Archive - May 2011

1
8 Ways To Get Penalized by the IRS
2
12 Simple Steps To Financial Success
3
How Your Social Security Disability Benefits Work When You Retire
4
How To Get Your Social Security Benefits Statement
5
The Unsustainability of the US Economy

8 Ways To Get Penalized by the IRS

There are two ways that the IRS can assess a penalty to you – failure to file, or failure to pay; and it’s not out of the question that you could be subjected to both types of penalties.  The IRS recently issued IRS Tax Tip 2011-74, which lists out eight facts they’d like you to know about these penalties.

Eight Facts on Penalties

  1. If you do not file by the deadline, you might face a failure-to-file penalty.  If you do not pay by the due date, you could face a failure-to-pay penalty.
  2. The failure-to-file penalty is generally more than the
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12 Simple Steps To Financial Success

Now is a good time to look towards the future and recommit to past goals or create new ones especially when it comes to our personal finances.

Just in time to help with your goal-setting, here is a list of 12 simple steps you can take with your money:

1. Develop a habit of saving: It’s never too early or too late to start.

2. Build a budget that aligns with your values: Think about what makes you happy and then allocate your money accordingly.

3. Create a financial plan that reflects your most cherished goals: Think of it as …

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How Your Social Security Disability Benefits Work When You Retire

When you leave full-time employment, there is a period of time after that when you will continue to be covered by Social Security for Disability Benefits.  Welcome to the 20/40 Rule.

The 20/40 Rule

If you have become disabled after you’ve left employment, you may be eligible for Disability Benefits – assuming that you’re under Full Retirement Age (FRA).  In a case such as this, if you have worked the required number of quarters to be eligible for Disability Benefits, the rule is that you must have worked 20 quarters out of the previous 40 quarters, earning at least …

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How To Get Your Social Security Benefits Statement

Since 1999, American workers have automatically received an annual Social Security projected benefit statement in the mail. In an effort to save money, these statements will no longer be mailed, at least for the period from April through September 2011. The Social Security Administration predicts that in October it will resume mailing annual statements, but only to those who are age 60 or older and not receiving benefits.

Individuals can still access their benefit statement online. You can get a personalized estimate of your future retirement benefits at www.ssa.gov/estimator, but it won't contain as much detail as the physical …

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The Unsustainability of the US Economy

I don't know about you, but I don't deserve it. For decades the US has been on a financially unsustainable path, it has been unable to reform entitlement systems that clearly will break the bank if nothing is done, it has engaged in various costly and pointless military adventures, it has eroded privacy rights and civil liberties in the name of protecting us from the dangers of terrorism, which are orders of magnitude smaller than those of driving to work, it has catered to special interest and subsidized whole industries, and so on ad nauseam.

Whenever a system is not …

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