“Gambling, investing in cryptocurrency or backing a friend’s new venture are among the worst possible ways to spend a tax refund, writes Geoff Williams” in US News and World Report.See; The 5 Worst Ways You Can Spend Your Tax Refund https://money.usnews.com/money/personal-finance/taxes/articles/2018-03-20/the-5-worst-ways-you-can-spend-your-tax-refund Much better options: pay down credit card debt, pay down other debts like car…
Day: March 22, 2018
Change in medical expense federal tax deduction for 2018
The threshold for claiming the medical-expense deduction is 7.5% of adjusted gross income for 2017 and 2018, potentially letting more people qualify. Sarah O’Brien explains A taxpayer with adjusted gross income of $50,000 would need a minimum of $3,750 in medical expenses to reach the temporary 7.5 percent threshold. That compares with $5,000 — $1,250…
Is your college student using federal student loans to finance spring break?
The Squared Away Blog reports: New Use for College Loans: Spring Break! “Yup, more than half of college students are using some of their student loan money to pay for spring break.” See: http://squaredawayblog.bc.edu/squared-away/new-use-for-college-loans-spring-break/Even if college students are paying their own way (with earned income) for fancy week-long get-aways… should they be using funds in…