New And Looking For Irs Advice

Hello – I just found this site and am hoping I can gain financial intelligence!

– Where you are from? – South Carolina, previously Florida.
– Do you have a lot of debt or a little debt? – About 15,000
– What sort of debt do you have? (credit card, bad credit payday loans, medical, house, etc) – IRS, medical, credit cards – I’m not considering my mortgage as debt as it is less than I paid to rent a house in FL!
– Are finances affecting your life negatively? Somewhat. How? – everytime I think I’m ahead, I drop back two spaces and have to try and catch up again.
– What do you hope to get out of this site? – Information and resources.

We bought our first home last year due to a move with the company I work for – from FL to SC. We stayed with a relative in SC for a few months – so did not have any utilities or rent topay. I also received a lump sum check from my employer for moving expenses. We wanted to buy a house because the real estate was so much less in SC than in FL. This was at the time of the mortgage companies fall out. I was surprised when I gor approved for a mortgage with the debt I had – I was in the rating of weak to barely fair! I was able to clear that up by calling each of my creditors showing on my credit report provided by the mortgage company and making an offer with them that if I could pay that day, what is the dollar amount they would offer me to pay off the debt. I also made the mistake of taking a hardship withdrawal from my 401K over $10,000. Yikes – I did not realize at the time that I would be paying a penalty for it on my taxes, even after having taxes removed from it upon disbursement. I also knew I had back taxes to clear up, so even before I applied for the mortgage, I set up automatic withdrawals from my checking account to the IRS, bi-weekly to go towards these. Apparently, this amount was not enough to satisfy the IRS and they filed a lien against my house. The tale gets bleeker…when I filed my taxes this year – because of the money I took out of the 401K and the moving expense check – this REALLY overinflated my income from last year and I owe an additional $5000 to the IRS. To top it all off – I cannot get a personal loan to pay off the IRS because the IRS shows on my credit report as a public record and one of the creditors I paid off, reported the payoff as a setlement.

So that is my sad tale of debt. I try not to let it get me depressed or discouraged. I am going through stuff I have at home that I just don;t need anymore and I put that on eBay. I’m also looking for a PT job – I want to get out from under this and start having my income all my own again!

Getting Started: The Financial Guide for a Younger Generation

Financial GuideIt seems like there are a million books about personal finance out there and almost every single one of the doesn’t speak to the demographic I’m currently in (and soon leaving in a few years). The reason for this is because there doesn’t seem to be much personal finance advice to give to someone who doesn’t have any personal finances. When you’re in college, the only piece of advice you really need is avoid credit card debt like the Black Plague and you’ll be okay. Study hard, don’t burn up too many brain cells, and avoid that credit card debt. So, when I was offered the chance to read Getting Started: The Financial Guide for a Younger Generation, I looked forward to it because it’s a book targeting that demographic or those within spitting distance. The author, Brian T. Jones, is a thirty-something Certified Financial Planner, sought to write a book that would be entertaining enough and engaging enough to capture the short attention span of the Gen X’er and Gen Y’er and I think he made an admirable attempt.

The book hits all of the salient, albeit basic, personal finance points that a book of its type must but it employs the use of examples and analogies that are very relevant to my generation. Here’s an example from his second chapter, focusing on Debt, where illustrates a trick that car salesmen use to entice you to sign up for more car than you need. While his example might be a little bit of a reach for his target audience, it’s a 2020 BMW x5, I think he did that for Wow factor. Saying it’s a Ford Focus just doesn’t have the same panache. So, the $74,500 sticker price car, after a $14,9000 downpayment, comes out to be a monthly payment of $1,332.42 on 3.5% financing for four years. That’s when the dealer says, push it to six years and up the interest rate a little (since it’s riskier), your payment is only $973.74. The monthly cost looks lower but ultimately that car will cost you over ten grand more. In this example, he goes on even more to explain why, in addition to the higher total cost, a longer loan is worse. For example, you could get into an accident in which your car is totaled and you could potentially not get the value of your loan back since the car depreciated faster than your payments. This leaves you upside-down on a loan, which clearly is bad. See how this is a basic personal finance point? The thing is, when you don’t know what you don’t know, it’s very nice to have something laid out so clearly with concrete examples you can (almost) relate to.

Jones also uses real life anecdotes from actual people (I don’t know how to verify this but I don’t know why he’d lie, there’s not really much of a point to doing that) to drive his points home. The Debt chapter has a few anecdotes of folks who pulled themselves out of debt, the marriage one has a few doozies (some involving kids), and almost every other chapter uses “Case Studies” to drive their points home and put a face to the points he’s trying to make.

Overall, I enjoyed the book and I think it would make a good stocking stuffer for a near or recent college graduate and it’s almost the holidays!

Who uses online cash advance payday loans?

If you consider yourself to be a modern citizen of a modern world, you have to know about online cash advance payday loans and how to avoid debt. Moreover, modern inhabitants tend to use such loans rather often. The necessity to use them appears when you feel you’ve got no free cash to spend at the market. When you encounter such problem you start analyzing your family month budget immediately and this analysis most often make you feel desperate.

That’s why people who take care of their health and nerves take some immediate actions, instead of staying upset till the nearest salary. The most logical thing to do when you are out of money is to borrow it. But of course we want to borrow money on advantageous terms. That’s why people who are aware of the most convenient and advantageous ways of borrowing money enter the Internet and borrow money online. They use online cash advance payday loans.

The recently conducted researches showed that the most frequent clients on payday loan websites are people, who of course have family and averagely paid job. They are not loan addicts however they might spend payday loan once or twice a year, during the most occupied periods in the year. By those I mean buying presents for holidays, going on a trip, repairing an apartment in spring, buying school equipment for children or winter clothes for a whole family.

The results of the researches also showed that the activity in payday borrowing has rose. The specialists say that this phenomenon might be caused by world financial crisis, which stroke each and every family around the world. We know rather well that in many countries wages have been cut sharply and greatly, that’s why people now use thirty-days loan more often. A lot of people have their houses at mortgage terms so they have to repay month payments to save their house in their own owning. But of course this is not the only reason.

The most significant reason is that online cash advance payday loans are very easy to get and convenient to use. Payday loan provider doesn’t influence on the way, you’ll spend borrowed cash. This means you can apply for a payday loan in any case. And of course the fact, that burning cash providers are very loyal to their borrowers plays also an important part in the borrowers’ decision making process.

These quick loans are aimed at people, who know how to treat money correctly. They are also aimed at people, who borrow money when they really need it and always repay their debts. This means that quick loan providers search for reliable and responsible borrowers as their clients. If you consider yourself as a trustworthy and answerable borrower, connect the Internet and apply for a quick loan!

Same day cash loans

Same day cash loans has made it very easy for all sorts of borrowers to get funds on the very same day. These are small term loans which do not require any collateral for approval. With these funds, you will be able to get fast cash for meeting your small term expenses.
Same day cash will be directly deposited to your account once you meet simple eligibility criteria. In this regard, you should be 18 years old. You must have an active checking bank account. Moreover, you should be presently working and earning at least $1000 per month. Right after meeting these terms, you will be approved in an instant.
Your bad credit records will no more affect the approval of same day cash loans. These funds are approved with the advantage of no credit check. For taking these funds, you can explore the World Wide Web. Online application will get these funds in an easy going manner!