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One bright spot of tax season is the possibility of getting back a big income tax refund check from the government.

As an overall financial strategy, I don’t recommend that people rely on income refunds – because if you’re constantly getting one it means you’ve let the government take out too much taxes during the previous year.

But if you can snag a large tax refund check due to you reclaiming a tax credit, well then that’s a smart move.

And one of the biggest tax credits available is the Earned Income Tax Credit, or EITC.  Continue reading “How to Know If You’re Eligible for the Earned Income Tax Credit” »

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If you need help filing your federal income taxes, look no further than the IRS itself.

And don’t worry: the IRS isn’t out to get you.

On the contrary, in 2012, the IRS has more than 12,000 free tax preparation sites nationwide as part of an ongoing effort by the Internal Revenue Service to team up with non-profit agencies and community groups throughout the U.S. to better aid taxpayers. Continue reading “Free Places for IRS Tax Help and Tips For Do-It-Yourself Tax Filers” »

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Any parent knows that kids can be awfully expensive.

They eat a lot, or sometimes not much at all, picking all over their food and wasting it.

They tend to sprout up like weeds, outgrowing clothes, shoes and even hats and gloves before those things get a proper wearing. (By that, I mean there should be holes in all those items before they’re handed down to a younger sibling).

And then, of course, kids want a lot of stuff. Can you say iPhone, Nintendo DS or Xbox 360 Kinect?

Little wonder that, in the past decade alone, the cost of raising a child from birth to age 18 has risen nearly 40% to $226,920. Continue reading “Got Kids? Here are 10 Tax Benefits For Parents” »

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Valentine’s Day is right around the corner and as much as the holiday is about romance, finances also play a big role in what happens on Feb. 14th.

Guys are often under pressure to come up with the “big” gift – like an expensive engagement ring – or to make some other dramatic show of their love and affection.

And even among couples that have already tied the knot, money matters can loom large. Surveys show that most U.S. couples argue about money, and half of all couples report having separate accounts.

If you want to achieve financial harmony in your relationship — especially ahead of Valentine’s Day – try these five tips: Continue reading “Before Valentine’s Day, Use These 5 Tips for Financial Intimacy In Your Relationship” »

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