Friday, April 3, 2009

Get you Forever Stamp

There will be a postal price increase on you first class postage stamp on May 12th. The current price of a stamp is .42 cents., the increase will be .02c cents, for a total of .44 cents.

You may avoid these increases by buying a forever stamp.

On February 11, 2008, the United States Post Office announced that postal rates will increase again in May 2008. The price of sending a first class letter last increased on May 14, 2007.

Typical costs:
Until May 12, 2008, the cost of sending a first class letter (up to 1 ounce) costs 41 cents. Each additional ounce adds 17 cents, so the price to send a typical 2 ounce wedding invitation is 58 cents.
On May 12, the cost of a first class letter will increase one cent to 42 cents. However, a "Forever" Stamp purchased before then can still be used to send a first class letter. The United States Postal Service has 5 billion 41 cent forever stamps in stock in anticipation of the increased demand before the rate increase.
Sending a postcard will also increase by a penny from 26 cents to 27 cents.
Sending a Priority Mail envelope or letter up to 1 lb currently costs $4.60. Priority Flat Rate Boxes cost $8.95. The Post Office has not yet provided the new rates for Priority Mail.
Details on the new postal pricing in 2008 are available at the US Postal Service website.

Thursday, April 2, 2009

Tax Season Is Upon Us

Cut your tax bill by up to $1,000 for each qualifying child.
Once modified adjusted gross income (MAGI) exceeds $110,000 if Married Filing Jointly, $55,000 if Married Filing Separately and $75,000 for all other filing statuses, the credit amount decreases by $50 for every $1,000 (or fraction of $1,000) it exceeds the limit.
If your credit is limited by your tax and your earned income is more than $8,500, you may be eligible for the additional Child Tax Credit. You also may be eligible for this credit if you have at least 3 eligible children and the Social Security and Medicare tax you paid is more than your Earned Income Credit. What is the Child Tax Credit?The Child Tax Credit is a credit worth up to $1,000 for each qualifying child. If you have 4 children, the credit can cut your tax bill by up to $4,000. Remember, a credit offsets your tax bill dollar for dollar. A child must meet 5 criteria for you to receive child-related tax benefits. He or she:
must be your son, daughter, stepchild, foster child, brother, sister, stepbrother, stepsister or a descendant of any of them
must be younger than 17 at the end of the year
must not have provided more than half of his or her own support
must live with you more than half the year
must be a U.S. citizen, U.S. national or resident of the U.S.Note: Beginning with the 2009 tax return, the child must be your dependent and the child must be younger than the person claimingthe credit.Child Tax Credit for Individuals with Higher IncomesThe Child Tax Credit is available regardless of your filing status. However, your credit is reduced if your modified adjusted gross income (MAGI) is more than:
$110,000 if Married Filing Jointly
$75,000 if Single, Head of Household or Qualifying Widow(er)
$55,000 if Married Filing SeparatelyFor every $1,000 (or fraction of $1,000) your MAGI exceeds the trigger point, you lose $50 of credit. For example, if you file a joint return and your MAGI is $115,000, the extra $5,000 exceeding the limit would reduce your creditby $250. So if you have only 1 qualifying child in 2008, your credit would be $750. If you have 3 qualifying children, your credit would be $2,750 ($3,000 minus $250).Additional Child Tax CreditThe Child Tax Credit can't reduce your tax below zero. However, if your Child Tax Credit is limited by your tax, you may be eligible for the additional Child Tax Credit, even if your tax liability is zero. You may be eligible if:
your taxable earned income is more than $8,500 (for 2008)
you have 3 or more eligible children and the Social Security and Medicare tax you paid is more than your Earned Income Credit If you qualify, you'll need to file Form 8812

Get you Credit Report for FREE

Looking to get your credit report free? There are many offers out there that say you can get it for free, however there are many hidden charges.

It is a federal law that you may receive a free credit report annually. That web site address is:
March’s Economy Busting Source of Ideas:

1) Did you know that you could dial the information line for free? This can be from either your land locked line or cell phone. I don’t know about you, my cell phone company charges me 1.25 a pop. This is promoted through it is 1-800-goog-411. It’s FREE (They have nearly all local & national businesses)

2) Here is a great way to save money, as well as doing your part to save energy. Sign up for the “Saver’s Switch”, with Xcel Energy. This helps manage short-term spikes in demand for electricity on extremely hot days. It is easy, Xcel comes out and puts a devise onto your air conditioner. This not only will help you save on your electricity bill, but they refund you a total of $40.00 on your October bill.

Economy Busting Source

Economy Busting Source

This column will be dedicated each month for Economy ideas or suggestions to save money and time.

Here some examples:
-Best price in town for gas?
-Coupons from the best web sites or periodicals?
-Special deals on commodities, such as cars, computers etc., big or small ticket items
-Inexpensive and time saving recipes
-Is your company offering any good sales etc.?
-Do you know of any buy one get one free? Pulling together monies w/someone that may be interested in the same item.
-Would you like to promote your goods and services, that are competitive or below market prices, w/specials etc.? (We will make room in this column for you)
-Exchanging services - etc.; an oil change & tune up for 2 hours worth of house cleaning.

We look forward to hearing your suggestions.