insurance coverage for college students Be sure to contact your insurance agents for a review of coverage for your college student. If your student goes to a college more than 100 miles away and doesn't take a car, your auto insurance premiums can drop significantly (20% on average), and he or she will still have coverage when home for the summer or holiday vacations. If your child takes a car to school, your insurance costs may rise or fall depending on the campus location. If you've recently helped a college student pack-up for school, you know that just about half of their total possessions go with them - possessions that can be very expensive to replace. Check to see that … [Read more...]
Money “Wasters”
money waster's Nearly everyone has holes in their budgets... And as with other kinds of leaks, you may have hardly noticed some of them. But those small drips can quickly add up to big bucks. The trick is to find the leaks and stop them so you can keep more money in your pocket. Here are a few to think about. Overspending on Auto Maintenance...Are you still paying for an oil change every 3,000 miles? Many models nowadays can last 5,000 to 7,000 miles between changes, and some even have built-in sensors to tell you when it's time to change the oil. Check your owner's manual to find the best time for your car's routine maintenance. Not Pulling the Plug on Electronics...U.S. … [Read more...]
Rethinking the Tax Refund
rethinking the tax refund Everybody loves a tax refund. But as good as it can feel to get a fat check from Uncle Sam; the best strategy for maximizing your dollars in many cases is to minimize your tax refund. A tax refund typically means you have been paying more than the appropriate amount of income tax to the U.S. government over the course of the year, providing Uncle Sam with what amounts to an interest-free loan directly from your paycheck in the form of withholding. The tax refund essentially is the government repaying you for the loan. Trouble is, not only can’t you charge Uncle Sam interest for the right to borrow your money; you’re also losing the opportunity to put that … [Read more...]
Five Red Flags of Tax Returns
red flags tax returns In March, Vermillion Financial Advisors prepare their clients for the upcoming tax season. We would like to provide you, our readers, with an article to supplement you in the preparation process of your taxes! Audits normally total just over one percent of total tax returns filed, with big income and very low income earners more likely to get flagged. You may have heard that the government needs revenue, so audits are expected to increase. Let's look at five red flags to keep in mind when preparing a tax return. 1. Unrealistic Deductions For the typical tax return, the IRS is interested in seeing deductions in line with other … [Read more...]
Ten Questions When Planning for Financial Security
questions planning financial securityIn February, Vermillion Financial Advisors review their clients' financial inventories and their cash-flow management. To supplement this work, VFA has chosen to provide you, our readers, with an article on how to decide what's important in your financial inventories. When thinking about how to protect your livelihood or build the financial resources you will need to live life as desired, answer these 10 questions first. 1. What is important to me? Before thinking about the right financial products for your needs, clarify what's truly important to you -- the people you care about, the aspirations you have, the things you want to protect, and the … [Read more...]
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