Apr 13

The folk at Your Local Security (the website for the ADT company, for sake of full disclosure) have shared this article and infographic with the PF Blogging community.

Every year we all have to pay taxes, and most of us get a nice juicy refund (especially those of us with kids!). Yet how many of us actually use our tax refund wisely? According to the IRS, the average tax return in the United States is around $2750! We decided to create this infographic to explore some of the most beneficial (in our opinion) ways one could spend—or not spend—his or her tax return. We hope you enjoy it, and I personally hope you put the advice to practice and start making some money off that return! Let us know your thoughts below in the comments, and remember to share this with your friends!

Note: You can click on the image to get a full, larger view.

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Jan 06

And, another guest post at the TurboTax Blog, this time asking the question, “How are you going to spend that tax refund?”The IRS tells us that last year’s average refund was just shy of $3000, so I offer a number of ways you might choose to spend this money, with choices from both the “naughty” and “nice” categories.

So, why not visit and let me know, how will you spend your refund this year?


written by Joe \\ tags: , ,

Sep 07

In this past weekend’s radio address, President Obama talked about new initiatives for retirement savings. Allow me to summarize, and then offer my comments;

  1. Allow small businesses to automatically enroll workers in 401(k) plans.
  2. Offer an option to receive your tax refund as a saving bond.
  3. Allow employees to put payments for unused sick or vacation time into their 401(k) account.
  4. IRS and Treasury to offer a guide to inform people how to rollover their accounts when changing employers.

I’m sorry to say, I see nothing here of value. What will put more money in our pockets or help stabilize the financial markets? The third list item only impacts a worker changing jobs, and at time when they are most likely to need the cash. Note – this is not the worker’s 401(k) money, just the pay for unused vacation and /or sick time. I have higher hopes to see changes that will actually have an impact.

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Feb 09

Home owners who do not have enough deductions to itemize may take up to $500 if single, $1000 if married filing joint, as a deduction on their taxes for the 2008 return. Not a huge break, but the couple in the 25% bracket who can’t itemize will see a $250 larger tax refund (or smaller amount due. One of the recent bits of legislation that impacts the 2008 return.


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