Wednesday, June 23
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Tag: tax

Financial Advice Keeping You Broke & In Debt

Arlington
The post Financial Advice Keeping You Broke & In Debt appeared first on Penny Pinchin' Mom. Financial advice is great – when it is the right type of advice.  There are tips and strategies that can make you money.  However, there is also a lot of advice that will do nothing but keep you broke and in debt.  These are things you don’t want to listen to. I remember when I was younger, my mom told me that I had to get a credit card because it would be important for any emergencies which came my way.  I followed her advice and got a credit card. And, wouldn’t you know it, the first time I used it was for an emergency. Or, what I thought was an emergency. I woke one snowy morning and someone had hit my car — and fled. No note on my windshield.  Just a dented...

We Want a Diverse Area With Moderate Population, Warm, Beach and Culture—So Where Should We Retire?

Grand Prairie, Home Buying, Retirement
Courtesy Visit St. Pete/ClearwaterDear MarketWatch, We are African-Americans and want to retire to a diverse area with moderate population, warm, beach, culture. We can afford a better-than-average lifestyle and want to feel accepted in our new community — hopefully somewhere with high walkability and homes with character. And maybe near a major airport…. for lots of traveling. Let me know what you come up with. Thanks. — Jennifer Dear Jennifer, We all know there are plenty of beach towns in the U.S., but finding one with personality is a bigger challenge. I’m going to leave out some obvious places, like Miami Beach and, though less diverse, Hilton Head. On the West Coast, no Southern California. Too obvious. Plus, while you can afford a better-than average lifestyle, home pr...

Your Guide to Claiming a Legit Home Office Tax Deduction

Texas
I’d bet that on just about every city block or long country road, someone is operating a business from their residence. According to the U.S. Small Business Administration, about 50 percent of businesses are home-based, with a larger percentage (60 percent) working as solopreneurs with no employees. Having a home-based business is one of the easiest and least risky ways to become an entrepreneur, test your business ideas, and increase your income. No matter if you run a business full-time or as a side gig, claiming the home office deduction can significantly reduce your taxes. No matter if you run a business full-time or as a side gig, claiming the home office deduction can significantly reduce your taxes. I received an email from John, who says, “My New Year's resolution ...

Secured vs. Unsecured Loans: Here’s the Difference

Financial Planning, Laredo
Whether you’re trying to buy a home or looking to get a college degree, you may need to take out a loan to finance your goals. If you’re seeking out your first loan, know that borrowing money is a common practice and you don’t need a degree in economics to understand it! Learning more about loans and the different types can help you make informed decisions and take control of your finances. Loans take many forms but they all fall within two common categories: secured vs. unsecured loans. Whether you’re approved for either type of loan depends on your creditworthiness. Creditworthiness refers to how responsible you are at repaying debt and if it’s worthwhile or risky to grant you new credit. It’s helpful to be aware of your credit prior to seeking out a loan so you know wher...

5 Reasons to Buy an Electric Car

Adjustable Rate Mortgages, Auto
We’ve been hearing about electric cars for a while, but it sometimes seems that the only people who buy them are either very into being energy efficient or very wealthy. But there are a lot of good reasons for you to consider buying an electric car. They are good for the environment, but they can also be good for your pocketbook. And who doesn’t want to satisfy the demands of their conscience and their bank account at the same time? Check out our cost of living calculator. 1. Electric cars help the U.S. with energy independence. The United States spends about $300 billion importing oil into the country. That’s two-thirds of the U.S. trade deficit. Being dependent upon foreign oil leaves the United States more vulnerable to international problems&nb...