Brexit: What Does it Mean For Me and My Money?

Brexit: What Does it Mean For Me and My Money?

While the reaction in the markets to the Brexit vote has been mixed with the pound falling but business confidence apparently holding up well, what is less clear is what effect leaving the European Union will have on the average Briton.

How to Get Ready for Tax Time

How to Get Ready for Tax Time

Here is a truth that nobody wants to ever admit: if you’re diligent about tracking your details throughout the year, tax time isn’t all that big a deal.

A Bill-by-Bill Guide to Saving Money on Monthly Expenses

A Bill-by-Bill Guide to Saving Money on Monthly Expenses

Heat, water, electric and other utilities are all necessities, but that doesn’t mean you need to pay high prices for them.

There are a few things you can do to reduce the amount of money you’re spending on your bills.

Whether you’re living paycheck-to-paycheck (hopefully not!) or living comfortably, you still want to save money.

To help you lower your monthly costs, we’ve compiled a bill-by-bill guide, complete with tips on what you can do to put more money in your pocket.

5 Things You Need to Know About the Mortgage Forgiveness Debt Relief Act

5 Things You Need to Know About the Mortgage Forgiveness Debt Relief Act

Americans struggling with substantial mortgage debt that exceeds the value of their home have several options, including a short sale, foreclosure, or mortgage restructuring. Traditionally, any of these options that results in forgiving or discharging some of the debt on their primary home results in a form 1099-C, Cancellation of Debt, from the lender.

The IRS considers most forms of cancelled debts, including mortgage debt, as income for the recipient. This can mean a tax bill of thousands of dollars, even if you lost the home in foreclosure.

The Mortgage Forgiveness Debt Relief Act of 2007 was passed at the height of the foreclosure crisis, gives homeowners tax relief from this forgiven debt. Here’s what you need to know about the Mortgage Forgiveness Debt Act.

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