January 17, 2012 – 4:01 pm
Image: TaxBrackets.org Lindsay Lohan might have received an “A” for behavior on her recent progress report, but she gets an “F” in financial literacy. The former child-star owes nearly $94,000 in back taxes from 2009. MSNBC reported that on Jan. 5 the Internal Revenue Service filed a notice of a Federal Tax Lien against Lohan. The [...]
While we can’t offer you respite from the heat wave oppressing much of the country, we can bring you good news of upcoming sales tax holidays to ease the burden on your back-to-school shopping budget. (Don’t have a household budget? This is a perfect time to create one and educate your kids about what all [...]
Welcome to this week’s edition of our Tuesday Top 5, Econ4U’s weekly tips post to help you manage your money in five easy steps. CDs, money markets, and Roths — oh my. The world of saving for the future is an alphabet soup, but we’ve put together this handy glossary for helping you figure out where [...]
April 19, 2011 – 12:54 pm
As you undoubtedly already know, the deadline for filing your 2010 taxes was yesterday. But if you’re reality-television rockers Ozzy and Sharon Osbourne, it was also a good day to pay taxes for 2008 and 2009. Better late than never! On April 4, the IRS put liens on the Osbournes’ two Los Angeles-area mansions to [...]
April 15 is traditionally tax day, but because today is a public holiday to celebrate Emancipation Day in Washington, D.C., the country is given three extra days to file their federal tax returns for 2010. If you’re a wait-til-the-last-minute type, here are three commonly misunderstood deductions and how to claim them on your return: You can [...]
We’ve written before about unintended consequences and banking restrictions or consumer credit. But there are plenty of other places where they show up. What if the new health-care law — meant by lawmakers to reduce medical costs for Americans — actually increased them for the average family’s household budget? An article in the Wall Street Journal [...]
February 15, 2011 – 5:15 pm
Welcome to this week’s edition of our Tuesday Top 5, Econ4U’s weekly tips post to help you manage your money in five easy steps. In 2010, the average filer’s tax refund was a whopping $3,036, reflecting some new tax credits to stimulate the economy. A fat check like that gives the average family a whole lot [...]
February 1, 2011 – 1:05 pm
Just when you think playing for the NBA couldn’t get any better between the insane paychecks and adoring fans, here’s a new perk: If you’re a big enough star, your employer will even pay your way out of trouble with the Internal Revenue Service. That’s what former Miami Heat point guard Tim Hardaway found out [...]
January 19, 2011 – 1:05 pm
Blue Monday, officially the most depressing day of the year, is coming up on January 24. How was it calculated? Here’s the official formula, courtesy of the U.K.’s Mental Health Foundation: According to the scientists who developed it, “The model was broken down using six immediately identifiable factors; weather (W), debt (d), time since Christmas [...]
January 11, 2011 – 1:59 pm
Val Kilmer may have played Iceman in Top Gun, but he’s not about to outmaneuver the taxman for the second time. In April 2010, Kilmer settled a $538,858 tax debt with the IRS. But that wasn’t all he owed to the feds, because in November, the IRS filed a new lien — worth $498,165 — [...]
