Want to Boost Your Income?

Need a short-term loan or find a few extra bucks each month?  Start by reviewing your withholding allowance on your W-4 at work.

Many Americans are used to and even look forward to receiving a tax refund check each year.  According to the IRS in a USA Today article, last year the average federal tax refund jumped 10% to over $3,000.  While a big check is nice to get once a year, would it be better to get less on that check and have more for household expenses (or saving) each month?

Do you realize that when you receive a large tax refund, you have essentially given the federal government and interest free loan - interest that you could have earned by saving, investing or even paying down debt?  In fact, the IRS released a press statement recently showing that over 1 million taxpayers will lose out on over $1.1 billion dollars in refunds from 2007 if they are not claimed by April 18, 2011.

Bottom Line:  You should be putting your own money to work for you!

EVERYONE is Eligible to Free File!

Did you know that anyone can file their tax returns for free?  Why pay a company or individual when you can do it for free?  Your options for free filing will be based on your income.

Low to moderate income people (generally under $49,000), seniors over age 60 and military personnel are eligible to take advantage of the Volunteer Income Tax Assistance (VITA) sites or Tax Counseling for the Elderly.  Find a VITA site near you by using this IRS site list.

Those filers with an adjusted gross income (AGI) of $58,000 or less can utilize one of many free online filing methods.  Here is an EXTENSIVE list of free file sites and help finding a company if you need it.

Of course anyone can use the IRS' Free File system and e-file your return.

How will you prepare your own household taxes this year?

March Focus: TAXES!

Federal tax filing deadline is April 18, 2011 (some of you get a freebie couple of days!). We are going to use the month of March to provide practical tips for completing your tax filings. Short, sweet and to the point - you...... won't want to miss it!