As you move back into the daily routine of a new year and ten new, here's a checklist of 10 things you should do to make better use of your money. We have become savvier consumers and reduce the costs. So if there is a dominant theme of the consumer, in 2010, it will be to find a lot of small economies, particularly in rates and fees are often hidden. Transparency should be your friend.
Know what you spend.
Do not really know where the money goes? Spending patterns often can hardly get cable in our behavior. Manufacturers like it because it is easier for them only when you pay money every month without thinking about it. But you should think about how money is spent and, in particular, where you can spend less of it.
Make a budget.
When you actually know how much money spent, it's easier to make a budget. Budgets are an essential discipline if you are serious about being a master of money.
Stick to your budget.
Each month, previous month's expenditure review and compare them with your budget. After several months, this will cease to be subjected to torture can be an effective planning and support.
Have fun some money.
If the budget is all drudgery, you will wind up in prison for money and that's a bad place to be. So set aside money to have some good times. Construction, such rewards may provide incentive to stick with your budget.
Check credit card and bank charges.
Look carefully for new charges interest charges. Banks must implement new pro-consumer laws and seek ways to recover the expected reductions in income taxes late, overdraft payments, higher taxes and interest. Spend some time reading the new disclosure statements on your cards and accounts.
to be continue
Sunday, March 21, 2010
Saturday, March 13, 2010
The world's 5 richest of the rich
No. 1: Carlos Slim Helú / $ 53.5 trillion / telecom
Mexico Telecom Tycoon, who pounced on the privatization of the national telecommunications company in the 1990s, is the world's richest person for the first time after he came in third place last year. Net worth up $ 18.5 billion a year. Recently received regulatory approval to merge its fixed-line resources to America Mobile (AMX), Latin America's largest mobile-phone company. His construction conglomerate, Impulsora del Desarrollo y el Empleo, build roads and energy infrastructure.
Son of Lebanese immigrants also owns stakes in financial Inbursa (GPFOY), Bronco Drilling (BNRC), Independent News & Media, Saks (SKS) and The New York Times Co. (NYT). Newspaper company shares jumped in early March to talk Slim can buy a controlling stake, he denied the rumors. Donating $ 65 million to fund a research in genomic medicine with American billionaire philanthropist Eli Broad.
No. 2: Bill Gates / $ 53 trillion / Microsoft
Software Visionary is now the world's second richest man. Net worth is still up $ 13 billion in a year that Microsoft (MSFT) shares rose 50% in 12 months, the value of the investment vehicle Cascade Investments also swelled.
More than 60% of assets held outside of Microsoft; investments include Four Seasons Hotels, Grupo Televisa (TV) and Auto Nation (AN). Stepped down from day to day duties at Microsoft in 2008 to focus on philanthropy. Bill & Melinda Gates Foundation dedicated to fighting hunger, improving education in U.S. high schools and developing vaccines against malaria, tuberculosis and AIDS.
No. 3: Warren Buffett / $ 47 trillion / investments
America's premier investor up to $ 10 billion in the last 12 months on rolling Berkshire Hathaway (BRK.A) shares, says the U.S. has survived "economic Pearl Harbor", but warns recovery will be slow. Wisely invested $ 5 billion in Goldman Sachs (GS) and $ 3 billion in General Electric (GE) during the 2008 market collapse. Recently bought railroad giant Burlington Northern Santa Fe for $ 26 billion.
"We have put a lot of money to work during the chaos the past two years," said Buffett. "When it rains gold range for a bucket, not a thimble."
Berkshire Hathaway book value was up 19.8%, to $ 21.8 billion in 2009. Son of Nebraska stockbroker met value investor Benjamin Graham while he was studying economics at Columbia University. Took over textile firm Berkshire Hathaway in 1965, used the company as a vehicle to invest in insurance (GEICO), food (Dairy Queen), utilities (MidAmerican Energy) and recently, green tech (electric-car maker BYD).
No. 4: Mukesh Ambani / $ 29 trillion / petrochemical, oil and gas
Global ambitions: His Reliance Industries, is already India's most valuable company, recently bid $ 2 billion for 65% of the shares in the troubled Canadian oil sands outfit Value Creations. Company's $ 14.5 billion offer to buy bankrupt petrochemical maker LyondellBasell was rejected. Since September, the company has sold Treasury shares worth $ 2 billion will be used for acquisitions.
Late father, Dhirubhai founded Reliance and built it into a massive conglomerate. After the elder Ambani's death, Mukesh and his brother Anil, ran the family business together for a short time. But the brothers feuded over control, the mother finally brokered a split of assets, Mukesh get energy, oil and gas and petrochemicals businesses. Still at odds with Anil over gas supply agreement. Are cricket team Mumbai Indians.
No. 5: Lakshmi Mittal / $ 28.7 trillion / steel
London's richest resident supervision ArcelorMittal (MT), the world's largest steel maker. Net profit fell 75% in 2009. Mittal took 12% salary cut in the middle of recession, but a better outlook pressured stock up third in the last year.
Wants to expand in the country of India, wants to build steel mills in Jharkhad and Orissa but has not received official approval. Started in the family steel business in India in 1970, branched out on his own in 1994. Initially acquired steel mills on the cheap in Eastern Europe. Earned 1.1 billion U.S. dollars to sell its stake in a Kazakh refinery in December.
Board member of Goldman Sachs (GS) and the European Aeronautic Defense and Space (EADSF). Increased stake in struggling British football team Queens Park Rangers in February. Funding 400-foot sculpture to be built in London's Olympic Park in time for the 2012 Olympics. Are 12-bedroom mansion in London's posh Kensington neighborhood. Daughter-in-law Megha recently acquired insolvent German fashion house Escada.
Mexico Telecom Tycoon, who pounced on the privatization of the national telecommunications company in the 1990s, is the world's richest person for the first time after he came in third place last year. Net worth up $ 18.5 billion a year. Recently received regulatory approval to merge its fixed-line resources to America Mobile (AMX), Latin America's largest mobile-phone company. His construction conglomerate, Impulsora del Desarrollo y el Empleo, build roads and energy infrastructure.
Son of Lebanese immigrants also owns stakes in financial Inbursa (GPFOY), Bronco Drilling (BNRC), Independent News & Media, Saks (SKS) and The New York Times Co. (NYT). Newspaper company shares jumped in early March to talk Slim can buy a controlling stake, he denied the rumors. Donating $ 65 million to fund a research in genomic medicine with American billionaire philanthropist Eli Broad.
No. 2: Bill Gates / $ 53 trillion / Microsoft
Software Visionary is now the world's second richest man. Net worth is still up $ 13 billion in a year that Microsoft (MSFT) shares rose 50% in 12 months, the value of the investment vehicle Cascade Investments also swelled.
More than 60% of assets held outside of Microsoft; investments include Four Seasons Hotels, Grupo Televisa (TV) and Auto Nation (AN). Stepped down from day to day duties at Microsoft in 2008 to focus on philanthropy. Bill & Melinda Gates Foundation dedicated to fighting hunger, improving education in U.S. high schools and developing vaccines against malaria, tuberculosis and AIDS.
No. 3: Warren Buffett / $ 47 trillion / investments
America's premier investor up to $ 10 billion in the last 12 months on rolling Berkshire Hathaway (BRK.A) shares, says the U.S. has survived "economic Pearl Harbor", but warns recovery will be slow. Wisely invested $ 5 billion in Goldman Sachs (GS) and $ 3 billion in General Electric (GE) during the 2008 market collapse. Recently bought railroad giant Burlington Northern Santa Fe for $ 26 billion.
"We have put a lot of money to work during the chaos the past two years," said Buffett. "When it rains gold range for a bucket, not a thimble."
Berkshire Hathaway book value was up 19.8%, to $ 21.8 billion in 2009. Son of Nebraska stockbroker met value investor Benjamin Graham while he was studying economics at Columbia University. Took over textile firm Berkshire Hathaway in 1965, used the company as a vehicle to invest in insurance (GEICO), food (Dairy Queen), utilities (MidAmerican Energy) and recently, green tech (electric-car maker BYD).
No. 4: Mukesh Ambani / $ 29 trillion / petrochemical, oil and gas
Global ambitions: His Reliance Industries, is already India's most valuable company, recently bid $ 2 billion for 65% of the shares in the troubled Canadian oil sands outfit Value Creations. Company's $ 14.5 billion offer to buy bankrupt petrochemical maker LyondellBasell was rejected. Since September, the company has sold Treasury shares worth $ 2 billion will be used for acquisitions.
Late father, Dhirubhai founded Reliance and built it into a massive conglomerate. After the elder Ambani's death, Mukesh and his brother Anil, ran the family business together for a short time. But the brothers feuded over control, the mother finally brokered a split of assets, Mukesh get energy, oil and gas and petrochemicals businesses. Still at odds with Anil over gas supply agreement. Are cricket team Mumbai Indians.
No. 5: Lakshmi Mittal / $ 28.7 trillion / steel
London's richest resident supervision ArcelorMittal (MT), the world's largest steel maker. Net profit fell 75% in 2009. Mittal took 12% salary cut in the middle of recession, but a better outlook pressured stock up third in the last year.
Wants to expand in the country of India, wants to build steel mills in Jharkhad and Orissa but has not received official approval. Started in the family steel business in India in 1970, branched out on his own in 1994. Initially acquired steel mills on the cheap in Eastern Europe. Earned 1.1 billion U.S. dollars to sell its stake in a Kazakh refinery in December.
Board member of Goldman Sachs (GS) and the European Aeronautic Defense and Space (EADSF). Increased stake in struggling British football team Queens Park Rangers in February. Funding 400-foot sculpture to be built in London's Olympic Park in time for the 2012 Olympics. Are 12-bedroom mansion in London's posh Kensington neighborhood. Daughter-in-law Megha recently acquired insolvent German fashion house Escada.
Monday, November 30, 2009
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.
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.
Tuesday, November 24, 2009
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.
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.
Saturday, November 21, 2009
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.
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.
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