Declare Financial Independence in July

Take time this July to declare your financial independence! Start setting goals to become debt free, open an emergency savings account, and/or increase your monthly payment for your student loans. Whatever the financial obstacle may be, dedicate some time and planning this month to start taking the right steps toward your financial independence. Let us know what goal(s) you will be working toward in July and throughout the rest of 2014! Already financially independent? Spread the word to friends and family and help them get on the road to financial independence.

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Taxpayer Bill of Rights

The IRS officially adopted a Taxpayer Bill of Rights, one of the top priorities for National Taxpayer Advocate and the Taxpayer Advocate Service for the past several years. The Taxpayer Bill of Rights or TBOR takes the many existing rights in the tax code and groups them into ten broad categories modeled on the U.S. Constitution’s Bill of Rights, making them easier to understand.
Read the article.

Online Tool Helps Take Guess Work Out of College Debt

High school seniors are graduating this month and many will be heading off to college this fall. Syndicated columnist Teresa McUsic says now is the time to bear down and really assess whether the student loan debt is going to be worth it financially after they graduate. Fortunately, there is a relatively easy way to calculate this, with a Texas specific debt-to-income online tool that can give the information students need to become “smart buyers” of their education.
Read Teresa’s column this month to learn more!.

Manage Summer Spending

Many of us get the itch to spend money during the dog days of summer, whether we’re traveling, hosting a BBQ or combat boredom at the mall. According to a recent survey from the American Institute of CPAs (AICPA), about six in 10 U.S. adults (59 percent) said their financial tension during the summer matches or exceeds the stress they feel during the year-end holiday season. With summer vacation in clear view, AICPA has a few smart tips to help you start saving now and curb impulse spending over the next few months.
Read the article
Consider these low-cost or no-cost savings activities for your family this summer
Save Money on Your Vacation

IRS Offers Online, Self-Start Appeals Mediation Tool

For many of us, tax season is a thing of the past. However, there are some taxpayers who find themselves still dealing with the IRS and their 2013 taxes. If you are still working through your tax situation and are unhappy with the IRS’s decision or action, they have created an online tool to guide you through the appeals mediation process. This self-help tool explains the different IRS mediation programs available and aims to help you understand when to discuss mediation with the IRS person assigned to your case.
If you think your situation applies, take a look at this website.

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The Savvy Consumer

Teresa McUsicLearn personal finance tips from nationally syndicated columnist Teresa McUsic.
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