Why You DON’T Want a Large Income Tax Refund

You’re probably wondering, “Why wouldn’t I want a large tax refund?”  Short Answer: You’ll have more cash in your wallet all year instead.,.. Consider this… Most people don’t want to give the government an interest free loan for more than a year. They’re holding your money hostage while you may be cutting corners to cover all your expenses. You are not in any way required or obligated to overpay your taxes every year, so why put yourself at a disadvantage unnecessarily? Large Tax Refund Cases Over the past 30 years I have seen a few instances where taxpayers need to have a large refund. It comes down to one factor –… Read More

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Divorce Mediation Facts and How To Prepare

Divorce Mediation Is Supposed To Be Different. I say supposed to be different, because what the legal system calls Alternative Dispute Resolution procedures can be very similar to litigation, or in some cases can be like blindly agreeing to just get it over with. Here are the details for those that are considered “The Latest and Greatest” divorce processes.   Collaborative Divorce with a Mediator Here’s the skinny on collaborative divorce. Husband and wife each hire an attorney. The attorneys try to negotiate a settlement. The major advantage is that this is an out of court process. This is best for those couples who have accumulated a large asset base and… Read More

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5 Divorce Mistakes That Can Cost You Lots of Money… and Sleep

Whoosh! That’s the sound of money from divorce mistakes flying out of your wallet. You chase after it, but never seem to catch up… You’re doing everything you think you’re supposed to, but nothing is working. Your accounts seem to become self-draining, and you can’t seem to stop the leaks. You wonder what you’re doing wrong…  and why this has become so complicated. Chasing your money, running from meeting to meeting… And your emotions are all over the place, like your money. You’re frantic about your future because it seems everything is unknown. Then… suddenly at 3 am… in a panic… you wake up. It was all a bad dream…… Read More

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Divorce Negotiation Persuasion

Key Divorce Strategy – Art of Negotiation Persuasion Components Needed For Negotiation Persuasion Persuasion is accomplished by using: fact-based narratives, physical evidence (which in many cases is deficient), and the key, the slight twist that’s formulated based upon who you are trying to persuade.                   Are You Ready For Negotiation Persuasion? Once a divorce begins, emotions generally take over and it’s hard to focus. If you can’t focus, you can’t persuade anyone of anything. Common techniques tend to be either temporary, or more of a distraction from your true need to focus on what you’re doing.            … Read More

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Estimated Tax Payments – The Real Deal

What Are Estimated Tax Payments? Some people don’t have to even think about what estimated payments are all about. They have their federal and state income taxes withheld by their employers, retirement payouts, and even Social Security benefits. However there are many who have no withholdings and face an excessive tax balance at the end of the year when they file their tax returns. In addition to self-employed folks, this occurs when people have income from investments, such as bank and bond interest, sales of stocks, and rental income to name a few. Many retirees and senior citizens make estimated tax payments. The Internal Revenue Service is a “pay as… Read More

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Additional Refunds With Amended Tax Returns

Did you know that once you file a tax return you have more time to claim additional refunds by filing an amended tax return? You may not have received documentation of a deduction by the filing deadline, or maybe you didn’t realize there was a deduction you were entitled to that you didn’t claim. Either way, there is a remedy… and in addition to the correction reimbursement, the IRS will pay you interest on any payment beyond June 1st after that particular tax return was due.  When Should I File Amended Tax Returns? This is how “THEY” explain it: “Generally, for a credit or refund, you must file Form 1040X… Read More

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Why An Emergency Fund Is A Must For Every Woman’s Financial Fitness

Your Emergency Fund is for that rainy day… While this seems to only make sense, you’d be surprised how many women don’t have an emergency fund. For some reason they don’t seem to think that they will need it, at least not soon. I’ve met too many women who wear those rose colored glasses and assume life will go on without any hitches. They’re the ones who get themselves into the most trouble. Lots of bumps in the proverbial road could come up. Here are a few: 1. You could lose your job. Believe it or not, no matter how secure your position, any number of things can affect the… Read More

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At What Age Should Women Begin To Create Their Emergency Fund?

The short answer is… it’s never too early to start, but also never too late to start.   Starting The Emergency Fund As A Pre-Teenager It’s never too early for a young woman to begin to learn the value of money, how to earn it, and how to save it. They should begin to earn money early. They can have a lemonade stand, deliver newspapers, walk dogs, babysit, and more. If you have a daughter who actually does things for you around the house, you could consider a small allowance. They can do dishes, help with laundry, yard work, and eventually learn how to use a lawn mower. Help them… Read More

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The Simple Answer To Overcoming Your Divorce Fears

For 15 years I have spoken with many women who have been facing divorce fears – all ages, and with varied income levels and family sizes. Throughout it all there has been one common denominator. In some cases it related to finances, in others it related to children, and of course many related to the emotional aspects of the divorce itself. I say related, because this one common denominator was not related to the divorce process itself. Almost every single individual had major concerns that circled the question “How am I going to survive AFTER the divorce?” This is not “rocket science.” You see it every day with men as… Read More

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Don’t Let Divorce Wreck Your Thanksgiving

With Thanksgiving coming up in a few short weeks, many of us can’t help but focus on the negatives that we may be facing right after the holidays and further into the future, especially when considering divorce. There is no doubt that all of us, no matter the circumstances, will have bumps in the road. So how can you get past these dark thoughts, at least for now? Every year at this time for the past 10 or 12 years my daughter and I have spent a few hours helping out at our local food pantry. We help them prepare for both Thanksgiving and Christmas.   It’s an overall massive… Read More

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