Only You Can Prevent Money ProblemsWritten by Terry J. Rigg
People experience money problems for a variety of reasons. Maybe you lost your job, used your credit cards too much, have a bunch of medical bills, paid too much for your dream home or any number of other reasons.What ever reasons for your money problems, most of them could be prevented. I know for a lot of you, I am talking in past tense. The problems are already here so prevention is irrelevant. This is not case. Only when you understand how you could have prevented problem in first place will you be able to fix it. We don't need to look at symptoms here, we need to explore root causes. I have developed a theory. Some people aren't willing to sacrifice, no matter what rewards. Sacrifice and discipline go hand in hand. It seems that our parents and grandparents understood this better than we do. They had to sacrifice just to put food on table. They also understood that they had to forego what they wanted to have what they needed.
| | I Love That Big Tax RefundWritten by Terry J. Rigg
A Disclaimer of Sorts: No matter whether you file your own taxes or have a tax professional prepare and submit your taxes, You The Taxpayer are responsible for completeness and accuracy of return. Any questions, comments, extra taxes or penalities will be directed to you. Please consider any and all tax advice with this in mind, including this article. I will give you all of resources you need to check this out for yourself at end of article.No, this is not another article with a little know tax break IRS is trying to hide. This is a very legitimate way to put extra income in your paycheck. Many people can't wait to file their tax return in anticipation of having all that money to spend at one time. Where else can average person be forced to save. In most cases this is only way they can save. If federal government were in banking they would probably be in violation of law. They receive funds from citizens and are not required to pay any interest on that money. This may sound like I'm down on government, but I am not, not for that anyway. This is because IRS has a way for you to get that money in your paycheck throughout year. Starting with 1998 tax year , anyone that owes taxes and has children is eligible to deduct up to$400 for 1998 and $500 after 1998 tax year, for each child. Folks this comes right off of any taxes you owe. This is known as The Child Tax Credit. It is probably biggest cut in taxes average citizen has had in years. Just a note: You can only deduct this if you owe taxes and you can only deduct up to amount of taxes you owe. Example: If you owe $200 then you can only claim $200. Also, this does not apply to self-employment and certain other taxes. Since The Child Tax Credit became law, tax refunds have skyrocketed. The reason for this is that most people that have federal income tax withheld from their paychecks have not changed their W4 form (Employee's Withholding Allowance Certificate) with their employer. Did you know that in certain instances you can claim 9 exemptions for a family of 5? Yes, this is legit. Here is how it breaks down directly from W4 personal allowance worksheet: A. Enter "1" for yourself if no one else can claim you as a dependent - 1 B. Enter "1" if you are married, have only one job, and your spouse does not work - 1 C. Enter "1" for your spouse - 1 D. Enter number of dependents (other than your spouse or yourself) - 3 E. (Does not apply to this example) - N/A F. (Does not apply to this example) - N/A G. Child Tax Credit: If your total income will be between $23,000 and $63,000 if married, enter "1" for each child - 3 H. Add lines A through G - 9
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