Tax Season is upon us again and millions of Americans may put off filing until just before the April 15 deadline. Government cutbacks over the past few years have resulted in a number of layoffs of IRS agents, and subsequently, the number of tax audits has been falling, but don’t be fooled into thinking “I’ll never get audited.” Roughly one million Americans will be audited this coming year[1]. These audits do not include filers whose returns were sent back for mistakes.
The IRS does not accept tax returns until mid to late January, but there is no time like the present to start planning for your taxes and be that much closer to a possible tax refund.
The holiday season can be a stressful time for many people. For others it can be a time of excess. Either way, don’t let that stress and excess give you a financial hangover. Plus, the holiday shopping season seems to start earlier every year, making that stress longer as well. According to a 2017 survey by RetailMeNot, 54 percent of consumers plan to begin holiday shopping before Black Friday.
If you have ever had a personal loan application denied by any traditional lending institution, it can leave you with limited options. There are many reasons a bank or traditional lender might deny a loan. Because banks have very stringent underwriting guidelines to determine who is credit worthy they may deny applicants who do not have the best credit histories.
Achieving and maintaining financial fitness starts with having the right information. It is important to understand the key components of a healthy financial outlook and how to optimize them to your advantage.
It can happen to anyone at any time - you’re navigating along through life just fine when, without warning, an unexpected expense comes out of nowhere. You may not have enough funds saved to cover the cost, so now you need money and you need it fast. The question you ask yourself is, "where do I turn to get money for my financial emergency?"
Around August 1st every year the newspapers and television are filled with Back to School ads. It’s a reminder that summer is almost over, and the kids will be going back to school soon. Back to School shopping can turn into a money pit for parents who are not mindful of all the items that need to be purchased for school.
A 2018 Identity Fraud Reporti produced by Javelin Strategy & Research, shows the number of identity theft victims increased to 16.7 million in the U.S. This is an 8% increase from the previous year. Despite industry efforts to prevent identity fraud, the study shows that identity thieves stole from 1.3 million more victims in 2018 and the amount stolen increased to $16.8 billion. The types of identity fraud continued to move online and away from physical stores due to embedded chip cards. It was reported that fraud is getting more complicated, meaning identity fraud criminals are opening more new accounts to compromise accounts consumers already have.
You may have noticed recently that your grocery bill is climbing. Food costs are increasing in America, and it can take a big bite out of your monthly budget. However, everyone must eat!
The current generation of young adults could be facing the most uncertain economic future of any group since the Great Depression. Crushing student loan debt, stagnant wages, growing economic disparity and the after-effects of the 2008 market crash are just a few of the burdens young adults must carry as they try to manage their financial situation.
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