"If you hear a voice within you say "you cannot paint," then by all means paint, and that voice will be silenced."Vincent Van Gogh
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e-Business Solution Cost-Savings without Risk of Synchronization Errors in iShop by PRONTO North America
According to Tom Verzi, Director of Marketing for PRONTO North America, "Customers expect to be able to communicate and transact with suppliers through a web-based interface for convenience, speed, and instant access to information. iShop provides the ...
Maximize Savings on Everyday Items!
Frugal living is more than a lifestyle. It's a passion. Call Me Crazy! I love It!Why, who wouldn't love getting paid to buy products that they use everyday?Here's how I do it.I purchase an item that has a rebate offer (either a store or manufacturer ...
Maximize Your Used Car Loan Savings In 3 Easy Steps
Buying a new or used car is almost as bad as going to the dentist. You know that it's going to be expensive, painful, and involve some form of getting screwed. However, getting approved for your used car loan doesn't have to be discomforting by any means. ...
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It is a well-known fact that Americans are miserable failures when it comes to saving for retirement. Well, the government is offering tax credits to change this for some of us.
Tax Credits for Retirement Savings
Social security is going to be under siege as baby boomers hit retirements. Fortunately, many baby boomers have put away piles of cash in 401ks and IRAs. Regardless, most people fail to do all they can in this regard. In an attempt to motivate us taxpayers to save as much as we can for retirement, Uncle Sam is dangling tax credits before us like the proverbial carrot.
The tax credit in question is the Retirement Savings Contributions Credit. Qualify for it and you may be eligible to take a credit of $1,000 for singles and $2,000 if you're filing jointly. The credit is eligible for those that make contributions to 401ks and retirement vehicles. The amount of the credit is determined on a sliding scale based on how much you make and contribute.
You can claim the retirement savings tax credit:
1. Individual taxpayers with incomes of $25,000 or less.
2. Individual taxpayers that are head of households and make $37,500 or less.
3. Married couples filing jointly who make $50,000 or less cumulatively.
There are some very minor restrictions regarding who is eligible for the tax credit. First, you have to be older than 18. Second, you can't be a full time student. Finally, another dependent can't claim you as a dependent on their tax returns.
Importantly, this tax credit is in addition to other tax advantages you gain from piling money into a retirement account. With a 401k, for instance, you can pound in pre-tax earnings, which cuts down your adjusted gross income for the tax year. Once you figure out your taxes, you can then deduct another $1,000 or so for the tax credit. Put another way, saving for your retirement is a no brainer.
The federal government is practically begging you to put away money for retirement. With this tax credit, there is absolutely no reason to fail to comply.
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Fulton delivered by deep savingsAtlanta Journal Constitution, USA - 7 hours agoCounty finance officials reported Wednesday ending 2008 with $59.7 million in the bank after two consecutive years of drawing down savings to make ends meet ... |
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