Tax credits for education expenses claimed in February
Tax returns claiming education credits cannot be filed until the middle of February.
Taxpayers using Form 8863, Education Credits, can begin filing their tax returns after the IRS updates its processing systems. Form 8863 is used to claim two higher education credits -- the American Opportunity Tax Credit ($2,500) and the Lifetime Learning Credit ($2,000 to $4,000). The IRS emphasized that the delayed start will have no impact on taxpayers claiming other education-related tax benefits, such as the tuition and fees deduction and the student loan interest deduction. People otherwise able to file and claiming these benefits can start filing Jan. 30.
What do the new health care insurance overhaul terms mean?
In case you need health insurance, this is the new language:
Did you claim your tax credit for working? Watch: http://www.youtube.com/watch?v=CpILuZTheS0&feature=youtu.be
EITC can be a boost for workers who earned $50,270 or less in 2012. Yet the IRS estimates that one out of five eligible taxpayers fails to claim their EITC each year. See if you qualify:http://apps.irs.gov/app/eitc2012/SetLanguage.do?lang=en
Free tax preparation by IRS trained volunteers
AARP Foundation Tax-Aide offers free, individualized tax preparation for low-to moderate-income taxpayers - especially those 60 and older - at nearly 6,000 locations nationwide. Many volunteers are retired accountants and know more than paid preparers. Find a location near you by searching below.
or
do it yourself, FREE, using the IRS authorized online preparers: http://apps.irs.gov/app/freeFile/jsp/index.jsp?ck Some of these preparers efile your state return for just $10. Can’t beat the price and our members can vouch for their security.
Are you paying more for car insurance because you aren’t rich?
Auto insurers frequently charge higher premiums to safe -- though low- or moderate-income -- drivers than they do higher-income drivers who recently caused an accident, according to a new study. In two-thirds of 60 cases studied, the good drivers were charged higher prices based mainly on such factors as education and occupation, said the nonprofit, Consumer Federation of America. It compared premiums quoted to two hypothetical 30-year old women who each had driven for 10 years, lived on the same street in the same middle-income Zip code and sought minimum liability coverage required by that state.
One was a single receptionist with a high school education who rents, has been without insurance coverage 45 days and has never had an accident or moving violation. The other was a married executive with a master's degree who owns a home, has had continuous insurance coverage and has had an at-fault accident with $800 of damage within the past three years. Prices ranged from $310 to $1,454 for the same coverage. You must shop around using our “tricks of the trade:” http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634
Are hedge funds right for you? Top investor Buffett says NO
Remember Warren Buffett’s bet back in 2008 that an index fund will beat a set of hedge funds if you give it a decade? Buffett is winning. Fortune’s Carol Loomis notes this week that Buffett is ahead by 8.69% after five years, while Protege Partners’ hedge funds are ahead by 0.13%.
Some of our clients use 10 Vanguard funds to earn over 10% since the 70s: http://www.amazon.com/Your-Retirement-Mutual-Funds-retirement/dp/1481114026/
Do you use diverse mutual funds like the huge pension funds?
Some public pensions have regained their losses from 2007-8. They did it by using the strategy that brokers hate—buy and hold. In addition to 50% stocks, CalPERS invests about 17 percent of its money in bonds, 14 percent in private equity, 9 percent in real estate, 4 percent in cash equivalents, 4 percent in inflation-linked holdings such as commodities, and 2 percent in forests and infrastructure such as airports and power plants. Our members buy and hold 10 low-cost funds and earn 10-12%: http://www.amazon.com/Snoring-Best-Way-Create-Wealth/dp/1466408928/
Some public pensions have regained their losses from 2007-8. They did it by using the strategy that brokers hate—buy and hold. In addition to 50% stocks, CalPERS invests about 17 percent of its money in bonds, 14 percent in private equity, 9 percent in real estate, 4 percent in cash equivalents, 4 percent in inflation-linked holdings such as commodities, and 2 percent in forests and infrastructure such as airports and power plants. Our members buy and hold 10 low-cost funds and earn 10-12%: http://www.amazon.com/Snoring-Best-Way-Create-Wealth/dp/1466408928/
Are ETFs right for you?
Wall Street has been head over heels for this new mutual fund for the last 2 years. They are index funds that can be traded every day through your broker on the exchanges. But why would you do that? The purpose of investing is gaining value over the long term. Plus brokers charge commission, even when you do it yourself online. Plus most mutual funds are less expensive to run than the equivalent ETF. Thus, most ETFs seriously lag the returns of the mutual fund it mimics, according to John Bogle in his book, Clash of Cultures, p. 206.http://www.amazon.com/dp/1118122771 Trading usually earns you less than the low-cost mutual funds over the long term. That is why they call it investing. Members earn 10-12% using The Lazy Person’s Way to Wealth http://www.amazon.com/Lazy-Persons-Way-Wealth-NOTHING/dp/1482307138/
Wall Street has been head over heels for this new mutual fund for the last 2 years. They are index funds that can be traded every day through your broker on the exchanges. But why would you do that? The purpose of investing is gaining value over the long term. Plus brokers charge commission, even when you do it yourself online. Plus most mutual funds are less expensive to run than the equivalent ETF. Thus, most ETFs seriously lag the returns of the mutual fund it mimics, according to John Bogle in his book, Clash of Cultures, p. 206.http://www.amazon.com/dp/1118122771 Trading usually earns you less than the low-cost mutual funds over the long term. That is why they call it investing. Members earn 10-12% using The Lazy Person’s Way to Wealth http://www.amazon.com/Lazy-Persons-Way-Wealth-NOTHING/dp/1482307138/
How much of a tax break do businesses receive for ObamaCare?
Businesses that want to know how the federal Affordable Care Act will affect them and their employees now have a place to go to get answers to their questions. Small businesses can receive a credit up to 35% to help offset the costs of insurance. In 2014, this tax credit goes up to 50%. See more:http://www.sba.gov/healthcare
ME health rates lower due to reforms
Health insurance premiums for the fourth quarter of 2012 are out, and they bring good news for Mainers with private insurance policies. New data also show that policyholders in northern and eastern Maine are beginning to see decreases after lagging initially in the wake of the reform bill, and more consumers are moving toward individual policies, which are being offered at lower rates. http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083
How much does long-term care insurance cost?
A survey of 3 insurers still offering coverage finds that rates have increased. A 55-year old buying $200 a day after waiting 90 days for reimbursement would pay $3200 annually. The benefit of $200 is for 2 years of reimbursement. Healthier people pay less: $1900 a year. 3 and 5 years of reimbursement costs $3900 and $4900. Healthy rates are $2300 and $2900. Of course, the rates go up by age and periodic increases. There is no refund so you may be better off self-funding: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X/
LA homeowners, even GOP, thank God for regulators
Do insurers owe you benefits of an old life insurance policy?
More than 89,000 people nationwide are getting shares of over $665 million in life insurance benefits that insurers have been holding. NY state and insurance companies have developed a "lost policy finder" system on the state Financial Services Department website at http://www.dfs.ny.gov . We can apply for a search for lost or misplaced life insurance policies and annuity contracts on the deceased. Benefits are FREE of tax.
We are willing to pay more for Social Security?
Americans support Social Security and are willing to pay more to preserve and even improve benefits, according to a survey. Large majorities of Americans, both Republicans and Democrats, agree on ways to strengthen Social Security — without cutting benefits. Fully 74% of Republicans and 88% of Democrats agree that "it is critical to preserve Social Security even if it means increasing Social Security taxes paid by working Americans." Members are putting their money in one fund to pay for long-term care, health care increases, a legacy and more income if needed: http://www.amazon.com/Forget-Social-Security-Medicare-Lifestyle/dp/1466394285
SCAMS “Deficits don’t matter” GOP grandfather Dick Cheney 2002
Who owns your account now?
SBLI USA Mutual Life Insurance Company to Prosperity Life Insurance Group at demutualization. Prosperity is owned by Reservoir Capital Group and Black Diamond Capital Partners.
SBLI USA Mutual Life Insurance Company to Prosperity Life Insurance Group at demutualization. Prosperity is owned by Reservoir Capital Group and Black Diamond Capital Partners.
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