Mortgage interest rates are on the rise, but today’s rates are still well below the historical average of 7 percent. If your interest rate is above today’s average, you may have already tried—and failed—to refinance your mortgage, maybe more than once. Why, if you have remained current on your mortgage through these tough economic times, [...]
As a homeowner, it’s important to know what your insurance policy covers. If your insurance doesn’t cover you for something you thought it did, you could end up paying out of pocket for property damage or injuries. Here are seven common myths about homeowners insurance coverage: Myth #1. Anyone I hire to do work is [...]
There are many financial obligations that can clutter up your financial life. From the junk mail pushing the latest credit card offer to the checks you write to pay bills, the financial chaos can start to weigh you down. A piece of personal finance advice: To get back on track, you may want to begin [...]
I’ve seen thousands of cases where the IRS grabs tax refunds from taxpayers. In most cases, there is one cause for this irritating IRS practice: The taxpayer didn’t respond to the IRS’s letters. It’s as simple as that. When you have a balance or a new assessment due, the IRS sends out a notice that [...]
Many people dream of the independence that comes with being self-employed. But along with that freedom comes more responsibility—like paying taxes to the IRS multiple times per year. Independent contractors and the self-employed don’t have taxes withheld by an employer and are usually required to pay estimated taxes in quarterly installments using Form 1040-ES. These [...]
Whether you’re married or cohabitating, you’ve likely thought about how to most effectively manage your money as a couple. Should you combine everything, have a household account, or simply keep everything separate? The choice is a very personal one that depends mostly on your financial goals, but there are a few other things you may [...]
The biggest and nastiest tax battle divorced or separated taxpayers face is over which person gets the rights to the tax credits for children and dependents. One particularly underhanded trick that is often played involves one person filing taxes in early January to grab the dependents and tax credits before the custodial parent files a [...]
The cost of driving doesn’t come cheap. When you tack on the price of gas—now at more than $3 per gallon—and auto insurance, it may seem more appealing to commute via horse and buggy. But if you are shopping around for auto insurance or thinking about updating your current policy, you could save big bucks [...]
