can i deduct student loan interest

Is my student loan interest deductible?

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Question: ” Is my student loan interest deductible?” Answer: Assuming you meet certain requirements, you may be able to claim all or part of the student loan interest that you’ve incurred during the year. Generally, a qualified education loan is a debt you incur to pay qualified higher education (undergraduate and graduate) expenses for yourself, your spouse, or a dependent at an eligible educational institution in a program that leads to a degree. The IRS … Read More

Starting a Business With a Full-Time Job: 9 Ways to Spend Your Time Wisely

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If you’ve considered starting your own business but want to begin on a part-time basis while maintaining security with your current full-time job, you’re not alone. Many entrepreneurs have found it beneficial to start out this way. For anyone starting a business, learning to manage your priorities and time is critical for both your financial and overall well being. I have found, in working with start up phase entrepreneurs, this is an area that gets … Read More

5 Steps to Take Control of Your Student Loans

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It is frightening to see the statistics. According to a recent report issued by the Consumer Financial Protection Bureau, the size of the U.S. student loan market is over $1 trillion and there are approximately 7 million borrowers that are in default with their payments. Student loans are unique in that they’re one of the few debts that can not be discharged with bankruptcy. The only reliable way to get out of your student loans … Read More

Financial Considerations with a New Job

Starting a New Job? Financial Issues You Need to Consider

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Getting a job offer is an exciting time, but you need to consider the full financial impact of a new position. Before You Accept a New Job Get over your fear of negotiating.  Negotiating an employment offer is probably one of the highest paying activities you’re likely to ever to take part in. Consider that just a few minutes could result in thousands of dollars in additional income for many years to come.When was … Read More

Setting Goals

Create Meaningful Goals Anytime of the Year

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I hope you have had a good start to 2013! You may have noticed I haven’t made a post in the last few months.  One reason I’ve been absent is my resistance to being another source of “New Year’s Resolution Noise.” Starting in early December and continuing through January,  I was bombarded with email messages pushing me on how to “reinvent myself in 2013” or “start the new year with a new you,” or … Read More

Coins

4 Steps to Retiring When You Want

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Are you on track with being able to retire when you want to? It’s so easy to procrastinate about saving and investing money for your retirement – especially if you’re still years away. While  starting early makes it so much easier to meet your retirement goals, it never hurts to start based on where you are today. Saving steadily and starting now can make it possible for you to retire with greater comfort.  Keep … Read More

A parent's dilemma credit cards in college

College students and credit cards: A parent’s dilemma?

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Question: Our son is in his first semester of college and so far we have skirted the issue of getting him a credit card. Are we making a mistake by not letting him have his own card? Answer:  Sending kids off to college isn’t easy. Even though you think it’s time for your child to experience life on their own, you know they’ll still depend on you for some financial support and one of … Read More

Making loans to family and friends

Should We Loan Money to Our Son and Daughter-In-Law?

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Question: Our son and daughter in-law have asked us for a loan.  What should we do? Answer: It’s not uncommon, especially  in difficult economic times, to have a family member or a friend ask to borrow money. While some people decide against the idea altogether, there may be circumstances where you feel  it’s worth the risk.  I’m going to give you a few points to keep in mind when trying to decide whether to … Read More

Should we give our kids an allowance?

Should we give our kids an allowance?

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Question: What are your thoughts on giving kids an allowance? Answer:  This is a tough one because what works for one family may not work for another.  Personally, though, I believe allowances can be a great way to teach your kids how respect and manage money if you can implement the right allowance system or a combination approach.  I’ll explain three basic allowance systems and how they work. Taking the time to learn wise … Read More

How to turn a hobby into income

Creating income from a hobby

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If you’re like most people, you probably dream of having a job that’s enjoyable and fulfilling. The solution maybe closer than you realize if you consider turning something you love to do into a way to pay the bills. You may be thinking, “There’s no way I can make money from my hobby.” But you might be surprised! Just think how great it would be if you could make money from the one thing … Read More

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