Open Season to Get Some Tax Savings

The annual open enrollment period is upon us once again.  Over the past and in the coming weeks, you should receive information packages from your employer on your benefit enrollment options and instructions for this year.  Now is the time to evaluate the benefits you have and decide which to keep, change, or remove.  The [...]

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 [...]

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 [...]

An Added Benefit for Biking to Work

If you ride your bike to work or are thinking of doing so – be it for your health, to save money, as a hobby, or any other reason – you may be able pick up a tax break along the way.  As of January 1 of this year, qualified bicycle commuting reimbursements of up [...]

Benefits of Pre-tax

For those who are starting their first job and trying to wade through the mountain of papers from HR on benefits, may I point your attention to two really great pre-tax benefits. Transportation Reimbursement Incentive Program – You can elect to contribute pre-tax dollars from your paycheck for any commuter expenses.  As of March 2009, [...]

Burn the Fat, Not the Cash

The recessionary lifestyle has led many folks to trim the gym membership from their budgets.  But it is precisely now that everyone should focus on preventative care and stay as healthy as possible, because it doesn’t take much more than a trip to the emergency room to drain your rainy day fund.  And while most [...]

Take Advantage of Your Corporate Credit Card

When I first started working, my firm gave me a corporate credit card from Diners Club, to which I can charge business expenses, such as plane tickets, overtime meals, and taxi cabs.  Over the past the three years, however, my corporate credit card has been my primary credit card.  Here are the reasons why: Two month [...]

You Can’t Afford Not to Match

By “match,” I am not talking about your work outfit (although that goes without saying). I am talking about your employer’s matching contributions to your 401K.  401K  (so-called because of the section of the Internal Revenue Code that governs such plans) is a type of retirement plan that allows individuals to contribute pre-tax dollars to [...]