by admin on April 25, 2010
The Tax Policy Center reports that Under current law, the 2001 and 2003 tax cuts nearly all expire in 2011, returning the individual income tax to its pre-2001 level (except for a few permanent changes). In defining the baseline for his budget, the president assumes that, rather than ending in 2011, the tax cuts will become permanent. From that baseline, he would increase taxes in 2011 for high-income taxpayers—couples with income over $250,000 and single people with income above $200,000.
The president proposes [click to continue…]
by admin on April 17, 2010
When you use a debit card it subtracts money from your checking account at the time of the transaction or soon afterward. When you use a credit card you pay for all your purchases at the end of the billing cycle.
One advantage of using a debit card is that it is much quicker to swipe a card than write a check. You eliminate the need to carry around a checkbook or carry cash with you all the time. It is also [click to continue…]
by admin on April 17, 2010
Frequent flyer programs allow you to earn certain travel benefits based on the number of miles (or occasionally the number of trips) you fly on a particular airline. Typical awards include a free ticket or a free upgrade from coach to first class. Some airlines also offer “elite” programs which provide check-in and boarding priorities, and “affinity” credit cards which earn mileage credits when you use them for purchases.
In order to earn these benefits you must become a member of that airline’s program; this can often be done through a travel agency. There is no limit to the number of programs you may join. Before deciding which program(s) to join, compare them carefully. You don’t want to get “hooked” on one program by accumulating a high mileage balance, only to learn that another program offers superior benefits for your particular situation. In making your decision you should consider:
* the rate at which credits are earned,
* minimum credits earned per flight (e.g. you are only going 200 miles but the airline always credits at least 500)
* whether you are most interested in free tickets for yourself, “companion tickets,” or upgrades,
* how much credit is needed for the awards you are interested in,
* deadlines for using accumulated credits (e.g., in some programs miles expire after three years),
* whether the airline serves the cities you would like to travel to, and whether it has tie-ins to other airlines (especially foreign carriers) and to hotels and car rental companies you would use,
* whether awards are transferable or for the member’s use only.
Each airline’s program carries certain conditions and limitations. You should carefully read the promotional material and the “fine print” booklet that the airline should give you when you become a member. Also, pay attention to notices that you receive in the mail after you enroll; they sometimes describe changes in the program.
Here are some other important considerations to keep in mind when comparing frequent flyer programs:
* Airlines reserve the right to make changes, often on short notice. This can include changes to the conditions and limitations and also to the awards and the rate at which awards are earned.
* Keep track of the mileage you have earned, and check it against the statement that the airline mails you. Keep your boarding pass and the “passenger coupon” portion of your ticket
* If the airline adds a new route after you enroll, especially an international one, you may be able to earn mileage on that route but not use awards there.
* Don’t plan to use an award immediately after earning enough credit for it. The airline needs time to credit the most recent mileage and then issue an award certificate or ticket.
* Availability of space on flights for frequent flyers is often treated in the same manner with many of the same conditions as deeply discounted air fares. This could include advance reservation requirements, blackout periods (generally during peak travel times, including holidays), length-of-stay limits, and limits on the number of frequent flyer seats on many flights (to as few as zero on some flights).
* If your award flight is canceled or greatly delayed, can you travel on another airline? If your own plans change after an award ticket is issued, can the ticket be used on another flight, or can the trip be canceled and the mileage re-credited to your account?
One special reminder: airlines often restrict the transferability of mileage earnings. Almost without exception, the sale (or even attempted sale) of credits or awards violates the provisions of the program and may result in the revocation of all accumulated mileage and/or termination of your participation in the program. However, awards can usually be given to others as gifts.
Persons who buy coupons also run a risk. If the airline suspects that the bearer of a coupon or ticket is not the party designated to use the travel document, the airline may refuse to honor it and may even confiscate it. In such cases, the airline invariably disclaims any obligation to the bearer of the coupon or ticket; the purchaser’s recourse, if any, would be with the seller of the travel document.
The Department of Transportation does not regulate airline frequent flyer programs. These are matters of individual company policy. If you are dissatisfied with the way a program is administered, changes which may take place, or the basic terms of the agreement, you should complain directly to the company. If such informal efforts to resolve the problem are unsuccessful, you may wish to consider legal action through the appropriate civil court.
Source : Aviation Enforcement and Proceedings
by admin on April 2, 2010
Came across an article from Yahoo! Author Jim Citrin titled Leadership by Example. Here are 7 key traits that he highlights:
- Start early.This is the part of your morning routine over which you have the greatest control. To fit it all in, it’s a must to start early. The latest any of the surveyed executives wake up is 6 a.m., and almost 80 percent wake up at 5:30 or earlier.
The early-bird-gets-the-worm award goes to Padmasree Warrior, chief technology officer for Motorola, who [click to continue…]
by admin on April 2, 2010
From the TurboTax Blog, The IRS estimates that as many as 20% of all Americans wait until the last 2 weeks of the tax filing season to send their return to Uncle Sam. That means there are a lot of people out there who still need to file, and you can bet there are even more questions waiting to be answered.
Examples of top taxing questions this year: [click to continue…]
by admin on April 1, 2010
The NY Times brings us some very simple yet effective tips to save money using what you have now and a few minutes of your spare time. Worth reading the entire article.
Last year, when The New York Times Company required us all to take 10 unpaid days off, I got the kick in the pants I needed to chase that savings by attacking my own list. I took one entire weekday to do things like signing up for a savings account with a higher yield and upgrading our household’s cash-back credit card.
While I didn’t quite make up all of the lost wages, the results were good enough that I decided to do a similar financial tuneup each and every year. I plan it for a weekday, when customer service departments are all open, though you could easily spread your tuneup across a couple of weeks of lunch hours.
So last week, I began anew, with tasks ranging from mundane items like switching the payment method on the landline bill to overhauling all of my family’s home insurance coverage.
How might you plan your own financial tuneup?
Today, we introduce an interactive checklist to give you some ideas. It includes things you should do each year, like rebalancing your investments, and others that you might have to do only once or, at most, once in a while, like raising your insurance deductibles. The checklist is a living document and one we hope to improve over time, so please send us feedback from the link on its home page.
And lest you think this is all drudgery, the tuneup period is as good a time as any to cash in all of your credit card rewards and frequent-flier miles. After all, they don’t get more valuable sitting around unused.
Not that many of you will need our help, as your own list of undone money tasks has probably been nagging at you for some time. Almost immediately after my first article about the tuneup concept ran last summer, I heard from readers who had set aside time to do their own.
Mare Swallow, a training and development consultant in Chicago, picked out a new primary credit card for her wallet. Out went the old American Airlines card, and in came the Southwest Airlines card. “I still pay a fee, but I get free flights so much quicker,” she said.
She also reported, with apologies, that a phone representative for this newspaper cut the price in half on her Sunday-only subscription. “The way I think of it is when I find a savings like that, it goes right into the phone bill or into the savings account,” she said.
A four-figure swing is possible in just a few hours, as Ryan Schneider proved recently. “I redid the cable package, got every channel that I wanted and got rid of some I hadn’t used in a year, and saved about $50 a month,” he reported.
His next move was to consolidate some brokerage accounts, moving away from one that had higher fees. That saved another $500 a year without any loss in service. “It was totally worth it, and it took an afternoon,” said Mr. Schneider, who runs the credit card business for Capital One and lives near Washington. “I think it was raining out.
