Financial Destiny Now

 Informational                                     Yesterday I dared to struggle. Today I dare to win.

                                                                                                                                                                                                ~ Bernadette Devlin ~

It's Tax Season! Call Today for Your Tax Preparation Service Needs.

February 2, 2013
Great Credit & Financial Health Go Hand In Hand. Tax Preparation Services are also available from me UPON REQUEST. I utilize TurboTax Software (Intuit) and I sign all tax returns prepared by me. Get yours started today for a nominal fee and rest assured that all your tax situations will be handled by one of the best! I have over 20 years of Tax Preparation Service Experience. Your Satisfaction and Accuracy of your return is my Top Priority. Thank you for your patronage. I Appreciate your business. Here's to your Financial Destiny Now.


Here's a little TAX FOOD for thought... Here are a few of the Top Tax Myths ~Debunked~:

1. Illegal Activity Is Not Taxable....(Say What???) read on;

As counter-intuitive as it seems, breaking one law doesn’t have any impact on your ability to break others. Income acquired through illicit activity is still taxable income. From a tax compliance perspective, the IRS doesn’t care if you’re selling drugs, robbing banks, or defrauding investors of millions. As long as you’re making money, the government is still entitled to their piece of the pie. Remember, no matter how well you cover you tracks when it comes to illegal activities, cheating on your taxes can come back to bite you -- just ask Al Capone.

2. Filing Taxes is voluntary... (Nah uh) read on;

Although this might easily be the most blatant falsehood on the list, there is a surprisingly large number of people who contend that because the Form 1040 instruction book describes the tax system as “voluntary,” that means they have no legal obligation to actually file. This is not the case. The term voluntary refers to the fact that each individual is responsible for determining the correct amount of tax they owe, and has absolutely no relation to whether or not filing taxes is actually an option. It’s not. Unless you have a legitimate dispute, trying to get cute with the IRS and contesting the payment or filing of taxes is always a bad idea.

3. You can claim pets as dependents (For Real ?) read on;

No matter how much you love your pets, you can’t claim them as dependents. This hasn’t stopped hundreds of people each year from attempting to count Rex, Rover, and Skitters the cat as actual dependents. While there’s no denying that pets do meet the requirement of getting more than half their financial support from their owners, there’s still one small technicality…they’re not humans! Falsely claiming a dependent is considered fraud and should be avoided at all costs.

The IRS is legally obligated to file a return for you (They are?) read on;

The IRS does have the right to verify your return, but sitting on your couch waiting for them to file a return for you is likely to leave you sorely disappointed. Like the myth that taxes are voluntary, this myth stems from language alluding to the fact that the IRS can compile a return on your behalf if they suspect fraud. Unfortunately, this in no way means you are off the hook from having to file your own tax return.

5.  Home office deductions = instant audit (Whoo hoo!) read on;

There was a time when this myth was actually pretty close to truth. However, with home offices becoming increasingly prevalent, this one-time fact has become predominantly fiction. Although claiming a home office does increase scrutiny, they’ve become common enough that there’s no need to be afraid of claiming a legit deduction. The one thing to be wary of is making sure your claim actually falls within the IRS definition of a home office.

6.  Students don't have to pay taxes ...(Yeaaaa, oh) read on;

This myth is actually partially true. A student is not required to pay taxes if they earned less than $9,000 during that tax year. However, it’s typically in the student's best interest to file taxes anyway, because if they had an employer who withheld money for tax purposes, they are probably due a refund.

7.  Money made over the Internet is tax free (Well dang!) read on;

This myth is just plain false. It’s not hard to see how a rumor like this might have gotten started, since most people doing business online aren’t filling out a W-9 and having their income reported to the IRS. However, in the eyes of the IRS, money made online is no different than income earned offline. Regardless of the medium, if you sell a product or service and end up making more than $400, you’re required to declare that income on your tax returns.

8.  I don't make enough money to get audited (Think again, partner) read on;

Income actually has less to do with being audited than you might think. There are considerably more factors involved and plenty of other things that can send up red flags. Although individuals with income exceeding $100k tend to get audited almost twice as often, there is still a one-percent chance of getting audited if you fall beneath that threshold. The best thing you can do is make sure you maintain detailed records of anything that could be considered a questionable deduction. Saving any relevant receipts for a three year period can help eliminate any headaches should you find yourself facing an audit.

9.  My accountant is liable for any mistakes (Oh boy) read on;

Whether or not you hire an accountant, you are still ultimately responsible for any mistakes. Because of this, it’s always best to not simply assume your accountant has everything taken care of, but instead to take a few minutes and double check your return before it is filed. In many cases your accountant will help you through the process if you’re unfortunate enough to be audited, but the bottom line is that you’re the one the IRS is going to be coming after.

10.  I don't have time to do my own taxes (No really, I don't) read on;

Seriously? Having already covered the fact that taxes aren’t voluntary (it was the first myth, for crying out loud), there shouldn’t be any question about whether or not you’re going to file. With the numerous options, including online, available to make filing your taxes easier than ever, “I don’t have time” shouldn’t enter into the equation. No one enjoys filling out their taxes. Okay, no one normal. But that still doesn’t mean you can’t figure out a way to get them done.

~Thanks to TurboTax, Intuit for some of this information~


Happy New Year 2013!

January 6, 2013
We're 6 days into this New Year of 2013. I want to challenge you financially to make the most out of your financial future. Starting now!  Here's something that I came across and would like to share with you.  I believe it is realistic and very doable. Try it.  I know I am/will.  With a little planning and a lot of discipline, this will work!  Look below to find your money challenge chart to start to build a better, brighter, more sound financial future for years and years to come. Here's to ...
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The Holidays Are Approaching! Get Through It Without Debt.

November 16, 2012
This time of year, so many things are vying for our attention                        (and our finances). We must all be careful to consider
what is really important while still paying attention to making Christmas a special time for our children. How do we do that, since we all want to give good gifts to our children? Stay true to the real spirit of the holidays by sticking to these easy-to-follow tips:

:: Wish Lists – We always ask our children,
“What do you want for Christmas?” This year...

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Let Your Creativity Earn You Extra Income Dollar$

September 22, 2012
Got a hobby? Do you like to sing? Are you great at baking or cooking? You'd be surprised at the things that you do everyday or for fun that could earn you extra income. Your creativity CAN PAY you GREATLY!  I'll give you a prime example, I started this business because I needed to feel more useful and I wanted to help others at the same time. I created this website that you're on right now and since I love numbers and fairness and again, helping others, I thought that I'd use my creativity to...
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Where Is Your Legacy Headed?

August 8, 2012
There are a lot of things in life that can be HEREDITARY. Things like high blood pressure, stress, even some of the lucky/blessed ones are due to inherit great wealth, some great suffering. Do you want Bad Credit and Poor Money Management to be added to the list? What would it be worth to you to give your child/children the gift of knowledge where the IMPORTANCE of CREDIT is concerned? How VALUABLE those 9 Digit Numbers we are all given after birth that will follow us for the rest of our...
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Taking Care of Your Financial Destiny Now...

July 20, 2012
If you're looking to repair your credit or "do it yourself", here are a few tips to remember:

  1. You can by law, receive at least 1 FREE credit report from all of the 3 major credit reporting agencies yearly. The amount varies by state. Please note that you can also obtain them FREE after ANY credit DENIAL.
  2. Stay organized and keep records of your findings. If you begin to take charge of your credit and are "gung ho" about doing so then you need to be "gung ho" throughout the whole process. You may...

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A New Beginning...

June 16, 2012
This is not to brag or boast but just to tell you what setting goals, being determined, believing in yourself and your Higher Power and great credit/money management can do for you. In 2006, I lost my home of 10 years to foreclosure. At the time, I could've kept my home had I managed my money better. I also felt that since I had taken the steps to get us a home (I was married at the time of purchase) that all was good and there was no need to stay on top of my credit. I learned the hard way.....
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Money Management Idea #1

May 19, 2012
The amount of money you have has got nothing to do with what you earn. People earning a million dollars a year can have no money. People earning $35,000 a year can be quite well off. It's not what you earn, it's what you spend.

The secret to wealth is not what you earn, it's what you spend.

                                                                                                        ~Paul Cli...

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Don't Be A Victim!

April 10, 2012
Don't Be a Victim of an Inaccurate Credit Report! Make sure your credit score is as high as it can be. A recent study shows that over 84% of credit reports contain incorrect information. A 100 point boost in your credit score Can Save You As Much As $300,000 over your lifetime. With better credit, you can; *Save money on home and auto loans, *Avoid embarrassing credit denials and high insurance rates, *Have confidence when potential employers check your credit,*Avoid expensive deposits with u...
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Rebuilding Your Credit

March 29, 2012
We all deserve peace of mind, individual freedom and personal power. Having debt is the opposite of these things. The path to better and great credit isn't hard. It just takes a little discipline, the desire to change for the betterment of you and your family and smarter money management. Tip #1; You may live with a relative, friend, have a roommate, but none of the bills are in your name. You can still maintain a degree of credit worthiness. *Always create a paper trail. Meaning, DO NOT pay ...
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