Pros and Cons of Reverse Mortgages
Interest Rates on Reverse Mortgages
Here is some advice on what to consider before taking a reverse mortgage from the AARP
Do you really need a reverse mortgage?
Financially these are expensive so you must be very careful when you consider this option.
Can you afford a reverse mortgage?
These loans are expensive and the amount you owe grows larger every month. Also, due to high up-front costs, these loans can be especially costly if you sell and move just a few years after taking one out.
Can you afford to start using up your home equity now?
EZ Tax Return – Should You Pay a Tax Preparation Service?
Prepare Tax Return for Free
If you are considering paying one of those tax preparation agency to help you prepare the EZ tax return think again. The typical cost for preparing your EZ tax return is $39.00. There is also an additional fee applied with the earned income tax credit. That cost is usually $35.00.
The tax preparation companies say that for your money you are getting the expertise of the company. If they make a mistake they would pay any additional interest or penalties. If you were to be audited they explain the notice and tell you what you need to do to comply with IRS audit process.
Categories: Income Tax, Money & Finance Tags: earned income credit tax, earned income credit tax chart, earned income tax credit, earned income tax credit calculator, earned income tax credit qualifications, earned income tax credit table, ez tax return, online income tax filing, short form federal income tax return filing, what is earned income tax credit
Do Bad Credit Reports Affect Your Job Prospects?
Credit Rating Scores
Did you know that employers may consider your credit rating and history when they are deciding whether or not to hire you. A bad credit report could keep you from getting a job. Currently, Congress is considering blocking employer access to most credit-report data, but for now it is still legal for companies to consider it. Jason Morris, president of a company that runs background checks for businesses, says employers should have access to the data. “If an employer is on the fence about an applicant, credit reports can be valuable—particularly if the job includes fiduciary responsibilities,†he says.
What to bring if you need help with your Income Tax Return
Income Tax Questions
Here are some suggestions from AARP of what you need to provide, if you are going to get help with your taxes. I’m sure the list is applicable to those besides seniors. Here is what you should bring:
Valid picture ID
Copy of last year’s tax return – if available
Your spouse, if you plan to file a joint return
Social security card for you and anyone else named on the return
Birth dates for you, your spouse and dependents named on the return
Categories: Income Tax, Money & Finance Tags: income tax filing, income tax questions, income tax return, income tax tips, irs income tax
Keep Your Savings Safe
Money Saving Secrets
Keep emergency cash in the right place - Basically you want something that pays some decent interest but you can access fairly quickly. Parade magazine reports that for the next year the federal government will most likely offer guarantees on many money market funds – investments provided by large mutual-fund companies that offer a return typically higher than passbook savings. Investors usually receive a checkbook so they can begin withdrawing funds immediately. Bank certificates of deposit are another options. These are insured by the government as long as they don’t exceed $250,000 per depositor. You can’t access you money right away without paying a penalty, but CDs generally earn more than a passbook savings or checking account.
Categories: Debt Management, Money & Finance Tags: debt reduction, get out of debt, job loss, layoff, money saving secrets, savings, savings account, unemployment
