10 ways to cut your 2009 taxes now [7-10]

Pay college bills: the stimulus has also improved the tax breaks to pay the bills in college. The new American Opportunity credit replaces the Hope credit for 2009 and 2010. It increases the size of the maximum credit from $ 1,800 to $ 2,500. The income limits for qualifying have increased, too - from $ 58,000 to 90,000 dollars if you are single and $ 116,000 to $ 180,000 if you are married filing jointly.

You can claim the American Opportunity credit, the first four years of college (and not just the first two years, as was the case of the Hope credit).

The money used to pay for college from a 529 savings account or Coverdell education-(two of which can be used for tax-free accounts of the college) do not count toward the American Opportunity credit. You need to pay at least $ 4,000 in tuition, fees and course materials such as textbooks, from a source other than a 529 or Coverdell to qualify for full credit.

Giving to charity: You can write off charitable contributions, if you list your deductions. But people often struggle at the end of December to decide which organizations support. Now is a good time to start thinking about who should benefit from his generosity.

When the timing of their charitable contributions for the year, do not forget to count gifts of money, and enjoy photos and noncash donations. You can also include out of pocket costs to help a charity, such as 14 cents per mile in transportation costs to do charity work or the cost of ingredients for a casserole for you to make a soup profit organization profit.

Tax Max out the self-employed: If you are self employed or have just a little freelance income, do not forget to take advantage of tax benefits.

You will be able to deduct the cost of the equipment you use in your business, such as a computer, printer, fax and copier, and a dedicated phone line, office supplies, business travel and advertising. You may even be able to deduct a portion of your rent or mortgage, property insurance and utilities if you have a home office personnel.

You can also make tax deductible contributions to a retirement plan for self-employed as a simplified employee pension, or a solo 401k, and may deduct their premiums for health insurance if you are not eligible for health insurance an employer or their spouse's employer. (You can not deduct more than the net profit of your business.)

Keep track of medical expenses: As you mentioned, incur large medical expenses can result in a bill to lower tax. But it can be difficult to get much of a break for medical expenses.

Do you qualify for the tax break only if you list your deductions, and you can recoup the cost only if it exceeds 7.5% of your adjusted gross income.

This means that if you are earning $ 50,000 a year, you can deduct out-of-pocket medical expenses, and $ 3750. If you have $ 5,000 of qualified costs, you're left with a deduction of only $ 1,250. But even if the partial deduction can make a difference. If you are in the range of 25%, a deduction of $ 1250 can reduce their tax bill of $ 313.

Keep receipts of money spent on medical expenses on your tax file throughout the year, because you might end up with a surprisingly large deduction if you have a medical emergency or a major expense that is not covered by insurance, such as fertility treatments, orthodontics, laser surgery eye or any other experimental medical procedures that your insurer will not cover.

10 ways to cut your '09 taxes now [4-6]

Buy a car: The stimulus plan also provides for a tax break for buyers of new cars. If you buy a new car between February 17 and December 31, you can deduct state and local taxes and sales taxes paid up to $ 49,500 cost of the car. If you live in a state that has a sales tax, you still get a tax break if your state imposes a flat fee on the purchase of vehicles or a fee based on the price you pay.

The tax applies to new (not used) cars, light trucks, motor homes and motorcycles. To qualify, your adjusted gross income must be for less than $ 135,000 if you are single or $ 260,000 if married joint submission (the deduction begins to phase out if you earn over 125,000 dollars, if simple, or 250,000 dollars if married filing jointly).

Sale of investments to lose: the capital losses are first used to offset capital gains and then up to $ 3,000 of net loss may be offset against income like your salary. Any additional loss is carried forward to future years.

Maximize their tax deductions and credits: Tax credits can reduce your tax bill dollar for dollar. If you contribute to a 401k, IRA or other retirement savings plan, you may qualify for the savers credit reform "tax, which can cut your tax bill of up to $ 1,000 per person

The dependent care tax credit is also important - and often overlooked - if you pay someone to care for your child while you work. Keep in mind that same day summer camp to the child is under 13 and you or your spouse work.

And tax deductions are important, too, which lowers your taxable income and in turn reduce your tax bill.

10 ways to cut your '09 taxes now [1-3]

Putting more in your 401k, buying a house or car or giving to charity are among the moves that, if made by Dec. 31, will help shrink your tax bill next spring.

A reader wrote me recently: "I discovered just three ways to cut my taxes: reduce the rent, give more to charity and incur large medical expenses. Is there anything I can do?"

The reader has the right idea: Anything that reduces your income or maximize your credits and deductions will reduce your tax bill.
And now is the perfect time of year to make some moves that can help lower your tax liability for 2009 - and make important decisions about the benefits of its employee, it can cut your taxes for 2010. Here are 10 ways to reduce their taxes:

Boost your 401k contributions: Any money you contribute to a 401k reduces your taxable income. You can contribute up to $ 16,500 to a 401k in 2009 (plus an extra $ 5,500 if you are 50 or more). You still have several months to increase their regular contributions, or you can add any of salary you receive help max out their contributions before 2009 ends.

Make the most of your Flexible Spending Account: Contributions to a flexible spending account to avoid income tax and social security tax, you can save 35% or more compared with spending after tax dollars. Most employers require you to use your FSA money by December 31 or before 15 March next year to make sure that we are on track to spend money in your account before the deadline (otherwise, it disappears).

You will be taking important decisions on behalf of the FSA next year over the next few months, and you may want to increase your contribution if your employer is increasing your out-of-pocket costs of health care for next year - as many of them are.

The maximum employer contribution varies, but many allow you to set aside $ 3,000 per year in cash pre-tax health care flexible spending account and up to $ 5,000 in a dependent care FSA.

Buying a house: The economic stimulus plan provides a tax credit of up to $ 8,000 for buying a first home between January 1 and November 30.

Two important notes: If you have not signed a contract to buy a home, you may be out of luck because of the time it takes to close the purchase. But - and this is important - Congress may extend this tax in 2010. A decision is expected soon.

You are considered a first time homebuyer if you (and your spouse if you are married) did not have a home in the last three years. The credit begins to phase out if your modified adjusted gross income tops $ 75,000 (or $ 150,000 if married filing jointly), and it disappears, if your income exceeds $ 95,000 if you are single (or $ 170,000 if filing married together).

A special rule allows you to receive the money quickly: After closing the home, you can claim credit for the purchase of 2009 on an amended tax return for 2008. But unlike the 2008 version of tax cuts, you need not pay back the credit, as long as you live in your home for at least three years.

Top 10 Great Jobs for summer

1. Amusement park worker

Summer sizzle: Amusement parks are a prime summer-job hub, mainly because your options are endless in terms of jobs. Just a few of the positions that need to be filled include performers, ride operators, customer service, mascots, game workers and food staff. (Did I mention the discounts on entry and funnel cakes?)

Salary: $21,758

2. Bartender

Summer sizzle: Summer seems to trigger a hidden thirst gland that's been hibernating all winter. The first nice day rolls around and windows open, music plays and bars fill up. Bartenders make great money and keep busy serving up many a cold beverage to college students and workers taking a load off.

Salary: $21,876

3. Catering helper

Summer sizzle: Find a job helping a catering company part time during the summer and you're in business. The scheduling for a gig like this is ideal: You're able to work a certain amount of events per week, for a few hours at a time and at a great hourly rate.

Salary: $16,469

4. Construction worker

Summer sizzle: There are more than a few upsides to performing physically demanding work all summer long. The first few that come to mind are killer muscles, rewarding work and a great tan.

Salary: $31,781

5. Day-camp counselor

Summer sizzle: Rise and shine! It's true that your days of sleeping in will be short-lived as a camp counselor, but working with kids is never short of pure entertainment and you'll enjoy organizing group activities, like crafts or outings to the pool. Plus, you'll get evenings and weekends off.

Salary: $20,493

6. Executive assistant

Summer sizzle: Although you'll have to trade your bikini for office attire, the chances of finding administrative work are in your favor during the summer. As employees take summer vacation, many companies bring on extra staff to cover their projects. Plus, getting your foot in the door by helping companies tackle projects will do only good things for your résumé.

Salary: $49,270

7. Lifeguard

Summer sizzle: If you can't beat 'em, join 'em. That is, if you can't afford to spend your days poolside for the fun of it, soak up some rays and get paid for it by keeping tabs on swimmers from your guard chair.

Salary: $16,782

8. Resort desk clerk

Summer sizzle: Every resort vacationer is looking for a little R and R, so you'll work to ensure guest's needs are met. On your downtime, you can spend your time enjoying some of the luxuries of the resort yourself.

Salary: $17,585

9. Tour guide

Summer sizzle: While living near a tourist trap or in a vacation town can be annoying at times, it can also work to your advantage. Options are endless when it comes to the things people want to see. You can find a job leading boat tours, bus tours, architecture tours, haunted mansion tours, museum tours ... the list goes on. This summer gig is a great way to learn more about the city in which you live and get paid doing it.

Salary: $22,545

10. Valet parking attendant

Summer sizzle: Valets essentially exist almost anywhere. From hotels to restaurants to concert venues to weddings, you can earn some serious cash in tips from generous patrons at any given place. And depending on the venue, chances are you'll probably get to see some pretty cool stuff -- and drive some pretty sweet cars -- in the meantime.

Salary: $16,737

Get out of debt on $26,000 a year [chapter2]

Staying current

Hunihan's former spending habits have damaged her credit history, but she can repair it in several ways:

Pay her current bills on time.

Knock out a large loan, such as the one for a new car she took out in 2007. Her poor credit netted her a 36-month loan that requires weekly payments. The $10,000 loan will cost her an additional $4,000 in interest by the time she's through, but successfully paying it off will indicate to future lenders that she's a better credit risk now.

Get a secured credit card. Hunihan could open a secured card with a small amount, say $200. The lender would give her a credit card with a matching $200 limit. The lender would have Hunihan's bank deposit for collateral, and, as long as she made timely payments, Hunihan could prove she's become more responsible.

Set up a regular repayment schedule with the bank where the checks were overdrawn. The account is closed, but sending money consistently will exhibit her financial discipline.

Avoiding future disasters

Hunihan shouldn't devote all her earnings to paying current bills and ridding herself of her debts, though. She still needs to prepare for surprises.

She should set aside a small amount each week -- even $10 a month -- to a savings account she can access in emergencies.

And Hunihan should get health insurance. She's living without it because her employer doesn't provide it. But the risk is too large. If she developed an unexpected illness or had an accident, her financial plan would be ruined, and she'd be buried under medical bills.

Hunihan should check whether she's eligible for any discounted health policies through alumni or industry groups, such as the National Cosmetology Association, which offers discounted insurance policies to its members. Or, if she looks for part-time work to bring in extra cash, she could seek an employer that offers insurance to part-timers. These are hard to find, but some larger chain companies do offer health benefits.

She should also check Families USA's state-by-state guide to see whether she qualifies for any state health insurance programs.

Having the right attitude

Despite all her troubles, Hunihan has the right attitude. She considers herself lucky. She says she easily could have been one of those people with $23,000 in credit card debt rather than the total debt of $3,000 she has.

She also has a goal that motivates her to stick to frugality: She wants a zero balance and a shot at someday opening her own hair salon or doing hair and makeup for videos or film.

"I don't usually fail," she says. "I'm trying to fight for the good and make my dreams come true, and thereafter I hope to do good for other people. You'll see me someday, I promise."

Get out of debt on $26,000 a year [chapter1]

Attacking those old debts

Hunihan has a tight budget but could start knocking out those lingering bills:

First, she could find a way to bring in extra income and put every penny of it toward old debts. Perhaps she could get an extra shift at the hair salon or a part-time retail job.

Next, she should pay off the smallest debt first. Though a $79 gym bill may not seem like much, erasing it from her "to pay" list would feel like a great accomplishment. She could then move on to the next bill, and the next, until they're gone. Her old credit card bills have balances of less than $600 each and interest rates of more than 25%, so there's no advantage to paying one over the other.

Hunihan also needs to check her credit report to make sure there are no old bills she's overlooking. She can get a free credit report once a year from AnnualCreditReport.com, a service provided by the three major credit bureaus.

Understanding how she dug the hole

Hunihan no longer has any credit cards -- the lenders canceled them due to nonpayment -- but her debts remain.

To avoid falling back into dangerous spending patterns, Hunihan needs to understand the roots of her habits.

"My first memory of my mother and money is seeing my father yell at my mother because she was always spending money," Hunihan says.

Her dad was a strict budgeter who used a green pad and pen to keep track of every dime, but Hunihan took after her mom, whom she calls a shopaholic.

Hunihan began her relationship with credit cards as a freshman in college when she was greeted by a long table filled with banking representatives. In minutes, she walked away with five credit cards and thousands of dollars of available credit.

Within two or three months, Hunihan had maxed out her plastic. She didn't bother -- nor could she afford -- to pay the balances, and she wasn't worried about it. Back then, she didn't understand why it was important to make timely payments.

"I don't think it was until about five years ago that I understood I had to pay even the rent on time, that people couldn't just wait for their money," Hunihan says. "I have to pay things on time to look in the mirror and respect myself or have other people respect me."

from MSN Money

Best 100 sites for bargain hunters [chapter 5]

Best sites for productivity and careers
The Blog of Tim Ferriss. The best introduction to Ferriss is his best-selling book, "The 4-Hour Workweek," but his musings on productivity and "lifestyle design" are fun reading even if you don't know your virtual assistants from your virtual reality.

The Brazen Careerist. Its tag line: "Define your career. Control your life." Work/life balance is a defining topic here, but a team of outspoken bloggers and an active commenting community touch on virtually every job-related topic imaginable.

Lifehacker. Founding editor Gina Trapani built a site that focuses on using technology to get things done smarter and faster, but also includes offline solutions for streamlining your life.

The Thin Pink Line. I briefly blogged for this site, but these days I'm just another reader regularly checking in for the sage career advice of Lois Frankel, Carol Frohlinger and Lindsey Pollak, as well as the personal-finance musings of Valerie Coleman Morris.

WebWorkerDaily. A team of writers offers productivity advice and other tips for people who work primarily by or on the Web. Recent posts debated BlackBerrys versus iPhones and offered tips for speeding up a slow hotel Internet connection.

Zen Habits. Writer Leo Baubata aspires to simple productivity, and his own turnaround story is pretty darned inspirational. (Short version: He went from being a fat smoker to a thin marathon runner, all while raising six kids and launching a successful blog that replaced his day job.) Baubata's Write to Done is a writing-specific blog that's also worth a look.

Best sites for free entertainment
Fancast. For free, watch full episodes from network TV (including "American Idol" performances) and movies online with minimal commercials.

Hulu. Hulu offers a variety of TV episodes, movie trailers, food show recipes and documentaries. It's worth perusing to find those videos that are not necessarily mainstream.

Pandora. Not only does Pandora give you free radio, it sets up a "radio station" that plays only the music you like to hear. Registration is free, and the music begins to play almost immediately.

Best site for freebies
Freebiewatch. If you're on the lookout for a particular product, sign up here, and this site will keep track of it for you. Many of the freebies it has tracked down are samples, but others include free exercise DVDs and a seven-day pass to Bally's Fitness.

Free Stuff Times. This site scores points not only for the offers and coupons it presents, but also because of the solid, un-self-promoting advice it gives in its tips section. The links are sound, and the site is updated daily.

Hey, It's Free! This site is entertaining and full of information about freebies, from the running blog by "Goob" to the ads that top the site. Goob claims to spend his day looking for "100% legit, non-spammy freebies" and updates frequently, including noting which offers have expired.

Best sites for swapping stuff
Freecycle. Launched by a guy in Tucson, Ariz., who hated to see perfectly good stuff wind up at the dump, Freecycle connects people who have things to give away with those who want them.

PaperBack Swap. More than 3 million book titles are available here, and they're free. Members list books they're willing to swap. You pay postage on the books you send out, and members who send you books return the favor.

TitleTrader. If you have boxes of books and, well, just stuff, you can swap it or sell it here. As soon as you send an item to someone else, you earn credits to buy other things on the site. It's free. In addition, you can set up a wish list and be notified when something on your list becomes available.

Best sites for free tech stuff
5 Star Support. This site offers tech support, articles and forums for computer security, tutorials for free computer support, troubleshooting FAQ and a self-help "Tips, Tricks and Tweaks" section.

OnlyFreewares.com. From utilities to graphics to desktop products, this site offers free downloads to meet your computer needs.

Mozy. Give yourself peace of mind. Back your computer up online, so if your house burns down, all your music, pictures and data won't be dust in the wind. Mozy offers 2 gigbytes for free. For more space, it's $5 a month.

Tech-Recipes. More than 2,000 step-by-step free tutorials are available at this site, mostly written by users, and cover topics including BlackBerrys, Internet browsers and Kindle.

Wi-Fi Free Spot. Find a fast, free Internet connection wherever you are.

Zoho. Get an array of online applications, including presentation tools, Web conferencing, database applications and project management software. It's free for individuals with a subscription fee for organizations.

Meet Weston at The Money Show
MSN Money's Liz Pulliam Weston, the Web's top personal-finance columnist, will be among dozens of experts on hand at The Money Show in Las Vegas, May 11-14, to help you learn what you need to know to make smart money decisions during the economic crisis. Admission is free for MSN Money users.

Best 100 sites for bargain hunters [chapter 4]

Best sites for free government help
Federal Citizen Information Center. Yeah, it needs a better name, but this site is the clearinghouse for just about every speck of consumer information put out by the U.S. government. Go, look, learn.

The Federal Reserve. Having trouble with your bank? Trying to avoid foreclosure? Looking for tools to teach your kids about money? The Fed's site has all that and more.

Govbenefits.gov. Run by the federal government, this site connects you to an array of government programs you might qualify for, and you don't necessarily have to be broke to benefit. If you're eligible and need the help offered, you should apply; your tax dollars paid for these programs while you were working.

Facebook users: Become a fan of Liz Pulliam Weston

Home Energy Saver. This interactive calculator asks a raft of detailed questions about your home, from the number of windows to how much attic insulation you have. The tool lets you set the payback period so you only see the investments that are likely to pay off before you move.

Mymoney.gov. Created to educate Americans about personal finance and the markets, the U.S. Financial Literacy and Education Commission's site includes information on budgeting, home ownership, borrowing and investing.

Best sites for insurance
Insure.com. Besides offering competitive quotes on most types of insurance, Insure.com also has thoughtful, well-researched articles about insurance subjects.

United Policyholders. This consumer-rights organization, founded after California's devastating Oakland Hills fires in 1991, helps people navigate the insurance claim system, particularly after natural disasters. You'll find tips about how to file and settle claims as well as when to hire an attorney to represent you.

Best sites for doing it yourself

Fix-It Club. Home repair experts Dan and Judy Ramsey offer free how-to guides on hundreds of repair jobs that you can do at home, including fixing a bike, a doorbell, a fishing pole and more.

Instructables. Get step-by-step instructions for craft projects (including "manly" ones), games, home decorating and repair, personal hygiene and more.

Nolo. Books and software published by this legal self-help publisher offer solid advice on often complex topics, and so does its Web site. The Nolopedia section has articles on bankruptcy, estate taxes, landlord-tenant disputes, immigration, divorce and much, much more.

Best sites for travel
Farecast. If you've ever watched an airfare tumble right after you booked, you'll want to visit Farecast. The site tracks price trends and predicts whether fares will rise or fall in the near future, offering advice about whether to buy now or wait.

Kayak. This site "kayaks" the Web for you, searching several travel sites and bringing back the information for you as you wait on the shore. The results pop up in separate windows for easy comparisons.

MouseSavers.com. If you want the inside scoop and special deals for Disneyland and Disney World, this is the site. Sign up for the newsletter to be alerted to breaking deals.

OneBag. Sick of dragging around heavy suitcases and paying baggage fees? OneBag can help you break the overpacking habit so you bring just what you need, and no more. Save money -- and your back.

SeatGuru. Tired of getting the worst seat on every flight? I don't book an airline ticket until I've checked out this site, which offers color-coded seat maps to identify the good, bad and "mixed" seats while showing where overhead TVs and power ports are located.

Theme Park Insider. The Insider covers the Disney properties, too, but reaches beyond the world of the mouse to review and rate other parks, including Six Flags, Universal, Cedar Point and SeaWorld.

TripAdvisor. Before you go anywhere, check out the reviews at TripAdvisor. With more than 20 million traveler opinions about hotels, restaurants, cruises and attractions, TripAdvisor has the volume to ensure you're getting the real scoop and not just the ventings of a few cranky customers -- or the phony pimping of people hired to make a place sound good.

The Universal Packing List. Clever interactive tool helps you create a site-specific packing list so that you don't wind up somewhere with the wrong gear. The tips and items on the lists go beyond the standard fare and include things to do before every trip, such as washing the dishes and emptying all the trash cans.

WebFlyer. If you're a frequent traveler, Randy Petersen's site will help you get the most out of all that time you spend away from home. Petersen alerts readers to special offers and changes in their frequent-flier programs, while offering tools to help you compare frequent-travel programs (Head2Head) and rescue miles or points that would otherwise be stranded (Mileage Converter).

Best sites for really cheap travel
CouchSurfing. CouchSurfing is more a movement than a simple travel site, with a goal of making connections between budget travelers and the communities they visit. You can offer and look for free accommodations, which range from the aforementioned couch to guest rooms to guest houses.

HomeExchange.com. The house-swapping site featured in the movie "The Holiday," HomeExchange connects people who want to save on lodging and get a feel for local neighborhoods by trading homes on vacation.

Less Than a Shoestring. The authors define a travel budget as about $10 a day. Not only will you find out about potential deals, you'll get the scoop on any airlines that are charging extra for services, find out where to get a tourist guide to any state and any other travel news that crosses their radar.

Best sites for charitable giving
Charity Navigator. This charity evaluation site has somewhat tougher standards than most.

DonorsChoose.org. This online charity helps you match a gift to a classroom in need.

GuideStar. This recently redesigned Web site helps you research a charity before you give.

Best 100 sites for bargain hunters [chapter 3]

Best sites for comparison shopping
BeatMyPrice.com. Once you've found an online price, log in here to see whether anyone else has found it cheaper. Or you could just type in what you'd like to spend and see what's out there. Either way, you might find a better deal.

BeatThat! If you find a better deal than what this comparison-shopping site finds, you can submit it and make some money. The site's blog talks less about specific products and more about the world of online shopping, making it a good place to get an overview before heading out into the world of deals.

DiscountMore.com. This search engine pulls up not only the top online stores, from Amazon.com to Target, but also scrapes hits from other search engines, including PriceGrabber.com and MySimon.

Best sites for saving and investing
Bankrate.com. Bankrate started out by tracking interest rates and now has a wealth of articles on most finance topics.

Findacreditunion.com. Credit unions offer better rates on savings and on loans than most banks. If you're not already a member, this handy tool helps you find credit unions you may be eligible to join.

Morningstar. Research stocks, bonds, mutual funds, exchange-traded funds and other investments with the site's free content. A subscription gets you access to premium content, including analysts' reports.

Financial Engines. For $39 a quarter, you can get personalized investment advice to help you plan for retirement and pick the right funds for your 401(k), IRAs and other retirement accounts.

Best sites for paying for college
FinAid. This is an indispensable site for anyone hoping to navigate the choppy waters of financial aid, with some of the best information available anywhere on student loans.

Savingforcollege.com. When 529 college savings plans were created, accountant Joe Hurley was an early evangelist. He explains how they work, the details of each plan and how to choose the right one for your family.

Best sites for managing your credit
AnnualCreditReport.com. This is the government-run clearinghouse to get your legally mandated free credit reports -- you get one per year each from Experian, TransUnion and Equifax. Accept no imitations.

CardRatings.com. This site does more than highlight some of the best available credit card offers. It also advises users on how to best manage their credit, pay off debt and deal with credit crises. LowCard$.com and Index credit cards are good to check, too.

Credit.com. Two of my favorite credit experts, John Ulzheimer and Gerri Detweiler, contribute to this site, which educates users about all things credit-related.

CreditCards.com. Former Bankrate.com editor Dan Ray has added smart, timely content to what was once just a collection of credit card offers. You can search for those here too, of course, but also check out the breaking news stories, the advice and the expert Q&As.

CreditMattersBlog.com. Run by a former Wall Street reporter and soon-to-be lawyer, this blog tracks changes in the credit markets and has broken more than a few stories, including the one about American Express paying some customers $300 to close their accounts.

myFICO. If you're going to pay for a credit score (as opposed to a credit report, which you should never pay for), you might as well get a FICO, which is the scoring formula most lenders use. This is where you can buy FICOs for Equifax and TransUnion. (The third credit bureau, Experian, no longer sells FICO scores to consumers.) The site also has a lot of great information about how your scores are figured, what interest rates your scores qualify you for and how to improve your scores.

Best sites for real estate and mortgages
ThinkGlink.com. Ilyce Glink writes about all kinds of personal-finance matters, but her particular strength is real estate. Articles, Q&As and videos educate you about everything from buying your first house to swapping commercial property with a 1031 exchange.

Mortgage Professor's Web Site. Jack Guttentag is one of my go-to sources for mortgage insights, and his site helps consumers navigate the confusing world of home loans. Plus he has a chart of wholesale mortgage rates that's updated daily so you can see whether you're getting a good deal on your home loan or refinance.

HUD.gov. Wondering how to buy your first home? Concerned you might lose the one you have? The U.S. Department of Housing and Urban Development offers links to housing counselors and a wealth of information about how to buy, and keep, your home.

Making Home Affordable. This government Web site offers self-assessment tools to determine whether you might be eligible for new loan modification or refinancing programs.

Best 100 sites for bargain hunters [chapter 2]

FreeShipping.org. Don't hit the "buy" button until you've searched this site for free shipping codes. You can set up e-mail alerts to be notified when your favorite stores offer same.

Red Tape Chronicles MSNBC reporter Bob Sullivan spots scams, uncovers fraud and warns about the many, many ways you get nickel-and-dimed -- and "dollared" -- to death, as well as how to fight back.

Shop It To Me. This is a clothing-alert site that lets you know in daily or weekly newsletters what clothing selections in your size are put on sale. Written in an upbeat, cheeky tone, the site is easy to use and guides you through the process. This site tends toward upscale merchants such as Nordstrom, Saks Fifth Avenue, Bloomingdales, Banana Republic and Gap.

ShopLocal.com. This handy guide lets you look at store ads in your area. Compare prices on products at comparable stores. One interesting feature is that as soon as you log back in to the site, you get a notice about the number of sales in your area (typically in the thousands) and the amount you could save if you hit all of those deals (typically in the hundreds of thousands).

The best sites for bargain hunting
Ben's Bargains. Ben's is heavy on electronics and gadgets but throws in mentions of other deals as well. Ben's trackers automatically check with certain merchants on prices in certain categories and then present the information in an efficient manner, detailing the price drops and their recommendation for purchasing.

DealNews. This tops my list for bargain-hunting sites because it guarantees that the deals it highlights are the lowest prices the site could find for a particular item from a reputable store. I also like the fact you can rank the deals by "hotness" as well as by category and how recently the deal became available.

Ebates. Find online coupons and deals, and get rebates when you buy. Many of the rebates are less than 5%, however, so be picky. Shop around first to make sure you're actually getting the best deal.

FatWallet. Like eBates, FatWallet tracks deals and offers money back. You can set up alerts for specific items and find even more deals in the forum section.

MyBargainBuddy.com. This site focuses on deals that appeal to women, particularly moms and crafters. But the deals are solid, with the lists filled with 40% and 50% off deals. In addition, you can search by store for coupon codes.

Slickdeals. This site doesn't provide much guidance to distinguish run-of-the-mill discounts from great deals, but it's still packed with thousands of freebies, discounts, coupons and promo codes. The site also promises that no companies can buy placement in its front page listings.

The best sites for grocery savings
CouponMom.com. Track all the advertised and unadvertised sales at local grocery stores (plus Target and Wal-Mart) and learn when to combine a sale with Sunday newspaper coupons for the best discounts. CouponMom will direct you to the relevant week's circular so you clip only what you need.

The Grocery Game. The Grocery Game highlights sales and lets you know when to deploy your coupons, but it does so in a more user-friendly way than CouponMom.com. The difference will cost you: The Grocery Games charges a few bucks a month for its service.

Hot Coupon World. In addition to coupons, this site provides honest-to-goodness shopping and sales news, including which stores will no longer honor competitors' coupons. More than 50 forums address topics of interest to those who want to save money, spend wisely, create a business, etc.

Penny Pincher Gazette. Get an overview of all the grocery ads in your area, with the best deals highlighted by a five-star rating system that distinguishes the great deals from the minor discounts.

The best sites for coupons
Alex's Coupons. This site offers many of the coupon codes and discounts you'll find on other sites, with a twist: Some of the proceeds are donated to cancer charities.

CouponCabin. This site features printable and online coupons for daily and general use. If your grocery store accepts online coupons -- many don't -- visit here before you go.

CouponCode.com. One of the easiest sites to use, CouponCode lets you break down your coupon search in various ways: by coupons that expire soon or free shipping coupons, for example.

Coupon Mountain. Most of the coupons require you to spend a minimum amount before you can use the coupon, so this site is most effective if you already know what product you're interested in and how much you want to spend.

RetailMeNot.com. If I'm looking for an online coupon, chances are I'll find the best ones here. As with other sites, though, you have to watch for out-of-date coupons and those prone to technical difficulties.

Best 100 sites for bargain hunters [chapter 1]

Here are my favorite Internet destinations for saving money, time and headaches. All are worth a bookmark. If you've got one of your own, chime in.

The best sites for saving money
Bargaineering. Jim Wang's blog offers plenty of good personal-finance content along with reviews of banks, credit card offers, books and products.

Consumerism Commentary. Track blogger Flexo's net worth as he and partner Smithee write about saving money on everything from banking to travel.

The Dollar Stretcher. If this site has had a major redesign since its launch in 1996, I missed it. But you don't need fancy graphics when you have a huge library of articles and tips about saving money. Even black-belt frugality experts will find new information here.

Financial Integrity. This is the site run by the New Road Map Foundation and Vicki Robin, a co-author of the seminal voluntary simplicity guidebook "Your Money or Your Life." Learn the steps to create financial freedom and align your financial life with your personal values.

Get Rich Slowly. Blogger J.D. Roth dug his way out of debt and tells you how you can, too. An active community of readers provides additional insights and commentary.

The Simple Dollar. Like Roth, Trent Hamm has experienced and conquered debt. He grew up in poverty and understands how early deprivation can lead to later disasters with money.

The Simple Living Network. Followers of voluntary simplicity will find just about everything they need here, including articles, discussion forums and links to a range of like-minded sites.

Smart Spending. Yeah, it's cross promotion, but MSN Money's Smart Spending blog is still one of my favorite places to check for savings tips, commentaries on frugality and a roundup of good deals around the Web.

Wise Bread. A variety of voices enlivens Wise Bread, a site devoted to helping you "live large on a small budget." In addition to personal finance and frugal living, Wise Bread provides commentary on careers and "life hacks."

The best sites for savvier spending
Angie's List. Need to find a good contractor, a reliable handyman, an honest plumber or a warmhearted pediatrician? You'll find them and more on this consumer review site, which now has more than 750,000 members contributing and searching reports on local businesses. Membership fees vary by city but are typically around $5 a month to $40 a year.

BillShrink. Get a better deal on credit cards and cell phone plans by answering a few questions about your bills. BillShrink analyzes your situation and matches you up with competitive offers.

The Budget Fashionista. You can look good for a lot less if you follow Kathryn Finney's smart advice, sales alerts and budget shopping tips.

Facebook users: Become a fan of Liz Pulliam Weston

Consumer Reports. The venerable consumer-products-testing organization has an easy-to-use site with plenty of free information, but it's well worth the $26 annual subscription to have access to all the detailed ratings.

The Consumerist. Now owned by Consumers Union, the publisher of Consumer Reports, this irreverent site alerts readers to scams, customer-service nightmares, great deals and money-saving opportunities.

Edmunds.com. There are plenty of car price research sites on the Web, but Edmunds distinguishes itself with the True Cost to Own feature, which predicts how much each vehicle will cost in maintenance, repairs, insurance and depreciation over time, as well as in-depth articles such as the must-read "Confessions of a Car Salesman."

ePinions. "Unbiased reviews by real people" of an amazing variety of stuff. You can find ratings of products, companies, books, music and more.

The real odds for winning the lottery

You may have seen the discussion about the general low level of "financial literacy" in the recent past.

In the long term - and its two opposing evil, "financial illiteracy" - used to describe the extent to which people understand the practical issues of their economic life.

In a broader sense, in terms of "account" and innumeracy "is used to describe the extent to which people understand the numbers in general, including probability and statistics matter.

Well, it turns out that many people in public places such as Canada, the United States and United Kingdom believe that they should do something to help his people to stand and counters.

It is difficult to argue with the need to improve education in mathematics and finance, where the population has a savings rate near zero, and debt to disposable income to 140 percent, was a house with the help of the shares at the current fuel consumption, but also currently spends more money on lottery tickets than on reading materials.

I know what you think. Just cotton-pickin 'minute! Is not the government, which are Decrying our weak understanding of the very same people that run the lottery?

Um, yes, it is them. It is clear that your Government would like to improve the financial literacy, while enjoying a piece of your gaming action. Ah, public policy! It is just so darn difficult to get all this in philosophical alignment.

Lotteries, often used as examples of financial illiteracy, innumeracy, or because he realized for the general probabilities, which are based on the game.

Take the venerable crowd favorite, in Lotto 6-49. The rules are very simple and accessible. Each ticket is divided into six figures. If your ticket numbers match the six numbers, which are collected in a draw, you will receive or share the main prize, and you could be financially set for life.

Chances of winning are clearly published, the process is very transparent, and everybody understands that this is a long shot. So to understand?

The problem is numbers. Most of us, as it turns out, is rather inept at intuitive understanding of very large quantities. Small numbers of a piece of cake, because we can conceptualize them against our ten fingers. The numbers in the hundreds or thousands of works because we can see and understand, say, two hundred pennies in a coin bank, 18000, or people in the NHL scene. But tens of millions? Fuhgeddaboudit.

For the most part, we conceptualize the meaning of a large number do not think about the number of individual units, but with the help of comparative costs. So, perhaps we could think of a million dollars in a very reasonable price for the house, because the majority of homes costing more than (Vancouver).

Or perhaps we think of the millions of dollars as a ridiculous price for a house, because the same amount to buy two very NICE house for $ 500,000 each (everywhere).

Perhaps we try to determine the size of hedge-fund manager George Soros' personal income in 2008 (1.1 billion U.S. dollars), noting that it is not even half the income hedge-fund manager James Simons ($ 2.5 billion ) - or that it was more handily than the GDP British Virgin Islands ($ 840 million). In other words, we try and meaning of large numbers by weighing them on a relative scale.

We can digest a large number of participating in the probability of winning the Lotto 6-49 in the same way. The nice people at the lottery to assure us that the probability that any given number will be drawn is one of the 13983816. To state that the same statistics in a different way, any number can be expected to win the 0.000007 percent of the time.

Therefore, the next time you buy a lottery ticket 6-49, you can be 99.999993 percent sure that you do not win the big jackpot. Now, go ahead and compare that to your belief, well, almost nothing. (For example, on the basis of the latest Transport Canada statistics, on average, you are more than four times more likely than dying in a car ... and now.)

Talk about buying with confidence! There may be another product, which you can be so certain. You are almost guaranteed not to win. In fact, you can also just break your lottery ticket right before the nose of a clerk who sold it to you, and cavalierly wagers on the note in the shopping cart. Why? Perhaps because, as your government, you certainly take it - but you love the invisible discretionary tax!

Can the housing bailout help you?

What President Barack Obama, the housing plan of salvation for you?

Perhaps, the lower house payments and not just for those already in default.

"All we are paying the price for the home mortgage crisis," Obama said on Wednesday announced the program during a ceremony at the Phoenix-area schools.

Housing construction had devastated the nation into recession. Construction of houses and applications for future projects, as loaded on a record low in January, as all parts of the country, showed a large decline in construction. Analysts strengthens the hope that out of state programs, including measures to curb the foreclosure, help stop the slide.

Headlining Obama effort is a $ 75 billion a homeowner affordability and sustainability of the plan, which will provide a set of incentives for creditors to reduce monthly payments for mortgage sustainable levels.

Another key component: a new program aimed at helping homeowners who are "underwater" - who owe more on their mortgages than their house is worth. Such mortgages are traditionally almost impossible to refinance. But the White House said its plan would help 4 million to 5 million families to do just that.

Here are the changes likely to affect you.

Refinance even if you are 'underwater'
Mortgage rates to nearly record lows to make payments more manageable for homeowners were falling in price. Although many of the owners of their current payments, a sharp fall in the price of holding them under water. Homeowners whose mortgages were purchased or guaranteed by Fannie Mae and Freddie Mac, as a rule, must be fair, at least 20% for refinancing. Obama's program, which will lead to changes in requirements, which allows even those who owe up to 105% of the value of the house to refinance.

Payments may be reduced, not merely postponed
Current mortgage plan training, as a rule, allow more flexibility with payments, but rarely reduce the amount of debt that is a factor, most experts refer to these measures can not stop the foreclosure crisis. Obama, the program focuses on affordable monthly payments from taxpayers and lenders to reduce the cost of interest rate and principal amount on which borrowers can actually repay.

Pay for borrowers and lenders for success
Mortgage Company will receive upfront fees $ 1000 for the right of each modification. They will also receive a fee for the success fees - awarded each month until the borrower is current on the loan - up to $ 1000 per year for three years.

Remove the uncertainty around the continued decline in prices
To encourage lenders to modify more mortgages and allow more families keep their homes, the Administration and the Federal Deposit Insurance Corp. have developed an insurance fund (of up to $ 10 billion) that would pay the mortgage holders for each modified loan, if the house price index decreases.

Institute a consistent, clear guidelines to modify loans
Treasury will develop uniform guidelines for loan modifications mortgage industry. All financial institutions receive money from the crisis in the future it will be necessary to implement the loan modification plan in accordance with the guidelines. Fannie Mae and Freddie Mac will use these guidelines for their own loans or guarantees, and the Obama administration will work with regulatory authorities and other federal and state authorities to implement these guidelines throughout the mortgage market.

Top financial milestones before 30

1. Scale back the credit cards. "So many people credit chesalnye it up," says Sarah Young Fisher, 53, president of financial-planning firm Kuntz Lesher Capital in Lancaster, Pa.: "I am an old lady. When I started, then T could get credit cards without work. Now they are just send it to you, and people do not realize how much time will be required to pay for him to leave at 20% interest. "

The average credit card debt among 25 - 34 year olds was $ 5,200 in 2004, according to credit card research firm CardWeb.com. That is at the top of an average of $ 19,200 in student loan debt carried recent students.

Young Fisher said 30-year-old should be a living on wages "- without taking credit card debt - and save at least 10% of the total wages in the future. "If not," she said: "You will not be able to retire."

She recommends investing in Microsoft Money or Quicken - a convenient software that allow you to track income, expenses and investment, and can be programmed to help with taxes and objectives.

2. Own home - or plan. Young Fisher argues that the housing must be a priority for those who rent. "Start saving for a down payment," she said. "If you find that you like, or change the life comes together (for example, a child or a move), but you do not have money, you're going to take or receive interest only mortgage - which is ridiculous."

When you buy, she said: "buy what you can afford, not what you love." And do not forget the new costs that come with the house - a lawn mower repair furnaces and snow shovel.

3. They have skills. Even for those who do not consider themselves as entrepreneurs, the majority of workers should expect changes in some employers and job titles throughout their careers. "By the time you're 30, you should develop a set of marketable skills," said Greg Fisher, 35, founder Gershtein Fisher, New York financial planning company. "Try to bring something new to the table."

The model works in the same company for 30 years and retired with a gold watch is now two generations obsolete, said Fisher, who founded his company - which serves customers mainly in the age of 45 - at the age of 21.

Today's workers need to differentiate themselves in order to survive and thrive, said Fischer. "It's for hire. If you work for a company, you have only one client," he said. "If they fire you, you're offside."

4. Give money. No, not the credit card company in the form of 24.99% interest rate payments. Instead of establishing regular charitable giving plan, said Scott Hanson, founder of financial planning firm Hanson McLean.

"I think it is financially healthy to give," said Hanson, who also hosts a financial show of Call-Sacramento, CA Speaking of customers and subscribers, it has come to believe that we are emotionally deprived state, which spends feel good. When we feel down, we head to the mall.

Hanson believes that the good Vibes considered one of the reason for making that can also create a feel-good factor - one more important than a new CD or a 80% discounted cashmere sweater. "Giving money to put it in perspective," he said.

5. Know thyself. Introspection is not just for middle-aged guys with ponytails living on a rock in Japan. Having a firm grasp on your priorities and values is a critical component of financial life.

For example: There are impressive to your friends and a stranger one of your core values? No? Then why is that expensive leased SUV sitting in your driveway? "Start with yourself to know and build your life in such settings, and the money line with those parameters," said Hanson.

"People have proved that their goal is even to zero before they go. Once we have a roof over our head and food on the table that none of the

Other things really going to bring that much joy, "said Hanson." Money is not important. You will never have with pleasure, if it exists. "

6. Know smart people. It is very important to have strong advisers in your life, Young said Fisher. Knowing well the tax preparation, financial adviser, lawyer and insurance agent can save you untold amounts of money and stress. "If you need someone to get a good comrade," she said.

Things Not to Share with Your Co-workers

1. Salary Information
What you earn is between you and Human Resources, Solovic said. The disclosure indicates you are not able to maintain credibility.


2. Medical history
"Nobody is taking care of their pain, their latest operation, your infertility woes or the contents of your medicine cabinet", Lopeke says. For your employer, your constant medical issues make you seem expensive, high-risk employee.


3. Gossip
What you're gossiping with will undoubtedly tell others what you said, Solovic said. Plus, if the worker is gossiping with you, the more likely he or she will gossip about you.


4. Job Complaints
Constant complaints about your work, stress levels and the company quickly make you such a man who never gets invited to dinner, Solovic warns. If you do not agree with company policy and procedures, address it through official channels or move on.


5. The cost of buying
The spirit of keeping pace with the worse is alive and well in the workplace, Lopeke said, but you do not want others speculating on the life you live, or if you live outside of your salary bracket.


6. Intimate details
Do not share intimate details about your personal life. Co-workers can and will use that information against you, Solovic said.


7. Politics and religion
"People have a strong and passionate views on both topics", Solovic said. You can dispose of the staff member or a negative way that could affect your career.


8. Lifestyle changes
Breakups, divorces and baby planning decisions should be shared only if there is a need to know, Lopeke said. Otherwise, others will speak for your capabilities, desires and limitations on the availability, whether there is any truth of their assumptions or not.


9. Blogs or social network profile
What you say in the social networking community or in your personal blog, perhaps even more damage than what you say in person, Solovic warns. "Observations on the network, you can see many eyes. Outbursts of anger, when you're having a bad day ... can blow up in your face."


10. Negative views of colleagues
If you do not agree with one of the workers' lives, wardrobe or professional abilities to confront an individual, or keep it yourself, Lopeke said. Workplace, not the place for disputes.


11. Hangovers and wild weekend
This is ideal for entertainment on weekends, but do not talk about his wild adventures on Monday, Solovic advises. This information can make you look unprofessional and unreliable.


12. Personal problems and relationships - in and out of the office
"Do not marry and volatile romances spell instability to an employer", Lopeke says. Office romances lead to gossip and broken hearts, so it is best avoided. "The safest way to play is to follow the rule, 'Never get honey, where you get your money."


13. Off-color or racially charged comments
We can assume that your employee will not be offended or something seems funny, but you probably will not, Solovic said. Never take that risk. Moreover, even if you know some of your colleagues do not see your comment, do not talk about it at work. More easily overhear.

Taxpayers may need to plan (3)

Breaks by coach

Mass public transit is to obtain great profits, too. Right now you can pay some of your commuting expenses with pre-tax dollars - if your employer offers this respire. Stimulus bill increases the maximum dollar amount of the right in accordance with the spirit of get up to $ 230 for transit passes and van pooling, compared with $ 120, according to CCH. This change is the restriction of transit under the $ 230 has already allowed for parking expenses.

Business Breaks

The bill reduces the incentives necessary estimated tax payments people in business should do in 2009. "This does not exclude any of the tax must be paid for," said Rosica. "You are still responsible for your full tax bill come tax filing time in 2009, but it will allow greater conservation of cash throughout the year."

There are also more incentives for small businesses in the bill, including the extension of the current section 179 and by bonus depreciation provisions.

What other incentives bill in 2008 increased the Section 179 expense deduction of up to $ 250,000 to $ 128,000, and offers 50% bonus depreciation, which allows some businesses to immediately write off one half of the cost of capital expenditures. This stimulus bill allows these benefits in 2009 as well.

Small firms also benefit from net operating loss carry-back provision, which allows them to utilize existing losses offset income tax in previous years. Already, the firm can do that for the last two years, but the stimulus bill extends that to five years.

While early projects offered an incentive plan that break to all of us, the final bill limits it to those with $ 15 million or less in gross revenue.

This is a hit for big companies, who hope to collect about Quick Cash to invest in their firms, said Clint Stretch, managing director of tax policy at Deloitte Tax.

But some lawmakers say, might have missed an opportunity to stimulate more business activity.

"Our best estimate is that taxpayers with less than $ 15 million in gross proceeds are 98% of all corporations, but only 5% of taxable income, so Congress has covered the majority of corporations, but not those which accounted for 95% corporate activity tax, "said Stretch message Friday.

Andrea Coombes is an assistant personal finance editor of MarketWatch, based in San Francisco.


Copyrighted, MarketWatch. All rights reserved. Republication or redistribution of MarketWatch content expressly prohibited without the prior written consent of MarketWatch. MarketWatch shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon.

Taxpayers may need to plan (2)

Loans to employees

Those taxpayers who are entitled to "make work pay" credit - up to $ 400 per employee and $ 800 for couples - you may need to assess their retention of the credit begins to show in their salaries.

Loans in 2009 and 2010, was trimmed to $ 400 per employee per year, of a stimulus bill to pay $ 500.

Credit begins to phase one filers with adjusted gross income of $ 75,000 and married filing joint filers with AGI of $ 150,000. Loans are not available to taxpayers with AGI topping $ 95,000 per filers and $ 190,000 for joint filers, according to CCH.

It is not yet determined exactly how a loan will be repaid. Although some experts say the tax, employers will automatically adjust workers' wages, while others say not so.

"There, there will be a choice between it as a credit on your tax refund or subtracted from the payroll taxes," Luscombe said. "I think that the employee will have to make some contributions on this issue, not an employer automatically start deduction. Some people may have proposed a revised W-4 must be submitted [to] reflect the year-choice."

This means that workers will have to decide if they want to cash their salary or tax refund later. Given the variability of individual tax situations, some taxpayers may find the loan results in a greater-than-expected tax refund to come again in April 2010 - or account for money owed (if, say, a couple of general revenue picture means that they 're unable to claim the credit, but one of the spouses received in any case).

Meanwhile, some fixed income - including those who receive social security, railroad retirement and veterans benefits - will receive a one-time payment of $ 250, compared with $ 300 in the previous draft law.

Child Education and Breaks

There are the children? If you are low-income taxpayer, you can take advantage of the expanded child tax credit. This refundable credit worth up to $ 1000 per child, currently starts kicking in the earnings of $ 3000 and above, compared with the current law of $ 8500 and above, according to CCH. Low-income taxpayers also benefit from the expanded earned income tax credit.

Meanwhile, higher-income taxpayers have access to valuable Hope College-credit education, the expansion of up to $ 2500, the form of $ 1800 now, and moved in accordance with the stimulus bill for U.S. tax credit opportunities.

"It appeared as 100% of costs eligible for up to $ 2000 plus 25% of costs above $ 2000, so that someone is a total right cost $ 4000 or more to reach the maximum amount," according to a press release on the CCH .

Credit stages, when adjusted gross income hits $ 80000 at one filers or $ 160,000 for joint filers. This means that more people have the right: Under current law, Hope credit phase-out begins in 2009 with $ 50000 per filers and $ 100,000 for married filers.

Taxpayers may need to plan (1)

If you ever sit down and reason it is necessary to do some tax planning, the new $ 787 billion fiscal incentives bill - including about $ 300 billion of tax benefits - is good.

From earlier than the usual red flag, which could fall into the alternative minimum tax this year, the new issue of salary deduction, the bill the president signed Obama on Tuesday to encourage taxpayers to consider how best to reduce taxes next year.

Of course, there are some straight-up tax breaks that do not necessarily require a lot of tax planning as such.

Unemployed people will find their first $ 2400 of benefits is taxed, and they can claim to reduce health insurance premiums through their former employer's group plan, or "Cobra".

There, in the $ 8000 tax credit for first time home buyers who buy between 1 January and 1 December, 2009 - the loan will not be refunded, as opposed to $ 7500 titivate available in 2008.

But there is one aspect of home purchase loan, which may require planning: You can claim a credit on your 2008 taxes, even if you bought a house in 2009, according to Mark Luscombe, principal analyst of CCH Inc., Riverwoods, Ill., tax publisher and a unit of Wolters Kluwer.

"There may need to be a little IRS instruction on this issue, because [2008] forms and instructions, probably does not currently provide $ 8000 credit, he said." But it is quite clear that to make that election will not change in 2009 for the purchase of 2008 purchases. "Home purchase loan begins for taxpayers with adjusted gross income above $ 75,000 for a single filers and $ 150,000 for joint filers, according to CCH.

Then, there is above the line deduction for sales tax on the purchase of a new car in 2009. You can deduct the tax on the purchase price up to $ 49500. Luscombe warned that taxpayers should not take this deduction and itemized deduction for state sales taxes. This deduction for buying a car on the stages of AGI of $ 125,000 for individual files and $ 250,000 for joint returns. According to CCH, a new car loan only to vehicles bought on or after the date the Act enters into force.

AMT relief

Because of the incentives bill, taxpayers now know exactly the alternative minimum tax exemption amount earlier than usual. Over the past few years, Congress waited until the end of the year to take "patch" that allows more taxpayers falling into this parallel tax system. Exemption reduces the amount of income taxed at a rate of AMT.

Knowing, in 2009, is currently the exception of - $ 70,950 for joint filers and $ 46,700 for single and head of household filers - gives taxpayers more time to run scenarios to see where their tax bill is likely to fall, and find out how to lower that expense. (There was no patch for this year, these figures would have gone back down, only $ 45000 for couples filing jointly and $ 33,750 for individuals, according to CCH.)

"It is expected a little tax help, probably will not be very stimulating, but it will reduce uncertainty and help people plan their tax moves at the beginning of the year," said Luscombe.

"As a result, AMT exclusion is going up, fewer people should be AMT," said Greg Rosica, tax partner at Ernst and Young LLP, in a conference call with reporters on Friday.

8 ways to increase your income

With credit drying and the economy are sinking, more Americans are relying on their savings to make ends meet - even after slashing its costs - according to a survey by Country Financial, a group of insurance and financial services companies.

And Americans who rely on their savings the most are young people, with 58% of them use their reserves.

This news is disturbing, because, let's face it, most Americans - especially those of us just to start - not much savings in the first place. And talk accounts such as 401 (K) and S IRAS could be costly consequences of an early lifting of sanctions to reduce the compounding of return (see "Do not take the issue").

So that tied the man to do? First, if you have not looked at ways to reduce costs, check out our ideas bevy of "91 ways to save almost everything." (Also see "How to build your first budget.") Then, if you're still coming up short, you RAID security net savings, consider adding to your income with these eight ideas:

1. Sell your garbage
One man in the trash is a false treasure. A website gives girth to hold a virtual garage sale. For example, a few hundred dollars from the sale of old books at Amazon.com.

Craigslist and eBay and other large sources of Hawking your goods online, from old furniture and equipment for fitness and apparel collections. And gold prices hovering near record levels, it can even sell your old jewelry.

You can also find buyers for your old tech equipment for reuse or recycling. For example, CellforCash.com pays up to $ 100 for mobile phones that are used depending on the model. A Hewlett-Packard offers a trade-in program that allows you to swap your old computer and other tech gear for the money, even if they are not HP. Before selling a computer or other gadget with personal information on it, wipe clean the memory. See Kiplinger in "What can I do that with its high-beens" for more information.

2. Get the job
This may mean getting a second job, or it may mean getting a first job to hold you until the labor market recovers, and you can land your dream position.

Retail, restaurant and customer-service jobs are a prime target. You can also search for part-time or short-term gigs on Craigslist for small income stimulates. For example, we found odd jobs such as stuffing envelopes for two days, and to assist in every nursery in the holidays. (For details, see "Need odd? Give blood, watch porn" and "20 ways to make more than $ 100 a month.")

And if you are unemployed, because you're already waiting for the right opportunity, you can Bide your time and still bring home a salary of full-time or part-time "steppingstone" to work with an employer that offers good benefits.

3. Sell your skills
You may have skills that someone is willing to pay. For example, you can teach music, art or needlework? How about a regular dog-walking or babysitting concert with a neighbor or family member?

If you are academically minded, it is possible to mentor students. It may also be a mentor, if you know another language, or you can find a flexible translator. Ask yourself what you're doing well and are creative.

4. Reorganization of your rent
If you are living alone, getting a room can increase your income (and reduce some costs in half). You may consider renting other premises such as a garage for your storage or parking for the public transport if you live close to public transport.

Another option to consider the apartment management. In exchange for maintaining the home and deal with people, you can get free or discounted rent. You can find an apartment, as a rule, the management capacity of the working lists.

5. Claim unclaimed assets
States sitting on billions of dollars in unclaimed assets, including loss of bank accounts, improperly bonds and securities, dividend checks uncollected utility deposits and unclaimed life insurance benefits, according to the National Association of Real Estate Administrators. Check MissingMoney.com, free web site to see whether the money belongs to you.

6. Adjust your withholding tax
If you receive a tax refund last year, and your financial situation has not changed much, too much tax is currently withheld from your salary. Try our easy to use calculator to figure the correct amount of benefits you can claim to be raising your hand to pay. All you need to do is file a new Form W-4 (. PDF-file) with your employer.

You can also adjust your withholding allowances if you are married, have children or bought a house last year.

7. Payment for the material you are still
You have to buy things - food, gas, medicine, etc. - So why not buy them at a discount card to get cash back in your pocket? (See "15 most rewarding credit cards.) Just make sure that pay off your balance each month so you do not accrue interest.

You should also make sure that you get so much of your savings as you can. Do not park cash in a traditional bank account earn money on the interest. Instead, go with a high yield online banking account. Most of these payments in the range of 2% at present. (See "Where to save cash now.")

Plus, if you travel frequently for work, consider the use of their credit card to purchase flights and submit for reimbursement (if your employer can pay you back within 30 days if you do not have to pay interest). Thus, you can get more credit card offers points on the top of the free-flier miles for your personal use.

8. Hit up Mom and Dad
Moving back home (if your parents are ready to take you to) for a short period of time is another way to put more money in your pocket to help with the hard ground. But the fact that a request for Mom and Dad or a close friend of the site you cash right?

You can increase your chances of getting help if you're looking for, you approach a business transaction. If you ask for money, the next thing out of your mouth should be, and, behold, I will pay it back. " You can even offer to pay interest and set it up as a public, though administered by the Virgin Money credit.

It also helps if the move represents a rare instance - say, to you through separation, divorce, health crisis or other short-term cash crunch. If you're constantly hitting up friends and family for money, you need to address the root problem of cash and fix it, or you can find friends and broke.

If your friends or family do not say, respect their decision. Loan money may simply be beyond their level of comfort. This does not mean that they love you less, and may simply mean that they do not want to risk straining your relationship.

Actors, baseball legends on Madoff client list

NEW YORK (AP) - Hall of Fame pitcher Sandy Koufax. Actor Kevin Bacon. World Trade Center developer Larry Silverstein. All three, at least one thing in common: their names appear in the list of several thousand customers who lost money investing with Bernard Madoff. This list was made public in a court filing in U.S. Bankruptcy Court in Manhattan.

The list came late Wednesday, shortly after a whistleblower in the case, Harry Markopolos, told lawmakers at the House hearing that he found that the additional funds have been brought to the Madoff Investment in Europe - and that the leaders of these "feeder" funds can ignore the signs massive fraud scheme.

He plans to present its findings to the Securities and Exchange Commission on Thursday, the inspector general. If proved, they would justify the approval of many analysts that the alleged fraud was too great for Madoff spent alone.

House lawmakers on Wednesday also sparred with SEC officials, accusing them of impeding their probe, as the agency was unable to identify the alleged fraud.

Prosecutors say Madoff admits he lost more than $ 50 billion of investors. Defense lawyers say that he cooperated with authorities to help identify the assets.

Client list of names, including relatives Madoff, numerous celebrities, dead people and charities that are listed in the 162-page document. Each page has 84 single-spaced lines. Some clients are listed multiple times, perhaps because they have multiple accounts.

Clients known to people and institutions that have already been publicly revealed, for example, Wilpon family, owner of New York Mets.

There have also been listed for more than two dozen bills related to the Mets and companies associated with their owners, many were listed with addresses at Shea Stadium.

The amount of each person or institution invested with Madoff is not listed.

One client Ira Sorkin, a lawyer who defends Madoff against charges he committed the biggest financial frauds in history. Others include Madoff wife, son, brother and other relatives.

This list was compiled AlixPartners LLP, Dallas company hired, as the agent for the trustee control over the liquidation of Bernard L. Madoff Investment Securities LLC.

Madoff has not been charged. He is being held under house arrest in his multimillion-dollar penthouses.

5-minute guide to saving for college

By 2020, you'll need an estimated (and heart-stopping) $225,000 to put Junior through a private college or $105,000 for a public university.

Conventional wisdom says the sooner you start saving, the more funds you'll accumulate.

No one savings method is perfect for every family. Consider your tax bracket, your child's age, how much control you want over your investments and how much financial aid you expect to get.

Do your research
First, figure out how much you'll need to save, using your child's age as a yardstick.

Then start comparing plans. Here are the most common methods:

529s, the state-sponsored investment accounts, let you put aside money for college. The money grows tax-deferred and is tax-free when withdrawn to pay qualified education expenses. In addition, for families with multiple children, funds can be moved from one 529 to another, depending on which child can best use the money. When choosing a 529, however, look hard at the fund's commissions, fees and performance.
Coverdell Education Savings Accounts allow earnings to grow tax-deferred and distributions to be tax-free when used to pay for college or technical school. You can contribute up to $2,000 a year and withdraw money tax-free for K-12 expenses. However, unless Congress extends the benefits after 2010, the maximum annual contribution to a Coverdell will fall to $500 and K-12 expenses no longer will qualify.

Prepaid tuition plans allow parents to lock in future tuition at current rates. These tax-deferred plans are designed to remove investment risk. However, some plans allow saving only for tuition, not room and board, which means you'll need an additional source of funds.

U.S. Savings Bonds purchased after 1989 may be redeemed tax-free when the bond owner, spouse or dependent uses the proceeds to pay college tuition and fees. However, the bonds' safety is balanced by low returns, and the tax exclusion is phased out for higher-income tax brackets.

Custodial accounts, which include those under the Uniform Transfers to Minors Act and Uniform Gifts to Minors Act, are not as popular as they once were. Accounts are opened in a child's name, and the income is taxed at the child's rate rather than the parents' presumably higher one. However, 2006 legislation changed "kiddie tax" rules so that children have to wait until they turn 18 to take full advantage of the lower tax rate. In addition, colleges consider custodial accounts to be the students' assets, which count against them in financial-aid packages.

Individual retirement accounts are a method of last resort. Early-withdrawal penalties are waived when Roth or traditional IRAs are used to pay qualified post-secondary education costs for you or your family. However, cashing out could leave you in a bind at retirement time.

Are you running out of time?
If your child is older than elementary-school age and you haven't started saving yet, you still have options.

Assume you'll get financial aid -- just not enough. If you're counting on a lot of aid, you will be unpleasantly surprised to learn how much colleges expect you to contribute.

Start saving now. Even if your savings reduce your aid package, any money you put aside will help reduce the amount of debt later.

A little extra couldn't hurt
Depending on your child's age, look for ways to add to your college fund. Try these ideas:

If your baby is on the way, have a "send my baby to college" shower. Set up a college fund and let guests know how to make deposits.

If you have an infant or toddler, be as aggressive in your investments as your comfort level allows.

For an elementary-age child, set up a savings account together so he or she can be invested and involved in college plans.

If your student is starting high school, move your college fund to safer, less-volatile investments.

No matter how old your child is, consider participating in credit-card rebate and loyalty programs, such as Upromise or BabyMint. Similar to airline frequent-flier programs, these provide rebates or credits to a 529 account in exchange for shopping at particular retailers or purchasing certain products.

When college bills are looming, look for ways to cut costs.

You're on your way
Once you select a method of saving and set it up with the appropriate investment professional, nurture your investments -- both the funds and the kids.

Be enthusiastic about your child's early schoolwork. Kids who love to learn early on grow up to be good students -- and therefore can get scholarships not otherwise available.

Set small financial goals just as you would any other long-term investment.

Use automatic withdrawal so your determination to save doesn't waiver when you write the monthly check.

Increase the amount you save each year to keep up with tuition inflation.

And remember . . .
Some final thoughts:

Don't pay for your child's college at the expense of your own retirement. Your child will have more sources of money for college than you will have for your golden years.

You don't have to save the entire cost of four years of college. Grants and loans can bridge the gap between your savings and tuition bills.

Be flexible. Programs and investments continue to evolve. Tax laws and your own circumstances will change. Review your financial situation periodically and make appropriate adjustments.

This year, I will keep more cash

With the recent turmoil in financial markets and the prospects for continued economic recession in 2009 could be the year you finally make good on your determination to start an emergency fund, repayment of credit card debt or beef your retirement kitty. Our guiding principles for cutting your costs and save on taxes is guaranteed to put money in your pocket - and your savings accounts.

1. Get your expenses under control with the help of free online budgeting site like Mint.com. This is a secure site tracks your checking, credit cards and investment accounts and proposals for money-saving tips, such as where you can cut costs or better rate on your credit card. Other free sites, including Wesabe and Geezeo, offer a similar budget, and pay more attention to their online communities where users share strategies.

With meat and potatoes of your finances outlined, it would be easier to see where you can cut the fat. For example, assuming that you and your significant other pay on average $ 33 per person for meals at the restaurant (according to a recent survey Zagat) and 7 dollars for a ticket to the cinema, one less than the date of the night a month will save a total of $ 960 per year.

2. Installation of flexible spending account to help pay for medical expenses. If your employer offers this benefit, you can save pretax dollars in the account and use the money to pay from their own bills, including doctor co-payments, prescription drugs, eyeglasses, and braces for children's teeth. You can even spend the money on more-prescription medications such as antacids and more relievers.

Flex account, you can save hundreds of dollars in federal, Social Security, and in most states, state income taxes. For example, if you have a 25% tax bracket and you put $ 1450 in your account - the average premium for the year 2007 - you need to save $ 546 per year, with 5% of tax revenue the state and 7.65% for FICA tax. Plus, you can use the full amount at any time, even if you have contributed only a few months.

When using it or lose-it rule, you can lose money left in the account at the end of 2009. But many companies now offer a grace period until 15 March next year. In fact, if you have money left over from 2008, regarded it as a bonus to help pay for basic expenses at the beginning of 2009.

3. File a new Form W-4. If you receive a tax refund for 2008, setting retention will fatten your salary for 2009. The average refund of about $ 2400, you may be entitled to three additional benefits. In the 25% tax bracket, that could increase your hands on to pay $ 2625 a year.

4. Raise your insurance deductibles. The increase in car insurance deductible from $ 250 to $ 1000, you can save up to 15% on insurance premiums - or about $ 125 a year on average, $ 829 prize. Upping the franchise for the homeowners' policies can slice your rate by about 25%, or $ 191 on average, $ 764 prize.

5. Cut the cost of credit. If you tend to carry a monthly credit card balance to low interest rates, maps, such as Wells Fargo Prime Rate card with 5% interest rate, a $ 19 annual fee. For gasoline or travel benefits, try BP Visa card or> Simmons First Visa Platinum Travel Rewards Card.

If you want to pocket cash rebates, to consider the American Express Blue Cash card. You get 1% rebates on gas, food and drugstore purchases, and you will get 0.5% back on everything else. Big spenders can Bump they pay up to 5% and 1.5%, respectively, after declining $ 6500 a year. Charge of $ 15,000 from everyday purchases to save $ 490.

6. Open an account online savings, such as the one at www.fnbodirect.com, which was recently paying 3.25%, or about $ 100 a year for $ 3000 deposit. You can open an account is only $ 1, but are no monthly fees or minimum balance requirements. To avoid the temptation to spend all the money that is lining the pockets through our first five councils, set up an automatic monthly transfer from your current account, or distribution of part of your salary deposited directly into a new rainy day fund.

7. Bump your 401 (K) contributions. Already have a stash of emergency? In the stock to sell, now a perfect time to build - or rebuild - your retirement kitty. In 2009, contributions to 401 (K) accounts rises to $ 16,500, and you can add another $ 5,500 if you are 50 or older by the end of this year. Contributions are not subject to federal or state taxes, so the load on the full $ 16,500 will save you $ 4950 in taxes for the year from 25% federal tax bracket and 5% of the state income tax.

Can not afford the maximum contribution or you want to use a portion of your savings for something else? Try to start, at least enough to capture any employer match.

Stocks new year with same problems

After a whirlwind end-of-year rally, investors are back to playing it cautious as the economic news worsens.

NEW YORK (CNNMoney.com) -- As Friday's abysmal jobs report made all too clear, Wall Street's whirlwind holiday romance has ended. Investors are back to reality.

Stocks, as demonstrated by the S&P 500, rallied 8% in the last week of December and start of January. But in the first full week of 2009 trading on Wall Street, stocks erased half of those gains. A brutal jobs report, a rash of miserable retail-sales numbers, and profit warnings or job cut announcements from venerable firms such as Alcoa, Intel and Wal-Mart Stores were to blame.

The week ahead is likely to bring further testaments to the ongoing recession, specifically the weak consumer spending environment. Retail sales are expected to have dwindled in December, and reports on pricing pressures at both the consumer and wholesale levels are expected to show declines. With so many people out of work and cash-strapped, there's little room for prices to move up.

Next week also brings the start of the quarterly reporting period, which begins with Dow component Alcoa, as is traditional. Intel and Merrill Lynch are the only other marquee names due to report next week, with the bulk of earnings releases due closer to the end of January. (For a preview of bank earnings due out later this month, click here.)

"The worst damage to the economy has probably already happened, but we're going to keep seeing the messy aftermath in the months ahead," said Larry Glazer, managing director at Mayflower Advisors.

Wall Street has almost gone through its own version of the stages of grief in regards to the recession, he said: "Earlier in 2008 there was a denial of what was happening, then panic set in during the fall, and now we are in a period of acceptance."

Glazer belives that 2009 will be a year of investors trying to rebuild confidence in the market.

On the docket
Monday: Alcoa (AA, Fortune 500) is expected to report a quarterly loss of 5 cents per share after the close Monday, according to a survey of analysts by Thomson Reuters. The aluminum producer and Dow component earned 36 cents per share a year ago.

Tuesday: Federal Reserve Chairman Ben Bernanke speaks at the London School of Economics before the start of U.S. trading.

The House Financial Services Committee holds a hearing on usage of the Troubled Asset Relief Program (TARP) funds, a.k.a. the $700-billion bank bailout.

Wednesday: The nation's chain stores released dismal December sales figures last week. This week, the Commerce Department releases the composite number, and it's expected to be equally gloomy. Retail sales are expected to have fallen 1.1% after falling 1.8% in November. Sales, excluding volatile autos, are expected to have fallen 1.2% after falling 1.6% in November.

Also Wednesday, the government releases its November business inventories report. Inventories are expected to have fallen 0.5% after falling 0.6% in October.

And in the afternoon, the Federal Reserve releases its periodic "beige book" survey of the economy.

Thursday: While pricing pressure hasn't been much of an issue at this point in the recession, investors will still keep an eye on the week's inflation reports.

The Producer Price index (PPI), a measure of wholesale inflation, is expected to have fallen 1.9% in December after falling 2.2% in the previous month. Prices, excluding volatile food and energy costs, or the Core PPI, are expected to have risen 0.1% after rising 0.1% in November.

The Philadelphia Fed index, a regional manufacturing report, is also due Thursday. The January index is expected to have fallen to negative 35 from negative 32.9 in December.

Merrill Lynch (MER, Fortune 500) reports results before the start of trading and is expected to have lost 16 cents per share after losing $12.57 cents a year ago. Intel (INTC, Fortune 500) reports results after the close. The chipmaker is expected to have earned 10 cents per share after earningsof 38 cents per share a year ago.

Hearings on the nominations of various members of Obama's cabinet are happening in Congress this week. On Thursday, the Senate Finance Committee holds the confirmation hearing for Timothy Geithner as Treasury Secretary.

Friday: The December Consumer Price index (CPI)is expected to have fallen 1% after falling 1.7% in November. Core CPI is expected to have risen 0.1% following a flat reading in November.

Later in the morning, the University of Michigan releases its preliminary consumer sentiment index for January. Sentiment is expected to have dipped fractionally to 60.0 from 60.1 in December.

Stimulus can save 4 million jobs

Obama's proposal targets alternative energy and infrastructure for investments he says will save existing jobs and create new ones.

WASHINGTON (Reuters) -- President-elect Obama said Saturday an analysis of his stimulus proposals shows that between 3 million and 4 million U.S. jobs could be saved or created by 2010, nearly 90% of them in the private sector.

The analysis of Obama's estimated $800 billion plan to lift the country out of a year-long recession was submitted by the chair of his council of economic advisers, Christina Romer, and by Vice President-elect Joe Biden's chief economic adviser, Jared Bernstein.

Obama announced the report on his weekly radio and Internet address. He had previously said his American Recovery and Reinvestment Plan would create or save 3 million jobs, but said the analysis from his advisers showed that number would range between 3 million and 4 million.

"The jobs we create will be in businesses large and small across a wide range of industries," Obama said. "And they'll be the kind of jobs that don't just put people to work in the short term, but position our economy to lead the world in the long-term."

His radio address comes just after official figures showed U.S. employers slashed more than half a million jobs from their payrolls in December, pushing the unemployment rate to 7.2% and bringing the total number of jobs lost last year to 2.6 million - the most since 1945.

Obama said his plan would create nearly 500,000 jobs by investing in clean energy, by committing to double the production of alternative energy in the next three years and by improving the energy efficiency of 2 million American homes.

"These made-in-America jobs building solar panels and wind turbines, developing fuel-efficient cars and new energy technologies pay well, and they can't be outsourced," he said.

Repairing infrastructure
Obama also said the report showed the recovery plan - which analysts have estimated will cost about $800 billion - will also put nearly 400,000 people back to work repairing infrastructure like crumbling roads, bridges and school and laying down miles of broadband lines.

"Finally, we won't just create jobs, we'll also provide help for those who've lost theirs, and for states and families who've been hardest-hit by this recession," he said.

"That means bipartisan extensions of unemployment insurance and health care coverage; a $1,000 tax cut for 95% of working families; and assistance to help states avoid harmful budget cuts in essential services like police, fire, education and health care."

Obama, who has faced tough opposition from both Republican and Democratic lawmakers over his recovery plan especially regarding tax cuts, repeated a warning that recovery will not come overnight and the situation could likely get worse before it gets better.

"But we have come through moments like this before," he said. "I am confident that if we come together and summon that great American spirit once again, we will meet the challenges of our time and write the next great chapter in our American story."

Though Obama did not mention it in the radio address, the report suggested that tax cuts, especially temporary ones, and fiscal relief to the states are likely to create fewer jobs than direct increases in government purchases.

"However, because there is a limit on how much government investment can be carried out efficiently in a short time frame, and because tax cuts and state relief can be implemented quickly, they are crucial elements of any package aimed at easing economic distress quickly," the report said.