Four Ways IRS Can Pay You to Drive Your Car

While President Obama paying electric bills turned out to be false, despair not, IRS will really pay you to drive your car... sometimes!

With proper documentation, operating a car or truck for business, charitable, medical, or moving expense purposes can generate deductions that lower taxes and earn many taxpayers gas money (and more) from the IRS.

Read more @YahooFinance: First Person: 4 Ways the IRS Can Pay Me to Drive My Car

A Winter Disaster Inventory

Mother Nature may have spared us from total Armageddon, but that doesn't mean the next winter blizzard or snowstorm is not around the corner.

Thanks to a week without power following Hurricane Sandy, I now know what I should stockpile to survive a few days without modern comforts like electricity or heat. I will never be a "prepper" since I do not believe any amount of stockpiling will help me if doomsday arrives, but I like to be ready should a snowstorm knock out my power in winter.

Here are some extra items from my winter disaster inventory, which consists of my actual purchases from Hurricane Sandy, as well as some wishlist items that I have now stocked. These are meant to complement the list found on ready.gov and my general pantry and kitchen items.

Read more on Yahoo Finance: First Person: Pricing My Winter Disaster Inventory

PS: A huge thank you to @YahooFinance for retweeting my article on Dec 27!

7 Smart Year End Financial Moves to Lower 2013 Taxes

 

Since I itemize on my federal and state tax returns, I make year end financial moves to maximize my tax deductions and lower my out of pocket costs. 2012 is especially important, given the looming fiscal cliff and changes to health care rules. Here is what I am doing.


Read more @ Yahoo Finance: First Person: 7 Smart Year End Financial Moves to Lower 2013 Taxes

5 Dumb Places to Buy Food

Whether it is a late night snack in a hotel room, a restaurant in a touristy town, or that place with the Groupon deal, there will always be some really dumb places to buy food.

Here are some places to avoid when you are food shopping. Not only are they bad for your wallet, they may be harmful for your health as well.

Read more on Yahoo Finance: First Person: Buying Food in All the Wrong Places



Photo courtesy: sxc.hu

How to Be Charitable Without Spending a Dollar Out of Pocket

When it comes to charitable donations cash may be king, especially ahead of the fiscal cliff. Yet, there are many ways to be charitable without spending a dollar. Here are some non cash contribution ideas and IRS guidelines.

Read more @ Yahoofinance: First Person: Being Charitable Without Spending a Dollar Out of Pocket

More charitable contribution articles:

My Investment Approach Toward Charitable Giving
First Person: Working for Free Worked for Me
First Person: Charity or Scam?




Photo: sxc.hu

Winter is the Time to Spring Clean

While fixing up the house can wait until spring, winter is a great time to clean my closets and pantry. I am giving away coats, clothes, shoes, canned goods, travel toiletries, even Tupperware.

It makes room in the house for new items during the Christmas season, makes friends and family happy, and even gets me a tax deduction. Read more on Yahoo Finance:

First Person: I Spring Clean Before Spring

Economics 101 and my Christmas Tree

According to American Research Group, the average American wil spend $854 on Christmas gifts in 2012. How much should they spend on a Christmas tree?
When it came to buying my tree, I asked myself...

Real or fake? Big or small? Pine or fir? Pre-lit or not? Local nursery or big box retailer? Buying my Christmas tree was an easy decision once I applied what I had learned in Economics 101. These lessons guide all my purchases and keep me from overspending.

Read more on Yahoo Finance: First Person: The Economics of My Christmas Tree Purchase

Fiscal Cliff? I Am Worried About Stealth Healthcare Tax Increases

While the debate about the fiscal cliff rages on, not many people are talking about the stealth tax increases in healthcare expenses. I have witnessed them since 2011, when under ObamaCare provisions, OTC medications started requiring a doctor's prescription for FSA reimbursement and a 20% penalty for the use of a health spending account to pay for non-qualified expenses was introduced. They are getting much worse in 2013.

Read more on Yahoo Finance: First Person: Fiscal Cliff? I Am Worried About Stealth Healthcare Tax Increases


Photo: sxc.hu

Is Money Hiding Around You?

All over America, times are tough, and finances are tight. Of course, my family could cut back our expenses and save a little more. But before that, I am looking for easy savings and am finding some hidden money that will add to our bottom line.

Read more on Yahoo Finance: First Person: 6 Ways of Finding Hidden Money

Photo courtesy: sxc.hu

Beware of Toys with Hidden Costs

So your daughter wants an American Girl doll for Christmas. And your son wants an iPad? You want to keep them happy so your stretch your budget for the perfect toy for the holidays.

Its just the beginning of what will be a spending cycle. Beware of toys with hidden costs that will bust your budget down the road. Read more of my Yahoo Finance article:
First Person: Toys That Come With Hidden Costs

Photo courtesy: Julosstock/sxc.hu

Do I Need Five Emergency Funds?

Hurricane Sandy has taught people from New York and New Jersey that not only is it crucial to have an emergency fund, but it is also important to save money in a few liquid, and often tax advantaged, emergency funds for different purposes. Being an avid saver, here are some savings accounts I am considering using for 2013. Surprisingly, some of these accounts are usually not thought as emergency accounts, but they are!

Read more of my Yahoo Finance article: First Person: Trying to Save in Five Emergency Funds

Photo: sxc.hu