Making the Most of Your Tax Return

first_imgBy Leigh Guth with Molly C. HerndonPalms get itchy this time of year with folks anticipating their tax refund. All too quickly the refund is here and gone again, spent as quickly as it came. It is important to remember, especially this time of year, that a tax refund is not “free money” – rather it is the return of earned income. PFMs, this year, help others develop a plan for saving the bulk of their refund. For example, by taking a small amount – perhaps 20% – to use that for a fun purchase or a vacation. But, by saving the remaining 80% of the refund, taxpayers can begin improve their family’s financial situation. Here are some considerations to share with your clients:Look at your financial health and consider the year ahead. What debts are you paying off? Do you have a high interest credit card or loan? Check out PowerPay.org to see how much money you would save in interest by paying a lump sum toward your debt. Power Pay will show you which loan you should target and how much quicker you will pay off your debt by using your refund as a debt payment.What crisis could come along? Do you have six months’ worth of living expenses saved for an emergency? What if you were to lose your job? What if you need to repair your car, replace your washing machine, or have a major medical expense? Could you pay for those things without resorting to your credit card? A tax refund is a great way to start an emergency fund that would help handle any of these events.What big events are planned this year?Is there a wedding, summer trip or a graduation in the future? Use your tax refund to open a savings account for this purpose. With a lump sum to start you on your way, adding a small monthly amount can make saving for a special occasion a cinch.Are you saving for your retirement or your child’s education? This tax refund could make a great impact toward any savings goal and can have a positive effect on your taxes for next year.As discussed in a recent post, by using direct deposit for your tax refund, you are already taking a step toward success! Directly deposited refunds arrive faster than a mailed check. By using an IRS Form 8888, you can assign your refund to up to three different bank accounts. So, you could send 20% of your tax refund amount to a checking account reserved for discretionary purchases, then, send the remaining amount to a retirement account or savings account. You can also use this form to purchase up to $5,000 of U.S. savings bonds to add to your retirement or education savings. Now, you are already on your way to improving your financial health in 2012!last_img read more

Batang Pier brace for series vs Kings

first_imgAfter winning out in a classic encounter for the right to bring up the tail of the playoff field, GlobalPort is bracing for a series against what its coach said is the best team in the PBA Commissioner’s Cup.Terrence Romeo drained a tough triple with 8.1 seconds left  that helped key the Batang Pier’s 107-106 nipping of Alaska at Mall of Asia Arena on Sunday night for the last quarterfinal slot as GlobalPort gears up for the series of its life against top-ranked Barangay Ginebra.ADVERTISEMENT Pagasa: Storm intensifies as it nears PAR BSP survey: PH banks see bright horizon amid dark global recession clouds LATEST STORIES “We surprised a lot of people,” GlobalPort coach Franz Pumaren said after the gripping win that saw the best of Terrence Romeo at the clutch. ”Justin Harper finished with 32 points and Romeo capped a 26-point night with that dagger triple over Kevin Racal’s pressure defense for 106-104, a sequence of greatness that Pumaren later said typified how thick-faced Romeo is.FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSMalditas save PH from shutout“You have to give credit to the guy (Romeo), he was willing to take that shot. In short, makapal talaga ang mukha niya,” Pumaren said in jest of Romeo, who made three of his six triples inside the last five minutes.  “It takes a great player willing to take that shot.”Corey Jefferson fired 32 points and had 16 rebounds in Alaska’s eighth straight loss, which ruined Calvin Abueva’s career-high 31 points on top of  13 rebounds. Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games “Ginebra is really peaking at the right time,” Pumaren said of his opponent at 7 p.m. on Tuesday, the first of two games the Batang Pier need to win to march on to the Final Four. “It will be a tough series for us, we’re playing the best team [in the conference] that’s on a streak.”The loss meant that Alaska will be missing the playoffs for the first time under Alex Compton’s watch that dates back to the last eight conferences, where the Aces finished runner-up four times. It  will also be the first time that Alaska failed to make it past the eliminations in  14 conferences.Sports Related Videospowered by AdSparcRead Next Palace: Duterte to hear out security execs on alleged China control of NGCP BREAKING: Cop killed, 11 hurt in Misamis Oriental grenade blast Every 18 seconds someone is diagnosed with HIV Cayetano dares Lacson, Drilon to take lie-detector test: Wala akong kinita sa SEA Games BREAKING: Cop killed, 11 hurt in Misamis Oriental grenade blast View comments MOST READ Venus Williams loses in 4th round at French Open Don’t miss out on the latest news and information. Lacson: SEA Games fund put in foundation like ‘Napoles case’last_img read more

Illegal landing in NW Provo

first_img Car-jacking, armed robberies, TCI Police hands full with new gun crimes Related Items:#magneticmedianews, #SeeSomethingSaySomething Facebook Twitter Google+LinkedInPinterestWhatsApp New Gun Crimes unit under construction, says TCI Police Commissioner Facebook Twitter Google+LinkedInPinterestWhatsAppTurks and Caicos, July 25, 2017 – Providenciales – Illegal landing of a suspected Haitian boat yet again in NW Provo last night and yet again anything and everyone aboard the vessel got in without apprehension.  There are no details at this hour including how many people, if this was another speed boat drop off or the precise time of the landing.What is clear is that greater UK support is required to aide the TCI in this huge, multi-pronged fight.   OPBAT, which includes Royal Bahamas Defense Force, US Coast Guard and DEA is useful but the waters of the Atlantic Ocean surrounding the TCI, The Bahamas, Cuba, Hispaniola and the Florida coast is a massive area to police.    There have been significant interceptions  over Spring and Summer 2017.Crimestoppers TCI continues to pitch messages to discourage these risky voyages in Haiti and in country and the prevelance of these human smuggling operations are beginning to blemish the reputation of Turks and Caicos.The TCI awaits the findings of a UK assessment of National Security needs; the assessment was conducted earlier this year by the United Kingdom which is constitutionally responsible for Natl Security and Foreign Affairs.#seesomethingsaysomething#MagneticMediaNews Recommended for you Editorial: Stop Likin’ Man!last_img read more

LongServing Members of Golden Gates World Outreach Ministries Celebrating Churchs 45th Anniversary

first_img Related Items: Facebook Twitter Google+LinkedInPinterestWhatsApp Facebook Twitter Google+LinkedInPinterestWhatsApp#Bahamas, November 23, 2017 – Nassau – Her Excellency Dame Marguerite Pindling, Governor General, welcomed to Government House 45 long-serving members of Golden Gates World Outreach Ministries, who was ‘there from the beginning’ — celebrating the church’s 45th Anniversary with their courtesy call on Tuesday, November 21, 2017.(BIS Photo/Letisha Henderson)last_img read more