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Money

February 2015
Ambord
Dollar Sense

Tax-related Scams That Target the Elderly and Vulnerable and What to Watch For

The tax credit is real, and is called the American Opportunity Tax Credit or AOTC. To qualify, the taxpayer must be currently enrolled in higher education. Con artists rope in unsuspecting seniors by convincing them the credit is available to them even if they went to college many years ago.

Ambord
Dollar Sense

The Cost of Some Home Care Workers Won’t Change After All

In plain English, if you employ a household worker whose duties go well beyond companionship, you may still have to pay overtime and minimum wages to that worker. And this is true whether you employ the worker privately or through a third party agency.

January 2015
Ambord
Dollar Sense

Consider This Lower Cost Way to Pay Big Expenses: A Home Equity Line of Credit

A HELOC is good for one-time or rare expenses, like the dental care mentioned, or a needed expensive home repair, like a new roof. Don't seek a HELOC if you need it to meet day to-day expenses. If that's your situation, you are already in financial hot water and a HELOC will only make it worse.

Ambord
Dollar Sense

Potpourri: Stuff You Should Know to Keep Your Money and Your Identity Safe… Plus a Few Freebies

Of course, the details I would get would actually be a computer infected with malware through which they would attempt to steal my identity and my assets. The thieves finished by wishing me a Happy Thanksgiving. Wasn't that nice? Bless their thieving little hearts.

David
Legal Ease

Intra-family Loans and IRS Interest Rate Rules

Even though you would be charging interest on the loan, you can always gift back the amount of the interest payments your son made (or was supposed to make) over the course of the year.

December 2014
Ambord
Dollar Sense

Make Your Own Final Arrangements: Ease the Burden On Your Loved Ones

The beneficiary of the POD account has no claim on the money while you are living. After you pass on, all he or she has to do to receive the proceeds of a POD account is to present a certified copy of the death certificate, and his or her proof of identity. There might be a short waiting period, but the money will not enter probate.

Ambord
Dollar Sense

Potpourri: Stuff You Need to Know About Your Money, Threats to Your Identity, and Your Estate (Plus a Few Freebies!)

In some cases, life insurance is part of an estate. If that’s your situation, you may have more assets than you thought, and your heirs may end up paying estate tax if you don’t plan well.

Ambord
Dollar Sense

Tax Time is Rolling Up Fast Too Fast. Here are Some Points You Should Know to Minimize Your Taxes, Preserve Your Money, and Avoid Tax-Related Scams

The IRS will not try to contact you by email or social media to request personal or financial information, so if you get a call claiming to be from the IRS, you're probably being scammed. Even if your caller ID says "IRS," remember, it's easy to create a bogus caller ID. Thieves use this tool all the time to lure people into becoming victims.

Ambord
Dollar Sense

What’s Best for You -- Bank, Credit Union or Going Bankless?

The economy that motivates each of us is the economy of our own household. Sometimes that means ditching the bank and finding a way that suits our pocketbooks.

David
Legal Ease

The Crucial Basics of Getting Down to Business About Your Business

Since you have children working in the business who may want to become owners at some point, you will need to carve out an exception in the buy/sell agreement which would not require the sale of your ownership interest in the company at your death, allowing you instead to transfer that interest to those children upon your death.

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