Tax Prep Tips for the Procrastinator

This post is for the millions of Americans who wait until the final days to prepare and file their federal income tax returns. I am one of them, although strategically so. I haven’t received a refund in years, so I run a preliminary income tax obligation assessment in the beginning of December. Using that, I adjust my withholding from my final paychecks of the year, to make sure that I don’t incur an under-withholding penalty. After that, I periodically add data to the return as year-end statements are received. But I don’t finalize and file the return until the last day, because I am in no hurry to send the final installment on the sickening amount of taxes the government extracts from Mr. and Mrs. ToughMoneyLove. Read more

Please Vote Again to Support My Charity

Inflation and Consumer Debt: Truth and Myth

Personal finance writers frequently comment on how inflation will affect the average consumer. This topic has received a lot of attention in recent months (including here on Tough Money Love) as our government pours money into the economy. Our central planners have openly conceded that inflation must be a secondary concern until negative employment and GDP trends are reversed. Read more

Wall Street Oligarchy: Read All About it

My brother (a really smart guy and a dedicated gold investor) sent me link to an article that will be published next month in The Atlantic. The article is called “The Quiet Coup” and was written by Simon Johnson, an MIT professor and former chief economist at the International Monetary Fund. It describes how the entrenched power structure in the Wall Street financial world – the oligarchy – has had a stranglehold on our economy and on our government, even to this day. Read more

China is Kicking Us While We are Down

By now I’m starting to think that Tim Geithner, a man clearly in economic waters that are over his head, is walking around with a “kick me” sign on his back. Boy is he getting kicked, and by some very large feet. Read more

My Life as a Volunteer Tax Preparer – Week 8

This week’s edition of my experiences in the AARP Tax-Aide volunteer’s office will be somewhat abbreviated. Recent demands of my paying job are extending the Mr. ToughMoneyLove work day at both ends. Read more

Dodging the Parental Boomeranger

“What goes around, comes around.”

How many times have you heard that phrase used as a subtle threat or reminder of another’s misbehavior?

Boomeranger.

That’s a word that baby boomers invented to label – in a semi-demeaning sort of way – adult children who return to their parents’  home to escape the realities of their own financial problems. (I actually don’t think that all boomerangers should be demeaned, but that’s another topic for another day.) Read more

How Much Can You Afford?

When considering a purchase of goods or services, how many times have you asked yourself “How much can I afford?”

Or do you subconsciously avoid the question and go with a gut feeling?  That feeling is usually wrong. But you subconsciously knew that as well, didn’t you? Read more

Please Vote to Support My Charity

Please  take 15 seconds to vote online for one of my older posts.

The Free Money Finance blog is running a “March Madness” competition where different PF bloggers submit a favorite post that is matched up against others. Readers are asked to vote on one of the posts by leaving a comment.

The winner is a charity designated by the winning blogger. My charity is Saddle Up, a program that teaches children with disabilities how to ride horses. It is a wonderful program where my wife is a volunteer instructor. They could use the extra money that my winning post would give them.

My entry “The College Student Debt Machine: A National Disgrace” has won rounds one and two and is now competing in the Sweet 16. 

You can vote by visiting the competition page and leaving the word “disgrace” in a comment. Voting ends Wednesday morning.

Thanks for your support.

Making Home Affordable Arrives Late to the Accident Scene

The government has launched a new website – MakingHome Affordable.gov – intended to help existing homeowners find out if they are eligible for government help with their mortgage.

The site title – Making Home Affordable – is catchy isn’t it? And so ironic. I’ll explain. Read more

Next Page »