 Annual Evaluation of withholding is a personal finance best practice that has become even more essential after tax reform's changes to individual tax rates and brackets. During the 2018 tax year, many individuals realized the need to adjust their withholding to realign with their new income tax liability. The IRS recommends performing a "payroll checkup" and adjusting W-4s as needed to ensure adequate tax is withheld. When updating withholding, make sure to use the most recent version of the W-4.
Visit irs.gov/withholding for a free calculator and more information on withholding.
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 How does your credit impact your credit score? Today we will take a look at the credit utilization on your credit score. Credit experts recommend keeping your credit usage under 30%. If you use a credit monitoring service such as Credit Karma they constantly recommend keeping your credit usage under 30% to achieve a good or excellent score.
The three major credit score companies don’t have this as a die-hard rule. However, the lower the credit usage on your accounts the better your score can be. There are a number of other factors the credit companies use such as number of accounts, length of credit history, and one of the most important payment history. So always make sure you pay your bills on time. A derogatory mark on your credit can take years to correct itself back out. Experian says the 30% rule is not a target but rather a maximum limit. Going over that amount can have a significant negative impact on your credit score. The amount of credit you have open does impact your score but keep in mind that major negative influence which are missing payments, a number of inquiries on your credit report, opening a new account. Take these and a high utilization of your credit you will surely see a major negative impact on your credit.  You have heard of companies like Payday Loans, Rent-to-Own, and tote-the-note car lots. We see the commercials and stores for these “lenders” aka scum of the earth that legally gets rich from the backs of the poor or to be poor. They prey on lower-income people and by doing it keep them at the bottom of the economic scale. The interest rates charged by these so called lenders are well over $100 percent!!
Payday Loans One of the fastest growing lenders in the country is Payday loans. Because they get rich off your money!  Are you looking at an individual retirement account (IRA)? Trying to decide whether to go with a traditional IRA or Roth IRA?
The type of IRA you choose can have a major impact on your family’s long term savings. Knowing the differences between the two is important to select the best one for you. Income Limits Anyone under 70 ½ and has earned income can contribute to a Traditional IRA. The deciding factor on whether the |
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