Tag Archives: cable

Tax Deductions When You Work from Home

When my husband prepared to do our taxes this year we were in for a surprise. It wasn’t going to be like previous years where we could expect a nice return and put that aside for a family vacation. No, it was honestly poor planning and somewhat ignorance that has led us to owe the IRS. This is because when I first began working from home, I started off making little money. I didn’t think much about putting money aside because I honestly didn’t anticipate my writing career to really take off. But it did and we failed to plan … Continue reading →

Debt Settlement

This morning I saw a commercial for a debt forgiveness program. It’s not the first time I’ve seen the commercial and other ones like it. It sounds really great. Just wipe away your credit card debt without declaring bankruptcy. I’ve known for years that you can call your creditors and negotiate a repayment of a fraction of what you owe. The theory is that the creditor will be grateful for any payment and a settled account is better than one that ends in default. What you’ll find, though, is that creditors don’t want to settle the debt. Why should they? … Continue reading →

HAPPY: Pet Exemption Bill Introduced in Congress

There was a flyer on the bulletin board at work this morning about the HAPPY Act: Humanity and Pets Partnered Through the Years. This is a bill that seeks to allow pet owners a tax exemption for pet care expenses. H.R. 3501 seeks to amend Internal Revenue Service codes to allow a deduction of up to $3500 per year for qualified pet care expenses. This doesn’t include livestock — the bill only covers domesticated household pets and does not include animals used for business or research purposes. What inspired this? The bill mentions two key facts: A 2007-2008 survey of … Continue reading →

The Legal Woes of Courtney Love and Maradona

I was reading today about how Courtney Love has been sued because of her online rants. Oh no, I thought to myself! Maybe I should be more careful when blogging because I know at times I can be harsh. But, then I read exactly what Courtney had been saying and I think I am doing okay. Love is being sued by fashion designer Dawn Simorangkir, aka the Boudoir Queen. Simorangkir is seeking damages for libel, invasion of privacy, intentional interference with her business, infliction of emotional distress and breach of contract. Simorangkir also says that Love has never paid her … Continue reading →

It’s Tax Time 2009!

Are you all set with your taxes? If you live in the United States, you know what I mean. Tax paperwork is due next month, and many of us still have it hanging over our heads. This weekend, my husband and I are determined to get the monkey off of our back, so to speak, and get all of our paperwork organized. We divide and conquer. My little portion is to add up the deductible household donations that we have made during the year and take care of any business-related expenses. With tax time in mind, I thought we might … Continue reading →

2009 Tax Credits for Home Improvement

Tax credits for energy efficient home improvement projects are back again. This is good news for many of us who have older homes that need some improvement. Of course, there are no tax credits for last year (2008), which means that the insulation we put in over the family room attic will not qualify. However, since we aren’t done yet with our energy efficient improvements, I am sure that we will be able to take advantage of this credit. The bill was signed into law on October 3, 2008 by President Bush. It provides for tax credits for energy efficient … Continue reading →

Obama and McCain on the Economy

Polls show that the number one factor on Americans minds right now is the economy. Inflation is outpacing the national average for our pay raises. Unemployment is up, families are losing their homes, and more importantly, consumer confidence is down. The number one question we’re asking right now according to many polls, is what will the new president do to fix the economy. Yes, the economy is on our minds ever more so than bringing our troops home. Given that, I thought it appropriate to look at both McCain’s and Obama’s discussion of economics and how we’re going to ameliorate … Continue reading →

Wesley Snipes Gets 3 Years for Tax Evasion

Here is word of warning – just don’t mess with the Internal Revenue Service! They got Al Capone when no one else could and now, they got Wesley Snipes. That is right – it looks as if actor Wesley Snipes is headed to jail for three years for failing to file federal tax returns. He received his sentencing today. In addition to the three years (which was the maximum sentence possible under federal guidelines), he will be fined up to $5 million. Ouch. Snipes had been charged with felony conspiracy counts, saying he participated in a scheme that rejects the … Continue reading →

Can You Live on One Income? Taxes Explained

The decision to live on one income is a big one. You may have to cut back drastically on your expenses, such as giving up a cell phone or a car. But for those who dream of having one person stay home, the sacrifices can be worth it. In fact, living on one income may actually make you healthier, despite the reduction in income. How do you know if you are in a position to live on one income? Let’s take a look. The way to approach the question of being able to live on one income is to calculate … Continue reading →

Monetary Gifts

More and more these days I am hearing stories of the eldest generation deciding to give monetary gifts to younger generations. People are living longer and generating more wealth into their later years. If you combine this with the fact that getting ahead when you are younger is getting harder, more parents, aunts and uncles, even grandparents are giving a large cash gift to help. Emotionally this can also be helpful for the older generation. Too often, their money and assets are not passed down until their death. Then, they do not even get to see the positive impact this … Continue reading →