Lynnette Khalfani-Cox, The Money Coach

How To Avoid Fraudulent Telephone Call Scams

Scams / Lynnette Khalfani-Cox, The Money Coach / telephone phone scams

The FBI Newark Division recently released a warning to consumers about a new scheme that involves telecommunications denial-of-service (TDoS) attacks. The FBI has found that criminals are compromising victim accounts and then contacting financial institutions to change the victim’s profile information. These attacks often result in unauthorized access to consumer financial and brokerage accounts and […]

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A table lists consumer complaints by category, including numbers and percentages: Identity Theft (369,132, 18%), Debt Collection (199,721, 10%), and others. Credit Cards are at the bottom with 51,550 complaints (3%).

FTC: Top 10 List of Consumer Complaints

Identity Theft / Lynnette Khalfani-Cox, The Money Coach / Financial Scams, FTC complaints

Identity theft is once again the top consumer complaint in America, according to data received by the Federal Trade Commission and released in the agency’s 2012 annual report of complaints. In all, the FTC received more than two million complaints from U.S. consumers in 2012. That was a record number of consumer complaints and it marked

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A wooden balance scale with an apple on the left side and an orange on the right, both evenly balanced, much like a well-maintained Equifax credit score.

What is the Difference Between the Equifax Credit Score and the FICO Score?

Credit Scores / Lynnette Khalfani-Cox, The Money Coach / Equifax credit score, FICO score

If you’ve ordered your credit report and credit score recently, or want to learn more about your credit standing, you may be wondering about the difference between your Equifax Credit Score and your FICO Score. Both of these scores are general-purpose score models that can tell someone – either a lender or even you –

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2 Good Credit Cards for Those With Bad Credit or Fair Credit

Credit Cards / Lynnette Khalfani-Cox, The Money Coach / Capital One

Having a low credit score can take you out of the running for many credit cards. But credit blemishes – or even major black marks on your credit report – don’t mean you’re financially doomed and can never get a credit card.

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A man with a receding hairline and a goatee is wearing a brown suit and blue shirt. He is smiling, giving two thumbs up, and has a cigarette in his mouth—an image that could easily be used for id theft.

4 Ways to Beat Con Artists and Avoid ID Theft, Tax Fraud and Tax Scams

Identity Theft / Lynnette Khalfani-Cox, The Money Coach / Adam Levin, Identity Theft 911, tax fraud, tax scams

Tax fraud is on the rise, according to federal authorities. Before the April 15 tax-filing deadline arrives, scores of Americans will become victims of tax-related identity theft, as criminals continue to steal tax refund checks or unlawfully use people’s Social Security numbers. In other cases, bogus tax preparers will collect sensitive personal information from

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A hand holding a pen is carefully filling out a U.S. 1040 tax form, meticulously noting potential tax deductions.

10 Best Tax Deductions and Credits for Parents

Taxes / Lynnette Khalfani-Cox, The Money Coach / child and dependent care credit, child tax credit, Earned Income Tax Credit, IRS Publication 501, IRS Publication 929, IRS Publication 970

As you get ready to file your tax return for 2012, don’t overlook many of the benefits that were ushered in when Congress passed the American Taxpayer Relief Act in early 2013. This act – also known as the so-called “fiscal cliff legislation” – may work in your favor, particularly because it gives many parents

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10 Tips When Paying Your Tax Bill

Taxes / Lynnette Khalfani-Cox, The Money Coach / Publication 3611

If you’re one of the millions of taxpayers who owe money to the IRS this tax year, you need to make sure you’re taking steps to pay off that liability without any penalties and extra charges. Failing to file your taxes on time or failing to request an extension to file before the due

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A pair of glasses, a pencil, a tax form 1040, and a calculator with a tax button are placed together on the table, hinting at the work ahead for claiming the child tax credit.

What is the Child Tax Credit?

Taxes / Lynnette Khalfani-Cox, The Money Coach / Additional Child Tax Credit, child tax credit, IRS Publication 972

The Child Tax Credit allows you to claim up to $1,000 for each of your “qualifying” children who are under the age of 17 – provided you meet certain income limits. When Congress passed the fiscal cliff agreement in January 2013, lawmakers put the Child Tax Credit into effect for five years, locking it

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A pair of scissors cutting through the word "TAXES" in bold red letters, symbolizing relief brought by the child tax credit.

Can I Claim the Child Tax Credit Plus the Child and Dependent Care Credit?

Taxes / Lynnette Khalfani-Cox, The Money Coach / child and dependent care credit, child tax credit, IRS Form 2441, IRS Publication 503, Schedule 8812

Q: Can I claim the child tax credit plus the child and dependent care credit? A: As long as you legally qualify for both credits, you are allowed to claim both the Child Tax Credit and the Child and Dependent Care Credit, according to IRS rules. To claim these credits on your taxes, simply calculate

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Yellow diamond-shaped sign with the text "TAX DAY AHEAD" in bold black letters, reminding you to prepare for potential tax credits.

What is a Refundable Tax Credit Vs. a Nonrefundable Tax Credit?

Taxes / Lynnette Khalfani-Cox, The Money Coach / nonrefunable tax credit, refundable tax credit, Tax Credits

Whenever you claim a credit on your federal income taxes, the IRS categorizes that credit as either a nonrefundable credit or a refundable tax credit. Most tax credits are nonrefundable, meaning you can’t get money back from Uncle Sam as a result of claiming a nonrefundable tax credit. Examples of nonrefundable credits include:

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A pencil eraser diligently working to erase the printed word "Doubt" on white paper, leaving behind a trail of eraser shavings and partially rubbing out the text, symbolizing a small setback in the journey to clarity.

Rebounding After a Financial Setback or a Major Money Mistake

1 Comment / Personal Finance / Lynnette Khalfani-Cox, The Money Coach / financial setbacks

If you’ve suffered a financial setback or have made a major money mistake, the first thing you need to do to turn things around isn’t to create a budget, find a financial advisor, or start investing in the latest hot stocks. The first step in any personal economic recovery is to get your mind right.

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A magnifying glass is focused on the word "analysis" printed on a credit report, highlighting it in clear detail.

10 Surprising Things That Are and Are Not In Your Credit Report

Credit Reports / Lynnette Khalfani-Cox, The Money Coach / Credit History, Equifax, Experian, TransUnion

You likely already know that it’s a smart idea to check your credit reports annually. In fact, by law, you’re entitled each year to one free copy of your credit reports from each of the country’s largest credit bureaus – Equifax, Experian and TransUnion.

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A close-up of a yellow check with the word "IRS" written in red, dripping letters near the top left corner, hinting at back taxes. The check is blank and unfilled.

What To Do If You Owe Back Taxes or Have an IRS Tax Levy

Taxes / Lynnette Khalfani-Cox, The Money Coach / back taxes, IRS, tax levy

Owing back taxes to the IRS can be a scary and stressful situation. You may have a tax levy or tax lien due to overdue taxes – and it’s tough to manage a budget when your wages or assets get garnished. It’s also no fun to worry constantly about what the IRS can do to

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IRS Launches 2013 Crack Down on Identity Theft, Tax Fraud in U.S.

1 Comment / Identity Theft / Lynnette Khalfani-Cox, The Money Coach / IRS crackdown, tax fraud

The IRS has just announced a nationwide crackdown on identity thieves who steal other people’s tax refund checks or misuse the Social Security numbers of unsuspecting taxpayers. The effort spanned 32 states, as well as Puerto Rico, and was part of a year-long initiative to crack down on tax refund fraud and identity theft.

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Author name: Lynnette Khalfani-Cox, The Money Coach