Our economy is still not doing as well as expected. Growth forecasts have been revised downwards and interest rates are less than 1% for fixed deposits in most banks. Even the savings accounts have a really dismissal interest rate of 0.05% here in Singapore. You may be better off keeping your money under your mattress like during olden times instead of letting it be subjected to the various account-keeping fees incurred by leaving it in the bank.… [Read more]
With just over 8% of the American work force currently unemployed, with no projected change in the next year and a half, I thought it might be a good time to review the tax implications of unemployment.
- Yes, you do have to claim unemployment benefits as taxable income. You should receive a 1099-G form which will show the total amount of unemployment benefits received at the end of the year.
So, you’ve set an intention to get yourself out of debt. Noble, my friend. Studies have shown that the average American has over $10,000 in debt, most of which is credit-card debt. Yikes. But then you’re staring at your pile of bills, or your Mint.com account, and wondering — where do I start? Which debt do I tackle first?… [Read more]
We are at the midpoint of 2012. If you believe in the ancient Mayan prophecy, this means we really only have 5 1/2 months to live, so feel free to go ahead and spend up! But, if you’re skeptical about the Mayans, or perhaps believe that you CAN take it with you, let me ask you a few questions.… [Read more]
I have two kids: a 3-year old and a 4-month old. We are together almost every day during the summer months. I also have a budget of about $3 a week for “child entertainment”.
And let’s face it. Playing in your own yard with your own toys is fun for about 5 minutes. On a good day.… [Read more]
I assume you get all your personal finance news and nuggets from me, and need no other information ever… ha! But if you WERE to want more than what you see here each weekend, I present to you nine of my favorite resources for managing your money, your career, and your life.… [Read more]
I remember going to work with my mom when I was a little girl. Her boss would often reach into his pocket, hand me whatever change he had floating around in there, and hand it to me, calling it “pig food” (as in, food for my piggy bank). I was obsessed with coins. (Guess they should have known I would end up sitting for the CPA exam many years later.)… [Read more]
In case you aren’t painfully aware that the student loan situation has gotten terribly out of hand, consider this: the average college graduate owes $25,000 in debt—what do you say to someone in that situation? Add to this the sublime impossibility of finding a job (days and days spent, dozens of CVs sent out… it’s like a ritual of sorts) and the proliferation of unpaid, or “for credit/experience/exposure” internships, and moving back home to your parents seems like more of a dire necessity than a sensible decision.… [Read more]
I get questions fairly frequently about quarterly taxes. Who is required to file them? And why? Since the second quarter filing is coming up and I’m busy helping my clients get these done, I’ll make this short and sweet.
In general, if you either owed more than $1,000 last year in taxes, or expect to owe more than $1,000 this year, you are required to file quarterlies.… [Read more]