July 2010

2011-2012 HSA and MSA Limits and Tax Rules – How to Best Utilize Health Savings Accounts

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[2012 HSA Limits Update] The IRS has released 2012 HSA figures which have resulted in an increase to the contribution limit for an individual by $50 in 2012, from $3,050 to $3,100. The family contribution limit is also increasing from $6,150 to $6,250 (+$100). The maximum annual out-of-pocket increased as well. The individual out of pocket maximum [...]

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Battle of the Banks: Local Versus National

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There’s a lot to consider when choosing your bank. After all, the fate of your hard-earned money lays in the decision. The institution charged with keeping your funds secure and fostering their growth into a sizable sum has a lot of expectations to meet. Usually, consumers look for banks that offer competitive interest rates. This [...]

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Home Energy Green Tax Rebates Extended into 2011 For Residential and Business Owners

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[Update Dec 2010] President Obama has signed into law a bill that covers a $858 billion extension of all the bush-era tax cuts, plus some additional tax benefits. With this legislation he has essentially created a new 2011 Economic Stimulus package, that includes the following green energy tax breaks: – Energy-Efficient new homes credit discussed in the update [...]

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Cash Rewards on Visa (V) and Mastercard (MA) Earnings With No Credit Card Needed

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Going into the earnings season, credit card transaction processing companies like Visa (V) and MasterCard (MA) have been hit pretty hard due to adverse impacts of the recently approved financial reform regulation which limits the interchange fees they can charge banks and merchants for card transactions.  However the actual regulation in the financial reform bill was [...]

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Chelsea Clinton’s $2 Million Wedding – Extravagant or Expected? Plus Other Good Reads

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I remember getting married many years ago and was stunned by how much one night of dinner, drinks and dancing with 100 of your closest friends and family could cost. Fortunately my parents helped with paying for the wedding, and even thought it was a relatively modest affair it would still cover many a college [...]

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Housing Market Predictions and Forecast For Home Prices in 2011 and 2012

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[September 2011 update] The American housing market is still in the doldrums according to the latest S&P/Case-Shiller Home Price Index which showed that U.S. home prices are down a record 5.9% from the corresponding quarter last year (2010). But there is some good news in that home prices are up 3.6% from last quarter. The [...]

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Alternative Home Loan Modifications Outpacing Government HAMP Mortgage Relief Program in Helping Homeowners

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In a sign that private enterprise is still much more efficient than government run programs, USA today published a story confirming that private servicers’ alternative home loan modifications are outpacing government sponsored HAMP mortgage modifications. Despite the attention given to the federal government’s $50 billion Home Affordable Modification Program (HAMP), which was designed to lower [...]

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Am I Saving Enough Money For Retirement and How Much You Should Be Putting Away in 401K or IRA Accounts

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Nothing is more significant over the long term from a financial planning aspect than ensuring you are setting aside and investing a sufficient amount to take care of your monetary needs in retirement. This can be easy to put off, especially if retirement is far away and taking care of your personal finances is low [...]

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How To Prepare for Tax Increases Next Year In this Sluggish Economy

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We are more than halfway through the year and yet many major economic indicators are still showing the economy is not recovering as many would have hoped. The US economy lost 125,000 jobs in June and new home sales recently dropped about 33% (the most in 40 years), with pending home sales falling another 30% [...]

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How and Where to Open an IRA or Roth IRA Account and Factors to Keep in Mind

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I receive a lot of questions on Individual retirement accounts (IRA) based on related posts I have written about. One question that seems to come up often, is how to actually open an IRA account and where is the best place to do so. An IRA (individual retirement account) is your personal savings plan for retirement, offering [...]

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