How to Deduct Your Moving Expenses

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According to the U.S. Census bureau, up to 40 million people move from their current residence each year.

That represents just over 14% of the population and as everybody knows, moving is expensive, stressful, and back breaking.

For those who are moving because of a new job, the IRS softens the blow by allowing a portion of those moving expenses to be deducted on your tax filing– but be careful.

In order to deduct your moving expenses, you have to pass two important IRS tests.
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Is a Used Car Really a Better Value?

We’ve heard it so many times.

As soon as you drive the car off the lot, it loses 25% of its value and why do you want to pay the depreciation costs?

If you purchase a used car, somebody else already paid the costs and you can get a better deal.

On the surface, the logic behind that makes a lot of sense but is it actually true that purchasing a used car is a better value than a new car?

First, let’s remember that getting the most value doesn’t necessarily mean paying the least.  Sometimes it works out that way but as we’ve all found in our day-to-day lives, buying the cheapest items may not save us money in the long run. Continue Reading

Mortgage Plan to Help Homeowners – $26 Billion Settlement with Big Banks

If you’re wondering when help will arrive for your underwater home, on February 9th, 2012, a giant step forward was taken on your behalf.

The Obama Administration announced a settlement with five of the largest banks, Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial, and attorneys general in all states with the exception of Oklahoma.

The $26 billion foreclosure settlement brings to a close the litigation surrounding the use of robo-signing in the foreclosure process and may provide much needed relief for many of the nation’s underwater homeowners.

Background

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Groupon FTD.com National Deal – Double Your Value

Groupon is at it again! 

Groupon is offering up a deal to help all those shopping for Valentine’s Day.  (They ran this deal last year too around this time).

$20 for $40 worth of flowers, gifts, and more at FTD.com!

This deal is good for online orders.  The deal will run today, February 8th, through Saturday, February 11th at 11:59pm Central.
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Obama Mortgage Relief Refinancing Plan – A Tax on Big Banks and More

We Can’t Wait

That’s the new slogan that the Obama Administration is trying out, presumably thinking of the campaign as Obama approaches the full force of election season.

In Las Vegas, one of hardest hit housing markets in the United States, Obama said, “we can’t wait” for an increasingly dysfunctional Congress to do its job and provide relief for the millions of Americans underwater on their mortgages.

Obama went on to say that the housing bubble was the greatest cause of the current economy and that millions of Americans have continued to responsibly pay their mortgage even though their home is worth less than the value of the loan.  In his recent State of the Union address, Obama laid out a plan to help underwater homeowners.

Here’s how the mortgage relief plan would work. Continue Reading

What is a Refund Anticipation Loan (RAL) and is it Worth It?

It’s tax season again and if you’re expecting a tax refund you’ll probably want to get your hands on it as soon as possible.

In the past, taxpayers had to wait weeks upon weeks to receive a paper refund check from the IRS, but people sought a faster alternative.

The answer for millions has been the refund anticipation loan.

This option is offered by some tax preparation firms and is essentially a short-term loan taken out against your anticipated tax refund.

How a Refund Anticipation Loan Works

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H&R Block At Home™ Online Tax Software – Review

With more then 55 years in business, H&R Block is one of the most recognized tax preparation companies. Their do-it-yourself tax preparation with their online software, is one of the easiest ways to get your taxes done fast and accurately.

H&R Block online has a variety of support features and guarantees, making doing your taxes yourself worry free and simple.

Features of H&R Block Online Tax Prep Software:

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