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Three Detailed Income Strategies for Retirement

by Flexo

Earlier this week, I reviewed common financial rules of thumb and offered a quick evaluation of how each rule would likely perform if accepted by an individual as the final word. One of these was the rule that convinces retirees they will be financially secure if they withdraw 4 percent of their nest egg for income ... Continue reading this article…

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Roth IRA Conversion

by Flexo

The option to convert a Traditional IRA to a Roth IRA has been around for a while. Here are the differences between a Traditional IRA and a Roth IRA for those new to these retirement accounts. As long as your modified adjusted gross income (MAGI) is under $100,000 you have qualified for this conversion. Contributions ... Continue reading this article…

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One-Third of Home Loans are Under Water

by Flexo

A few years ago, a coworker formed an investment partnership in speculative real estate. He promised investors a 10 percent annual return and was using the capital to invest in Florida real estate, earning 15 to 20 percent overall. As most of the real estate had not even been inhabited or built yet, the investments ... Continue reading this article…

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How to File an Amended Income Tax Return (Form 1040X)

by Flexo

This article refers to an earlier version of Form 1040X. Some instructions may be slightly different depending on the form revision the IRS now has available. If you have filed your taxes for the most recent year but would like to take advantage of a new credit, such as the $8,000 first-time home buyer tax ... Continue reading this article…

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4 Important Tips for Graduates Beginning a First Real Full-Time Job

by Flexo

The summer following graduation is an interesting time for recently-former students. The newly-commenced young men and women, those not opting to pursue an additional number of years in an institution of higher learning, spend their time amongst activities such as attending backyard barbecues in celebration of their achievements, traveling to distant lands with newfound free ... Continue reading this article…

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Extending the $8,000 First-Time Home Buyer Credit to $15,000

by Flexo

Update: The first-time home buyer tax credit has been extended and expanded. Click here for the latest details. The information below is now out-dated. The Senate is considering a number of changes to the $8,000 first-time home buyers credit. Spurred on by Sen. Johnny Isakson from Georgia, the adjustments being considered seek to expand the ... Continue reading this article…

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IRS Now Accepting Tax Returns Claiming $8,000 First Time Home Buyer Credit

by Flexo

Earlier today, the IRS officially began accepting 2008 electronic tax returns for individuals claiming the $8,000 tax credit for qualifying first time home buyers who purchased a house in 2009. If you qualify and have purchased your home this year, you can now file your taxes using TurboTax, TaxAct, H&R Block, or any other software ... Continue reading this article…

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Personal Balance Sheet and Net Worth, February 2009

by Flexo

Over the course of February, my “modified net worth” grew 7.5 percent despite yet another unremarkable month for the stock market. As of the end of the month, my bottom line — a variation of net worth — surpassed $200,000, but was still below my original goal for December 31, 2008. Every month, I post several ... Continue reading this article…

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