Jul
29
More Reasons to Pay Off Your Mortgage
July 29, 2008 | 4 Comments
… of the family. I'd really like to chance my mind on the mortgage just to be a contrarian. However there is just too much evidence that paying off your mortgage is the best move for most people.
In my last post about debunking the mortgage myth debunkers, I examined some arguments for keeping your mortgage. I received a few good comments.
AJC, whose article on why paying of your mortgage is dumb I
I always like the historical 3.8% argument for the growth of real-estate …
Comment by The Real Reason I Paid Off My Mortgage - Wealthy Reader: … What if My Spouse Owes Money?Angela on IRS Stimulus …
Jul
21
How Long Should I Keep Credit Card Statments?
July 21, 2008 | Leave a Comment
… to these questions, you'll need to hold onto your credit card statements for 7 to 10 years.
However, if you only use your credit for normal expenses than you'll only want to keep your paper statements for a year at the most. Most Americans can safely shred their credit card statements after a year.
Business Expenses
I suggest you use a separate credit card for business expenses. Then save all the statements from that account for at least 7 to 10 years.
Electronic Statements …
Jul
11
What Happens to My Stimulus Check If I Move?
July 11, 2008 | 8 Comments
Expecting your stimulus check but you've moved since you've filed your taxes ? There are a few things you need to do to make sure you get your stimulus payment.
According to rumors on the internet, the post office is not supposed to forward mail from the IRS. However I have yet to find an authoritative source that supports this.
If you've moved since filing your return, you should put in a change of address with the post office ? You can change your …
Comment by Chris: … get the money back. However, you can probably claim …
Jun
25
Should I Pay Off My Mortgage? The Easiest Test Ever
June 25, 2008 | 4 Comments
… mortgage early? It's a difficult question to answer. There are many factors to consider. However, there is one easy way to make the decision. I've created a simple test to answer the question " should I pay off my mortgage early ?".
Why Is It Such A Hard Question?
Vested Interest in the Mortgage Industry
In the old days, this was an easy question. Everyone tried to pay their mortgage early. However, the realty and mortgage industry has grown substantially over the years. …
Comment by Jeff: … is speculative. However, when you have a 30 year fixed …
Jun
20
Retired and Veterans Need To File For Stimulus
June 20, 2008 | 2 Comments
… people or know someone who is, here is what you need to do to get the stimulus check.
File Taxes
In most cases it's as easy as filing taxes. Many retired people and veterans don't file taxes because their benefits are not taxable. However, for the stimulus payment, the IRS uses your tax return to qualify you for the rebate.
You Can File for Free
If you are filing specifically to get the stimulus check, the IRS allows you to file for free. Please see this article …
Jun
16
IRS Withholds $842 Million in Stimulus Payments
June 16, 2008 | 15 Comments
… payments have been withheld from 1.5 million people. Over 50% of the money has gone for back child support .
About 54% of the cash intercepted will be funneled to states for child support, according to Dean Balamaci, a U.S. Treasury Department official. "We are really proud of that," he added.
Of the remaining money most will go to student loans and back taxes.
How Do You Know if Your Money is Withheld?
You should receive a notice (letter) from the IRS stating …
Comment by Chris: … end up owing taxes? I would talk to a tax pro about …
May
29
Where Is My Stimulus Payment?
May 29, 2008 | 107 Comments
… You may be confused by the stimulus payment schedule. Who can blame you, it is confusing. However, you need to make sure you have your facts straight before contacting the IRS.
I've made a list of the most common problems/issues with stimulus payments. Items are listed by popularity.
Did you check the payment schedule ?
Many people are mistakenly using the direct deposit schedule when they should be using the paper check schedule. How do you know if you're getting a …
Comment by Kelly: … 6th.. with all the back and forth with the IRS.. I finally …
May
27
… expecting a stimulus payment check from the IRS. You filed a joint tax return for 2007. However, you're now divorced and the check is in both of your names. What do you do?
Well, like most checks that are made out to two people, most places (banks, etc) will require both signatures to cash the check. The key here is to understand the difference between AND and OR. If the check is made out to John AND Jane Doe, then both must endorse (sign) it. If the check is made out to …
May
22
It's Not Too Late to Qualify for the Stimulus Payment
May 22, 2008 | 5 Comments
… is good news for those don't normally file a tax return or may have made a mistake on their taxes.
According to a press release from the IRS, IRS Commissioner Doug Shulman wants people to know they still have time to qualify for the stimulus payment. They just need to file a tax return.
Can I Still File After April 15th?
Yes. The IRS wants people to know that you can still qualify for the economic stimulus payment after April 15th. Your stimulus payment will take …
May
19
… in the US) of the Gas Price Series here .
We Got Ourselves Into This
Most articles on gas taxes follow a template. The template is to blame Americans for living in the suburbs and driving SUV's. According to the experts and pundits we should all live in mud huts and not drive anywhere. I'm definitely not going to follow that template. The United States is, by most objective measurements, is the economic engine of the world. We didn't get that way but living in straw huts and …