ManagingMoney.com Money Blog

Winter Travel Tips

2012-01-24T16:58:13Z

Whether you're traveling by car or air, the winter season can be one of the busiest and most dangerous times of the year. However, if you follow the Boy Scout motto "Be prepared", you should always be ready for anything. For successful winter travel, whether for business or pleasure, prepare in advance the following:

]]> Have phone numbers readily available and make sure your cell phone is fully charged. You should have the number of your hotel, car rental agency, and airline with you. These numbers should be in your cell phone or written on a piece of paper in your wallet or purse for easy access in case of an emergency or a delay.

If you're flying, here are a few flying travel tips:

Fly non-stop whenever possible. Flying non-stop saves headaches of switching planes, or carriers, including the possibility that your connecting flight could be cancelled or delayed.

Check the weather at the airport of your connecting flight. If your destination city is going through a severe weather storm, you may want to re-book the location of your connecting flight. In this case having travel insurance can be a real plus as they can assist you with emergency travel needs including coverage for trip cancellation, trip interruption, trip delay, medical expenses, and baggage loss.

Check flight status early and often. Most often airlines will update the flight status at the very last minute when they are sure that severe storms are going to be an issue for flight take-off.

Choose a morning flight. Morning flights are less likely to be cancelled or delayed. Flights later in the day generally face more logistical effects of bad weather which results in more flights being delayed or cancelled.

If you check in all your bags, be sure to pack some extra clothes with you and take it in a carry on. You'll find this very handy if your bags get delayed.

If you're driving, here are some driving travel tips:

Prepare your car in advance by checking the following:
•Check your tires. Rain, snow and ice can make roads deadly. Check your tire tread and make sure the air pressure is accurate for your particular vehicle.
•Keep lights clean and make sure they are working.
•Check your battery. A dead battery is the main cause of breakdowns, so get it checked and replaced if necessary.
•Cooling system. Make sure that the anti-freeze content meets the manufacturer requirements.
•Windshield Wipers. Check windshield wipers and replace them if they fail to fully clear the window.
•Fuel. Make sure you have more than enough fuel for your journey.
•Pack a shovel in case of snow.

No matter whether you are driving or flying, you should consider purchasing a travel insurance plan. Travel insurance can cover you for trip interruption, flight delay or cancellation, and covered medical expenses. As stated above, travel insurance can be a real plus if you are faced with any emergency travel needs. Visit www.ManagingMoney.com for a list of Travel Insurance companies.

Preparing for the 2012 Tax Filing Season

2012-01-15T21:14:42Z

The 2012 Tax Filing Season is here! Although your tax return isn't due until April 17th, you should start thinking about it now so you're not stressed out at the last minute. Did you notice the revised filing date of April 17th? According to the IRS, the reason for the date change this year is for two reasons: April 15 falls on a Sunday; and Emancipation Day (a holiday observed in the District of Columbia), falls on Monday, April 16. According to federal law, District of Columbia holidays impact tax deadlines in the same way that federal holidays do; therefore, all taxpayers will have two extra days to file this year. Although you may think it's early, the IRS will start accepting e-filed tax returns on Tuesday, January 17, 2012. Here a few key tips to keep in mind as you prepare to file your taxes:

]]> Gather your records. Collect all documents that support the income or deductions you plan to claim on your return such as receipts and cancelled checks.

Consider your filing options. There are many options for filing your tax return. You can prepare it yourself or go to a tax preparer. You may be eligible for free face-to-face help at a volunteer site. Give yourself time to weigh all the options and find the one that best suits your particular needs.

Consider direct deposit. If you elect to have your refund directly deposited into your bank account, you'll receive it faster than a paper check in the mail. Note that most online tax providers offer Free e-filing which will get your Federal refund in as fast as 7 days with direct deposit. Whereas if you file your return through the IRS directly, the IRS estimates 7-14 days for e-file with direct deposit.

If you prefer to file your taxes the old fashioned way using the paper tax form, the following are some IRS guidelines to know which form to file:

Use the 1040EZ if:

Your taxable income is below $100,000

Your filing status is single or married filing jointly

You are not claiming any dependents

Your interest income is $1,500 or less

Use the 1040A if:

Your taxable income is below $100,000

You have capital gain distributions

You claim certain tax credits

You claim adjustments to income for IRA contributions and student loan interest

If you don't qualify to use the 1040EZ or the 1040A, you'll probably need to file using the 1040. Among the reasons you must use the 1040 are:

Your taxable income is $100,000 or more

You claim itemized deductions

You are reporting self-employment income

You are reporting income from sale of property

Visit the IRS website at www.IRS.gov for further clarification. Regardless of the manner in which you choose to file your taxes, remember these Key Tax Filing Dates:

January 17, 2012: IRS begins accepting e-filed tax returns.

April 17, 2012: Filing deadline for federal income (and most state) tax returns.

October 15, 2012: Last day to e-file a 2011 income tax return for most tax extension filers and late tax return e-filers.

Visit ManagingMoney.com for brand-name online tax providers and online forms, including tax software. Keep in mind that most online tax providers offer personalized tax advice for your unique situation and will be able to answer your specific questions. If you start now your tax filing will be much easier in 2012.

EverBank Launches Checking Account Promotional Offer

2011-10-31T22:31:39Z

EverBank has launched a promotional offer -- an enticing alternative to current checking accounts. Now through November 30, 2011 EverBank is offering a $60 Cash Back Reward for customers who switch to EverBank's Yield Pledge Checking Account! EverBank's Yield Pledge is that the yield on your Yield Pledge Checking Account will remain in the top 5% of competitive accounts in the nation.

]]> EverBank has frequently been recognized by others in the industry for financial and product performance, and as recently as July 2011, Bankrate.com awarded EverBank a 4-star safe and sound rating. EverBank does not charge fees for using a debit card or ATM and pays high yields. Additionally, EverBank offers unlimited reimbursements on other bank's ATM fees when you maintain a $5,000 average daily balance. EverBank also offers Free online and mobile banking, online billpay, and overdraft protection. To open a Yield Pledge Checking Account you must initially deposit $1,500. To qualify for EverBank's $60 Cash Back Reward you must make one direct deposit of at least $500 and maintain a balance of $1,500 for 60 days. At a time when many people are looking at checking account alternatives, you should take a look at EverBank's Yield Pledge Checking Account. Click herefor more details.

Ally Bank Announces Full Launch of eCheck Deposit

2011-10-20T19:21:16Z

At a time when many people are looking at checking account alternatives, Ally Bank may be of interest to you. Ally Bank is an online bank built on the foundation of GMAC, one of America's largest financial services providers. Ally Bank takes a somewhat different approach to banking which they believe "took a wrong turn somewhere between fees and penalties". Ally Bank Checking has announced the full launch of their eCheck Deposit program which is a quick, safe and convenient way for customers to deposit checks to their Ally Bank accounts by scanning and transmitting a check image online.

]]> The eCheck Deposit program allows you to automatically deposit your checks into any of the following Ally Bank accounts: Savings, Checking, and Money Market Account. The eCheck Deposit Wizard walks you through a step-by-step process in the check-scanning and upload process. The Wizard allows both Mac 10.6 and Windows users to make deposits from wherever there is access to a scanner and an Internet connection, plus it's compatible with Google Chrome, Safari, Mozilla, and Internet Explorer. Instead of having to run to the bank at lunch or after work, save time by depositing your checks electronically in the comfort of your home or office with the Ally Bank eCheck Deposit program.

If you already have an Ally Bank checking account you can continue to deposit your checks to your Ally Bank accounts through: transferring money online from another financial institution, direct deposit, wire transfer, or U.S. mail. With an Ally Bank Checking Account there is No Minimum to Open an account, No Monthly Maintenance Fees, No ATM fees, and many other benefits. If you are new to Ally Bank, take a look here.

2012 Entertainment Book Now Available

2011-09-26T18:09:55Z

The 2012 Entertainment Book is now available and with incredible enhancements. New this year is the Mobile App. With the Mobile App you can now view maps, merchant info, driving directions, and more! The Mobile App even lets you show your phone to receive discounts from the Entertainment Book mobile coupon network.

]]> The Entertainment® Book has been widely recognized as the best coupon book on the market for saving money on hotels, restaurants, local attractions, travel, groceries, and more! Specifically included are: 50% off and 2-for-1 coupons to help you save money on everyday essentials right in your own neighborhood. Discount areas include: Dining, Shopping, Movie Tickets, Groceries, Services, Travel, Attractions, Car Care, and Home Furnishings. This year the Entertainment Book website has added even more ways to save now and throughout 2012 with additional Printable Coupons, Online Shopping discounts, and more. Get your Entertainment Book today!

Prepaid Credit Card Highlight

2011-09-20T17:30:08Z

Managing your money can now be a little easier with a Western Union® MoneyWise™ Prepaid MasterCard®. Having the name, Western Union, is a great benefit in and of itself as Western Union (NYSE:WU) is a leader in global payment services and provides a variety of products & services including: money transfer services, bill payment services, prepaid credit cards, and money orders. With the new Western Union® MoneyWise™ Prepaid MasterCard® you can enjoy "freedom from fees" and say goodbye to embarrassing credit checks along with the hassles of NSF or overdraft fees. Enjoy the following benefits:

]]> With the name "Western Union" you have widespread acceptance of your MasterCard. There are 4 different ways to load money into your Western Union® MoneyWise™ Prepaid MasterCard® account plus you can load anywhere from $5 to $950 each day onto your card, with a total limit of up to $10,000. The Western Union® MoneyWise™ Prepaid MasterCard® has no annual fee, no monthly maintenance fee, free payroll direct deposit (including government benefits providers) and no activation fee (as long as you activate your card online).

Applying for your Western Union® MoneyWise™ Prepaid MasterCard® is easy and you do not need a checking account to apply. Your funds are ensured by the FDIC (as long as you register your card) and if your card is lost or stolen, your funds are protected by MasterCard's Zero Liability Policy. For more information on the Western Union® MoneyWise™ Prepaid MasterCard® and other prepaid credit cards Click Here.

How to Find a Trustworthy Payday Loan Lender

2011-09-08T14:46:00Z

Finding a trustworthy payday loan lender can be difficult, especially when you are in a hurry and you just need some fast cash so you can pay those bills before late fees start arriving, or overdraft/NSF charges start accumulating. Overdraft and NSF charges are often much more costly than fees incurred from payday loans. Take the time to check these 4 items before you choose your payday lender.

]]> 1. State Licensed: Verify that your lender is licensed in your state. A state licensed lender should give you a sense of security as you know your loan is governed by state and federal finance laws in your state. A state licensed lender ensures that companies follow full disclosure of loan terms and is in compliance with truth in lending laws.

2. Professional Affiliation: Check that your lender is a member of a professional affiliation such as the Community Financial Services Association of America, (CFSA) or the Online Lenders Alliance (OLA). These organizations require their members to follow standards of Best Practices and Codes of Conduct such as: full disclosure of loan terms, reasonable cancellation policy, compliance with truth in lending practices, and more.

3. Secure Website. Be sure that your lender's website is secure. Since you are releasing private information online, it is very important that you verify that your online lender's website is secure and that they use internet security technology such as VeriSign or McAfee Secure which can protect you from online predators.

4. Read the Details. Read your lending agreement and pay attention to the fine print such as the Rates & Terms. Remember "the devil is in the details".

Remember to always take the time to research your online lender and always read the details of your loan obligation before signing your agreement. When you have emergency financial situations that we all sometimes have, payday loans are often the low cost alternative to late fees or overdraft and NSF charges. To compare online payday lenders Click Here.

IRS Disaster Assistance and Emergency Relief for Individuals and Businesses

2011-09-01T15:23:58Z

The Internal Revenue Service has disaster assistance and emergency relief available for those who have suffered as a result of Hurricane Irene. There are tax provisions that may help both individuals and businesses recover financially from the impact of disasters, such as Hurricane Irene, especially when the federal government declares their location to be a major disaster area.

]]> Individual taxpayers can obtain a Disaster Loss Kit through IRS Publication 2194 which assists individuals claim casualty losses on property that was destroyed by a natural disaster, such as Hurrican Irene. Business owners can obtain a Disaster Loss Kit through Publication 2194B . The kit contains tax forms needed to claim a casualty loss. The IRS also has agriculture tax tips for affected business owners which offers helpful tax tips including whether crop insurance and crop disaster payments are taxable.

If your location is declared a federal disaster area, both individuals and businesses can get a faster refund by claiming losses related to the disaster on the tax return for the previous year, usually by filing an amended return.

For additional details on disaster assistance and emergency relief from the IRS, Click Here.

Ally Bank Introduces Individual Retirement Accounts (IRAs)

2011-07-13T18:01:00Z

Ally Bank recently introduced Individual Retirement Accounts (IRAs) within their selection of banking products. Now you can invest your retirement savings and get stable, secure growth with an Ally Bank Traditional, Roth, or SEP Individual Retirement Account (IRA). Choose from the following Ally Bank products for you to invest your IRA: IRA Raise Your Rate CDs, IRA High Yield CDs, and IRA Online Savings Accounts. All product choices are FDIC insured up to the maximum allowed by law.

]]> Deciding on the appropriate IRA plan (Traditional, Roth, or SEP IRA) will depend on your particular retirement goals and you may want to consult with your Investment Advisor or your tax professional. Below is a summary of the key factors to consider when choosing your IRA plan:

Traditional IRA: For those interested in having their investment grow tax-deferred until withdrawal during retirement. In many cases, contributions are tax-deductible in the year they are made.

Roth IRA: Appropriate for those interested in both tax-free growth and withdrawals. Roth IRA contributions are not tax-deductible.

SEP IRA: For business owners or those who are self-employed and also for employees of a business that has a SEP IRA.

Once you choose an IRA plan, Ally Bank has several products for you to invest your IRA: IRA Raise Your Rate CDs, IRA High Yield CDs, and IRA Online Savings Accounts. Whichever vehicle you choose, know that the rates you will earn are consistently among the most competitive in the country. Below is a brief description of the IRA investment vehicles:

IRA Raise Your Rate 2-year and 4-year CD - Get the flexibility of the Ally Bank Raise Your Rate CD products, now available in an IRA. Start with a great rate, plus have the ability to increase your rate once over the 2-year term or twice over the 4-year term.

IRA High Yield CD - Secure a great rate and select a term that works best for you ranging from 3 months to 5 years.

IRA Online Savings Account - Open and fund your account with any amount. No monthly maintenance fees.

Ally Bank (previously known as GMAC Bank) is a subsidiary of Ally Financial Inc. Ally Bank has a 90-year-old history and provides a variety of services including banking, mortgages, auto financing and leasing, commercial finance, and more. Ally Bank is FDIC insured to at least $250,000 per depositor.

CitiFinancial Formally Re-brands to OneMain Financial

2011-07-06T12:03:37Z

CitiFinancial, the consumer lending arm of Citigroup, formally changed its name to OneMain Financial effective July 1, 2011. Citigroup, Inc. (NYSE:C), the world's leading financial services provider, has more than 1,800 locations across the United States, Canada, and Puerto Rico. Although the name OneMain Financial is new, the history behind it is not, as the company has been providing loan solutions since 1912.

]]> OneMain Financial specializes in providing personal loans with a straightforward application process and local, customized, service. In announcing this renaming from CitiFinancial to OneMain Financial, Jim Ryan, Executive Vice President of Marketing, states: "As we enter our 100th year of lending in communities both large and small across the U.S., the OneMain Financial brand identity provides a great opportunity to reinforce our commitment and our values to our customers." Mr. Ryan goes further to state that the logo's signature red and blue colors are to reflect the OneMain brand as a "patriotic nod to our heritage as the leading community-based lender in the U.S."

For more information on obtaining a personal loan from OneMain Financial, click Here.

ING DIRECT Kids Savings Account

2011-05-17T17:48:08Z

ING Direct has announced the official launch of their new savings program - Kids Savings Account. Have the "money talk" with your children early and let them know that saving money can not only be fun, it's easy too. The Kids Savings Account is FDIC insured and currently pays a 1.00% variable Annual Percentage Yield with No Fees, and No Minimums.

]]> Teach your children the benefits of saving with the ING Direct Kids Savings Account. It's easy to open and, if your child is old enough, you might want to consider having your child sit with you while you open the account. You just need to have your checkbook available so you can make your first deposit electronically from your existing checking account. This will create an electronic link between both accounts so you can more easily transfer funds. Please note that this account cannot be used for power of attorney or beneficiary accounts.

ING DIRECT is a member of ING (NYSE:ING), a global financial institution of Dutch origin, and one of the largest financial services companies in the world offering banking, investments, life insurance and retirement services. ING DIRECT is a member of the FDIC (FDIC Certificate Number: 35489) and all savings accounts are insured up to $250,000 per owner.

April 18 Tax Day

2011-04-15T19:20:39Z

This year tax day falls on Monday, April 18th. As you work on getting those dreaded taxes done, keep the following IRS tax tips in mind - otherwise you may have a delay in getting your tax refund.

]]> File electronically. Filing electronically vastly reduces the errors in a tax return, as the tax software does the calculations, flags common errors and prompts the taxpayers for missing information. (Visit ManagingMoney.com Tax Center to compare brand name online and desktop tax providers)

Remember Making Work Pay. The Making Work Pay tax credit -- available in 2009 and 2010 -- is worth up to $400 for individuals and $800 for married couples. Most people got it as a reduction to their paycheck withholding. Form 1040 filers must complete Schedule M, attach it to their returns, and claim the credit to benefit from it. (Tax software handles these calculations automatically for e-filers.)

Mail a paper return to the right address. Paper filers should check the appropriate address where to file in IRS.gov or their form instructions to avoid delays in processing. Fill in all requested information clearly, including Social Security numbers.

Check only one filing status. Also, check the appropriate exemption boxes. When you enter Social Security numbers, make sure they are correct.

Double check all figures. While software catches and prevents many errors on e-file returns, math errors remain common on paper returns.

Get the right routing and account numbers. Requesting a federal refund directly deposited into one, two or even three accounts is convenient and allows you access to your money faster. Make sure the financial institution routing and account numbers entered on the return are accurate. Incorrect numbers can cause a refund to be delayed or deposited into the wrong account.

Sign and date the return. If you are filing a joint return, both you and your spouse must sign and date the return. E-filers can sign using a self-selected personal identification number (PIN).

Attach forms to the front of the return. Paper filers need to attach W-2s and other forms that reflect tax withholding, as well as other necessary forms and schedules, to the front of their returns. Those claiming credits that require special documentation, such as the Homebuyers Credit or the Adoption Credit, are also reminded to include all the suitable records with their returns.

Request a Filing Extension. If you cannot meet the April 18 deadline, requesting a filing extension for your return is easy and will prevent late filing penalties. (Go to ManagingMoney.com -Taxes File for an Extension for providers who can help you.) Keep in mind that while an extension will grant you additional time to file, you are still required to pay any taxes owed by April 18.

Do you owe tax? If so, a number of e-payment options are available. Or send a check or money order payable to the "United States Treasury."

ING Direct Offers $50 Cash Bonus

2011-04-12T15:49:27Z

ING Direct is offering a $50 Cash Bonus when you open an ING Electric Orange^SM Checking Account. The ING Electric Orange^SM Checking Account earns a great interest rate on all balances. With an ING checking account there are No Fees and No Minimums to open an account. You will have free access to over 35,000 ATMs, a Free MasterCard Debit Card, and Free Online Bill Pay.

]]> Opening an Electric Orange^SM checking account is easy and only takes minutes to do. To open an account you must be 18 years old, a U.S. Citizen or permanent resident, and have a valid Social Security Number. Once you open your Electric Orange^SM Checking account and make a total of 3 Card purchases or P2P (Person2Person) payments (or any combination of the two) within 45 days of account opening, $50 will automatically be deposited into your account on day 50.

Wedding Season

2011-04-06T14:36:29Z

Wedding Season is right around the corner. Here are a few legal "I Do's" you should be aware of and plan for whether it's your wedding, or the wedding of your family member or friend. If you (or they) keep these legal items in mind you (or they) will enjoy wedded bliss instead of legal woes:

]]> • Get signed contracts with all wedding vendors. Whenever you make an agreement with a vendor be sure to put it in writing. If any of your vendors don't have a standard contract, you can create vendor contracts such as a "Venue Rental Agreement".
• Get liability insurance for your wedding. Often wedding event spaces require a Release of Liability for an event, which can be completed through a simple form. When you're signing the contract with the venue, ask about their liability requirements so you can prepare accordingly.
• Create or update your estate plan. Once you're married, you'll need to include your new spouse in your Will, Living Will, Living Trust, Power of Attorney, or any other family legal documents. Planning your life with your fiancé includes planning for all circumstances, in sickness and in health. Talk with your fiancé about your estate plan so you're prepared for anything.
• Consider a Prenuptial Agreement. It's not just used to protect your assets in case of divorce. A Prenuptial Agreement allows both spouses to disclose their financial situation before the marriage -- so both parties know what they're getting into, and can create a plan.
• Decide on married names. The easiest way to get a legal name change is to write your new name on the marriage license. The hard part is deciding what this name will be.
Visit ManagingMoney.com Legal Directory for a variety of legal forms, software, and books to make your special day, and future life, worry free. Happy Nuptials!

Energy-Related Tax Credits Go Beyond 2011

2011-03-31T15:02:54Z

The concept of Going Green will continue to help you save on your individual taxes through the year 2016. Tax credits created or expanded by the American Recovery and Reinvestment Act of 2009 includes the Residential Energy Efficient Property Credit. According to the Internal Revenue Service, "this tax credit will help individual taxpayers pay for qualified residential alternative energy equipment such as solar hot water heaters, solar electricity equipment and wind turbines installed on or in connection with their home located in the United States and geothermal heat pumps installed on or in connection with their main home located in the United States". The credit, which runs through 2016, is 30% of the cost of qualified property.

If you are looking for a personal loan to fund your energy-related project, visit theManagingMoney.com Loan Center.