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When Do I Get My Tax Documents?

BudgetBoy — Mon, 15 Feb 2010 11:16:28 +0000

Now that tax time is upon us, people tend to get into a frenzy when they haven’t received their tax documents from their employer, bank, etc. Here are some details to let you know if and when you should be receiving them:

W2: Your employer should have sent you this form by February 1st. That is the mandated date by the government. If you have still not received one be sure to contact your HR department.

1099-INT: These documents are provided to you by financial institutions where you have received interest. Most people will receive these from banks where their accounts are provided. Note that you will not receive a 1099-INT from a bank where you did not accumulate more than $10 worth of interest. 1099-INT documents should arrive at your home by February 1st.

1099-DIV: This document is sent out by brokerages where you have bough and sold stock. These show the dividends/losses you incurred during the year. In just the past few years, they have extended the date when you are to receive a 1099-DIV by 15 days, so you should receive it by February 15th.

1099-R: If you took rolled over a tax free retirement account to an IRA, or took a disbursement of cash, you will be receiving a 1099-R. This should arrive by February 1st.

1099-MISC: If you did any side work or made any money from a job where taxes were not deducted, you will get a 1099-MISC from the employer that paid you. You only get one if the dollar amount was larger than $600 for the year. There is a lot of debate as to whether or not you need to claim amounts less then $600 since a 1099-MISC was not issued. My advice is to better be safe than sorry and do it! This should be received by February 1st.

Those are a list of the common tax forms that people will be receiving for the 2009 tax year. Before you meet with your accountant or sit down to do your taxes via TurboTax or any of the other online tax providers, make sure that you have accounted for all your forms for all of your accounts. This will just save you time and hassle later by having to file an ammended return.

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$.99 Domain Registration at GoDaddy.com

BudgetBoy — Thu, 17 Dec 2009 11:36:21 +0000

GoDaddy has a promo going where you can register or transfer a new domain name for $.99.

All you need to do is to go to GoDaddy.com, add a domain name to your cart, and enter the promo code BUYCOM99

According to their small print, there are only 7500 of these available so if you want to get a domain name now for later use, now is the time to do it.

Go Daddy Offer Small Print:

Applies to the first year only of new or transfer registrations. This offer may not be used for renewals, bulk registrations, premium domains or Sunrise/Landrush domain registrations. Limited to one order per customer, expiring after 7,500 redemptions or on December 29, 2009 (whichever comes first). Discount will be reflected in your shopping cart; cannot be used in conjunction with any other offer or promotion. Customers may not use gift cards or PayPal® to redeem this offer.
* Plus ICANN fee of 18 cents per domain year when applicable.

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$4 GoDaddy Domain Registrations or Transfers

BudgetBoy — Mon, 30 Nov 2009 13:18:08 +0000

Today only (11/30/2009), GoDaddy.com is offering new $4 Domain Name registrations of transfers. You nust use promo code: cjcBLACK09 during checkout. There is no limit on the number of $4 domains you can register or transfer. This saves you $6 on their normal price of $10.

The $4 price applies to any new registration or new transfer on any available .COM, .US, .MOBI, .BIZ, .NET, .ORG, .CA, .CO.UK and .IN domain. Applies to the first year only of new or transfer registrations. Limited number of redemptions available.

This is a great deal for those of you wanting to register more domains. Essentially today you are getting 2 for 1!!

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Free MP3’s From Amazon.com

BudgetBoy — Tue, 24 Nov 2009 11:45:38 +0000

You can get $3 worth of Free MP3’s from Amazon.com during their limited holiday promotion.

Just add $3 worth of MP3’s to your shopping cart, click the “Buy Button” then enter the promo code: MP34FREE. You must redeem the code by November 30, 2009 11:59 PM PST

If you have never used Amazon’s MP3 store, all their MP3’s are not DRM protected, meaning the file you download can be played on any MP3/Digital Audio player for as long as you want and on as many players as you want. Another thing I like about Amazon’s MP3 store is you can simply just download the audio file. No software to install or anything. Just simply buy then click the “Download” button, very clean and easy.

Check out the Free MP3 Promotion Page for more details.

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American Express Raising Interest Rates Dropping Some Fees

BudgetBoy — Thu, 13 Aug 2009 10:06:26 +0000

In today’s economy where banks keep dropping rates on savings products, credit card companies like American Express are raising their credit card rates. Many people, including yours truly, are starting to get letters in the mailbox from American Express stating that the interest rates on some American Express cards are increasing. They say that they are doing this since everyone is raising rate, but you know as well as I do that they are losing money since people just stopped paying their bills. Now they are going after those who pay every month by tacking on a little bit more.

They were nice enough in my letter to tell me which cards this is affecting, but of course, can’t tell me what the new rate is going to be. Not that I should really care since I don’t carry a balance, but it is a tricky move for those of you that need to carry a balance since you have no idea what your new payment will be until you need to pay it.

In the letter they also do mention that they will no longer be charging a over the limit fee. I guess they are hoping that you start racking up more debt and now at a higher interest rate, they don’t need to charge those fees anymore.

So keep an eye out for that new bill to determine what your new interest rate is. Hopefully the increase won’t break the bank, but you should always try as best as you can to get out of credit card debt and pay off the card every month when you use it.

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New Walgreens Coupon – $15 off $75 with Free Shipping

BudgetBoy — Thu, 23 Jul 2009 10:59:47 +0000

Walgreens has a new coupon out where you can get $15 off of a $75 purchase with free shipping.

Just simply add items to your cart that total more than $75. Then enter coupon code “BETTERU” at checkout to get the instant $15 savings.

The free shipping does not requre a code and should automatically be calculated at time of checkout.

You have to place your order by July 24, 2009 at 11:59 p.m. Central Time to qualify. This coupon can be used 5 times per each walgreens account prior to its expirtation Friday evening.

Here are the Full Details

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$7500 First Time Homebuyer Credit

BudgetBoy — Thu, 12 Feb 2009 11:58:39 +0000

Not many people are aware of the $7500 tax credit that that IRS is offering toward the purchase of a new home. The first-time homebuyer is a refundable credit of up to $7,500 that applies to home purchases after April 8, 2008 and before July 1, 2009. This means that the credit will be paid out to eligible home buyers, even if they owe no tax or the credit is more that the tax owed on your return.

This credit works like an interest free loan. If you qualify, you will receive the $7500 as part of your 2008 tax return. The repayment begins in the second year after you receive the money. So you would begin paying it back starting 2010. The repayment period is 15 years and the payment comes out of your yearly tax return. So if you receive the full $7500 you would pay back $500 out of your tax return for the next 15 years.

To qualify for the credit you must meet the following requirements:

You must purchase your home after April 8, 2008 and before July 1, 2009.
The home must be your main home, the one that you live in most of the time
To qualify as a home, it must include sleeping, cooking, and toilet facilities. A home can be a house, condominium, cooperative, mobile home, house trailer, boat, or similar property
Your adjusted gross income with a few changes (also known as your modified adjusted gross income) must be less than $95,000 if filing single or less than $170,000 if married filing jointly. You qualify for only part of the credit if your modified adjusted gross income is between $75,000 and $95,000 if filing single (or between $150,000 and $170,000 if filing jointly)

You can’t claim this credit if you:

Owned a main home at any time in the prior three years preceding your purchase
Purchased this home from a family member, including your grandparents, parents, spouse, children, or grandchildren.
Stopped using your home as your main home.
Sold your main home before the end of the year.
Are a nonresident alien.
If you ever took or were eligible to take the District of Columbia first-time homebuyer credit for any taxable year.
You financed your home from any source that uses tax-exempt mortgage revenue bonds.

I don’t qualify for the credit, however I wanted to see how this worked in TurboTax. I answered the questions like I was a first time homebuyer and sure enough my refund increased by $7500. Not a bad way to receive an interest free loan that you can payback over time. And the fact that the repayment is taken out of your tax returns makes this very hassle free.

I strongly recommend that if you bought a home since April 8 and you fit the qualifications you should definetly jump on this one.

See IRS Publication 530 for more detail.

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Lose your job? Then return your Hyundai!

BudgetBoy — Mon, 12 Jan 2009 11:46:00 +0000

Hyundai Motor America in a bid to get people to buy more cars in this slumping economy will let you return your newly purchased vehicle if you become unable to make your car payments.

I can’t find when this deal became effective, but it is currently running now as I talked with a Hyundai car salesmen this weekend about it.

Basically if you buy or lease a new car from Hyundai, if you fall on hard times within the first 12 months of ownership, the automaker will cover the depreciation on any returned vehicle. This assumes you have been making payments up to the time you decide to return the vehicle.

Customers must also have made at least two payments on the car already. In addition, Hyundai will only refund the depreciation on the returned car up to $7,500.

They didn’t exactly tell me how they determine if you can’t pay your car payment, but the salesman did say they will require proof of job loss or other financial hardship. So don’t plan on buying a car to drive for 12 months then give back!

After the first 12 months, customers have the option of extending the program for a fee through their dealership. Customers who pay cash for their car don’t qualify for the program, Hyundai said. So this appears that you must use their financing arm when buying the car.

This isn’t a bad deal if you are worried about your job. Worst case you are at least paying $7500 for use of the car for one year if you were to give it back at the 12 month mark. Only time will tell how this deal pays off for Hyundai, but hopefully it will help out a few of us that are struggling to make ends meet and are even more concerned about what the future will bring.

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Visa Black Card for When Gold Just Won’t Do

BudgetBoy — Wed, 07 Jan 2009 12:28:53 +0000

There is a new elite credit card out on the market. This time it isn’t American Express that is offering it. Barclays Bank Delaware in partnership with VISA are offering what they are calling the Visa Black Card. These elite types of credit cards go the extra mile for those that are willing to pay for it.

They claim on the card details page that this card “is available to only 1% of U.S. Residents to ensure the highest caliber of personal service is provided to every Cardmember”. It doesn’t really explain what credit score or annual household income you need to qualify, but I am assuming that if they are only issuing this card to 1% of the US it must be a very high number.

Some of the perks of the card include:

Limited Membership
24-Hour Concierge Service
Rewards Program – 1% cash back on all purchases
Luxury Gifts
Access to more than 500 airport lounges in over 90 countries worldwide

The concierge service, which looks pretty interesting, offers the following services:

Entertainment Planning – information and reservations for restaurants, health clubs, sproting events and golf tee times
Business Services – conference and translation services, message services and computer, A/V rentals
Travel Information & Assistance – hotel, fliight mass transit, car rental info and reservations. ATM and weathe information
Country & City Information – sights/entertainment, tourist and shopping info
Gift Arrangements (The one I would use the most) -Gift baskets, Floral arrangements, Specific gifts (as requested), Special occasion gift recommendations
Specialty Services – Assistance with location and purchase of specialty items.

All of these features come at a price, however, in the form of a $495 annual fee. The card design is pleasing to the eye especially when compared to my current cards that are in my wallet. If I had $495 a year to drop on this for the annual fee I would definetly sign up for this as some of the concierge services would come in handy since I travel quite a bit for my job. These elite cards are not for everyone, but if you have the cash, the VISA Black Card is definetly worth a look.

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Happy Holidays!

BudgetBoy — Wed, 24 Dec 2008 12:24:54 +0000

Everyone here at Budgetcents wishes you and your family a joyous holiday season! We will be back after Christmas with more Credit Card, Bank and Brokerage deals to help get a little cash in your pocket!

Thanks for being a reader!

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