Archive - December 2012

1
A Friend At The IRS
2
When A Penny Makes A Difference
3
A Financial English Primer
4
A Financial Plan For More Travel
5
6 Questions About Umbrella Insurance

A Friend At The IRS

Did you know that there is someone working at the IRS that you can turn to when you have problems with your federal taxes?  There is.  It’s called the Taxpayer Advocate Service, an independent arm of the IRS whose job is specifically to help taxpayers with their problems.

The IRS published a tax tip (back a couple of months ago) which lists ten facts that the IRS wants you to know.  The actual text of Summertime Tax Tip 2012-12 is below.

Taxpayer Advocate Service: Helping You Resolve Tax Problems

The Taxpayer Advocate Service (TAS) is an independent organization within the …

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When A Penny Makes A Difference

Are you a business owner?  Are you an employee who drives a lot and is not reimbursed for mileage? Do you track your business mileage? If you don’t, you should!  Appropriately deducting mileage is a great way to save tax dollars and reduce the largest recurring expenses that we face: taxes.

The IRS recently announced the standard mileage rate that goes into effect January 2013. The new rate is 56.5 cents per mile, which is up a penny from 2012. While the penny increase will not make you rich, the habit of properly tracking business mileage could save you hundreds …

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A Financial English Primer

Call it “finglish,” or financial English. Financial and economic terms dominate the news nowadays, amid talk of fiscal cliffs and eurozone troubles. Plus, new financial terms crop up all the time for a new product or strategy, like quantitative easing.

Since the news is particularly ripe with financial terms right now, it is a great time for us to learn some common finance terms. Some finglish terms are often confused and used improperly in the media. Hopefully, this will increase your financial knowledge, help you to understand the key issues we’re facing and communicate better with your financial advisor.

Six

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A Financial Plan For More Travel

What would you do with more money? What do you most want to do when you retire? For a huge number of us, that answer would be, Travel! Even for those of us with a lot of mileage already on us, the lure of faraway places remains strong. So what’s stopping us? The usual suspects—time and money. Employees in the U.S. get the lowest amount of vacation days in the western world. Even if you run a small business and could theoretically set your own hours, well, we know how that goes. But I think that even that time issue …

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6 Questions About Umbrella Insurance

Have you ever heard of umbrella insurance? Maybe your agent tried to sell it to you when you bought your home and auto policies. Umbrella insurance, also called Personal Liability Insurance, provides protection in the event you are sued. We live in an incredibly litigious society, and it seems you can get sued for pretty much anything. Although some lawsuits are justified, many are frivolous. Either way, you need to protect yourself from the financial devastation a lawsuit can cause.

What does umbrella insurance cover?
If you are sued by someone and the judge/jury finds you guilty, your umbrella insurance …

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