financial education
Dave Camp

IRS over-taxed to juggle healthcare, GOP says

The Supreme Court’s decision last month to uphold nearly all of the Obama Administration’s Affordable Health Care Act will task the Internal Revenue Service beyond its normal duties of tax collection. Starting in 2014, it will be responsible for collecting proofs of insurance, as well as penalizing those who choose not to acquire it. Largest
Robo-Flop

Mitt Romney flip-flops on health care penalty

It was probably no accident that Mitt Romney chose Independence day to announce his latest flip-flop. It seems that the penalty for not acquiring insurance under Obamacare’s individual mandate provision is now a tax, even though just two days earlier, it was a penalty. Never mind the fact that Romney is attacking a system that
Al Cardenas

Mandate not the largest tax increase by a mile

The conservative media has been in an absolute panic since Thursday’s Supreme Court decision to uphold the individual mandate of the Affordable Care Act. The immediate buzz word, or “buzz phrase,” if you will, that they all seemed to have glommed onto is that the individual mandate amounts to “the largest tax increase ever.” It
previously occupied home

May used home contracts match 2 year high

There seems little doubt that the housing market is gaining ground, even as the job market continues to stumble. The National Association of Realtors said Wednesday that the number of contracts signed to buy previously occupied homes in May matched the two-year high seen in March. Matches March 2-year high The NAR said its Pending
home prices

Home prices rise across the nation, says index

Nineteen of the 20 cities tracked by the monthly Standard & Poor’s/Case-Shiller home price index saw price increases from March to April, as the housing market continues its sluggish crawl to recovery. The poor job market, however, hinders further economic growth. Rising monthly index That largest home price increase was in and Phoenix, where homes
16th century painting Poborcy podatków by artist Marinus van Reymerswale.

How to figure out your tax bracket, taxable income and tax rate

Tax time has come and gone in 2012 for most of us, but it’s never a bad time to learn more. This is particularly true if you earn a raise at work during the year, as you may be in a new tax bracket. Here’s some background on the various tax brackets that the IRS
dinosaur shoe tax

Tariffs inflating the cost of shoes for kids

Shoes are a necessity, especially for working parents with children who seem to grow out of them on a weekly basis. Yet, import tariffs are jacking up the prices of nearly all U.S.-sold shoes, cutting into the fixed budgets of people who can afford it the least. Cheaper materials taxed more The so-called “shoe tax”
Drowning

Stupid ways to pay off debts

Debt is how our nation got into its current economic predicament. Once upon a time, credit was readily available and easy to get. Many of us became over-extended, never dreaming that the gravy train would slow down and make it hard to catch up again. But catch up we must, or sink deeper. Here are
grave robbers

Trading on the dead: postmortem identity theft

Grave robbing has traditionally been the option of very desperate criminals with exceptionally low scruples. In the novel and movie “True Grit,” a frontier dentist tries to make a deal with passersby for the ownership of a dead body. The dead have always had some value for those willing to plumb low enough to get
kids n money

Financial literacy concerns us all – Part 2

Many children don’t receive a proper financial education at home. As we have seen, many parents are woefully uneducated themselves in basic money management skills. That leaves the schools to save us from becoming a nation of the financially illiterate. However, most schools are not making it a curriculum priority. Trend slowing down A 2011
Kids and money.

Financial literacy concerns us all – Part 1

Some parents teach personal finances to their children at home. However, most do not. Only a handful of states require personal finance education in high schools at this time. So where do most children learn about money? Usually, the evidence suggests, they learn about it on their own in real-life trials by fire. Those who
shred

What tax records to keep, which to shred

It has been nearly a week since 2011 income tax returns were due. Many tax payers may be wondering which records need to be saved and which ones can be shredded. Keep old returns According to Kiplinger magazine, keeping old returns is imperative. They contain information on your background that can be useful for mortgage
Warren Buffett

Most Americans say Buffett Rule is fair

The so-called “Buffett Rule,” which states that all millionaires and billionaires should be required to pay at least 30 percent income tax, is currently being debated by the Senate. But a new poll shows that most Americans agree with Warren Buffett. Nearly all groups favor rule The study, conducted by CNN, found that 72 percent
debt spiral

Why paying taxes with credit card is a bad idea

Chances are, anybody who hasn’t filed their taxes yet probably is not expecting a refund. Since the IRS has partnered with several credit card providers, paying by plastic seems the most convenient way to go. But is it? Most of the time, tax experts say no. Two reason it’s a bad idea The two main
Form 4868

File even if you are unable to afford tax bill

Tax day is only a few days off. So what happens if you find, in this time of financial hardship, that you can’t afford to pay your tax debt? Experts say don’t put off filing. Higher penalties for late filing The reason for this is that the Internal Revenue Service penalizes those who don’t file
A new house.

Factors that influence a refinanced mortgage rate

When considering mortgage refinancing, it is important to know what factors can affect the refinance rate. Each factor can have as much as a full percentage point’s difference in the new mortgage rate, according to various mortgage experts. Armed with knowledge, you can approach your own mortgage refinancing with greater confidence. Advertisements typically reflect points
Benjamin Franklin

Traffic deaths increase on Tax Day

Benjamin Franklin famously said, “The only things certain in life are death and taxes.” A study released this week combines the two in a far more tangible way than Franklin ever could have guessed. The study shows a spike in traffic deaths on each of the last 30 tax days. Spike in each of the