401k, 403(b), and most 457 plans

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Roth and Traditional IRA contribution limits

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Traditional IRA modified adjusted gross income limit for partial deductibility

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Roth IRA modified adjusted gross income phase-out ranges*

Earthday Free Tree from Lowes

As we all know, Earthday is on 22^rd of April 2011. Lowes is celebrating the Earth day on 23rd April by giving away a 1 million tree for free. You will need to go to nearest participating Lowes store to get a free tree.

Find Lowe’s location here. Call to see if they’re participating in this Earth Day promotion.

Other deals for the earth day.

FREE Coffee or Tea from Starbucks: Just bring in a reusable mug to Starbucks on April 22nd for a FREE Coffee or Tea!

Homeowner’s insurance is a serious issue that must be taken serious by homeowner’s. Never allow yourself to be in the position where a forced-placed insurance policy is placed by the lender which eliminates any claim you may have. It is always better to be safe than sorry. See more detailed information about “Forced Placed Insurance” here.

You may also interested in Forced Placed Flood Insurance? here

Taxpayers who entered into a contract to purchase a home on or before April 30th now have until September 30th to close on the home. According to the IRS, anyone who is attempting to claim the homebuyer credit will need to comply with special filing and documentation requirements. See what other information you need to know if you plan on benefiting from this extension. Learn More

• Who is eligible? Tax credit for First time home buyers only, no exception. Well, actually there is one exception: Buyers may not have owned a home for the past three years to qualify as “first time” buyer. 1 and 2
• Tax Credit Amount - $8,000 or 10% of home’s value: First-time buyers can claim a credit worth $8,000 - or 10% of the home’s value, whichever is less - on their 2008 or 2009 taxes.
• Cool factor: The tax credit does not have to be repaid. Credit is refundable, meaning tax filers see a refund of the full $8,000 even if their total tax bill - the amount of witholding they paid during the year plus anything extra they had to pony up when they filed their returns - was less than that amount.
• Time frame of home purchase: The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
• Income Limits: Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit. However tax filers can receive a proportional tax credit if income is up to $95,000 for an individual ($170,000 for joint filers), in other word credit will phase out if income is above $75000 for single tax payer (or above $150,000 is married and filing jointly)
• Okay, enough good stuff, tell me some fine prints….
• What if I sell my house after purchase? - No penalty if sold beyond 3 years. If sold within 3 years, ENTIRE credit will be owed back to the IRS for the tax year the home was sold.
• You have to be primary resident of your new home purchase. It should not be investment or rental property.

Via: 1. Real estate Yahoo.com 2. federalhousingtaxcredit.com 3. More FAQs about - $8000 Housing Stimulus Tax Credit 4.  $8000 Home Tax Credit

Taxes:

• Most people will receive a tax credit of $400 (or $800 for married couples) However, this tax credit will be phase out if your income is more that $75,000 ($150,000 for couples )
• The $1,000 child tax credit would be extended to more low-income families that don’t make enough money to pay income taxes, and poor families with three or more children will get an expanded Earned Income Tax Credit
• First-time home buyers who purchase their homes before Dec. 1 would be eligible for an $8,000 tax credit.
• Add energy-efficient windows, furnaces and air conditioners can get a tax credit to cover 30 percent of the costs, up to a total of $1,500
• Those who are already receiving unemployment benefits wouldn’t pay any federal income taxes on the first $2,400
• Auto Sale Tax as a deduction: If you’ve an eye on  new car, now might be the time to pull the trigger. The stimulus bill lets you count the sales tax as a tax deduction on auto purchases up to $49,500. Again, high income earner would not be able to take full advantage. It phases out for anyone earning more than $125,000 or couples earning over $250,000.)

Health Insurance:

• Most people who lost the job is able to keep their coverage for 18 months under the COBRA program when they lose their job. However, premium will shoot up high, sometime over $1000 per month. Under Stimulus bill, the government will pick up 65 percent of the total cost of that premium for the first nine months.

Don’t Miss:

• The American Recovery and Reinvestment Act of 2009

This MSN Money article says that 62% of Americans pay a professional to do their taxes. Many people event don’t required costly professional help for they tax work if you have just W2s and some interest/miscellaneous income 1099 statements. Using e-file makes sense for all taxpayers who have simply returns with standard deductions or decide to go for itemized deduction. Lots of websites are available for both types of returns, federal and state. And if your income is less than 56,000 that you have verity of options available for FREE filing. In fact, according to Jonathan @mymoneyblog, there are 20 different software companies available from the Free File Alliance at IRS.gov. If you do decide to use speedier option -e-file, for this year tax year, take some steps first to make sure you are filing your return properly.

First, be sure that you are actually getting a refund. Then you will need to get your paperwork in order, you’ll need your all W-2s and any other year-end statement. See comprehensive document checklist on IRS.gov website.

Once you’ve chosen to file using e-file, you can cut down your wait time for your refund by at least a week by choosing direct deposit of your refund. (see Tips from the IRS - Direct Deposit) You can even split your refund between one, two or three bank account. See form 8888. Its worth noting that not all e-file provide such refund splitting. Last year, about 53% of all refunds were directly deposited. The IRS offers the following time frames for receiving your tax refund:

• Mail your paper return and opt for paper check: receive your refund in 4 to 6 weeks
• Mail your paper return and opt for direct deposit: receive your refund in 3 to 4 weeks
• E-file and opt for a paper check: receive your refund in 3 weeks
• E-File and opt for direct deposit: receive your refund in 2 weeks

Don’t Miss:

• 2008 IRS e-file Refund Cycle Chart
• Tips on E-file in Hispanic
• What are the tax changes for this year?
• Where is my refund?
  
• IRS refund help page on IRS.Gov
• 5 of the Cheapest & Best Ways to E-File your Taxes
  

• As of March 1st, 2009, to qualify for 10 free stock trades, you must reach a $25,000 minimum balance in your account, or execute 25 trades

1. Account balance of $25k or more + 25 or more trades per month = You will get 10 free stock trades per month, $4.50 otherwise
2. Account balance of $25k or more + Less than 25 trades per month = You will get 10 free stock trades per month, $4.50 otherwise
3. Account balance of less than $25k + 25 or more trades per month = You will get 10 free stock trades per month, $4.50 otherwise
4. Account balance of less than $25k + Less than 25 trades per month = $4.50 per trade (No free trade)

Most of investors are falling under forth scenario (having less than $25k in account) as since Zecco’s inception they try to attract students or graduates who wish to start experimenting with investing, small investors show wants to invest something small on monthly basis. This new change is very disappointing. I would say If It’s too good to be true then It’s probably it is- well today, Zecco has shown its TRUE COLORS.  As a small investor, there’s no way I can come up with $25,000 for several more years.

New pricing structure really equals the playing field for Zecco and Sharebuilder. $25K account balance includes could be anything including all cash, money market funds, stocks, exchange traded funds (ETFs), mutual funds, and options in your account. However, algorithum to quality for 10 free trades (either by having $25K+ balance or 25 trade qualification) is even more complex and I think new structure made it difficult for small investors to reach/utilize free trades. Based on my first impression, you might have to spend more to get something little for free. You must read below example to understand:

See more FAQs about new Zecco pricing here.

So who to blame for this new structure? Well obviously its economy! Now a days, many CEO is conveniently blame on economy instead of innovative way to cut the cost. And Jeroen Veth (Zecco CEO) is no different. He explained in email: “US and world economies have been hit hard over the past 4 months. As a result, some of the largest corporations in the world have had to cut costs and adjust to new business realities. With reduced retail trading volumes and lower interest rates, we at Zecco Trading simply could no longer provide free trades to as many people as we would like.” Zecco should change its name to “Zero commission with FEE”, sounds weird! Why I am so upset, well they betrayed me.

As a positive note, As of March 1, 2009 the terms of the Zecco Friends Program will be changing. The referral credit will be increased from $65 to $75. If you want to be a Zecco member, please comment this post. I will send you invitation soon.

Ramit is going to announce one tip a day, as per CEO model, for first 15 days of November. For rest of the month he is going to accept quality tips from readers. See below video more about his plan and CEO model

What is CEO model? Remit explains…

• C=Cutting Cost (This step revolves around these words: Cut, reduce and stop)
• E=Earn more (This step revolves around creating extra income, like, selling item on eBay that you are not using)
• O=Optimize Spending (This steps revolves around negotiating your rate with insurance, cell phone, cable company etc)

See below video to find out what’s his plan to save your $1000 in one month (in November)

So are you up for the challenge? Subscriber his blog feed and email for special tips (won’t announce on his blog)

30 Days Challence

Don’t Miss: via (iwillteachyoutoberich.com) How I’m saving $25,000+ in 2009