Archive for January, 2010

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New Year Savings Tips For Your Children.

The turn of a new year is often a time of reflection for many. This year, don’t make resolutions just for yourself, take the time to make resolutions with your children that can have a lifelong effect. Start by discussing and setting some financial goals for your kids. Whether it’s learning the tenants of savings, understanding the ins and outs of responsible credit card use or more, opening the dialogue can happen at any age, any time.

Here are a few tips to get the conversation started, no matter what age your children are:

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saving
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What To Do If You Cannot Pay Your Taxes In Full.

Every year thousands of working Americans pay numerous bills and then realize they have little left to pay what they owe in taxes. Owing the IRS can be scary because if taxes go unpaid and unresolved you can potentially face some of the harshest collection mechanisms. Many taxpayers avoid the IRS because they cannot pay and are scared of what may happen when the IRS finds out they can’t pay. Understand that the IRS allows individuals to resolve their taxes that they cannot pay in various ways, no matter how bad their financial situation is. Before considering a tax payment plan or some other form of tax settlement is a smart idea to double check and make sure you have taken all possible deductions that you could have taken. If you have not done so already, you should have a tax professional take a look at your return to see if there is anything you missed. Every year there are new tax credits that become available that the average taxpayer is not aware of. It is also a good idea to check past tax returns as well. You will still be able to claim a refund up to 3 years from your filing deadline or 2 years from your last tax payment. So if you have missed deductions in the past you can file an amended tax return to offset what you owe this year.

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taxes
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Start the New Year Off Right – How to Organize Your Finances.

With the arrival of 2010, I thought a quick post and link to some info about organizing your finances could be of some use. In the past, I used to have my paperwork everywhere, and I could never find anything without spending hours digging through file cabinets, paper boxes, the desk, the bookcase…everywhere. And come tax time, forget it. I was never the type to get my shoebox out in January and fill it all year long with tax documents like donations to charity or Goodwill. All that changed in the last year for me, and it has made quite a difference. So, from LifeOrganizers.com, I wanted to share with you these 5 ways to start organizing your finances so that 2010 will be a smoother year than 2009 was.

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Lifestyle
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