Archive for February, 2011

Cheap Movie Deals from Groupon, Redbox, and Amazon

Posted by Madison on February 28, 2011

Since the holidays, I’ve been a big fan of cheap new movies. My Google TV eliminates the need to actually go to the movie store, which makes watching movies much more appealing. Of course, now I’m on the lookout for ways to rent the movies inexpensively. If you are a movie buff, there are some […]

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Discover Open Road $150 Sign Up Bonus

Posted by Kate on February 25, 2011

Discover has been offering some great opportunities lately. This week’s Free Money Friday is perfect for anyone looking for a nice meal out at a great price! How to Get Your $150 Certificate Open a Discover Open Road card. Make a purchase. Receive a $150 Gift Certificate! Discover Terms and Conditions No annual […]

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Would You Consider Reverse Snowbirding?

Posted by Madison on February 24, 2011

My husband, Scott, and I have been discussing where we live at great length lately. We’re happy here in Wisconsin, but one piece is missing for my husband, his family lives in Louisville. It’s a solid 8 hour drive, and we try to make the trip about 3 times a year. We have considered moving […]

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How to Claim the Mortgage Insurance Tax Deduction

Posted by Amanda on February 23, 2011

Owning a home can be an expensive proposition. There is the mortgage, mortgage interest, homeowner’s insurance, property taxes, upkeep, and an added mortgage insurance premium for certain loan types and for people who do not have a big enough down payment when first purchasing their home. Fortunately for homeowners, the government generally encourages homeownership in […]

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Estate Tax Changes in 2011

Posted by Jill on February 22, 2011

The 2001 Bush Tax Cuts lowered estate taxes, phasing in rates that brought the existing estate tax rate from a maximum of 55% to 35% over 10 years. Under that deal, the 35% estate tax rate was to stay in effect through the end of 2009. Estate taxes were set to disappear altogether in 2010, […]

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How Do You Handle College Advantage 529 Plan Taxes?

Posted by Madison on February 21, 2011

Obviously, the aftermath of taking advantage of fantastic deals all year long, is dealing with all the tax paperwork. We’re working on sifting through the tax impacts from each of our free money deals. Today we’re tackling 529 plans, and specifically my favorite, the Ohio College Advantage 529 plan. We previously covered taxes on credit […]

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Budget Protests and the Financial Impact on Our Family

Posted by Madison on February 17, 2011

While the federal budget proposal has a big impact on all of our finances, it’s our state budget bill that is hitting close to home this week. Our new governor rolled out a budget proposal to increase pension and health care contributions and eliminate almost all of the state unions. For the second day in […]

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Are Credit Card Rewards Taxable?

Posted by Jill on February 16, 2011

Lots of our Free Money deals focus on sign-up bonuses or cash back rewards for credit cards. With tax season in full force, I asked Madison recently if sign up bonuses and credit card rewards are taxable. It’s sometimes surprising to see what counts as taxable income. Thankfully, the tax rules for credit card rewards […]

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Will Obama’s Budget Bring Back the Tax Increases?

Posted by Madison on February 15, 2011

Obama’s federal budget proposal is in, and it brings back some some of the same tax increases that were rejected less than 2 months ago. It’s almost as if the ink on the 2011 Tax Deal isn’t even dry yet, and Obama is ready to change it back again in his new budget. Let’s take […]

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The 2010 Tax Deductions You Can’t Claim

Posted by Madison on February 12, 2011

When the Obama Tax Cuts were passed late last year, we assumed that all the expiring tax cuts were extended. Well, that’s not exactly true. Here are a few popular tax deductions from 2009 that you cannot claim on your 2010 tax return: Expired Tax Deductions $2400 Exclusion on Unemployment: For 2010 all unemployment compensation […]

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