Five Ways to Get Extra Cash Now

Get out the computer and begin your research. No need to spend hours googling different websites to locate gigs in the following areas. I will set you up right now. First of all keep an open mind and realize the economy still sucks. Now a lot of the jobs available out here today could be in fields you don't possess the credentials in. Until you you finish your education or while in search of another career move, or just to add some flexibility to your current situation, like becoming a new mother or mother for the second time, a layoff, or transition read on for some helpful tips.

#1 Housekeeping and House sitting.
Instead of working for a home cleaning service, try your hand out starting your own home cleaning gig. You can gather several clients and obtain references and begin cleaning homes on a regular basis. Head to the dollar store or Walmart to purchase the necessary items to begin the task. Order business cards from www.vistaprint.com and check out opportunities on sites like www.care.com and www.sittercity.com (You'll see these sites listed many times)

#2 Childcare/Nanny opportunities
If you have prior childcare experience either from working as a counselor at a day camp, United Way mentor, or other child mentor, daycare facility, or as a childcare provider for a neighbor or colleague at the office consider work as a nanny. There are many gigs available at sites such as www.sitter.com, www.care.com, and www.sittercity.com. You will need your First Aid, CPR, child abuse clearances and a background check. These items are not difficult to obtain.

#3 Pet sitting
Many people hate the idea of leaving their pets unattended while vacationing or traveling for other purposes. There are pet sitting facilities however they can cost a few pretty pennies that folks don't have the extra funds for in this economy. They do however have some dollars to h=give to you, and maybe even more if you have a flexible schedule.


#4 Freelancing and work at home gigs
There are many opportunities to become a freelancer. If you are great at graphic design, writing, building websites, and blogging then the possibilities are endless. Check out spots like www.freelancepulse.com and www.wahm.com to get started.

#5 Medical Studies
You can participate in medical studies offered through various hospitals, companies, and schools. They often have eligibility requirements and offer competitive compensation for participation. Check out the one below.

http://www.philadelphiaweekly.com/mailings/2832957.html

Do You Know What A 529 Plan Is?

A 529 college savings plan is a state sponsored program created by the government also referred to as a qualified tuition plan. These programs are mostly sponsored by individual states which allow anyone to contribute after tax dollars into an investment account where the money grows federally tax free. The earnings and withdrawals from the account are federally and in some cases state tax free as long as the money is used towards paying for qualified education expenses (that qualifies under federal guidelines).  The common acceptable expenses are tuition and fees, books and supplies required by the school for enrollment, room and board costs. Each plan varies from state to state and some states even offer their residents/taxpayers benefits like tax deductions and gift matching on contributions. Read on to learn about the Pros and Cons of 529 college savings plans…

PROS

• Anyone can contribute to these plans
• There are no income limits or restrictions
• No age limits or restrictions
• You can make small or large contributions
• Since these are state sponsored plans there may be a state income tax deduction available
• Simple hassle free investments offered (age based investments)
• You can change the beneficiary (future student) on the account
• Tax free growth and withdrawals for college expenses
• Low impact on financial aid eligibility
  

CONS

• Investment Risk-These accounts are not FDIC insured or guaranteed, so there is a possibility to lose some of your earnings and initial contributions.
• Potentially high expenses/fees
• If you don’t use the money for qualified college expenses you pay a 10% penalty tax to the Federal Government as well as ordinary income taxes (federal and most times state taxes)

There are also 529 Prepaid tuition plans. These programs are also sponsored by states but also by a variety of educational institutions throughout the U.S. These plans able you to lock in today’s tuition rate to use for future education expenses. You purchase units or education contracts with after tax dollars through a lump sum purchase or installments. When you need to make withdrawals for college you can redeem the units to pay for qualified college expenses and the earnings that has accumulated is also free from federal income taxes if you use the money for qualified college expenses.  There are also some benefits such as possible state tax deductions available with these programs.

Five Key Money Concepts To Teach Your Kids

#1 For kids in the age group kindergarten and up show them the various forms of money including checks, money orders, credit cards, debit cards and even gift cards. Explain what each means in as simple as possible for example if you showed them a check ask them if they know what it is and start from there. Always start off asking them what they know.

#2 Talk to them about the different types of money and how to identify various types of bills and coins. Show them a few bills such as twenty, ten and five dollar bills and a few coins and ask them what they see on the bills and coins. Help them to recognize the presidents, words and other items listed to get a grasp of how to identify with the money. Some of these concepts are taught in school but why not reinforce what the teacher has shown them?

#3 Explain cost. Show them that various merchandise costs different prices. Use items from around the house such as food items from the pantry, the DVD player, books, CDs, DVDs, shoes, jewelry, and other products to help them understand that various things cost different amounts. If they are old enough like 3rd grade and up mention how name brand items tend to cost more and why. Show them a piece of expensive jewelry and a cheap fashion jewelry item and explain the differences.

#4 Discuss where to get money. Talk about different places to obtain money from including ATMs, banks, check cashing places and even at the store when you make a purchase with a debit card.

#5 Get out the visuals. Show your children actual receipts, bank statements, and utility bills. Ask them what they see. What is it for? Remember test their knowledge of these items to determine what they already know. Perhaps quiz them on what you share and reward them with a small prize to and begin a routine with them to teach them these skills ongoing.

Tax Tip from Irs.gov

Be Sure to Know Whether You Qualify for the Earned Income Tax Credit

IRS TAX TIP 2010-22
The Earned Income Tax Credit, commonly referred to as EITC, can be a financial boost for working people adversely impacted by hard economic times. However, one in four eligible taxpayers could miss out on the credit because they don’t check it out. Here are the top 10 things the Internal Revenue Service wants you to know about this valuable credit, which has been making the lives of working people a little easier for 35 years.
1. Just because you didn’t qualify last year, doesn’t mean you won’t this year. As your financial, marital or parental situations change from year-to-year, you should review the EITC eligibility rules to determine whether you qualify.
2. If you qualify, it could be worth up to $5,657 this year. EITC not only reduces the federal tax you owe, but could result in a refund. The amount of your EITC is based on the amount of your earned income and whether or not there are qualifying children in your household. New EITC provisions mean more money for larger families.
3. If you qualify, you must file a federal income tax return and specifically claim the credit in order to get it – even if you are not otherwise required to file.
4. Your filing status cannot be Married Filing Separately.
5. You must have a valid Social Security Number. You, your spouse – if filing a joint return – and any qualifying child listed on Schedule EIC must have a valid SSN issued by the Social Security Administration.
6. You must have earned income. You have earned income if you work for someone who pays you wages, you are self-employed, you have income from farming, or – in some cases – you receive disability income.
7. Married couples and single people without kids may qualify. If you do not have qualifying children, you must also meet the age and residency requirements as well as dependency rules.
8. Special rules apply to members of the U.S. Armed Forces in combat zones. Members of the military can elect to include their nontaxable combat pay in earned income for the EITC. If you make this election, the combat pay remains nontaxable.
9. It’s easy to determine whether you qualify. The EITC Assistant, an interactive tool available on IRS.gov, removes the guesswork from eligibility rules. Just answer a few simple questions to find out if you qualify and estimate the amount of your EITC.
10. Free help is available at volunteer assistance sites and IRS Taxpayer Assistance Centers to help you prepare and claim your EITC. If you are preparing your taxes electronically, the software program you use will figure the credit for you. If you qualify for the credit you may also be eligible for Free File. You can access Free File at IRS.gov.
http://www.irs.gov/newsroom/article/0,,id=106429,00.html

Email Safety for Kids | eHow.co.uk

Email Safety for Kids | eHow.co.uk