Why You Should Start Saving Right Now

Business Insider has a great chart that shows how starting your retirement savings at 25 is so much better than at 35. While interest rates for savings accounts and certificates of deposit aren’t great right now, that will eventually change. It’s important to get in the habit of saving now.

See: http://www.businessinsider.com/saving-at-25-vs-saving-at-35-2014-3

Savings Rate Center
Today’s Average Rates Across the Country*
Savings / MMA CDs

Min Balance APY Trend
< $10k 0.26%
$10k – $24.9k 0.32%
$25k – $49.9k 0.43%
Term APY Trend
6 Month CD 0.40%
1 Year CD 0.63%
5 Year CD 1.75%
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Finding The Best Tax Software For You

Sandra Block at Kiplinger has a good review of the leading tax software products to help you find the best software for your situation. Although, technically most people complete their taxes online and don’t need to download any software. Many even do their returns on tablets or mobile phones. We don’t have our own reviews, but do have links to leading tax preparation solutions if you want to take a look yourselves.

See: http://www.kiplinger.com/article/taxes/T056-C005-S003-best-tax-software-for-you.html

See also: http://www.moneycafe.com/personal-finance/tax-preparation/


Now You Can Check For ObamaCare Subsidies At eHealthInsurance.com

Looking for affordable healthcare? Want to see if you qualify for an ObamaCare subsidy? eHealthInsurance now has an Affordable Care Act subsidy calculator and is integrated with the Federal Exchange to sell on-exchange QHP plans, aka ObamaCare. These plans are available to people who meet the requirements and are eligible for a subsidy. They also have an Affordable Care Act Resource Center. There are only 2 weeks left to sign-up for ObamaCare, so it’s worth a look.

eHealthInsurance is a great resource for any type of individual, family, or small business health insurance. We have used it ourselves and found it to be very useful in getting the best policies.

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Find Out The Cost Of Your Marriage Penalty Tax

Jim Wang at US News & World Report has an interesting breakdown of what the marriage penalty tax is costing you. For some people there is a “marriage bonus” where taxes are lower because of the different tax rates between single and married filers.

See: http://money.usnews.com/money/blogs/my-money/2014/03/11/how-much-the-marriage-tax-penalty-will-cost-you

See also: TurboTax – Top 10 Tax Deductions You’re Not Taking.


Great Info About Education Tax Breaks

This is the time of year when the focus for all of us is again upon taxes. And for many, next month also brings the focus to college enrollment for incoming Freshmen. Liz Weston has a timely column called: Four Education Tax Blunders To Avoid. It’s a start to help understanding the very confusing tax rules that face parents of college students. One thing is for sure, it’s helpful to understand the tax rules now before your son or daughter enrolls, instead of next year at this time when you will be wishing you looked at it earlier. If anyone else has good advice or useful articles, please post in our comments below.

See: http://www.reuters.com/article/2014/03/17/us-column-weston-taxes-idUSBREA2G12C20140317