Personal Finance and Investing

The tax season is here and this is the time of year consumers can expect to hear terms like “tax settlement specialist”. According to the advertisements this is someone who can help you settle a tax debt for pennies on the dollar. If the image of a snake oil salesman comes to mind, you would be pretty close to the truth.

Just because someone uses the word “tax” in their advertisement does not mean they are legitimate. In the minds of many consumers, no one would claim to serve as an intermediary between them and the Internal Revenue Service unless the company is honest and legitimate.

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Applying for a credit card involves more than looking for the best interest rate. In fact, it is often the other terms and conditions on the credit card that make the most difference when it comes to managing your credit.

Your credit card can be incredibly valuable, or it can be incredibly detrimental; in other words, your credit card is only as useful as the behavior that accompanies it. And that means starting with a good understanding of your credit card and the important terms to study when applying for a credit card.

1. Annual percentage rate – The annual percentage rate on a credit card, otherwise known at the APR, is usually the best place to start when comparing credit cards. P

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How would you like to be able to give your child or grandchild £1.8m for their retirement? Well, with a little financial planning, you can.

Mention pensions and many people think immediately of old age. But in fact you can start saving for your retirement from the day you are born. About 60,000 children have pensions, according to HM Revenue & Customs, and the number is increasing as more families who can afford to lock up their money for 50 years or more take advantage of the tax breaks.

So, how can you make your child a pension millionaire? Pension rules state that you can start a pension pot for a child immediately after they are born, even if you are not related.

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As soon as tax season approaches the advertisements for Rapid Tax Refunds appear. They sound so simple up front: Get assistance filing a tax return online for a fee and the company will even loan you the money up front equal to the estimated refund. What a deal! Or is it?

It’s not much of a deal at all in the opinion of most state government officials charged with consumer protection. The loans being offered go under a variety of names including fast cash refunds or instant refunds. Officially they are referred to as refund anticipation loans (RALS). <

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