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If you still do not understand the uninsured penalty that will be imposed on people with no health insurance next year under Obamacare, you are not alone.  The news is full of stories about how the Affordable Healthcare Act is not working; however, very few have tried to explain, in simple terms, how the tax penalty works.  For example, the tax penalty will not apply to everyone.  For others, having a health insurance policy that provides “minimum essential coverage” will avoid the … [Read more...]

Bidding wars are becoming popular in many real estate markets as buyers try to get the best deal on the best homes.  However, sometimes a bidding war can result in the buyer overpaying for the home and realizing it too late.  In a cash situation where you may not be required by a lender to obtain an appraisal, if you are caught up in a bidding war that you are determined to win, you may not realize that you are overpaying for the home.  A professional realtor should warn you when your bids are … [Read more...]

With the holiday season upon us, more people will be on the roads traveling for the holidays.  Speeding to get to grandmother’s house before dinner may be tempting; however, remember when traveling through other states you are dealing with their laws.  Law enforcement will be stepping up their efforts to control holiday traffic and that includes issuing more tickets for speeding.  If you are stopped for speeding and the officer issues a ticket, you may not be stuck paying the fine.  There are … [Read more...]

Planning for the future is important for everyone; however, for single parents it is vital so that you and your children remain financially secure.  Even though it is not something you might want to think about, you should begin with estate planning.  Consulting with an estate attorney will make sure that you have everything in order and that your wishes are carried out.  Saving for college, retirement and emergencies must be balanced with paying current bills and expenses. For more financial … [Read more...]

Businesses are lobbying the IRS to reduce the amount of information that they must collect and report to the IRS under Obamacare.  The IRS needs as much information as possible to enforce penalties for non-insured individuals and is using employers to gather and report that information.  Information that must be reported includes the birth dates and Social Security numbers of employees’ children.  Businesses allege that reducing just some of the information required to be reported would help … [Read more...]

With the holidays approaching, retailers are hiring extra employees to work during the frantic holiday season.  As customers increase, the number of employees on hand needed to help those customers also increase.  Moreover, with more retailers staying open on holidays, employees are required to work.  Unfortunately, there is no federal law that prevents an employer from requiring an employee to work on a holiday even though most employers do try to work with employees to provide some time off … [Read more...]

Coaches are becoming increasingly popular as people seek help with every aspect of their lives from careers to money and weight loss.  Some life coaches specialize in money and finances to help people identify problems and find workable solutions.  Money coaches, unlike financial planners, look at the bigger picture to see how money affects your life and help you identify areas that need work.  Make sure that you check the coach’s training and experience before choosing a coach to work with your … [Read more...]

Bankruptcy is sometimes the only option that a person has when they are drowning in debt that he or she is unable to pay.  Unfortunately, when a parent files bankruptcy it can have an impact on his or her child’s college financing.  Parents are not eligible to borrow money for college tuition from the PLUS loan program for at least five years and it could be seven years or more before they would qualify for a private loan.  For undergrads, parents that are denied loans through PLUS may get more … [Read more...]

Our parents are the ones who cared for us and made sure that all of our needs were met growing up, including teaching us about personal finances.  They taught us how to pay our bills and manage our money.  Unfortunately, there may come a time when you must help your aging parent as they struggle to pay their bills. Because many parents want to remain as independent as possible, they may not ask for help so be aware of the warning signs that parents need help with finances.  Talk to your parents … [Read more...]

Laws exist to help property owners protect their property from trespassers.  As a property owner, you have the right to keep trespassers off your property; however, you must be careful that your efforts never cross a legal line.  First, you must legally notify people not to enter your property.  A no trespassing/no entry sign is usually effective.  Fences and cameras are also good deterrents to would be trespassers.  If someone does violate your privacy, you should contact the local authorities … [Read more...]