PoliceLink

Dell Unveils Digital Forensics Package for Police

Shane McGlaun / DailyTech — Mon, 30 Nov 2009 13:42:00 -0800

'Dell's goal is to help convict criminals by providing access to digital evidence.' -

The world of computer forensics is growing rapidly as police and governments realize that the wealth of digital information on a suspected criminal's computer can be hard to retrieve. To help legal agencies convict criminals, Dell has announced a new product offering in digital forensics for police.

Dell, the world's second largest computer maker, announced today that the new forensics service has a goal of helping police convict criminals in the face of growing digital evidence. The new digital forensics package will help police reduce the backlog of cases that can be as long as two years behind.

The offering will also allow multiple analysts to work on the evidence and preserve a trial of evidence handling for auditing purposes. To offer the package, Dell partnered with Intel, EMC Corp, Oracle Corp, Symantec Corp, and forensic data specialist AccessData.

The hardware and software forensics package gives the law enforcement agency the convenience of cloud computing and speeds access to evidence in the face of legal constraints such as time limits on how long terrorism suspects can be held.

Dell's head of European public-sector business Josh Claman said, "[The new forensics offering] embodies everything we wanted to achieve when we decided to restructure the way Public Sector customers' needs are addressed."

Dell cites research firm IDC claiming that the digital forensics market would be worth $630 million this year, up from $252 million in 2004 and the international market for the service is worth $1.8 billion by 2011. Dell plans to present the new service to the British Association of Police Officers today.

5 Ways to Vet Your Next Employer

Tania Khadder — Fri, 01 May 2009 06:37:00 -0700

We all know that before bringing you on board, a potential employer will do some vetting.

They'll scour the internet searching for digital dirt, or any discrepancies from your resume. They'll try to get a glimpse into your personality. They want to know as much as they can about you. After all, they’re about to let you – an unknown quantity – into their family.

Fair enough. You should do the same.

Now more than ever, it’s important to know what you’re getting yourself into. This is especially true if you’re leaving one job for another. You don’t want to leave a stable (albeit boring) work environment, only to be laid off by your new employer three months later. Besides, job hunting is a two way street – both parties should feel comfortable and confident in the potential union.

Before you sign that offer letter, make sure to do your due diligence.

Read the first tip>>>

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Research their financial health

This will be easier if you’re dealing with a publicly traded company – they have to report their financials to the Securities and Exchange Commission, and all of that information is accessible to you online here.

And whether or not your potential employer is public, you can get insight into their financial health by reviewing their profile on sites like Yahoo! Finance or Hoovers.

Finally, a simple Google search can yield valuable financial information in the form of news reports, feature articles, interviews, and more.

Next Tip>>>

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Understand the company's past, present and future

Revenue is not the only indicator of a company’s health. By learning more about their history, you'll have a better grasp on current performance, and where it's likely to go from here.

Do some detective work: How long has this company been around? How much have they grown since then? How do they compare to their competitors? What's the mission?

Again, you can get this information from Yahoo! Finance or Hoovers.

You can also learn a lot from your company’s own website – particularly in the About Us section. That is, if they have a company website. If they don’t, run.

Next Tip>>>

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Get to know the top-level executives

Just as your employer will want to understand your professional background, you should understand theirs (or rather, the professional backgrounds of the key players).

Find out who their C-level executives and decision makers are. Learn what you can from LinkedIn, Facebook and Twitter. Google them to see what, if any, articles have been written about them.

If you find that the company is led by executives who have been single handedly responsible for the demise of countless other companies, you may want to steer clear. On the other hand, if they've been nothing but a star, you'll know your in good hands.

Next Tip>>>

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Get employer “references”

As you inch closer to that offer letter, you’ll likely be asked to submit a few references – people who can vouch for your character, your professionalism, and your integrity. Why not ask the same of your employer?

Try and speak to a few of the people who work there – particularly the ones who will be your peers – to help you get a taste for what the work environment is like.

Ask them what they like about the job, what they don’t like, how long they’ve been working there and what they feel the potential for growth is. If you can, find out what the turnover is like.

Of course, they may not be completely honest with you. And even if they are, some people are just negative Nancies – so you don’t want to take everything they say to heart. But talking to a few people can give you a better idea of what you're signing up for.

Next Tip>>>

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Look around you

When you go in for the interview, make sure to get a good look at your surroundings.

Are they still using clunky PCs from the 90s? Is the IT guy’s office also the “kitchen”? Are people sweating because it’s 90 degrees outside and the air conditioner is broken (and has been for months)?

These are not minute details – you’re going to spending the majority of your day here. You’ll want to be comfortable. And antiquated computer systems will surely slow you down.

If this company isn’t investing in its staff’s comfort, or giving them the tools necessary to succeed, it’s for one of two reasons: they can’t afford to or they’re choosing not to. Either way, this probably isn’t somewhere you want to work.

Should You Quit Your Job (Even Now)?

Thu, 30 Apr 2009 09:09:00 -0700

Your job is making you miserable. You dread getting up in the morning, you have nightmares about your boss and the thought of looking at that spreadsheet one more time literally makes you sick to your stomach.

But no matter who you turn to, you get the same tired advice: now is not the time to quit.

Six hundred thousand people lost their jobs in February. Another 700,000 in March. Layoffs are impacting every industry, professional rank, and geographic region; so it would seem that these days, you’re lucky if you have a job at all – let alone one you like.

It's no surprise that Americans are indeed clinging on for dear life. While it’s difficult to measure exactly how many of the unemployed left their jobs by choice, there's certainly a growing wariness of quitting in the months since the economic downturn.

Of course, some still take the plunge, in spite of – or even because of – the recession.

Next Page: True quitting stories

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"It just wasn’t worth it anymore"

Bethany Jones, 35, worked from home as a Medical Transcriptionist for seven years before quitting in February.

After her pay was slashed by almost fifty percent, she decided “it was no longer worth the achy hands and headaches.”

“I was dissatisfied with the company I worked for. I was getting paid less and less and was given harder reports to type. This behavior seemed to increase as the recession deepened.”

After mulling it over for the past year, Jones had finally had enough. She put in her notice and went to work for her husband’s diesel repair business (which was seeing more momentum with the economic downturn).

“I miss the work I did, but I don’t miss being tied down for 40+ hours a week with little to show for my efforts.”

Next Page: Dreaming big

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"I had bigger dreams"

Others left their job to pursue a longtime passion or dream. Lyndsay Rush, 27, has quit two jobs in the past year – the first in finance and the second as a temp – to take a stab at a writing career.

“The first time I didn't know exactly what I was getting into; I just knew it was not even a distant cousin of what I hoped to someday be doing," Rush says.

"The most recent time I quit, I knew exactly the risk I was taking but felt compelled to finally step out and 'chase my dreams'. I've never been more proud of myself, or more scared.”

Of course, she has faced some hardships along the way.

“I wish I could say that since then everything has fallen into place and I'm in the middle of my ideal career as a writer. Hardly so. But I do have the pleasure in knowing that I'm on my way. As Bill Murray says in "What About Bob?", baby steps.”

**Next Page: Should you quit?**

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Should I stay or should I go?

So how do you know if quitting is the right thing to do? What factors need to be in place before you put in your notice?

Don’t do anything hasty, says Finance Expert Dona DeZuma.

“If you’re considering leaving your job, you have to take the long view. How does leaving your current job benefit you in the years ahead? Not just this week, but five to ten years from now?”

DeZuma also says that a pay cut is not necessarily justification for quitting.

“If you’re pay is being cut but your hours have been cut accordingly, stick around.” She says. “Now may not be the time to quit, but it may be the time to look for a new job.”

Despite the grim economic outlook, DeZuma admits there is one circumstance that warrants a hasty departure. “If your company is doing something illegal. If you’re being asked to commit fraud. Those are good reasons to quit immediately.”

Next Page: Time to quit? How to prepare

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Be prepared

If you do decide to leave, get ready.

“Make sure you have the contact information for your entire professional network, and anything from your computer you’d want to use in your search,” says DeZuma.

She also recommends mapping out your unemployment in advance, ensuring that you stay close to your network. “Plan how you’re going to stay connected to what you were doing before the break, whether that means attending conferences or taking volunteer work.”

DeZuma says everyone needs to keep in mind that when you leave a job, you don’t just miss out on a steady income.

“When you take a break, you stop moving ahead. You lose benefits, you lose raises, you lose power in your relationships.”

You really have to carefully weigh out your decision. “Think ‘what does this mean for me 20 years from now?’ You are the only person who can answer that question.”

Next Page: How much in savings will you need?

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Budget for a year

Unlike in a thriving economy – when DeZuma suggests having six months worth of living expenses budgeted for – quitting now means budgeting for a year of unemployment.

Alanna Fero, Career Coach and author of Love Made Visible, agrees with DeZuma.

Fero’s job is to help people pursue their dreams – but she admits that right now, even the most passionate dreamers should proceed with caution.

“A year ago, I would have said three month’s savings were enough. Today I would say, hold onto your job and let’s do this on a part time basis. Because it might take a bit longer for people to do what they want to do.”

She is adamant, however, about not using the recession as an excuse to stay at a job you hate.

Next Page: Got another job lined up?
Proceed with caution anyway

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What if I have another job lined up?

Of course, all of this advice may be irrelevant if you've already landed yourself another job. But that doesn’t mean you should proceed in haste.

DeZuma warns that when you switch jobs, you might be taking a risk because you may not be as valuable to your new employer.

“Right now there’s a large supply of unemployed people, but not a large supply of open positions. You need to be more careful because you’re an unknown quantity at a new job.”

And likewise, a new company is an unknown quantity to you.

“You should also make sure that your new company is financially sound before jumping ship,” she says.

Still planning to leave? Go to our Job Hunting Tips section for more advice

More Companies Cut or End 401(k) Plan Matches

USA Today — Thu, 30 Apr 2009 09:09:00 -0700

The battle for a secure retirement is about to get even tougher. Several new surveys of company executives show that they plan to reduce or suspend their company's retirement-plan contributions this year.

Dozens of employers in the past year have already slashed such costs.

The trend means one important thing for workers: smaller nest eggs, unless they save enough to make up for the missing company contributions and matches.

Arrangements vary, but employers have often matched 25 or 50 cents of every dollar an employee puts in a retirement account, up to 6% of pay.

Companies of all sizes, under financial pressure, are "retrenching on the 401(k) front," says Alicia Munnell, director of the Center for Retirement Research at Boston College.

General Motors, (GM) Eastman Kodak, (EK) FedEx (FDX) and Sears Holdings (SHLD) are among the companies that have suspended their 401(k) contributions, according to the center.

A survey released Wednesday by research and consulting company Spectrem Group says 29% of employers intend to reduce or eliminate contributions to "defined-contribution retirement plans" in the next 12 months.

While the survey has a large +/- 8 percentage point margin of error, other surveys back up the dire forecast.

A mid-February study by employment consulting company Watson Wyatt Worldwide found that 12% of 245 large companies have already cut their 401(k)/403(b) matches — and another 12% plan to do so in the next 12 months.

Most workers are unprepared to fund retirement.

Using data from the Federal Reserve's 2007 Survey of Consumer Finances, which was published before the financial crisis, Munnell pegged the median 401(k) balance for those approaching retirement at $60,000.

Given the stock market turmoil, those retirement funds are likely only worth about $40,000 now, she says.

Most employees seem braced for the news. Nearly half of workers said in November 2008 that they were concerned that the sour economy would cause their employers "to cut back on matches to 401(k)/ 403(b)/457 plans," according to MetLife's seventh annual Employee Benefits Trends Study, which was released on Monday.

Yet, even with all of the retirement worries, there was a silver lining for employers, according to MetLife.

The struggling economy has led workers to become much more thankful for the benefits that they do have, with 56% saying they appreciate their workplace benefits more than ever before.

How to Apply for Unemployment Benefits

Jacky Hayward | Monster Evolutions — Thu, 30 Apr 2009 09:09:00 -0700

Once you have been laid off, one of the first things you are likely to think about is how you are going to replace your income. Unemployment Insurance (UI) was established by the government to provide unemployment benefits to workers when become unemployed due to factors outside their control to financially assist them while they are looking for employment. UI is a joint federal-state program with money coming from the federal and state governments but the administration coming from the state, so the rules determining eligibility vary as well as the benefits received depending on the state in which you live. This article is thus intended to serve as a general guide to unemployment insurance.

What to Expect when Applying for Unemployment Insurance

To apply for unemployment insurance, you must first contact your state’s unemployment agency. Career One Step has a map of all the state unemployment agencies, which will be a good place to find out more about your state’s agency. With the increase in layoffs, there has also been an increased number of individuals requesting unemployment insurance. Many unemployment offices are holding longer hours but there is still a backlog. In this manner, if your state unemployment agency allows you to, applying online will likely expedite the application process.

Once you have applied for unemployment insurance, most states will verify your unemployment in some way; this may mean a short phone interview, an in person interview with an unemployment officer, or further verification via USPS mail. After your unemployment department has received your claim and all necessary verification, they will calculate your unemployment benefits on your past salary, usually using your last year and a half of salaried time. Your UI benefits will be proportional to your past salary, but will often cap out at a certain point, depending, again, on your state. In addition, it is likely it will take a few weeks for you to receive your first unemployment check after your local agency has received all the necessary materials.

What to Keep in Mind Once you Have Applied

Once you start receiving checks, each week or every other week you will have to complete questionnaire to prove that you are in fact searching for a job; after all, unemployment insurance is intended to assist you in your job search

In addition, unemployment benefits are taxable. You can elect to have a specified amount withheld each check, but you will be responsible to pay taxes on the income earned come the next tax year, so plan appropriately!

How Obama’s Stimulus Plan will help Unemployment Insurance

Obama’s stimulus plan is still being debated in the Senate, but, in its present state, the stimulus package aims to provide $62 -$76 billion to state fiscal relief in order to compensate for decreasing state budgets. State governments pay in part for unemployment benefits and state run health care programs. With the downturn in the economy, state and local governments will need to increase taxes in order to continue these public services without aid of the federal government; the goal of the stimulus is to keep taxes low while allowing state governments to continue to provide unemployment benefits and other state run programs.

In addition, the current stimulus plan provides $36 billion to states to budget through December 2009. This allotted money will increase unemployment benefits by $25 per week. Further, the stimulus proposal includes suspending taxes on the first $2,400 of these benefits.

Your Job Search Expenses May Be Tax-Deductible

John Rossheim | Monster Senior Contributing Writer — Wed, 01 Apr 2009 15:31:00 -0700

Did you spend substantial amounts of money looking for a new position last year? You may be able to succeed where Nelson Rockefeller failed and take a tax deduction for many of your job search-related costs.

When New York Governor Rockefeller was appointed vice president in the '70s, he deducted expenses incurred in connection with his congressional confirmation hearings. Years later, the courts upheld the IRS's denial of the write-off, saying it violated a key rule on job search deductions: You must be looking for a job in the same trade or business as your previous position.

But fear not: The legitimacy of these deductions rarely gets decided in court. Armed with a bit of knowledge and some individualized professional tax advice, you may be able to reap savings by writing off a variety of job search costs.

Three Major Deduction Categories

Deductible job search expenses generally fall into three categories, according to IRS Publication 529:

* Outplacement and Employee Agency Fees: If you pay for job counseling or to have an agency match you with an employment opportunity, this expense is generally deductible. Of course, if you are reimbursed by an employer or anyone else, you cannot deduct these fees.

* Resume Preparation, Mailing and Related Expenses: Paper, envelopes, portfolios, postage, phone calls and the like add up. To deduct them properly, you'll need to keep meticulous records, including receipts and notes on the purpose of purchases.

* Travel and Transportation Expenses: Whether you take the bus to an interview or fly across the country to pound the pavement, your job search-related travel and transportation expenses may be deductible. But remember: The amount of time you spend searching for a job versus engaging in personal activities during your journeys can be a factor. In other words, a three-week trip in February with one face-to-face informational interview thrown in isn't going to cut it. These deduction rules are complex; get professional advice.

Before You Take That Deduction, Consider These 4 Factors

Even though you now have an idea of what to deduct, you still need to jump through some hoops -- four, actually - before plugging in those deductions:

* You Must Be Looking for a Job in the Same Occupation: Career changers don't get a break from the IRS. "If a general manager of a food market goes out and looks for a job as a VP of an Internet company, that's not going to fly," says Bradford Hall, managing director of Hall & Co. CPAs.

Distinctions between career fields can be arguable, so it pays to get professional advice. "I would go ahead and take the deduction if, say, you switch from journalism to marketing, because it's all communications," says Jim Dowling, senior tax manager for Weaver and Tidwell LLP.

* You Can't Take a ‘Substantial Break' Between Your Previous Job and Your Search: "There's no specific time frame provided by the IRS," Hall says. "But if a teacher becomes a stay-at-home mom, then years later decides she wants to go back, that's too long" to qualify for job search deductions. "The IRS wants to encourage people to get back on the horse and get back in the labor force."

* You Can't Be Looking for Your First Job: High school and college students seeking their first real-world job cannot deduct search expenses - you must be transitioning between career positions.

* Job Search and Other Miscellaneous Deductions Must Exceed 2 Percent of Adjusted Gross Income: Major caveat: You can only deduct job search costs to the extent that they - lumped together with all other miscellaneous deductions (such as unreimbursed employee expenses) - exceed 2 percent of your adjusted gross income.

What if December 31 rolls around and you're still looking? Relax - you can write off well-documented job search expenses for the year just ended, even if they haven't yet paid off with a new job.

Bailout Bill Extends Tax Breaks for Individuals

Military.com | Kyle Stone — Wed, 01 Apr 2009 15:31:00 -0700

In 2008, legislation was passed to help rescue US markets and the economy. But did you know that these bailout bills also included a bundle of income tax breaks?

The biggest ones are known as "extenders" - popular tax breaks that might seem permanent to most taxpayers, but actually must be renewed every year or two.

Stuffed inside the *Emergency Economic Stabilization Act* are more than 100 tax provisions worth $150 billion in tax benefits. They include:

• Another “patch” to protect middle-class taxpayers from having to pay $61.8 billion in alternative minimum taxes, or AMT, a tax intended for the wealthy.

• Extensions of some popular tax breaks for 2009 and beyond that were scheduled to expire this year, including deductions for classroom teachers and for higher-education tuition.

• Major tax breaks for victims of the 2008 Midwestern storms, floods and tornadoes.

AMT Patch Completed in Time for 2009 Filing Season

Once again Congress has applied a one-year patch on the AMT. That means that millions of middle-class taxpayers will be spared from paying higher tax bills.

The AMT was conceived in 1969 as an alternative tax to ensure that the wealthiest taxpayers, even with their big deductions and loopholes, didn’t avoid paying income taxes. But because the tax was not adjusted for inflation, it has increasingly reached down into the middle class.

Recently Congress has passed a series of one-year fixes, rather than overhaul the AMT itself. Last year, the long delay in passing the patch required the IRS to briefly postpone accepting some 2007 tax returns.

With the AMT patch and other tax changes included in the bailout bill, taxpayers should be able to file as usual starting January 2009.

Popular Tax Breaks Extended For 2009 Tax Returns

• The $250 deduction for teachers who buy out-of-pocket classroom supplies. This deduction is "above-the-line," meaning that teachers and educators can qualify for it even if they don't itemize their deductions. Allowable expenses include classroom supplies, books and software.

• A deduction of $2,000 to $4,000 for eligible taxpayers with higher-education tuition and related fees. This above-the-line deduction allows married couples with incomes of $130,000 or less ($65,000 for individuals) to deduct up to $4,000 in higher education expenses and those couples earning $130,000 to $160,000 ($65,000 to $80,000 for individuals) to deduct up to $2,000.

• The option to deduct state and local sales taxes from federal taxes, instead of state income tax. This can mean big savings for taxpayers who itemize and live in states with no state income taxes: Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming.

• Tax-free distributions to charities. IRA owners who have reached age 70½ — and who must therefore begin to withdraw money from their retirement accounts — can contribute up to $100,000 of otherwise taxable payouts directly to charity.

Bill Includes Disaster Relief for 2008 Midwest Storm Victims

The new law provides major tax breaks for victims of the tornadoes, storms and flooding that hit the Midwest this year between May and August, similar to those given to Hurricane Katrina victims. These include tax benefits for demolition and clean up, as well as education and housing.

The bill also offers more limited tax assistance to victims of Hurricane Ike.

Check Back With TurboTax

The new law contains many changes to taxes for individuals and businesses. More details will be added at TurboTax.com as they become available.

_Updated for tax year 2009. Content provided by Kiplinger, courtesy of TurboTax, a registered trademark of Intuit Inc._

Make Your Taxes Less Taxing: Tips and Tricks

Wed, 01 Apr 2009 14:13:00 -0700

Taxes are overwhelming and complicated. There is form after form and it gets tough to keep them all straight. The most painful part, however, is seeing the toll it takes on you wallet. TurboTax, Military.com and PoliceLink have brought you expert financial advice to make your taxes as painless as possible and hopefully save a lot of money in the process.

Page 2: Tax Preparation Checklist

Page 3: 5 Ways to Make Your Taxes Less Taxing

Page 3: The 11 Most Overlooked Tax Deductions

Page 4: Top Ten Odd Ball Tax Deductions

Get all the tips and tricks....

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Page 1: Table of Contents

Page 2: Tax Preparation Checklist

Page 3: 5 Ways to Make Your Taxes Less Taxing

Page 4: The 11 Most Overlooked Tax Deductions

Page 5: Top Ten Odd Ball Tax Deductions

Tax Preparation Checklist

Go through the following checklist before you prepare your income tax return. Not every category will apply to you, so just pick those that do, and make sure you have that information available. When you're ready to prepare your income tax return using TurboTax software, you'll be surprised at how much time you'll save by organizing your information beforehand.

Before you start tax preparation

Print this checklist out. Check things off as you collect them, and enter information such as Social Security numbers and cash amounts.

[photo:411467]

If you maintain your financial data in a personal finance software program such as Quicken®, print a report of your financial transactions for 2008. This is an invaluable tax preparation resource as you prepare your income tax return, and helps you clearly see where your money goes each year. Having this information in a report is much easier than going through your checks for the entire year.

As you review the report, highlight information you will need for your tax return or make notes to remind yourself of something later. If you need more information on a certain item, the report makes it easier to find the item on the computer when you need the detail. For example, if you know you paid check number 1077 to the IRS but don't know if it was for last year's balance due, an estimated payment for this year, or an extension payment, you can do a search for check number 1077 and get more detail.
Now you're ready to start gathering information. This income tax preparation checklist is divided into relevant categories to help you organize your tax information. As you receive or locate an item, check it off of the list.

Tax Preparation Checklist.doc

Updated for tax year 2008. Content provided by Kiplinger, courtesy of TurboTax, a registered trademark of Intuit Inc.

Next Page: 5 Ways to Make Your Taxes Less Taxing

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5 Ways to Make Your Taxes Less Taxing

Let’s face it: Doing your taxes is about as exciting as mowing your lawn. But, we all have to do it. And Uncle Sam doesn’t make it easy. The U.S. tax code literally fills thousands of pages. Thankfully, you don’t need to read them all to stay on top of your taxes. Here are five things that can make doing your taxes “less taxing” as Tax Day – April 15 – approaches.

1) First, understand what kind of “Taxes” you’re paying to begin with.

2) Now let’s talk about what you can do to reduce those taxes.

They’re not automatic.

Deductions do not reduce your tax bill dollar by dollar.

3) An even better way to cut back on your tax bill is through tax credits.

4) You don’t need to go it alone.

www.aicpa.org

5) What papers do you need to save?

Next Page: The 11 Most Overlooked Tax Deductions

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The 11 Most Overlooked Tax Deductions

TurboTax helps you find tax deductions you may have overlooked. Don’t overpay taxes by overlooking tax deductions. See the most common errors taxpayers make on their tax returns. …it’s all too easy to miss a trick and pay too much…

Every year, the IRS dutifully reports the most common blunders taxpayers make on their returns. And every year, at or near the top of the list, is forgetting to enter a Social Security number or making a mistake when entering the nine digits that identify us to IRS computers.

Before you bemoan such stupidity, ask yourself a simple question: Is that the most common error? Or just the most easily noticed goof?

Who knows how many people forgot—or never knew about—a deduction that could save them money? That’s not the kind of thing over which government bean counters lose a lot of sleep.

No doubt about it: The opportunity for mistakes is almost unlimited. The most recent numbers show that about 46 million of us itemized deductions on our 1040s—claiming nearly 1 trillion dollars’ worth of deductions. That’s right: $1,000,000,000,000! Another 85 million taxpayers claimed more than half a trillion dollars’ worth of standard deductions. Some of those who took the easy way out probably shortchanged themselves. (If you turned 65 in 2007, remember that you deserve a bigger standard deduction than younger folks.)

Yes, friends, tax time is a dangerous time. It’s all too easy to miss a trick and pay too much. Years ago, the head of the IRS told Kiplinger’s Personal Finance magazine that he figured millions of taxpayers overpaid their taxes every year by overlooking just one of the money-savers listed below. Without further ado, here are our 11 most overlooked tax deductions. Claim them if you deserve them, and cut your tax bill to the bone.

1. State sales taxes.

This write-off makes sense primarily for those who live in states that do not impose an income tax. You must choose between deducting state income taxes or state sales taxes and, for most citizens of income-tax states, the income tax deduction usually is a better deal. IRS has tables for residents of states with sales taxes showing how much they can deduct. But the tables aren’t the last word. If you purchased a vehicle, boat or airplane, you get to add the state sales tax you paid to the amount shown in IRS tables for your state, to the extent the sales tax rate you paid doesn’t exceed the state’s general sales tax rate. The same goes for home building materials you purchased. These items are easy to overlook. The IRS even has a calculator on its Web site to help you figure out the deduction, which varies by your state and income level.

2. Reinvested dividends.

This isn’t really a deduction, but it is a subtraction that can save you money; this is the break former IRS Commissioner Fred Goldberg told Kiplinger’s that lots of taxpayers miss. If, like most investors, you have mutual fund dividends automatically invested in extra shares, remember that each reinvestment increases your “tax basis” in the fund. That, in turn, reduces the taxable capital gain (or increases the tax-saving loss) when you redeem shares. Forgetting to include the reinvested dividends in your basis—which you subtract from the proceeds of sale to pinpoint your gain—means overpaying your tax. TurboTax Premier and Home & Business tax preparation solutions include a very cool tool—Cost Basis Lookup—that will figure your basis for you and make sure you get credit for every dime of reinvested dividends.

3. Out-of-pocket charitable contributions.

It’s hard to overlook the big charitable gifts you made during the year, by check or payroll deduction. But the little things add up, too, and you can write off out-of-pocket costs you incur while doing good works. Ingredients for casseroles you regularly prepare for a nonprofit organization’s soup kitchen, for example, or the cost of stamps you buy for your school’s fundraiser count as a charitable contribution. If you drove your car for charity in 2007, remember to deduct 14 cents per mile.

4. Student loan interest paid by Mom and Dad.

Until recently, if parents paid back a student loan incurred by their children, no one got a tax break. To get a deduction, the law held that you had to be both liable for the debt and actually pay it yourself. But now there’s an exception. If Mom and Dad pay back the loan, the IRS treats it as though they gave the money to their child, who then paid the debt. So, a child who’s not claimed as a dependent can qualify to deduct up to $2,500 of student loan interest paid by Mom and Dad.

5. Moving expense to take first job.

Here’s an interesting dichotomy: Job-hunting expenses incurred while looking for your first job are not deductible, but moving expenses to get to that first job are. And you get this write-off even if you don’t itemize. If you moved more than 50 miles, you can deduct the cost of getting yourself and your household goods to the new area, including 20 cents per mile (plus parking fees and tolls) for driving your own car.

6. Military reservists’ travel expenses.

If you are a member of the National Guard or military reserve, you may deserve a deduction for travel expenses to drills or meetings. To qualify, you must travel more than 100 miles and be away from home overnight. If you qualify, you can deduct the cost of lodging and half the cost of your meals, plus 48.5 cents per mile (and any parking or toll fees) for driving your own car. You get this deduction whether or not you itemize.

7. Child care credit.

A credit is so much better than a deduction—it reduces your tax bill dollar for dollar. So missing one is even more painful than missing a deduction that simply reduces the amount of income that’s subject to tax. But it’s easy to overlook the child care credit if you pay your child care bills thorough a reimbursement account at work. Until a few years ago, the child care credit applied to no more than $4,800 of qualifying expenses. The law allows you to run up to $5,000 of such expenses through a tax-favored reimbursement account at work. Now, however, up to $6,000 can qualify for the credit, but the old $5,000 limit still applies to reimbursement accounts. So, if you run the maximum $5,000 through a plan at work but spend more for work-related child care, you can claim the credit on up to an extra $1,000. That would cut your tax bill by at least $200.

8. Estate tax on income in respect of a decedent.

This sounds complicated, but it can save you a lot of money if you inherited an IRA from someone whose estate was big enough to be subject to the federal estate tax. Basically, you get an income tax deduction for the amount of estate tax paid on the IRA balance. Let’s say you inherited a $100,000 IRA and the fact that the $100,000 was included in your benefactor’s estate added $45,000 to the estate tax bill. As you withdraw the money from the IRA and pay tax on it, you also get to deduct a proportional amount of the estate tax paid. If you withdraw $50,000 in one year, for example, you get to claim a $22,500 itemized deduction on Schedule A.

9. State tax you paid last spring.

Did you owe tax when you filed your 2006 state tax return in the spring of 2007? Then remember to include that amount with your state tax deduction on your 2007 return, along with state income taxes withheld from your paychecks or paid via quarterly estimated payments.

10. Refinancing points.

When you buy a house, you get to deduct points paid to obtain your mortgage in one fell swoop. When you refinance a mortgage, though, you have to deduct the points over the life of the loan. That means 1/30th a year if it’s a 30-year mortgage—that’s $33 a year for each $1,000 of points you paid. Not much, maybe, but don’t throw it away. And, in the year you pay off the loan—because you sell the house or refinance again—you may get to deduct all the as-yet-undeducted points. You do unless you refinance with the same lender. In that case, you add points on the latest deal to the leftovers from the previous refinancing and deduct the expense ratably over the life of the new loan.

11. Jury pay paid to employer.

Some employers continue to pay employees’ full salary while they are doing their civic duty, but ask that they turn over their jury fees to the corporate treasury. The only problem is that the IRS demands that you report those fees as taxable income. You’ve always had a right to deduct the amount, so you weren’t taxed on money that simply passed through your hands.

Next Page: Top Ten Odd Ball Tax Deductions

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Top Ten Odd Ball Tax Deductions

Admit it. As you've worked on your return, trying to come up with extra deductions to pump up your refund, you've taken a few flights of fancy. "Can I claim a deduction for all those blood donations at the Red Cross?" Nope.

"How about a charitable contribution for all the time I donate to the church?" Nope, again. "The wedding gift for the boss's daughter as an employee business expense?" Come on! On the other hand, over the years your fellow taxpayers have beaten the IRS in court on payments for many crazy things that most of us wouldn't even dream of claiming.

We've uncovered what we think are the weirdest deductions allowed, ranging from pet food to free beer.

1. Pet food

A couple who owned a junkyard was allowed to write off the cost of cat food they set out to attract wild cats. The feral felines did more than just eat; they also took care of snakes and rats on the property, making the place safer for customers. When the case reached the Tax Court, IRS lawyers conceded that the cost was deductible.

2. Moving the family pet

If you are changing jobs and meet a couple of tests, you can deduct your moving expenses — including the cost of moving your dog, cat or other pet from your old residence to your new home. Your pet — be it a Pekingese or a python — is treated the same as your other personal effects.

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3. A trip to Bermuda

This island is more than just a scenic place to visit: It's a great place to schedule a tax write-off. Business conventions held in Bermuda are deductible without having to show that there was a special reason for the meeting to be held there. That's a sweet perk.

Other countries in the Caribbean region qualify, too, including Barbados, Costa Rica, Dominica, the Dominican Republic, Grenada, Guyana, Honduras, Jamaica, Saint Lucia, and Trinidad and Tobago. Meetings held in Canada, Mexico and all U.S. possessions also receive this favorable tax treatment. Attend a convention in Paris, Rome or Beijing, though, and there's no deduction unless you can show it made as much sense to travel abroad as to head to Pittsburgh.

4. Body oil

A pro bodybuilder used body oil to make his muscles glisten in the lights during his competitions. The Tax Court ruled that he could deduct the cost of the oil as a business expense. Lest it be seen as a softie, though, the Court nixed deductions for buffalo meat and special vitamin supplements to enhance strength and muscle development.

5. A private airplane

Rather than drive five to seven hours to check on their rental condo or be tied to the only daily commercial flight available, a couple bought their own plane. The Tax Court allowed them to deduct their condo-related trips on the aircraft, including the cost of fuel and depreciation for the portion of time used for business-related purposes, even though these costs increased their overall rental loss.

6. Babysitting fees

Fees paid to a sitter to enable a mother to get out of the house and do volunteer work for a charity are deductible as charitable contributions, even though the money didn't go directly to the charity, according to the Tax Court. The Court expressly rejected a contrary IRS revenue ruling.

7. Breast augmentation

In an effort to get more tips, a stripper with the stage name "Chesty Love" decided to get breast implants to make her a size 56FF. A female Tax Court judge allowed Chesty to write off the cost of her operation, equating her new assets to a stage prop. Alas, the operation proved to be a problem for Chesty. She later tripped and ruptured one of her implants.

8. Landscaping

Sole proprietors who regularly meet clients in a home office can deduct part of the costs of landscaping the property. The deductible portion is based on the percentage of the home that is used for business, according to the Tax Court. The Court also allowed a deduction for part of the costs of lawn care and driveway repairs.

9. Free beer

In a novel promotion, a gas station owner gave his customers free beer in lieu of trading stamps. Proving that sometimes beer and gasoline do mix, the Tax Court allowed the write-off as a business expense.

10. Swimming pool

A taxpayer with emphysema put in a pool after his doctor told him to develop an exercise regimen. He swam in it twice a day and improved his breathing capacity. Turns out he swam in the pool more than his family did.

The Tax Court allowed him to deduct the cost of the pool (to the extent the cost exceeded its added value to the property) as a medical expense because its primary purpose was for medical care. Also, the cost of heating the pool, pool chemicals and a proportionate part of insuring the pool area were treated as medical expenses.

Bonus Oddball Deduction: Girlfriend.

The owner of several rental properties hired his live-in girlfriend to manage them. Her duties included finding furniture, overseeing repairs and running his home. The Tax Court let him deduct $2,500 of the $9,000 he paid her. The disallowed portion was for nondeductible personal services.

Updated for tax year 2008. Content provided by Kiplinger, courtesy of TurboTax, a registered trademark of Intuit Inc.

How to Avoid an Audit of Your Taxes

John Rossheim, Monster Senior Contributing Writer — Tue, 24 Mar 2009 11:45:00 -0700

Taxes are high enough; you don’t want to also pay penalties and interest because an audit reveals you’ve broken the rules. And Internal Revenue Service audits aren’t a vanishing anomaly; they’re on the upswing.

The IRS “has gotten almost nasty” in its pursuit of tax payments that could help reduce the federal deficit, says Sanford Botkin, a lawyer and CPA. Audit rates increased in 2007, both for overall individual rates and for higher-income taxpayers, reaching a 10-year high, according to IRS statistics.

Now that you’ve been forewarned, forearm yourself with these tips for reducing the chances that the IRS will send you an invitation you can’t refuse.

*Choose Your Tax Advisors and Preparer Carefully*

A highly qualified tax preparer will help you nip many common audit triggers in the bud. “You want an honest but aggressive accountant,” says Botkin, a former legal specialist with the IRS. That means interviewing preparers to determine if they will pursue all legitimate tax breaks without claiming questionable deductions that could raise red flags.

*Watch Your Itemized Deductions*

A tax return reporting a moderate $60,000 income while claiming a very large $15,000 mortgage interest deduction smells fishy. So the IRS uses computer algorithms to detect the smell of a tax return on which the key amounts relate to each other in statistically unlikely ways. That’s why it’s wise to include worksheets, disclosures, documentation or other explanations of large deductions and big changes from one tax year to the next with your return.

Small deductions that add up can also draw unwanted attention. “Look out for excessive miscellaneous itemized deductions like unreimbursed business expenses,” says Sandra Abalos, managing partner of accounting firm Abalos and Associates PC.

*Learn About Tighter Rules for Charitable Gifts, Whether Cash or In-Kind*

Keep giving, but be sure the recipients give you something back: Adequate documentation of the donation and its tax-deductible status. “Charitable contribution paper requirements are more intense this year,” says Kenn Tacchino, an adjunct professor of tax and financial planning at Widener University.

Bob Greisman, a partner with accounting firm BDO Seidman LLC in Chicago concurs. “Be careful not to take large charitable contribution deductions if you can’t back them up,” he says.

*Keep a Lid on Your Tirades*

If you really want to avoid an audit, don’t attach a statement to your return saying you’ve declared your half-acre home lot a sovereign nation not subject to US taxation.

*Beware of Garbage In, Garbage Out*

Neither a human preparer nor tax-preparation software like TurboTax or TaxCut can help you avoid an audit if you supply them with incorrect data. Because a highly qualified professional may be more likely to sense that your numbers are off, “the IRS is looking harder at returns prepared with consumer software,” Botkin says.

*Play the Calendar*

Some tax experts claim that you can cut your chances of an audit by strategically choosing when you file. The idea is to file on or within a few days before the tax deadline, usually April 15. From January to March, returns arrive at the IRS much more slowly, so the chance that any given return will be examined rises. But be sure your return is postmarked on time; late returns trigger audits.

*Remember that Neatness, Accuracy and Completeness Count*

Carelessness catches the auditors’ attention. “The number 1 audit trigger is that you didn’t include all forms or sign them,” Tacchino says.

Don’t let handwriting or an arithmetic error land you in the auditor’s hot seat. Hard-to-read returns will peeve the data-entry specialist, and math mistakes will be caught by the IRS computer and may raise a red flag.

Finally, accept that while you can significantly reduce your chances of audit, you might still receive that unwanted envelope requesting more information or summoning you to a sit-down with the feds.

A small fraction of returns -- probably less than 1 percent -- are randomly chosen for audit. “We’re seeing more of these now,” Abalos says. “In Phoenix, the IRS has trained a whole bunch of kids on audits, so we’re getting pure random training audits.”

5 Ways to Understand Your Credit Card's Fine Print

Jennifer Openshaw | WeSeed — Wed, 18 Mar 2009 06:58:00 -0700

If you're like a lot of folks, you may have just received a "Dear Valued Customer" letter in the mail from your credit card company. No, you aren't being fired, but it might feel like it.

If you have an affiliate card issued through one of the big banks, it starts like this: "This challenging business climate has led Citibank, the issuer of [XYZ] Gold MasterCard...to notify us...they are making changes to the terms of many Citibank (C) credit card offerings....including the [XYZ] MasterCard product."

Uh-oh — here it comes.

The enclosed material, one of those multipage fine-print deals, starts off with "The Changes." It tells you that the APR, minimum-finance charges, transaction fees for foreign purchases, and "other fees" have changed, and that "supplemental pricing information" appears in "...your new card agreement [which] follows this notice."

Changed from what to what? Unless you have the last version of this document handy, you probably won't know what or how much. Like too many things in personal finance, you don't know what you don't know.

You'll find a lot of these changes these days. First, because of the banking crisis, cash-strapped banks are scrounging for cash wherever they can. Second, new federal legislation that takes effect in 2010 bans universal default, double-cycle billing, and a host of other evils. That's the good news. The bad: This is driving banks to get ahead of the potential $12 billion in lost revenue.

So here's what to do.

*Call an agent*

Pick up the phone immediately and find a live agent willing to explain the changes.

4 More Tips on the Next Page >>

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*Get a comparison*

Have the agent clarify what changed, not just what your card's terms are today or after the change. If your effective APR went from "prime +14.08%" to "prime + 17.99%," have them explain that and also what the resulting rate actually is. For any fees changed, ask them what the new and old fees are. Have them do an example if necessary to illustrate total cost.

*Be persistent*

When they're done, ask if there's anything else you should know. I found out that the "penalty period" for the higher default APR if you miss a payment had increased from 6 months to 12 months. Hard to find in the fine print, and it didn't come with the first explanation.

*Pay your balances in full and on time*

The adverse changes only applied to balances carried and/or a late payment; if you pay in full and on time you won't be affected. You might consider setting up auto-pay to avoid late payments.

*Ask for the good news*

These changes all sound like a takeaway; less benefit, more cost. However, the issuer also offered attractive balance transfers, 5 months for 1.99 percent with a 3 percent transfer fee; 3.99 percent for 10 months. Some issuers may offer other benefits anticipating negative customer reactions from changes in terms.

Protecting what you have and knowing about change are important in managing your credit and your finances in general. And incidentally, the banks and card issuers that do these changes well — raising cash without angering customers — stand to come out ahead.

Jennifer Openshaw, author of The Millionaire Zone, is co-founder and president of WeSeed, whose mission is to enable people to discover the stock market in their everyday lives through their passions, their jobs and the brands they know and love. Her empowering advice, which helps everyday Americans do more with what they have, hasbeen seen on Oprah, Dr. Phil, The Today Show, CNN, CNBC, and Nightline. You can find her on Twitter @jopenshaw or on Facebook.

Bad Credit, Bad Applicant

Dr. Richard Weinblatt — Mon, 02 Feb 2009 10:29:00 -0800

Many folks applying for law enforcement jobs fret about such possible background issues as criminal history or driving record, but few consider the impact their credit report can have on them. Given the current national focus on economic and credit issues, the topic is particularly timely.

To start to understand how police background investigators, recruiters, police chiefs and sheriffs view an applicant’s credit, it is important to understand what it is and how a person’s action, or inaction, can affect the credit score. The three main credit-reporting bureaus (Equifax, Experian, and TransUnion) use a number to help banks and other lenders to assess a borrower’s risk and, if a loan is approved, what interest rate to charge.

The number they used, called a FICO score (from the Fair Isaac Company) is derived from five categories – owed amounts, payment history, length of credit history, age of credit, and type of credit utilized (credit cards are looked at more than mortgages, for instance). Credit scores range from a low of 300 up the high 800s.

Police academy students have asked me if the ads for companies offering to clean up bad credit are above board. The true medicine for an ill credit report is time and consistency in paying owed amounts on time.

So why should an applicant worry about their credit history and FICO score? Because the administrators reviewing the application are concerned with that aspect of your life. As I mentioned in my previous PoliceLink.com article Getting Hired: It’s About the Patterns they look for patterns. Patterns of responsibility and patterns of irresponsibility. That sounds a lot like the way your FICO scored is figured.

Background investigators generally are not concerned if there is some reasonable debt in your life. They just want to be sure that you are consistently honoring your obligation towards that debt. The approach demonstrates the trait of responsibility that they believe will also become evident when you get hired as a law enforcer. The concept is along the lines of the old background investigator adage that goes something like this: “past behavior is a reliable indicator of future performance.”

While law enforcement agencies have long looked to credit as a part of the background packet, other employers are using the same tactic and even insurance companies have jumped on the bandwagon. All see it as an indicator of how someone has lived their life thus far and will continue to do so.

Law enforcement agencies also reason that someone with pressing financial issues may be tempted to solicit a bribe or swipe some cash during an open door residential alarm house search. The opportunities for ill-gotten gain are ever present in law enforcement. LE executives see someone with large financial pressures as not being able to resist the temptations as much as someone who has minimal economic concerns.

So, you ask, how can a bad credit score be fixed? Much like the drunk driver that thinks coffee will help them sober up, only time and good behavior can clean up the financial house. Consistently paying on time and eliminating particularly credit card debt is the path to take. Early steps such as using a secured, pre-paid credit card will help in the recovery from a bad credit score or worse, a bankruptcy.

On the other hand, not having credit cards or any loans outstanding can also give you a low credit score due to a lack of a pattern or credit history. Many young applicants to police agencies run into this issue as they still live with their parents and drive a car that is in their parents’ name. These youthful applicants need to get some form of easily obtained credit (such as a department store credit card) and demonstrate responsibility by dutifully paying the credit card company on time. That will help them build up their FICO credit score.

As the economy continues to squeeze local governmental revenue sources, law enforcement executives have gotten pickier with the applicants they choose to hire. What used to be a sellers market is now a buyers market that favors the agencies. More segments of our society are viewing law enforcement as a steady employer in uncertain times. Credit scores are another indicator that police departments and sheriff’s offices use to ensure that only the most qualified of applicants are culled from the pack.

Six Tips to Put Your Financial House in Order

By Kim Lankford, Monster Contributing Writer — Thu, 29 Jan 2009 11:19:00 -0800

If you want to spend less time worrying about your money, then it’s time to get your financial act together. These six strategies can help improve your financial situation and simplify your life at the same time.

h4. 1. Put Your Savings on Autopilot

If you haven’t maxed out your 401k or other retirement plan at work, add an extra $50 or $100 every month. Increasing your contributions just a little can make a huge difference over time. By adding $100 per month when you’re 25, you’ll have an extra $330,000 in your 401k by the time you’re 65 if your investments return 8 percent annually, which is below the average long-term return for stocks. Since the investments are pretax, your $100 monthly investment will lower your paycheck by $75 if you’re in the 25 percent bracket. If your employer matches your contribution, you’ll get free money to help you save even more. And it’s the easiest way to save, since the money is automatically invested before you can touch it. If you’ve maxed out your 401k, invest $333 automatically every month in an IRA. Ask your IRA administrator to set up automatic payments.

h4. 2. Stop Worrying About Your Investments

Instead of poring over your investment options and wondering when - and what - you should buy and sell, have the experts do it for you. Most mutual fund companies, and quite a few 401k plans, now offer target funds that match your investments to your savings time frame. If you’re in your mid-30s, for example, you can invest your retirement money in a 2040 target date fund. This fund invests aggressively when you have more than a decade to go before retirement, then gradually gets more conservative as you approach retirement. These funds are diversified, so you don’t need to invest your retirement money anywhere else.

h4. Pay Bills Automatically

Signing up to have your bills paid automatically from your bank account saves you monthly check-writing hassles and mail-delivery worries; it also protects you from costly missed deadlines. After one late payment, some credit-card companies boost interest rates beyond 31 percent and charge late fees of nearly $40. And some card companies raise your rate if you miss a deadline on another card, even if you have a spotless record with them.

h4. 4. Streamline Your Files

Go through your financial files and toss what you don’t need. In general, you should keep your tax returns forever, but you can get rid of supporting documents after three years (six years if you have self-employment income). You can also get rid of monthly investment statements after everything matches with your year-end summaries and ATM receipts as soon as the transactions appear on your monthly bank statement.

h4. 5. Protect Your Identity the Simple Way

Instead of signing up for expensive services that monitor your credit records for identity theft, do it yourself for free. You can now get a free copy of your credit reports from each of the three bureaus (Equifax, Experian and TransUnion) every 12 months. Stagger your requests so you get one report every four months. Review each one carefully for errors or unauthorized charges.

h4. 6. Get Out of Debt

The best thing you can do to improve your financial health is eliminate high-interest debt. Try to use any bonus, raise or tax refund to pay off credit cards in full. Even adding a few hundred dollars to your payments can make a huge difference, especially if you can get your credit card company to lower your rate. If your minimum payment is 4 percent of your debt, a $5,000 balance with an 18 percent interest rate would start with a $200 monthly payment, which would take 32 months to pay off and cost $1,314 in interest. If you pay $500 per month on a 5 percent card, you’ll cut your interest charges to $118 and pay off the balance in just 11 months.

How does this simplify your life? Once you’re out of debt, you won’t have to juggle minimum payments, and you’ll save a ton in interest, which frees up extra cash to reach the rest of your financial goals.

Past Bankruptcy Can Haunt Your Job Hunt

By Dona DeZube, Monster Finance Careers Expert — Thu, 29 Jan 2009 11:19:00 -0800

If you’ve declared bankruptcy in the past, be prepared to defend that decision to a potential employer. It’s illegal for an employer not to hire or promote you because you filed bankruptcy, but it’s sometimes OK to consider bad credit, which usually precedes bankruptcy.

Companies often check credit when a job involves finance, accounting, cash or valuable merchandise and when a position requires a security clearance. “The one broad, overarching law in this area is the Fair Credit Reporting Act, and it doesn’t put much of a whammy on employers snooping around in people’s credit,” warns attorney Barbara Kate Repa, author of Your Rights in the Workplace.

Bad credit is more widespread than you’d suspect. Barry Nadell, a senior vice president of Kroll's Nashville-based Background Screening division and author of Sleuthing 101: Background Checks and the Law, says about 42.4 percent of the credit checks his firm runs come back with bankruptcies, liens, judgments or accounts that went to collection.

Kroll recommends a credit check only when a job candidate will be working in a position that can affect the company financially. That’s sound advice in light of the fact that US Equal Employment Opportunity Commission (EEOC) officials have warned employers that unnecessary credit checks may disproportionately screen out African Americans and Hispanics.

h4. First Warning

When a potential employer checks credit, you’ll be asked to sign a permission slip first, says Jennifer Brown Shaw, a partner at employment law firm Shaw Valenza LLP. “The most important thing is for the applicant to tell the truth,” she says. “They’re sure to be fired if they lie.”

If you’re told only that the company will do a “background” check, ask what that check includes and how the information will be used. To see what’s on your credit report, get a free copy.

If your credit is poor or you’ve filed bankruptcy, be ready to provide interviewers with a short, contrite explanation and to redirect the conversation to one of your strengths as well as to a reference who can back up your story. Shaw suggests something like this: “I’m not irresponsible. Here’s the reason for my poor credit -- divorce, medical problems while uninsured, etc. I hope you’ll see what’s relevant is my ability to X, Y and Z. If you call my former employer, you’ll hear that I was an excellent....”

h4. Knowing vs. Using

The fact that a potential employer pulls credit and that yours is poor doesn’t mean you won’t get the job. “A lot of companies do a credit check when they’re doing background checks, but it’s there as a complement,” says Jason B. Morris, president of employeescreenIQ, a global background screening company. “You might use it as the straw that broke the camel’s back, but never as the primary reason for a decision.”

h4. Knowing They Used It

If you do suspect a company is using your bankruptcy as the reason not to hire you, call and ask if your credit was a problem and which area of your credit was the issue, so you’ll know what to disclose next time.

If the answer is bankruptcy, you can file a complaint with the EEOC and call the US Federal Trade Commission’s Consumer Response Center at 1-877-382-4357. You can also contact the local consumer protection agency or your state attorney general.

Regardless of what you do, don’t expect much action. “There are lawyers who will take on these cases, but most won’t take it on contingency,” Shaw says. If you’re a low-income earner, you can seek help from legal aid.

At the very least, make one more attempt to change the interviewer’s mind. After all, if you made it through to the credit screen, there must be something about you that appealed to the interviewer, Shaw concludes.

h4. Read Up

Want to learn more about credit checks? The FTC has a fact sheet about employers’ use of credit checks. The nonprofit Privacy Rights Clearinghouse offers three fact sheets (16, 16a and 16b) about credit checks and employment.

How Much Should You Save?

By Kim Lankford, Monster Contributing Writer — Thu, 29 Jan 2009 11:19:00 -0800

If you're 40 or younger, it's tough to predict how much money you might need when retirement is decades away. A few key calculations, however, can help you make sure your savings plan is on track.

h4. Saving Depends on Life Stage

Rebecca Pace, a Cincinnati-based financial planner and CPA, recommends putting aside at least 10 percent of your income when you're in your 20s and 30s -- and even more if you're single. "I wouldn't expect they could continue to add a lot to it while they're raising a family, but if they've put something aside early, it should continue to work for them until they can save again," she says.

Another good reason to save aggressively now: The younger you are when you start, the longer your money will have time to grow. This means you'll need to set aside a lot less to reach the same goal than if you waited just a few more years to get started.

For example, if you're 25, you only need to invest about $3,600 per year to end up with $1 million by the time you're 65 if your investments return 8 percent per year. But if you wait until you're 30 to start, you'll need to set aside about $5,400 per year to end up with the same $1 million at age 65. And starting at 40 requires $12,700 a year to reach the same magic $1 million. Finally, you'll need a whopping $34,000 per year to reach the same goal if you procrastinate until you're 50.

A recent study by T. Rowe Price reveals most people need to set aside at least 15 percent of their pretax salary for their investments to replace 50 percent or more of their current salary in retirement. This may be enough if you're getting an extra 20 percent or more of your preretirement income in Social Security and pension payouts. But you'll need to fill more of the gap yourself if you don't expect to receive a pension, live in an expensive area or will still have a mortgage or other housing payment after retirement.

h4. How to Afford to Save

The reality is that it isn't always easy to set aside money for retirement when you're nowhere near your peak income and just trying to pay your regular bills. The good news: You have plenty of help. The IRS and most employers kick in some money, so you can set aside a substantial amount of money without taking much of a hit in your paycheck.

For example, if your employer matches 50 cents on the dollar for up to 6 percent of your salary and you earn $40,000, you'd get the maximum match if you contribute $2,400 in a 401k. In that case, you'd get $1,200 from your employer, bringing your total contribution up to $3,600.

And that $2,400 doesn't lower your paycheck dollar for dollar either, since you're investing the money pretax. If you're in the 25 percent bracket, investing $2,400 would only reduce your take-home pay by $1,800 for the year. So it actually would cost you just $150 per month to end up with a $3,600 contribution every year. Start at age 30, and you'd have about $670,000 by age 65.

If you can also afford to invest $200 per month in a Roth IRA, your total savings rate would rise to 15 percent of your $40,000 salary. Continue to invest that much for 35 years, and you could end up with more than $440,000 at age 65, totally tax-free under Roth rules. Add the two together, and you'd have more than $1.1 million for retirement.

h4. Trick Yourself into Saving

Even with all these benefits, you may not initially be able to afford to save 15 percent of your salary. And you shouldn't be setting aside that much until you cover your other bases first -- keeping three to six months' worth of living expenses in an emergency fund so you don't have to raid your retirement account (and pay steep penalties) if unexpected expenses crop up. It's also essential to pay off high-interest credit card debt first so you don't waste money on monthly interest charges.

But once you've met these obligations, the best way to maximize your money is to get it into savings before you can spend it. With a 401k, the money is subtracted from your paycheck before you see it.

You can also make automatic investments into a Roth IRA. Even just $100 per month can add up to $1,200 a year. And if you're 30 now, keep saving at that pace for the next 35 years and your investments earn 8 percent annually, you'll have about $220,000 tax-free by the time you're 65.

While you'll still need to increase your savings rate when you can afford to, these examples demonstrate it's never too early to start. And it's easy to increase your savings rate whenever you get a raise, bonus, tax refund, gift or any other form of extra money. When you're used to living on less, it's easy to invest the extra cash before you can spend it.

Budget Your Bonus

By John Rossheim, Monster Senior Contributing Writer — Thu, 29 Jan 2009 11:19:00 -0800

Memo to Americans: As a group, for every $1,000 we bring in after taxes, we are saving $7, according to the Commerce Department. Why bring this up? Because if you're anticipating an annual bonus this year, you should probably skip the cruise. Considering salary increases are barely keeping pace with inflation, no wonder white-collar workers are coveting those bonuses to help cover both wants and needs.

"The temptation to blow the whole wad on a junket to a sunny locale or on a big TV is enormous," says Ellen Weiss, a spokeswoman for financial advisory firm Leonetti & Associates.

What principle should guide you as you allocate your bonus? "Put yourself in a better position with this money than you were before," says financial planner Marc Sussman. Here's how:

h4. Identify Your Financial Priorities

How you order your financial priorities "really depends on where you are in life," says Darrell Canby, president of Canby Financial Advisors. But for the average overspending American worker, these are the most important financial moves to consider when a bonus lands in your bank account:

Pay Uncle Sam: Even though your employer withholds money from your bonus as legally required, you might owe additional state and federal taxes. Determine your tax liability before proceeding -- no investment is better than the one that keeps you out of federal prison.

Create or Bulk Up a Savings Account: Emergencies happen, but they get a lot more expensive if you have to pay for them with a credit card advance at 24 percent interest. Experts advise keeping at least three months' income in the bank to avoid such credit card calamities.

Eliminate Expensive Debt: Address any credit card balances in order of financial destructiveness. "If you have any credit card debt, apply the bonus to your highest balance or to the card with the highest interest rate," says Cate Williams, vice president of financial literacy for nonprofit debt-counseling firm Money Management International.

Invest in Retirement: Making an extra mortgage payment to move up your debt-free date is tempting, but it's not always the best way to use your bonus. "I'd rather see people put money into retirement than pay off a mortgage," Williams says. If you didn't contribute enough to your 401k last year, be sure to do it this year. If you must, set aside your bonus in a savings account to allow for higher 401k payroll deductions.

Are you 50-plus and already contribute the maximum to your 401k? Consider using your bonus to make a catch-up contribution, a retirement investment vehicle designed for the typical Baby Boomer, who hasn't put aside nearly enough. For the 2008 tax year, the 401k catch-up limit is $5,000; same for IRAs.

Save for Your Children's Education - or Your Own: Retirement should take priority, but investing for education is important, too. Money squirreled away for years in a tax-advantaged vehicle, such as a 529 plan, can accumulate and keep pace with rapidly rising college tuitions.

Put the Money Toward Your Freedom: Save for a career change, whether to pay for further education or start your own business. "A worker should put the money into a personal 'freedom fund,' where it can finance some future move up the success ladder," says Rob Bennett, author of Passion Saving: The Path to Plentiful Free Time and Soul-Satisfying Work.

Live Large - At Least for One Night: Do set aside a little money for a dinner out with the smart set or whatever satisfies your urge to consume conspicuously. This will help keep you motivated to earn a big bonus next year - which you're probably already counting on.

Give It Away: While you may not be totally happy with your bonus or salary this year, rest assured you're doing better than a lot of other people. Find a cause that speaks to you, and dip into your pockets for a related charity. Both getting and giving help make society function smoothly.

Should You Take Advice from Your 401k Provider?

John Rossheim / Monster — Tue, 13 Jan 2009 12:56:00 -0800

The Pension Protection Act, which both strengthens employers’ existing pension obligations and discourages them from undertaking new obligations, also makes a broader point to US workers: “The overall message of the bill is, you’re on your own,” says James Lange, a lawyer, CPA and author of Retire Secure.

Even so, the 2006 law has also made it less daunting for workers to shepherd their retirement funds, now most commonly in the form of a 401k plan, to a successful end, whatever their investment time frame.

What Does the New Law Say About 401k Investment Advice?

A key provision of this pension law is that it enables employers, through their 401k plan providers or third parties, to give investment advice to plan participants without substantial fear of being sued by employees displeased with the investment results they get.

“Now it has become more clearly legal for these fiduciaries to provide advice,” says Stephan Roche, vice president and general manager of the small business group at Web-based brokerage ShareBuilder.

Competition for top talent should spur employers to offer retirement investment advice as a component of their 401k plans. “Plans that don’t offer investment advice going forward will be the exception rather than the rule,” says Tim McCabe, vice president of PMFM, the investment advisor to 401k Toolbox, a provider of advice to retirement-plan participants.

This advice could help fill a gap in participants’ knowledge of investment planning. “Most 401k plan participants have received absolutely no advice on how to structure their retirement portfolios,” says Wayne Schultz, an attorney, financial advisor and vice president of Your Money Matters Brokerage Services. “Participants who otherwise had no financial counselor can now have someone to guide them through their financial lives.”

Are 401k Providers a Source of Good Counsel?

If your employer’s 401k provider does offer investment advice, should you trust it, given that the provider may be affiliated with, for example, some of the mutual funds the plan offers? The consensus is that substantial protections are built into the pension law, chiefly these:

• Investment recommendations must be made by an unbiased computer program.

• Advisory fees must not be linked to specific investments.

• The advisor’s sources of income must be transparent.

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“I think the protections are sufficient,” McCabe says. “However, there will always be a very, very small minority of financial professionals who will break the rules.”

Also, if you’re seeking comprehensive, ongoing advice, you may not find a good alternative on your own. If you have less than $500,000 to manage, many advisors won’t work for a fee computed as a percentage of those assets, because it may not be profitable, Lange says. In those cases, advisors prefer to charge a commission or other fees that could bias their advice.

Does the Advice Come at a Reasonable Price?

If your employer’s 401k provider or a subcontractor offers to manage your investments for a fee of half a percent or less of your 401k account balance, you’re getting a reasonable value, according to industry insiders.

With third-party retirement-advice providers like Financial Engines and GuidedChoice, “you pay half a percent per year,” Roche says. “I think this will shrink to [one-quarter of a percent], and that is absolutely worth it.”

With these arrangements through your employer, you’ll likely be paying less than you would if you sought advice elsewhere. “All too often I see advisors who charge between 0.75 percent and 2 percent per year [with] results [that] constantly trail the market,” Schultz says.

Couldn’t you manage your own retirement investments? Sure, but individual investors have a poor record when it comes to long-term returns; they usually trail the annual returns of major indexes by several percentage points per year. If you’re a middle-class earner, that could easily add up to a difference of hundreds of thousands of dollars by the time you retire.

“Advice will now be available to everybody,” McCabe says. “But how many participants will take the proactive steps to use it? That remains to be seen.”

Fiscally Unfit

John Rossheim / Monster — Tue, 13 Jan 2009 12:56:00 -0800

How well are America's workers prepared for financial uncertainties and for the eventuality of retirement? In their own estimation, millions of employees haven't found a secure path to a bright future, whether that future begins in a retirement 40 years from now or at the end of the month, when the bills come due.

Those are the disturbing findings of a recent survey commissioned by insurer MetLife. To put the results in perspective, we polled personal finance experts across the country.

Workers Worry About (But Don't Prepare For) Illness, Disability and Retirement

The first finding of the MetLife study: Although American workers worry about how they'll pay bills when they're sick or in retirement, they don't do enough about it. Some 71 percent of respondents said they're "extremely concerned" about having enough money to pay bills during a sudden income loss, but only 60 percent of full-time workers have disability insurance.

Even those who do act to protect their future don't always approach the task logically. "Workers are trying to decide which mutual fund will be the next winner in their 401k without even having a real sense of how much money they are trying to accumulate for retirement," says Greg McGraime, a vice president and financial planner with JPMorgan Chase in New York City.

Employees Don't Save and Invest Enough for Retirement

Many Americans feel they're losing the retirement-planning game. Nearly half (45 percent) of survey respondents say they're behind schedule in their retirement savings, and three out of 10 full-time 21- to 30-year-old workers haven't even begun to stash something away.

"I see it as good news, in that it sends a message," says Walt Woerheide, a professor of investments at American College in Bryn Mawr, Pennsylvania. "People can be alerted while there's still time to make a decision about what standard of living they choose for today versus during retirement."

Some employers spur their workers to save by automatically enrolling new hires in the company 401k plan (individuals can opt out) or offering retirement accounts packaged with investment management services.

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"With a managed 401k account, the employee hands over management of their retirement money to a service, which periodically rebalances the portfolio" as might be required by a new salary, advancing age or changing market conditions, says Don Bartolai, a principal in the Chicago office of Mellon Human Resources and Investor Solutions. The employee pays a substantial annual fee for these added services.

Voluntary Benefits Seen as a Good Thing

If workers can't get their employers to pay for financial protection like disability and life insurance, they can hope their company offers these as voluntary (read: employee-paid) benefits. In the survey, 62 percent of respondents say they like the convenience of paying for these benefits through payroll deduction.

There are other advantages to voluntary benefits. "When an employer can deliver a large group of employees to a service provider, it reduces the costs," Woerheide says. Workers also gain by simply being presented with a menu of financial services they might not otherwise consider.

Workers Say They Lack Access to Financial Education

A mere 40 percent of workers say they understand which company benefits meet their individual needs. This flies in the face of efforts some companies are making to demonstrate the value of benefits to employees.

"Through their HR departments or program vendors, employers these days are making a lot more tools available to employees to increase appreciation of what the programs are," says Pat Kendall, senior vice president of Diversified Investment Advisors in Newton, Massachusetts.

Some experts say most Americans simply don't understand the fundamentals of personal finance. "Unfortunately, our education system doesn't provide us with all the skills," says Gary Previts, a professor in the management school at Case Western Reserve University in Cleveland.

If you want to learn more, consider taking a course in personal financial planning at a community college, Previts advises. But always ask about the teacher's institutional affiliations; many financial planners teach classes to drum up business, and some may not give objective information, because they're beholden to their employers, and to their own sales quotas.

New Credit Card Protections for Consumers

Military.com Finance Center — Tue, 13 Jan 2009 12:56:00 -0800

WASHINGTON, Dec. 18 /PRNewswire-USNewswire/ - New rules adopted by the Office of Thrift Supervision today will help protect consumers from certain abusive credit card lending practices that can result in excessive fees and interest rate charges. The rules were developed in conjunction with the Federal Reserve Board and National Credit Union Administration, which are expected to adopt the same regulations later today. The new regulations will go into effect on July 1, 2010.

"Millions of families have been stung by unfair credit card practices that trap them in debt and make it harder to make ends meet," said Gail Hillebrand, Consumers Union Financial Services Campaign Manager. "When these rules finally go into effect, they will help protect consumers from being gouged by credit card companies and make it easier for families to manage their finances during these tough economic times." While praising the new protections, Consumers Union criticized the 18 month delay before consumers finally get relief.

Among other things, the new rules will protect consumers by:

Prohibiting credit card companies from raising interest rates on money already borrowed unless the money was borrowed on a variable rate card, or the minimum payment is made more than 30 days late.

Protecting new cardholders by prohibiting interest rate hikes in the first year of an account. The only way interest rates can go up in the first year is if the card issuer disclosed a future rate hike at a preset time when the account was opened.

Imposing a new rule that zero interest means zero, ending the practice of so-called deferred interest.

Prohibiting credit card companies from charging a late fee if the bill was mailed to the consumer less than 21 days before the due date.

Requiring payments to be allocated fairly among credit card balances with different interest rates. Payments must be allocated to the highest interest balance or pro rata.

Prohibiting credit card companies from charging interest on amounts already repaid, through two cycle billing.

Restricting the financing of fees on credit cards where the fees or deposits use up the majority of the available credit on the account.

Over a third of all credit card users were charged late fees in 2005, according to a report by the Government Accountability Office (GAO). The GAO also found that top six credit card issuers collected $7.4 billion in penalty fees during that year.

On top of penalty fees, the vast majority of credit card contracts allow issuers to increase the interest rate for consumers who pay their bill late, even by a few hours. A low interest rate on a credit card can climb to 30 percent or more after a single late payment or if consumers fall behind on payments to other creditors. These penalty interest rates apply not only to future purchases but also the consumer's existing balance.

The new regulations were adopted after the Federal Reserve Board received a flood of comments from approximately 66,000 people who weighed in on the proposal - mostly in support of tougher protections for consumers. While the new rules will provide important new protections, more safeguards are needed to address other lending practices that can make it difficult for consumers to manage their credit. Other reforms needed to address some of the abusive practices that hurt consumers are:

* • Limiting the amount of "penalty" interest rates, and how long card companies can keep you at these extremely high rates.
* • Prohibiting fees for paying a credit card by phone or Internet.
* • Prohibiting account-opening fees no more than 10 percent of the credit limit.
* • Banning multiple over-limit fees during a single billing cycle.
* • Ending all over-limit fees when it's the card company's fault. A consumer shouldn't be penalized when the credit card company approves a transaction, imposes a credit hold, or charges fees that put the consumer over the credit limit.

"The new credit card regulations adopted today will help restore some basic fairness to the credit card marketplace, but there is more work to do to protect consumers," said Pam Banks, Policy Counsel for Consumers Union. "It's time to end excessive credit card interest rates and fees that undermine the financial well being of millions of American families."

The three federal agencies decided to put off action on a proposed set of new rules regarding the automatic enrollment of consumers in overdraft loan programs and re-issued a new proposed rule for comment. These programs cost consumers $17.5 billion in fees annually, for $15.8 billion in loans. Consumer groups had criticized the overdraft proposal as too weak. Consumers Union has called on federal regulators to require opt-in before consumers can be charged overdraft fees.

5 Money Mistakes Smart People Make

Military.com Finance Center — Tue, 13 Jan 2009 12:56:00 -0800

Everyone has at least one frugal friend who always crows about how much money he saves by clipping coupons or frequenting discount stores. And while this friend’s behavior/bragging is a great reminder of how you should be more financially savvy — especially when the U.S. economy isn’t in the best shape — he may overlook some simple savings strategies that you’ve already figured out.

Even the smartest saver can make mistakes, and Bankrate.com published a list of those easy to miss but, oh-so-simple savings strategies that everyone should mind.

h4. Mistake No.1: Minding the pennies and missing dollars

Driving across town to use a 50-cent coupon, or to shop at an outlet store isn’t saving you as much dough as you think. In fact, you may have spent more in gas just to get to that tucked-away discount store. Bankrate.com advises that you focus on your long-term financial goals, while you save on the small items. For example, if you find that you saved $7 with coupons, walk over to your ATM and deposit that $7 into a savings account, instead of spending it on something else.

h4. Mistake No.2: Being confused by credit reports

Not knowing your credit score, especially if it’s poor, can cost you more money if you want to buy a car or rent a home. Scour your credit report for any outstanding balances or inconsistencies. Even if you know your credit score, you should request a copy of your report every year before you make a major purchase.

h4. Mistake No.3: Letting budgeting get you down

Budgeting becomes a drag when you find yourself staying in more or buying less fun things to save money. But, keep in mind that most people don’t like to save. Prior to the economy’s trouble, the U.S. savings rate was less than 1 percent, according to the U.S. Commerce Department. Apparently, more Americans found it more fun to spend rather than save. In order to make spending feel less like a chore, identify three areas where spend too much and try to deduct the amount you spend on each.

h4. Mistake No.4: Letting your money leak away

Money leaks are those little ways you spend money without even thinking about it, such as the $20 you hand your kid when he asks for it, or your daily latte. Try to keep track of all these money leaks by logging them into a journal. At the end of the week, you will see just how much money coming out of your account, and where you need to plug the leak.

h4. Mistake No.5: Being out of touch

Try to stay up-to-date on family finances. If one spouse is in control of taxes, bills and investments, etc., make sure you’re knowledgeable about where key financial documents are and how much is being spent and when. If you don’t, you could be in for a rude awakening.

Five Ways to Cut Your Commuting Costs

Kim Lankford | Monster.com — Tue, 13 Jan 2009 12:55:00 -0800

Ever wonder how much money you can save by cutting your commuting costs? How about enough to pay for two trips to Ireland plus several major home improvements?

As chief of marketing for the Maryland Transit Administration, Buddy Alves set out to see how much money he and his wife could save on their commute from the Baltimore suburbs to their downtown offices. The couple started taking the light rail instead of driving separate cars and investing the cost difference in mutual funds. Not only did the Alveses save on gas and parking costs, but they also needed less car maintenance, saved on their auto insurance and got transit pass discounts from their employers.

After 10 years, the results were astounding: The Alveses had enough money to cover two trips to Ireland, pay for a $3,000 fence, spend $2,000 to repave their driveway and splurge about $4,000 to refurnish their living room.

AAA estimates that when you add in all the costs of commuting, including car depreciation, maintenance, tires, insurance and fuel, the cost rises to 55 cents per mile, so lowering your commuting costs can be a great way to put extra money in your pocket. Try these tips.

Next page: Improve Your Gas Mileage

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Improve Your Gas Mileage

Buying a fuel-efficient car is an obvious way to save, but you can make other driving decisions to stretch your gas mileage even further. Robert Hall, fleet environmental manager for UPS, which has more than 88,000 vehicles, knows firsthand how these strategies can add up. Here are his recommendations:

• Avoid left turns, which waste gas while you idle and wait to turn across traffic. UPS routes are designed to avoid them.

• Maintaining your car, which can be as simple as making sure the tires are properly inflated, can positively affect gas mileage.

• Reduce weight in the car. Unnecessary items can contribute to lower gas mileage.

• Avoid rush-hour traffic. Leaving a little earlier or later can reduce the amount of money you spend on fuel while you’re idling in a traffic jam.

• If both spouses drive to work in separate cars, use the more fuel-efficient one for the longest commute.

Next page: Take Advantage of Benefits from Your Employer

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Take Advantage of Benefits from Your Employer

The federal and most state governments offer big tax breaks for commuters. These laws allow employees to spend up to $105 per month in pretax money on transit passes or van-pool expenses and up to $205 per month in parking benefits, as long as their employer offers the benefit. Like money you contribute to a 401k or flexible-spending account, what you spend on transit passes or parking lowers your taxable income and thus your tax bill. If you’re in the 25 percent federal tax bracket, you’ll only pay about $48 for a $64 pass -- and even less when you subtract state and FICA taxes.

Some states offer more benefits. For example, Maryland offers employers an extra 50 percent tax credit for providing transit passes. If the employer gives the employee the pass rather than having the cost deducted from their paycheck, the company can take a federal and state tax deduction as a business expense plus get the 50 percent Maryland tax credit. As a result, an employer ends up paying about $11 for a $64 transit pass if the employee is in the 25 percent tax bracket, says Alves.

If your employer doesn’t provide these perks, lobby for them. They cost the employer little or no money but are valuable employee benefits that can attract workers and help them save. “A typical commute costs about $1,000 a year, and this will save them about $400,” says Jon Kessler, chairman of WageWorks, a company that helps employers administer these plans.

Next page: Look for Other Transit Discounts

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Look for Other Transit Discounts

Those over age 65 ride Maryland’s commuter rail trains half price, while students save 15 percent on most commuter rail passes. Students at participating colleges can get a $64 pass for local bus, light rail or subway for only $39. Most states offer similar discount programs.

Share a Ride

Carpooling and vanpooling helps you split commuting costs over several people, which is particularly helpful in areas lacking good public transportation. You may even be able to use up to $105 per month in pretax money for van-pool costs if your employer offers the benefit. Most states or counties have databases to hook people up with ride-share partners or van pools that have similar schedules and commutes. Check out your state’s department of transportation or CommuterChoice.com for resources.

Cut Your Car Insurance Costs

If you cut your commute, make sure you tell your insurer. You’ll generally get a low-mileage discount if you drive fewer than 7,500 miles per year.

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5 Ways to Vet Your Next Employer

Read the first tip>>>

Research their financial health

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Understand the company's past, present and future

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Get to know the top-level executives

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Get employer “references”

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Look around you

Should You Quit Your Job (Even Now)?

Next Page: True quitting stories

Next Page: Dreaming big

Next Page: Should you quit?

Next Page: Time to quit? How to prepare

Next Page: How much in savings will you need?

Next Page: Got another job lined up?Proceed with caution anyway

Still planning to leave? Go to our Job Hunting Tips section for more advice

More Companies Cut or End 401(k) Plan Matches

How to Apply for Unemployment Benefits

What to Expect when Applying for Unemployment Insurance

What to Keep in Mind Once you Have Applied

How Obama’s Stimulus Plan will help Unemployment Insurance

Your Job Search Expenses May Be Tax-Deductible

Three Major Deduction Categories

Before You Take That Deduction, Consider These 4 Factors

Bailout Bill Extends Tax Breaks for Individuals

Make Your Taxes Less Taxing: Tips and Tricks

Page 2: Tax Preparation Checklist

Page 3: 5 Ways to Make Your Taxes Less Taxing

Page 3: The 11 Most Overlooked Tax Deductions

Page 4: Top Ten Odd Ball Tax Deductions

Tax Preparation Checklist

Before you start tax preparation

Next Page: 5 Ways to Make Your Taxes Less Taxing

5 Ways to Make Your Taxes Less Taxing

1) First, understand what kind of “Taxes” you’re paying to begin with.

2) Now let’s talk about what you can do to reduce those taxes.

3) An even better way to cut back on your tax bill is through tax credits.

4) You don’t need to go it alone.

5) What papers do you need to save?

Next Page: The 11 Most Overlooked Tax Deductions

The 11 Most Overlooked Tax Deductions

1. State sales taxes.

2. Reinvested dividends.

3. Out-of-pocket charitable contributions.

4. Student loan interest paid by Mom and Dad.

5. Moving expense to take first job.

6. Military reservists’ travel expenses.

7. Child care credit.

8. Estate tax on income in respect of a decedent.

9. State tax you paid last spring.

10. Refinancing points.

11. Jury pay paid to employer.

Next Page: Top Ten Odd Ball Tax Deductions

Top Ten Odd Ball Tax Deductions

1. Pet food

2. Moving the family pet

3. A trip to Bermuda

4. Body oil

5. A private airplane

6. Babysitting fees

7. Breast augmentation

8. Landscaping

9. Free beer

10. Swimming pool

Bonus Oddball Deduction: Girlfriend.

How to Avoid an Audit of Your Taxes

5 Ways to Understand Your Credit Card's Fine Print

Bad Credit, Bad Applicant

Six Tips to Put Your Financial House in Order

Past Bankruptcy Can Haunt Your Job Hunt

How Much Should You Save?

Budget Your Bonus

Should You Take Advice from Your 401k Provider?

Fiscally Unfit

New Credit Card Protections for Consumers

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Proceed with caution anyway