Solutions to Make Better Decisions with Your Money

Are You Uninsured? Find Out If You Qualify for a Health Insurance Penalty Exemption

Are You Uninsured? Find Out If You Qualify for a Health Insurance Penalty Exemption  - TaxACT

2014 is the first year that individuals in the U.S. may have to pay a penalty if they don’t have sufficient health insurance under the Affordable Care Act.

If you have minimum essential coverage through your employer or that you’ve purchased on your own or through your state’s marketplace, you likely don’t need to worry about this penalty.

If you’re uninsured for three or more consecutive months in 2014, however, it’s important to know how much the health insurance penalty, also known as individual responsibility payment, is, and whether you may qualify for an exemption.

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Answer These 6 Questions before You Co-Sign a Loan for a Family Member

Answer These 6 Questions before You Co-Sign a Loan for a Family Member - TaxACT

What's the simplest answer to whether you should co-sign a loan for a family member? "No." That's what all too many co-signers wish they had said when they were asked to co-sign a loan, even for an adult child or a parent. Co-signing a loan … [Continue reading]

Read This Before You Let Your ACA Plan Autorenew for 2015

ACA Plan Autorenew for 2015 - TaxACT

If you are enrolled in a health insurance plan you purchased through the Affordable Care Act exchanges (or marketplaces), your plan is set to autorenew this fall. You don't have to do anything extra to keep your policy in force for 2015. That's … [Continue reading]

How to Update and Correct Your FAFSA before It’s Too Late

How to Update and Correct Your FAFSA before the Deadline - TaxACT

Submit any necessary corrections to the student aid application FAFSA before the deadline this fall. If you filled out the FAFSA (Free Application for Federal Student Aid) earlier this year to apply for student aid, there's a good chance you need … [Continue reading]

Something You Need, But Hope to Never Use

Something You Need, But Hope to Never Use; Life Insurance - TaxACT

What is it that you really need, but you hope to never use? It’s life insurance, of course. September is National Life Insurance Awareness Month and it’s a good time to discuss this important tool in our financial first aid kit. We want our … [Continue reading]

4 Money Mistakes Millennials Make

4 Money Mistakes Millennials Make - TaxACT

Ever kick yourself for not planning ahead financially or for making purchases you later regretted? You’re not alone. It’s easy to make a few missteps when you’re first starting out and still learning how to stick to a budget. Although there … [Continue reading]

5 Ways to Avoid Bumping Your Income into a Higher Tax Bracket

Ways to Avoid Bumping Your Income into a Higher Tax Bracket - TaxACT

What can you do to avoid paying higher tax rates when you have a year with more income? If your income level fluctuates from year to year, you may find yourself paying more than you expect at tax time. That’s because when you have higher … [Continue reading]

5 Money Lessons for Millennials Other Generations Can Learn From

5 Money Lessons for Millennials - TaxACT

Generation Y has been called lazy, entitled know-it-alls. But the harsh reality is that this generation also graduated into one of the toughest job markets with some of the highest student loan debt, so they’ve had to be scrappy to find their … [Continue reading]

Understand These Tax Breaks When Buying a Home

Tax Breaks for Homeownership - TaxACT

Buying a home can help lower your tax bill. In fact, tax breaks for homeownership are a primary motivation for many people to buy their own home. To make sure you get the maximum benefit from your home purchase, however, it's important to … [Continue reading]

What Babies Really Cost and How to Set a Budget

What Babies Really Cost and How to Set a Budget - TaxACT

When my husband and I first got married, we had an instant family of four with his two daughters as my “bonus” babies! Then we added five more children in the first seven years of marriage. So I know a thing or two about economizing when it comes … [Continue reading]

4 Tips on How to Improve Your Credit Score

4 Tips for How to Improve Your Credit Score - TaxACT

Your credit report and credit score are two of the most vital measurements of your financial health. Tweet this Properly caring for them puts you in the position to save thousands of dollars during the course of your life. Why? Because your … [Continue reading]

6 Do’s and Don’ts for an Energy-Efficient Home

Energy-Efficient Home - TaxACT

Fall is coming, and with it higher energy bills. You're on the right track if you're already thinking of ways you can save money this winter. Not all measures you can take to have an energy-efficient home are equal, however. Here are some do's … [Continue reading]