It's fun to get a tax refund each year, but really you are just getting your money back from the government who has been keeping it (and keeping the interest you should have gained) all year long. Check your withholdings to try to keep more money now, and less of a refund later. … [Read more...] about Tax refunds are actually bad investments
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Plan investment transactions carefully to minimize taxes
Pending a possible change to the tax laws, as of now (August 11, 2010) the capital gains tax rates (the tax you pay in gains in your investments) are subject to increase starting in 2011. For some investors that means it might be beneficial to sell stocks with gains this … [Read more...] about Plan investment transactions carefully to minimize taxes
Don’t forget to claim tax benefits on home energy improvements
Improving your home's energy efficiency saves money each month on your utility bill, and can also mean a free bonus from the IRS. Check out the list at Energystar.gov for the latest credits which can offset your purchase costs. Check with your local utility company as well to … [Read more...] about Don’t forget to claim tax benefits on home energy improvements
“Invest” in paying down debt, for high “returns”
If you are paying high interest rates on debt, beyond what you stand to earn on your investments, you might come out ahead by redirecting those investment dollars towards debt reduction. Consider that if you are paying 20% a year on your credit card balance, but earning 5-10% in … [Read more...] about “Invest” in paying down debt, for high “returns”
Maximize your employer “match” for bonus retirement money
Check with your HR/benefits department to see if your employer offers a 401(k) match program where they add onto your retirement savings. If they do, think of it like a free money bonus for your retirement and try to maximize that match (i.e., put in as much as they will match … [Read more...] about Maximize your employer “match” for bonus retirement money