Tax Basics you should know
In less than a week the year is over and it is time to start putting together our tax returns. It is time to get in the mail all of our documents needed to put together our taxes. I always make out a reminder list of what documents I should be getting. For instance, I list W-2’s from each company, 1099 from another business, Mortgage statements and more. Then when each comes in, I check them off. I keep track of all my home and business expenses each month so it is a lot easier at tax time. like I have said before it is better to hire someone to do your taxes for you. But here are some basics to know;
Simple Ideas on Saving Money on your daily expenses
Everyday we have ways we could save money on our daily expenses and not sacrifice your life. It is amazing how just simple things to do can add up. When helping people get out of debt, I help them first get their monthly spending less than there monthly income. Next we find ways to free up $100 to $500 a month to be able to pay down there debt and become debt free. Systematically the only way to get debt paid off is to pay towards the principle owed. Most of the monthly minimum payment required from a lender is interest. So we need to send extra money to pay towards the principle. Later we will give a brief overview of how to systematically get debt free in less than 10 years including your mortgage. But the first way is to control our expenses and then to free up extra money each month to pay down debt. So how do we do that without getting a second or third job. Here are just a few ideas that may work. Some may sound weird or simple but they do add up. I have scene many people that used some of these to free up money and they still enjoyed there lifestyles. For instance drinking water at work instead of pop helped save me about $24 a month and I lost weight.
