There’s an inspiring quote by Isaac Newton that we can all learn from. “If I can see further than anyone else, it is only because I am standing on the shoulders of giants.” Those giants for Isaac Newton were men like Copernicus, Galileo, and Kepler. Without the findings and research of these mathematical geniuses to follow, Newton may not have ever stated the famous three laws of motion. You’ve probably heard of them before: Newton’s 3 Laws of Motion I.... Read more
Filing a tax extension is simple. If you need extra time to work through your tax documents and just don’t think you’ll be able to finish your taxes by the April 18th tax deadline, you can file for an extension. Once you file the tax extension form, you’ll have until October 17th 2012 to file your taxes (an extra 6 months). This doesn’t mean that you get an extra 6 months to pay your taxes. That’s why it’s so important... Read more
While Occupy Wall Street is slowly working its way out of the news, the ideas behind it are holding strong: being rich is evil. If you’re well above the average (the saying goes) you should have your riches taken away from you. It doesn’t matter how you collected the money. If you have it, you must be evil and greedy The problem with this logic is: America’s homeless are some of the richest people in the world. Before you hate... Read more
You might not realize it, but the Government has a program that provides free cellphones and service to low-income and elderly consumers who don’t have the means to pay for telephone service. Before you form an opinion or run out to look into the main program providers (Safelink and Assurance Wireless), here’s some background on the Lifeline program. Originally started in 1984, the Lifeline program expanded to provide telephone service to low-income consumers. As stated by several members of congress,... Read more
I love the feeling of landing on ‘Free Parking’ in Monopoly, especially when it’s loaded up with $500 bills. Or how about when you own all four Railroads and someone takes a ride on the Reading – cha-ching! I’ll easily spend three hours with friends trying to build my initial $1,500 of Monopoly money into a sizeable fortune with the hopes of owning it all. But after the game is over, the thrill of someone landing on your hotel doesn’t... Read more
Every time we needed to go to the store, I cringed. Our budget was already tight and the grocery and toiletries budget seemed to be bursting at the seams. Unless something changed, we were on track to increase our budget for everyday food items and things like toothpaste and deodorant. It doesn’t seem like much, but those everyday items add up fast. Spending $4 on a toothbrush or $3.50 on a tube of toothpaste was just the normal thing to... Read more
Roth IRAs are excellent retirement vehicles, especially for younger investors. But what happens if you need to withdraw money from your Roth IRA early? Is it still subject to a penalty and taxes? Roth IRA Distribution: Tax Free and Penalty Free First things first – You can always withdraw your Roth IRA contributions early without penalty or taxes. The earnings are usually in question for early distribution. Simply put, if you meet both of these qualifications, all distributions (including earnings)... Read more
If you’ve filed your taxes already and you’re expecting a tax return this year, you’re probably asking, “where is my refund?” Unfortunately, the IRS doesn’t instantaneously wire your tax refund to you, even if you e-filed using the free 2012 Turbo Tax option. The good news is that if you e-file, you can get your return in as little as 8 days – more on that in a second. For those of you who e-filed this year, you can check... Read more
Every taxpayer is affected by Social Security in one way or another. If you’re working, you’re paying into it – if you’re retired, you’re receiving payments as a benefit. There’s no escaping the reach of Social Security! These 2012 Social Security tax changes will affect everyone, so it’s important to know what it means for your paychecks. Social Security Tax Rate Payroll Tax Temporarily Extended In 2010, taxpayers felt a 2% decrease of Social Security (or Payroll Taxes) they paid... Read more
What are Food Stamps? As of October 2011, over 46 million Americans receive food stamps on a monthly basis. The average monthly benefit per person in households receiving food stamps is $134 per month according to the U.S. Food and Nutrition Service. . This benefit is commonly known as Food Stamps, though the official program name is Supplemental Nutrition Assistance Program (SNAP). It’s designed to help people with low (or no) income in purchasing food. If you or your family... Read more
Faith and Finance
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