Category: Financial Tips
The Dangers of Cosigning On A Debt
Cosigning on a debt is almost never recommended. However, it’s a tough decision sometimes when you have friends or family that need you to cosign on a debt to receive the necessary loan. Typically, though, it’s not a good idea to cosign on a debt. Let’s find out why. What is a cosigner? When someone … Read more
Do I Have To Pay Taxes On Workers’ Compensation Settlements?
The task of fighting for, being approved and actually receiving your workers’ compensation settlement is daunting enough, but what are you to do when you file taxes? Do you pay taxes on the settlements? Should you be setting money aside to cover that?
Circling a Date on CalendarThe answer to your question is no. Workers’ compensation settlements are fully tax-exempt if paid under the Workers’ Compensation Act; according to Publication 907, “Workers’ Compensation for an occupational sickness or injury if paid under a Workers’ Compensation act or similar law” is exempt.
How Do I File For Unemployment Benefits in North Carolina?
If you have been fired or laid off from employment due to no fault of your own, you are potentially eligible for unemployment benefits. Filing a claim for unemployment benefits may be confusing and frustrating. In order to be successful in filing a claim, you should choose the best course for your unemployment application. You … Read more
Should I Refinance My House to Pay Off Debt?
Desperate times require desperate measures or so the saying goes. If you are struggling to pay your debts, primarily the result of the minimum payments on credit cards, medical bills, personal loans, taxes, student loans, etc., should you consider refinancing your home to pay off the debt? There are several factors to consider. First, you … Read more
How Do I Get A Copy of My North Carolina Tax Returns?
http://www.youtube.com/watch?v=L4tooKW_gRM There are many times when you may need a copy of your North Carolina state income tax returns. If you are in legal proceedings such as a divorce or bankruptcy, the court may require a copy or copies of your tax returns. If you are applying for a mortgage loan, the underwriter will require … Read more
How Do I Apply For Food Stamps?
Food stamps are a wonderful benefit for those who qualify. If there are times when you are finding yourself in the predicament of deciding whether to pay the energy bill or buy groceries for the week, you should take the time to research the eligibility requirements for food stamps. If you are in North Carolina, … Read more
How Do I Get Financing for a Vehicle After Bankruptcy?
Often, when a person files bankruptcy, they are in one of four situations regarding a vehicle: They are behind on their payments and must surrender the car (this usually happens in a Chapter 7 bankruptcy). They drive an older vehicle that is paid off. They are borrowing a friend or family member’s vehicle. They are … Read more
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