Personal Finance Blog - Spreading Financial Independence. Guest Bloggers Are Welcome

Guest Bloggers Are Welcome

Dealing With Stock Market Corrections: Ten Do's and Don'ts

By: Steve Selengut Investments Views: 5885 | Comments: 0 | Votes: 0

A correction is a beautiful thing, simply the flip side of a rally, big or small. Theoretically, even technically I'm told, corrections adjust equity prices to their actual value or "support levels". In reality, it's much easier than that. Prices go down because of speculator reactions to expectations of news, speculator reactions to actual news, and investor profit taking. 8. More

Imporant IRA Changes For 2006

By: Tuttle Wealth Management Investments Views: 2072 | Comments: 0 | Votes: 0

2006 is a little more than half way over but we have already seen some major changes in the IRA rules. This article will summarize two of these changes and what they mean to you.Income Limit for Roth IRA Conversion RepealedClients often ask me whether they should do a traditional IRA or a Roth IRA. Roth IRAs grow tax free and money doesn’t have to be taken out during your lifetime. More

Year End Tax Strategies and Other Bad Investment Ideas

By: Steve Selengut Investments Views: 3156 | Comments: 0 | Votes: 0

First thing Monday morning I'm going to march into my boss's office and demand a pay cut so that I'll be in a lower tax bracket next year. Of course that's ridiculous, but isn't it about the same as the financial community's "Conventional Wisdom" (CW) for year-end tax planning? What are their motivations, and what discipline thought up these strategies in the first place? More

Investment Scandals & Scams: What's Next!, Wrap Fee Investment Accounts

By: Steve Selengut Investments Views: 5498 | Comments: 0 | Votes: 0

We humans are as creative on the "Dark Side" of commercial activity as we are in developing beneficial new products and services. In the face of huge financial benefits, however, some corporate executives can't resist taking an extra dessert even before their shareholders have finished dinner. So why did the State Insurance departments cave in to the Variable Product lobby? More

Investment Management Strategy: Seven Principles for Success

By: Steve Selengut Investments Views: 3539 | Comments: 0 | Votes: 0

Many Investment Gurus, with a straight face and a gleam in their eye, will insist that successful investing is a function of expansive research, skillful market timing, and detailed technical analysis. Others emphasize fundamental information about companies, industries, and markets. The end result should be a near autopilot, long-term and increasing, retirement income. More

Qualified moving expenses

By: Robert W. Ditmer Tax Planning Views: 3322 | Comments: 0 | Votes: 0

In the case of some fringe benefits that are offered to or given to employees, certain benefits can be excluded from an employee’s income because the expenses would normally be deductible on an individual’s personal income tax return. A moving or relocation expense is one such benefit. What moving expenses are deductible? How should moving expenses be reported? More

IRS Kicks Homeowners While They Are Down

By: Kenneth R. Harney Tax Planning Views: 4563 | Comments: 0 | Votes: 0

For homeowners who are seriously delinquent on their mortgages and hoping for relief, the Internal Revenue Service has bad news: If your lender agrees to modify your loan and forgive any of your debt, you could owe federal income tax on the amount forgiven.Think of it as the tax code's "kick 'em while they're down" rule. The Mortgage Cancellation Tax Relief Act of 2007 (H.R. Robert E. More

More Time To File

By: Julian Block Tax Planning Views: 1968 | Comments: 0 | Votes: 0

This year, the deadline for filing Form 1040 is Tuesday, April 17. The additional time is because the 15th falls on a Sunday and the 16th is a legal holiday in the District of Columbia. Miss the deadline and you could get nicked for a sizable, nondeductible penalty. The maximum penalty is 25 percent of the balance due. More

GETTING ORGANIZED FOR TAX TIME

By: Julian Block Tax Planning Views: 2204 | Comments: 0 | Votes: 0

Many refund delays, time-consuming correspondence and audits are triggered by taxpayer carelessness. Here are some IRS reminders about items to check in advance of filing your return, along with some steps to take afterward. START WITH THE BASICSCheck the package of forms and schedules that came from the IRS. First read the instructions to make sure you have all the ones you need. More

What Taxes You are Responsible for as an eBay Seller?

By: Kristine A. McKinley, CFP, CPA Tax Planning Views: 1932 | Comments: 0 | Votes: 0

There are three types of tax that you will be responsible for when you start your eBay business. They are 1) sales and use tax, 2) payroll tax and 3) income tax.Sales and use tax - Just about every state, and many cities and other local authorities, imposes a sales tax on items sold. Each state has different rules, so it's important to find out the rules in your state and city. More