If you enter a loan forgiveness program or a creditor cancels your debt after negotiating or modifying your total debts owed, you will receive Form 1099-C, Cancellation of Debt. This form serves as a report to the IRS and unless you meet certain criteria, the cancelled debt will count as taxable income for that tax […]
What is IRS Form 1099-C and How Should You Use It When Filing Your Taxes? Read More »
If you spent most of last year barely reaching your financial goals and struggling with your budget, pay attention to your spending and saving habits. You need to start socking away some of your monthly income into a “no touch” savings account, no matter what your income level may be. But that’s easier said than
5 Money Saving Strategies to Save You Thousands of Dollars Read More »
Tax season can be stressful for obvious reasons, but one way of making it brighter is receiving a big income tax refund from the government. Those checks can mean a large return if you’ve been overpaying on your tax liability, but it’s usually up to the taxpayer to seek out all of the possible ways
How to Know If You’re Eligible for the Earned Income Tax Credit Read More »
If you need tax 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, 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
Free Places for IRS Tax Help and Tips For Do-It-Yourself Tax Filers Read More »
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
Got Kids? Here are 10 Tax Benefits For Parents Read More »
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
Use These 5 Tips for Financial Intimacy In Your Relationship Read More »
Arkansas Attorney General Dustin McDaniel filed a consumer protection lawsuit against a Missouri man and two companies that control six payday loan websites offering loans to Arkansas consumers at interest rates that exceeded 600 percent. The lenders known to be controlled by the defendants include: Action Payday, Bottom Dollar Payday, Everest Cash Advance, Paradise Cash
Arkansas Attorney General Sues Operators of 6 Online Payday Lenders Read More »
Q: Are there any organizations in the Philadelphia, PA area are participating in the IDA Program? A: For those of you that have never heard of this before, an IDA is: An Individual Development Account (or IDA) that lets low-to-moderate income earners save money for a specific goal – such as a down payment on
IDA Programs: Where to Find Matching Funds for Your Financial Goals Read More »
Q: Hi, I have a pretty unique situation regarding student loan debt. I have about $100K in student loan debt. I did not find a job until about 8 months out of college and the loans were in deferment. The entry level position I obtained was not enough to pay my loans and I was
I Can’t Afford To Repay My Student Loans. What Are My Options? Read More »
Car loans, mortgages, credit cards, and even your apartment rental application can only be approved when you have a solid credit history. If your credit score is deemed too low by lenders, landlords, and other companies that check your credit score as part of the application process, you could be missing out on low interest
What to Do If Your Credit Score is Too Low Read More »
You may not be divorced or even separated when you find out that your spouse stole money from you. When your husband or wife steals money from your bank account or wallet, they may have lied to you to cover up their act and broken your trust. Lies like these can be especially damaging to
What to Do if Your Spouse Stole Money From You Read More »
When you’re filing your federal income tax return, you undoubtedly want to pay the least amount of money possible to Uncle Sam. One effective way to minimize your taxes is by claiming various dependents and exemptions on your income taxes. Claiming the right number of dependents and exemptions can sometimes save you hundreds, or possibly
6 Tax Rules to Know When Claiming Dependents and Exemptions Read More »
Feeding your children when money is tight is one of the most painful and stressful challenges a parent can face. With rising food prices and economic strain, millions of American families are struggling to put meals on the table. If you’re in this situation, know that you are not alone—and there are concrete steps you
Feeding Your Children When Money Is Tight: A Practical Survival Guide Read More »
A reader of AskTheMoneyCoach.com wanted to know how to deal with a defaulted student loan. Her question and an answer are provided below. Many thanks to Marlene Ware, of the National Foundation for Debt Management for her expertise and providing the answer that follows. Question: My husband’s Sallie Mae loan went into default and was
My Husband Defaulted on a Student Loan. What Should We Do? Read More »
Your Social Insurance Number (SIN) is required for work and to receive any type of government benefits in Canada. You will be assigned a unique number if you are a Canadian citizen, a temporary resident, or a newcomer to Canada. It works in a similar way as the Social Security Number (SSN) issued to eligible
What Should I Do If My Canadian SIN Card Has Been Stolen Read More »
