Be Good To Your Money Newsletter http://ezezine.com
Be Good To Your Money Newsletter Volume 6 Issue 2
Copyright: February 15, 2009 All Rights Reserved
Publisher: Lisa Frye www.LisaFrye.com
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IT'S TAX TIME AGAIN!!
Recovery Rebate Credit- To determine if you are eligible for the
Recovery Rebate Credit on your 2008 tax return, you will need to know
the amout of your stimulus payment. Don't remember the amount? Go to
www.irs.gov or call (866) 234-2942.
#1 Tax Question - Can I claim the monies lost in my 401 (K)? If your
money is still in the 401 (K), then you didn't lose any money. You lost
"value", which is NOT a tax deduction. However, if you receive a
distribution (payment) that was "previously taxed", you can claim the
If I owe taxes, is it better to use a credit card to pay the debt? - As
I have stated before, it is not good to use a credit card to pay any
debt unless you can pay off the balance within 30 days. A payment plan
with the IRS is about 1% vs 14+ % with the credit card company.
FINANCIAL AID FOR COLLEGE
With financial aid funding in jeopardy of being underfunded for the
2009/2010 school year, college students should complete their financial
aid applications ASAP. Delaying may mean no money!
STIMULUS PLAN TAX CREDIT
Effective July, 2009, you will see the $10 to $20 increase in your
paycheck for the tax credit. The increase will max-out at $500. Stay
tuned for the next leg of "The Road to Recovery".
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