As we enter the season of gift giving, it’s time to watch budgets even closer. Explore these sites recommended by ThePennyHoarder.com, The Dumbest Things We Keep Spending Too Much Money On, to save on your monthly bills and other needed household items such as:
Car Insurance
Amazon
Credit Card Interest
High Speed Internet
Movies and More
Leave yourself more money for the fun things in life during the holidays.
If you are entering the market for a home, some rules about realtor commissions have changed. Now sellers and buyers will both be responsible for these payments after the decision in a case brought against the National Association of Realtors. They will no longer be able to mandate the seller’s agent make an offer of monies to the buyer’s agent, or set any kind of industrywide standard commissions. Debra Kamin for the New York Times offers best practices for buyers and sellers as these new rules come into play. Buying or Selling a Home? The Rules Have Changed.
It’s a new era for homebuyers applying for a mortgage. In what’s known as a “trigger lead,” consumers may receive 60 to 100 phone calls and texts soon after their credit is pulled for mortgage approval. The idea behind credit bureaus selling this information to lenders was to give homebuyers options, but the market has become over burdened with disreputable and deceptive lenders. This deluge of contact has become such an issue with consumers that there is pending legislation to prevent trigger leads.
Read more here: The trigger effect: Homebuyers face another challenge when applying for a mortgage
Eighty-six percent of women hope to achieve security in retirement but the statistics show that only about 33% of them will. Poverty often hits women harder in retirement. In 2021, AARP and the Ad Council came together to create a new campaign, “We Say Save It,” to help women better plan for retirement living. The article, AARP, Ad Council Team Up to Boost Women’s Retirement Savings talks about the reasons why women suffer monetarily after quitting work and directs readers to the, WeSaySaveIt.org official site that offers women detailed information on retirement savings and ways to make your money work best for you.
When was the last time you wrote a check? Paper checks may seem like a dated form of payment and can cost companies up to $1 to process, but there are still merchants and organizations who receive almost a quarter of their money via check. Ron Lieber for the New York Times explores our cultural relationship with checks and why they will most likely be around for some time to come in, Why Paper Checks Refuse to Die, click to read more.
Ever have trouble getting your clients to pay? Are they frustrated by the cost and what they perceive as your work for them? What value does your effort bring to your clients? Joe Woodward explores these questions for Account Today podcasts and thinks that maybe it’s the accountants who need to change their thinking and business model. Listen Here. (Photo courtesy of USplash.)
How would you feel about a six day work week? The six day work week is the latest corporate world idea to increase revenue. As many companies institute on-site requirements, some are considering added work hours and days per week. This may be a viable practice from a business financial standpoint but it leaves employees who are already feeling the stress of increased work demands following the pandemic, and struggling to find a work/life balance in a more precarious position.
HSA card and FSA account holders may use their pre-tax money for various medical needs. When requesting “medically necessary” products and equipment, a doctors note may be required. The IRS advises that certain health and fitness items do not qualify even with an official note from a physician. Some in the medical industry feel this is over stepping on the part of the government or that tax rules favor medicines over prevention. Read more here: Why the IRS doesn’t believe your doctor’s note for tax-free health items
As tax time fast approaches you may have realized that your tax withholding was either too much or not enough. What are the best ways to assure this number is correct for future years? Visit irs.gov/witholding to learn more or watch this short video to get started.
Taxpayers are urged to file their returns when ready and not to wait on Congress and decisions they may make in the coming weeks. Martha Waggoner for the Journal of Accountancy shares more in the article, Don’t wait on action on tax bill to file returns, IRS tells taxpayers. She encourages all taxpayers to not worry about changes from governmental actions and to know that if these do affect individual’s taxes the new guidelines can then be applied to their returns.
