculator is also going to be able to help you determine what your deductions are so that you can get a feel for what kind of tax refund you are going to get. Whether you are an ordinary single individual looking for the standard deduction or a freelancer that wants to itemize deductions, a tax calculator can walk you through the process. The same is true if you are a parent with certain credits to file for, a tax calculator will be able to show you what to do for the best possible results.

Filed under Budgeting, Spending | Tags: Filing Status (federal income tax), Internal Revenue Service, IRS tax forms, Tax

5 Fastest Ways To Go Broke

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While you may have just received your paycheck, you don’t have any money in the bank. People today spend without thinking. We work so long and hard we are too tired to think intellectually about how we spend money. The result is that we are broke. Take the ‘thinking’ out of spending money and saving.

#1) Get a budget system. Trying to keep track of your budget on sheets of paper that seem to disappear is useless. Use your laptop for more than watching funny videos. Learn to use your spreadsheet program, download the latest financial software program or iphone app.

#2) Stop lying to yourself. Are you really keeping track of all you’re spending? Cooking the books doesn’t help anyone out, and impossible to get a true balance. Use your debit card for all your purchases. If you can see your spending in black and white it is to put a stop the impulse items.

#3) sits down look at where your money is going. Go online to your bank account and look at all your debt card purchases. Did you really need $20 worth of junk food at Seven- Eleven? It takes practice to getting on a regular budget. Only after a few weeks of doing this will you develop good spending habits.

#4) set up an emergency fund. You know your car going to need an unexpected repair, you are going to sick one of these days and maybe even loss your job. Don’t use your credit cards in these emergency situations. That’s not going to help you. Start setting money aside for life’s little hiccups. An emergency fund can get you through tough situations and not ruin your credit or cause you to go into bankruptcy.

#5) your significant other is a spender. The biggest fit couples have is about money. One can save the other likes to spend. Sit down and calmly work out a budget.

Filed under Spending | Tags: Bank account, Budget, Credit card, Debit card, Home, Money, Money management, Personal Finance

Earn a Little Extra Money

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In this slow economy, many parents are looking for ways to earn extra money. Stay at home moms are now looking to earn some extra cash to help with household bills and dad’s are looking at starting small businesses. Even students are looking for online jobs that can be done in between classes. No matter who you are or what type of lifestyle you lead, everyone wants to have extra cash in the savings account.

Many companies don’t want the high overhead costs that come with hiring employees. With many states requiring employers to carry health insurance for employees and all that comes with taxes, hiring freelancers to do work is quickly becoming popular. This means that there is more opportunity for a person to make money any time of the day or night. Many companies hire people to transcribe, write, and even Tweet for them.

When deciding to work online, think about what you would like to do. You might as well take this opportunity to create a job for yourself that you truly enjoy. Are you looking to start your own business or do you simply want to do a few tasks for another person? Are you willing to market and promote yourself or would you rather wake up to work already waiting in your email inbox? All of these things must be considered when looking to make some money from home.

No matter what you decide to do, flyers are an easy way to promote your business or services. Go to an online printing company, design your flyers, and then sit back and wait for them to be delivered in the mail. You will be creating an image and building a brand for yourself when you use flyers to promote your business. No matter what you decide to do to earn extra money, flyers are a very inexpensive way to get noticed.

Filed under Banking, Budgeting, Spending | Tags: Employment, Money from Home, Small business

The best time to book a flight

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It’s certainly not a big talent to have to know when is the best time to book a flight ticket. You might be someone who is eagerly waiting to take your family out on a world tour. Fully knowing the costs for such a tour, you might want to know when is the best time to book a flight. Flights are expensive in the peak season. It’s very much got to do with the demand-supply ratio. When demand for flights increase, prices of air fares shoot up. When demand decreases, prices come down.

You would not obviously know when there is more demand and when there is less. The first thing to do is to know when you will be vacationing. Will you be vacationing in the peak season? Or in other words the season when people travel the most. Where will you be vacationing? Is it somewhere within the country or outside? How many people will you be taking along?

Once you get this information, start the booking process. Don’t book one or two weeks prior to your vacation. The best thing to do would be to book your tickets at least two to three months in advance. In this way you will get better rates. If you book one or two weeks in advance, you might end up paying more. This is because, like you a lot of other people will be booking flights as we. Remember that not everyone plans their vacations, or even a journey two to three months in advance. That’s human nature.

If you like looking at travel sites, don’t miss the airfare section. Monitor airline fares everyday. Whenever you see a dip in airline fares, go and book your tickets. Don’t worry if you feel like a stock-watcher. It’s better to be watching than getting up one day and paying pay-if-you-like-or-leave rates of airlines.

So these are some simple tips to follow. It is very easy, and will help you immensely.

Filed under Spending | Tags: Air, Airline, Airline ticket, Fare, Recreation, Tickets, Transportation, Travel

Great Announcements at Great Prices

From one busy mom to another, we know that anything that can save time and money is worth a try, at least once. And, we also know that many moms like to let the world know of their kid’s achievements and milestones. A clever way for mom to save time and money is to use flyers from an online print shop instead of traditional announcements.

When searching for online printers, customers may not notice the price difference between a birth announcement and a flyer, a price that is typically significant. Flyers are also typically cheaper than a basic postcard! This could be a savings of tens to hundreds of dollars, depending on the project, which is a significant savings for a mom with a budget.

When choosing to use a flyer from an online print company instead of another more traditional announcement, like a birth announcement or a wedding shower invitation, there is no need to sacrifice style. When purchasing flyers from an online print shop, customers will have a full range of customization abilities, from colors, letter fonts, and images. Some companies will provide full customization while others will offer templates to help those create the designs they desire. The final product can be viewed prior to committing to the purchase of the flyers. Once the customer is satisfied, simply finish the order and wait for the flyers to arrive in the mail.

Just because flyers can be cheaper than using traditional announcements, doesn’t mean there will be any less fun in creating them. Many people find creating flyers is a lot more fun than what they thought and may even decide to start digital scrapbooking. Creating flyers and digital scrapbooking is very similar. In both mediums, graphics and fonts are used to capture memories, create an impression on readers, and is a wonderful way for a mom to wind down and get creative.

Filed under Budgeting, Spending | Tags: Customer, Philadelphia Flyers, Printing, ScrapBook

Tips For Detecting Counterfeit Watches

A friend of mine recently bought his girlfriend a nice watch for her birthday. Well, my friend thought he bought his girlfriend a nice watch. In reality, that luxury timepiece turned out to be a piece of counterfeit junk. After going through this experience, he did some research and discovered that there are ways to determine is a watch is fake or not. I will pass on what he told me because it is not an experience that anyone would want to go through after spending so much hard earned money. One of the first tips I will give you is to make sure to buy your watch from a trustworthy business. Look for a company that has been in business for a long time. Read what kind of testimonials they have from customers. You should also do a search for their company in the local better business bureau’s website to read if they have any unanswered complaint especially relating to the products they sell.

When you think you have found a reputable dealer, next give the watch a good review. Check the engravings on it and make sure the brand name is not misspelled. Next, know the brand and how it functions. If it has a second hand that sweeps instead of ticks then make sure that second hand is not ticking. Look for any kind of flaw on the watch. If it is a new luxury timepiece, it will not be put on the market to sell with flaws. When my friend retired his counterfeit gift, he went back out and looked at Michelle watches for his girlfriend. This time he did his homework, found a reputable watch dealer and inspected the timepieces before making a purchase. All of this extra work paid off as the gift he bought this time was real and it passed the girlfriend test with flying colors.

Filed under Family, Spending

Shopping At Thrift Stores Makes Sense

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Do you turn up your nose at the thought of purchase clothing at thrift or consignment shops? You might be pleasantly surprised at what you can find. These types of shops can be helpful for those on a tight budget, as well as others. Clothing that can be found at these stores are available at the fraction of the cost of purchasing new items. Consignments stores are generally full of designer and high-end clothing and can be a great source of wonderful wardrobe options. There are many great reasons to shop at thrift stores, and here are a few:

• It’s good for the environment. How so, you ask? Well logically, instead of heading for the landfill these clothes are now available to a second set of consumers. This reduces landfill mass and of course, we all know that always helps the environment.

• These stores may actually have more variety than department stores. Because the clothing in thrift or consignment shops comes from many different sources and seasons, you will have hundreds of different styles from which to choose. You may also find a wider variety of sizes as well.

• You could be contributing to a charitable cause. Many thrift and second-hand shops are run by charities. This means that when you make a purchase at one of these stores, your money will be going to that cause. One example of this is Goodwill.

• And yes, you will be saving money — perhaps lots of money. You might need some extra when taxes come due! Some consumers continue to purchase cheap clothing thinking they are saving money. However, these thrift shops, which are selling deeply discounted clothing daily, will often have sales that will provide even bigger savings. Just keep watching and you’ll be styling for pennies in no time!

Filed under Family, Spending | Tags: Charity shop, Christmas, Clothing, Consignment, Goodwill Industries, Great Recession, New York metropolitan area, Salvation Army

Budgeting for College Necessities

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College means a new city, friends, and adventures. Who knows what crazy stories you will have about getting lost in an unknown part of town or about barely making the deadline for a term paper because your roommate locked you out of your room? Adventure is what it is all about. But what about spending? Do you have a plan for keeping within your income, or for when your bank account is overdrawn? When it comes to college spending, you have to be prepared. By creating a budget before you go to college, and by keeping it current, you can avoid the trouble many students find themselves in. See some quick tips below on how to structure your spending and curb your expenses.

Know Where Your Money is Coming From

One of the first things you need to do when figuring out a budget for college is assess how much money you have to work with. Do have a stipend from a scholarship or from your parents? Are you working only with Work-Study money, or from summer earnings? You need to know that the money you have coming in is enough to sustain you while you are focused on your studies. If you find that you do not have enough, or barely have enough, you should consider other options such as emergency credit.

Know Where Your Money is Going

Once you have figured out how much money you have coming in, you need to create a realistic budget that will account for how much money you will spend. This should include books, school and office supplies, grocery or snack money, car expenses or repairs, and travel. By comparing your available income to your likely spending, you can know before you are ever on campus if you will have enough to get by.

Adjust Your Budget Throughout the Year

By watching your budget, you can know if you are overspending. If you are, there are two things you can do. The first is to increase your income. One of the easiest ways you can do this is by getting emergency credit, which will give you access to funds in case you overdraw your account or have an unexpected expense such as a doctor’s visit or a car repair.

If you already have an emergency credit line, your other option is to limit spending. You can do this by shopping around for textbooks, eating out less, walking to class, or buying off-brand snacks and supplies. Your college store may have used textbooks, which will be a fraction of the cost of new books. You may be able to get an even better deal by ordering your books online before you arrive on campus.

College is a great time for adventures and new experiences, but one experience you don’t want to have is panicking over lack of funds. Budgeting and creating a back-up plan can help you enjoy most of the good adventures and less of the bad ones. Nobody wants to remember their freshman year as “the time I had to beg my roommates for money.”

Filed under Budgeting, Spending | Tags: Bank account, Budget, Expense, Money

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