NKF Financial Services

Debit vs Money Part 2

2008-09-17T21:38:00.004-04:00

If you watched the first part of this series, you've noticed the direct correlation between this film and what is happening with the U.S. economy and the global market today. With the government's negoiations for the Wall Street baill out, it is very important to pay grave attention to your personal debt, as well as, our government's.

Debit vs Money

2008-01-20T14:57:00.000-05:00

I'm often asked by my clients how to magically eliminate debt. There are tons of ways you can reduce debt. Lower credit card interest rates, pay for big ticket items with cash instead of credit, but I found the best way to eliminate debt is to understand it. Just understanding how money works can help you understand debt... Do you know how or why money was created in the first place? How much money actually exists in the world? And if the world has so much debit how can it ever be paid?...

Part One: The establishment of the "Banking System"

Next, Part Two: How your bank makes money from nothing.

Simple Mistakes Can Be Costly.

2007-12-27T20:56:00.000-05:00

Nobody wants to make a mistake on their tax return, we all know that small mistakes can make our taxes unnecessarily complicated. Small mistakes, like incorrect or missing social security numbers, can delay processing of your refund, cause you to pay more taxes than you should or lead to a letter from the IRS saying that the refund they sent you shouldn’t have been issued and they want it back (inevitably after you’ve bought that new big screen tv), oh and you owe them interest and penalties as well.

Below is a list of the 5 most common mistakes people make on their tax returns, according to our friends at the IRS:

Read the rest here.

10 Tax Tips

2007-11-15T10:05:00.000-05:00

By Selena Maranjian

It's finally here -- that most exciting time of the year! We giggle like schoolgirls watching the letter carrier approach our home, hoping to find 1099 and W-2 forms nestled in our mail. We find it hard to concentrate on our jobs as we daydream about deductions and credits. We miss our stop on the train ride home from work because we're so engrossed by IRS Publication 514, "Foreign Tax Credit for Individuals." That's right -- it's tax season!

OK, you're probably not that excited about tax season. Still, it's not something we can ignore. Like it or not, most of us are stuck dealing with taxes once a year. In the hope of making your tax season and the coming tax year a little less painful, I hereby offer a few tips.

1. Be neat! It might be hard to write legibly after hours and hours of staring at barely comprehensible forms and filling in boxes, but don't succumb to sloppiness. The authors of What the IRS Doesn't Want You to Know state that "neat returns, especially computerized ones, are less likely to be audited than handwritten or sloppy ones. Even the IRS has gone on record stating that computerized returns are preferable...."

2. Avoid getting a large tax refund. It means you're lending money, interest-free, to Uncle Sam. Plus, you're missing out on the opportunity to invest that money earlier in the year, thereby having more time to grow. There's also a chance that unusually large refunds could draw the attention of some IRS auditors. So consider revisiting a W-4 form and revising your withholding so that it more accurately reflects your expected taxes...

Read the rest here: