We’ll admit it: few of us are thinking about tax season in August. With beach season in full swing, it’s one of the least appealing things to focus on. Yet spending a few minutes on next year’s taxes might pay off in a big way. There are actually a number of summertime tax deductions you can take advantage of as long as you know what they are and how to claim them. Today, let’s put down the sunscreen and examine six ways to write off your summer.
Could it be true? Is it really possible to write-off the cost of a summer vacation? The answer: it depends. TurboTax wrote an extensive post on this very subject last June, which states:
Uncle Sam loves money. Uncle Sam loves money so much that he’s willing to give you a tax deduction to help you make even more, so he can collect a little extra in taxes. You can use this to your advantage because you can deduct any “ordinary and necessary expenses” related to the pursuit of business, including trips.
Another week, another report telling us that we need to do something about our pensions. Up to 14 million workers are set to retire with far smaller pensions than their parents, as the “golden sunset gives way to a bleak dawn”, warns the latest report, which comes from the National Association of Pension Funds-backed Workplace Retirement Income Commission. It’s admirable that companies are trying to get us to save more. But it’s also easy to forget that pension funds also have a vested interest in getting you to do so – the more you invest, the more fees they can make.
It’s important to start saving as early as you can if you want a decent retirement. But it’s fair to say that the blood-curdling forecasts from these reports can seem rather unrealistic and just plain unattainable to many. For example, the conclusion of one recent report was that to find what percentage of your salary you should be putting into your pension, you should take your age, and half it.
Chris Guillebeau, founder of TravelHacking.org wanted to visit the world’s 192 United Nations-recognized countries. Tyler Tervooren of Advanced Riskology hopes to run a marathon and climb the highest mountain on each of the seven continents. And Rick Ingersoll, founder of the Frugal Travel Guy website, wanted to rack up enough frequent flier miles so that he and his wife could travel wherever they wanted without paying hundreds or thousands of dollars.
Each of them had goals that inspired them to build up their balance of credit card frequent flier miles as quickly — and as inexpensively — as possible. And all of them have relied heavily on credit card strategies to snare hundreds of thousands of miles each year. Get wise to their systems and you could be the next one hopping onto a flight for your dream vacation. Below, they share some of their best tips — and offer advice on avoiding expensive pitfalls.
Americans reportedly spend an estimated $294 billion on out-of-pocket medical costs each year, according to a study reported by CNN Money. The soaring cost of health care has prompted more and more consumers to consider medical credit cards as a way to pay for these unforeseen and necessary expenses.
Recently, I became one of the millions of Americans faced with this dilemma. As I sat in my oral surgeon’s office staring at x-rays of my soon-to-be-removed wisdom teeth, I was presented with the cold hard truth. This procedure was going to cost me nearly $3,000, none of which would be covered by my dental insurance. Suddenly a medical credit card was looking like one of my only viable options.
If you find yourself in a similar situation, here are some questions to consider before deciding to pay with a medical credit card.
What is a medical credit card?
Medical credit cards function like typical credit cards and are offered to consumers with large out-of-pocket health care expenses.
Has the stock market turbulence from the last few weeks got you pooping in your diaper? Youre not alone. Heres a parody video of the usually confident baby facing some portfolio losses. Warning: Some bleeped-out curse words.
A recent poll has suggested that the base interest rate is unlikely to be increased over the course of this year, which is something that will bring relief to many homeowners and borrowers who are already struggling to make ends meet due to soaring costs and bills. The data comes from the latest Reuters poll of economists, which reveal that there is now only a 30 percent chance that the Monetary Policy Committee will increase the base rate from its current record low of just 0.5 percent where it has been for well over two years.
However, economists are predicting that there will be a base rate increase in the first quarter of next year although some believe that the next rate hike could be at least one year away, perhaps even longer.