4 Ways to Save on Taxes with Mutual Funds

We normally think of mutual funds as investment vehicles—which they are—but they can also offer valuable ways to save money on income taxes this spring and beyond.

There are steps you can take with mutual funds right now that can lower your tax liability either for the 2011 tax year or, failing that, for 2012.  Yes, there are ways to save on taxes with mutual funds!

Some of these are time sensitive, so you’ll want to either make your moves now, or position yourself to be able to take advantage when tax time comes around next year.  The important thing is to move on this — the windows close quickly.

Municipal Bond Funds

Continue Reading

Are You Making These Mistakes With Your Side Business?

The beauty of the blogging community, the different inspiring individuals on Twitter, and the many forums out there is that you get to communicate with many like-minded folks.

I love chatting with other ambitious colleagues because we get to help each other, share feedback, and think of ideas that one person alone could never come up with alone.

Through my various chats over the years I’ve learned that I’ve done many things wrong.

Instead of getting upset with a criticism I usually do my best to apply it to my life.  This is why I’m comfortable with writing a piece on small business mistakes that we all make at the beginning.

We’re all guilty of making certain mistakes when first trying to launch a side business.

Are you making any of the following mistakes with your side business?

Continue Reading

Stay on Top of Credit Card Payments – How to Make Sure You Pay Your Credit Card on Time

If you’ve ever owned a credit card, and most people have at one point or another in their lives, they can be both a blessing and a curse.

If you are like me, you can probably recall that awful sinking feeling in the pit of your stomach when you receive your statement in the mail.  You frantically try to remember all of the purchases you made in the last month, and at the same time you scramble to remember if you made a payment and how much you put down towards the outstanding balance.

Oops, you didn’t.

Or how about that time you did some cleaning and found the credit card bill you swore you paid, but clearly you didn’t because, well, it’s sitting right there in you hand?

I’ve been there!

Missing payments on your credit card is a quick way to rack up late fee charges, hike up your interest rate, and possibly send your credit score into the dump.

I’m not even talking about whether you can afford what’s on your card or not.  That’s a whole other issue.  I’m talking about missing the due date on your credit card payments.
Continue Reading

The Art of Getting Rid of Unwanted Gifts

Unfortunately, it happens almost every year — well meaning friends and relatives give you Holiday gifts that you have no need or desire for

Of course, when you open the presents, you pretend to be delighted with the gift, but secretly you may be wondering what to do with the additional clutter.  Unless you have a very open relationship with the gift giver, asking for a receipt to return the item is very difficult to do and not recommended.

Enter the Art of Getting Rid of Unwanted Gifts:

Continue Reading

Investment Losses? Harvest them for a Tax Deduction


No one likes to lose money on their investments.

However, in some cases, it is unavoidable.  If you are looking at some investment losers, though, you might consider how you can use them to your advantage.

Tax harvesting your losses allows you to get a deduction when you sell for less than you bought for.  As you get close to the end of the year, and you begin planning to maximize your tax deductions, consider how your investments losses can reduce your tax liability:

Offset Capital Gains

Continue Reading

What Are the Best Ways to Invest in Mutual Funds?

Most of us have a pretty good idea what mutual funds are about, so maybe the more relevant question is, what are the best ways to invest in mutual funds?

There are different ways to own them, different times and methods to invest, and even other assets we might like to hold in addition to mutual funds.

Properly used, mutual funds can increase investment returns substantially.

But view them as passive, invest-and-forget vehicles, and they may be no better than owning individual stocks.

Mutual fund family vs. brokerage accounts

Continue Reading

How to Find the Best Financial Planner – 10 Qualities to Look For

We all know how important planning our finances is.

It’s just not enough to obtain money and put it away in the bank while it earns minimal interest.

Investing is the smart way of making your money earn more money for you, but most people just don’t have the time to learn about all the investment vehicles that are available.

To solve this problem, this is where financial planners come into play.  Planners analyze your financial situation and, if you can find a good one, they can help you achieve your financial goals through the proper usage and management of your money.

The challenge now is, how can you find a reliable financial planner that will truly grow your money?

Below are 10 characteristic traits that you should look for in a financial planner during the hiring process:

Continue Reading

Free Newsletter to Keep you Free From Broke!Name: Email: We respect your email privacyPowered by AWeber email marketing