Combining Education Tax Benefits?

If you are thinking of going back to school but dread the prospect of having no income for 2-5 years, I have at least two reasons to look forward to returning to the classroom. Previously MUYF has discussed the value of investing in qualified tuition plans to pay for further studies.  Also known as 529 [...]

Business Negotiations – Not Just for the Board Rooms

Be it recession or not, you should always try to negotiate with any service providers you use (such as cell phone, cable, internet, or car rental companies) and ask to waive or reduce any fees that you found superfluous.  For example, I usually ask my cellphone provider to waive the activation fee each time I [...]

How to Own a Piece of the US Government’s Debt

With the instability of the market – predicted to last for at least another few months, but more likely longer – more and more people are turning to Treasury securities to protect their money.  While T-bills, notes, bonds, and the newer TIPS (Treasury Inflation-Protected Securities) carry low interest rates relative to the market, they are [...]

The Score That Really Matters

While your SAT, GRE, GMAT, MCAT, or LSAT scores will cease to matter once you have graduated from college or graduate school, there is one score out there that will follow you the rest of your life: your FICO credit score.  This number is used by various parties,  from prospective landlords and employers to institutional lenders to insurance [...]

Amtrak Extends Northeast Summer Deal into the Fall

Two months ago, we wrote about Amtrak’s summer sale for travel in the Northeast corridor.  With the 25% discount offered, taking the train became a slightly more accessible option, with a one-way New York – DC trip going for $49 and Philadelphia- New York going for $34.  This deal was due to run out just [...]

Bring the Picnic Blanket: This Weekend, Last Call for Free Visits to National Parks

Visiting a national park is among one of the cheapest day-long recreational activities available, but this weekend it will be even higher up that list.  August 15-16 is the last of three summer weekends in which the National Park Service will be waiving entrance fees for over 100 national parks around the country.  Participating parks [...]

Tax-Deferred Plans for the Self-Employed: sometimes it is nice just knowing you have the option

In general, we believe that, if your employer does not match your contributions to a 401(k), a Roth IRA is a better option.  It can move with you as you switch employers and grows tax-free.  Whether you are employed or self-employed, you may open and contribute to a Roth IRA as long as you have [...]

The Right Way to Get Your Credit Report

If you haven’t reviewed a copy of your credit report, perhaps now is the time.  The Fair Credit Reporting Act guarantees each person access to a free credit report from each of the three credit bureaus (Experian, Equifax, and TransUnion) every twelve months.  Make sure, however, that you get your credit history from AnnualCreditReport.com, because [...]

DC Offers Assistance to Homebuyers, Too

As state governments try to bolster their housing market, new credit incentives and housing assistance programs are emerging left and right.  These go along with the federal first-time homebuyer’s tax credit, and usually give priority to state residents.  This past weekend Bob Tedeschi wrote in the NY Times about the new program offered by the [...]

The Quick & Dirty Guide to Paying Taxes on Foreign Income

If you are a U.S. citizen and have landed a job overseas, you still have to pay U.S. income taxes but you will be eligible for the Foreign Earned Income Exclusion.  In order to claim this tax benefit, (1) your main place of business or employment must be in a foreign country, (2) you must have earned [...]