Personal Finance and Investing

Christmas is an expensive time and many people end up hitting their credit cards more than they meant to. While debt of this kind can be quick to rack up, it often takes much longer to repay.

Those on standard credit card deals will therefore often end up paying double-digit interest on the debts they have built up over Christmas for months afterwards – adding to the cost of their celebrations and presents.

Fortunately for those whose cards have taken a battering over the festive period, there are several balance transfer deals available just now that should allow them to pay off the debts at a much cheaper rate.

Peter Harrison, credit card expert at moneysupermarket.com, said: “The majority of people with large credit card debts would be better off if they switched to one of the balance transfer deals available.

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One of the main reasons why exchange traded funds have gained so much ground in the recent past is owing to the fact that they are extremely tax efficient. In most cases the dividend distributed by exchange rate of funds are tax free because the corporate tax has already been deducted prior to paying dividend. Exchange traded funds only have one tax issue. This is when consumers sell their funds. If the funds sold at a profit consumers are liable for capital gains taxes.

If you are self-employed, you will have to attach a Schedule C to your 1040 form. You will also need to compute your self-employment tax on a 1040 Schedule SE. You have to pay this tax if you work for yourself and your net earnings are $400 or more.

Net earnings include profit from a farm or non-farm business. If you own more than one business, your self-employment tax is based upon the net earnings from combining all of your business profits. The benefit of owning more than one business when filing this tax is that a loss from one business reduces the income from another. It is the full share of Medicare and Social Security taxes against your income.

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The ONLY way to take back America from the bankers:

CIVIL DISOBEDIENCE

Ann Minch has guts and she doesn’t hold back:

“You are evil, thieving bastards….  Stick that in your bailout pipe and smoke it.”

A reporter sent me the link to the Huffington post article, thanks! 

Debtor’s Revolt: Woman Refuses To Pay Off Bank Of America Credit Card (VIDEO)

… Minch said she hadn’t been paying much attention to her account—she didn’t even notice when her interest rate went from 12.99 percent to 25.49 percent in January—but that the more she read about the $700 billion bank bailout, the angrier she got. Still, the decision

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