Red Mail Box with Money Pouring Out Isolated on White Background.

Tips for successful tax return.

Having an advisory team is pretty critical to achieving your financial goals. This can help you achieve goals faster than you ever thought. Most people consider taxes return as the single biggest expense. This makes finding the right tax preparer for your team is critical to help you in your financial responsibilities. How do you get to know that tax preparer that is right for you? Firstly, remember that not all the tax preparers are the same. Secondly, the correct tax preparer for you depends on what is important to you.  This can only be understood by asking yourself one question, what makes your tax return successfully? There are certain step stated that help you in a successful tax return.

  • TIP 1: Paying least amount of tax legally

Your tax return should be paid lawfully, and your tax preparer needs to be very well aware of the tax laws to be creative legally. Make sure that your tax preparer asks you a lot of questions about your situation to your goals. Go through a review and preview process which can help you review your return solely on the purpose of how to reduce your taxes.

  • TIP 2: Minimizing tax return preparation fees

Try to focus on the tax work and recommend someone else for all the non-tax work such as a bookkeeper, to keep you filled in on all financial update.  Also, request your tax prepares to provide you with relevant tax information in a certain format that helps you be updated at all time. If possible and require, input your information online as a back-up. Find out more information in this site : http://www.taxreturnco.com.au

  • TIP 3: Reducing audit risk

You should be well aware of the tax law and should know how to report your activity accurately. You should also understand the function IRS’s current which includes the “hot buttons” or “red flags.” And finally also offer a defense audit plan.

  • Tip 4: Common suggestions include

Organize and maintain your information. It is not only the job of your tax preparer but it your responsibility too.  In fact, your tax preparer should help you with organizing the information by maintaining forms, spreadsheets, and any other tools available to organize your tax return information. Furthermore, besides a tax preparer also hire a bookkeeper. Be careful while you enter your information online. Many tax preparers now require their clients to input information online and accurately entered information could reduce fees. Click here.

How tax return could have its disadvantages. One significant problem of getting a tax refund is that you are giving your state an interest-free loan from your money while you could be using it for whatever you wanted to do with it. This is kind of way to force yourself to save extra withholdings until the tax year is over. It is usually good for someone who is not sure if they would be disciplined enough to have less taken out of their paycheck and then put that difference into an investment or bank account. Therefore, while choosing you tax preparer and while paying tax refund, take extra care of what could be the possible outcomes.

tax return australia

9 Little-Known Ways to Pay Fewer Taxes

 

If you’d really like to maximise your tax return, but don’t even know where to start, keep reading. We share some top tips to ensure you get the best from your tax refunds.

How can I maximise my tax refund?

Would you believe us if we told you income taxes will be a bigger lifetime expense than a house or a college education? It’s true. If you don’t have taxes under control, the chances of you stabilising the rest of your income are very minimal. While most people take steps to reduce their tax expenditure through their tax returns, most people’s tax returns are far from optimised.

Do you mean cheating on your tax return?

No, of course not. While some people may get away with cheating on tax returns for a long period, eventually they come short. There are plenty of legitimate ways for you to ensure that you do not hand over unnecessary money to the government without you going as far as to try to cheat the system. It’s a case of knowledge- the revenue service is never going to tell you failed to claim a deduction, but there’s many perfectly legitimate deductions you can make to contribute to your tax refund.

What tips do you have for tax returns?

Start by looking at your car and optimising your tax return with regards to your mileage. For starters, you are entitled to claim business expenditure for any trips you make on your employer’s behalf which you are not reimbursed for. You can also deduct any travel expenses relating to charitable work you do. If you need to undertake further education and training for work purposes, those costs can also be claimed. It will have to be education required by your employer [or the law] and improve skills in your work environment. Any legitimate education courses, however, can be claimed on your tax return. See how ?

What else can I claim a tax refund on?

Do you maintain a home office used in your employment? You will also be able to deduct certain expenses for this cost. There are generally some guidelines to follow, however, which may very slightly depending on your area. However, mostly it is required that it is your primary office, you used it to meet customers, and the area is exclusive to that purpose. Remember, too, that you will get tax refunds back on retirement savings- so fund them to the full- and you can claim capital losses against capital gains too. You may also want to check with a finance professional about the following categories as the law can get difficult to follow, but gifting assets to your children is possible to help reduce your estate liabilities, and certain child care expenses can also be claimed on your tax return to help increase your tax refund.

Remember that many of these deductions should be filtered through a tax professional who is aggressive in getting you money back on your tax return. You may even be able to claim for tax refunds on previous years via previous year’s tax returns if you get a concerned professional willing to help.

 

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Five last-minute tips for maximising your tax refund

The 2015 is going to end and it is time to deal with the tax refunds of this financial year. The tax season requires you to focus on the tax bill to get a nice refund on the tax return. If you have not prepared for it yet, then start it now because it is not too late. You can improve your standing with some tips. You can use the records from the end of the June to maximize the deductions and get the personal income taxes. There are some tips that will help you to focus on the tax refunds:

Get Deduction for Office at Home

There is no need to be self-employed to claim a tax refund on the home office. If you are responsible for handling various emails from home or dealing with the teleworking arrangements, then you can claim tax deductions for the equipment and the running costs. It may not be limited to the internet costs or phone costs because it may include the things like desks, lamps and chairs.

Prepaid Expenses of the Subsequent Year

If you have paid any expense for the property for almost 12 months, then you can get the advantage of tax return. You can use this prepaid expense to get deductions for the current year. You may include water rates, corporate fees and repair expenses. You may pay for insurance for the protection of your income in advance. The membership fees and subscriptions of newspapers and magazines can also be calculated as prepaid expenses. More details here!

Upgrade Work Tools

If you are running your own business, then you have to check the small business start-up requirements. There are some useful tax break options that you can use for your own advantage. The business related costs may help you to take the advantage of taxable income and you may not bear the maximum expense. You can get the advantage of immediate tax deductions instead of focusing on the depreciation and working life.

It is important to remember that the tax deductions and tax return may not be in the form of dollars. You may claim deduction of your taxable income, but it will not come straightly back in the full amount. You may get the half value of the expenses paid by you. These deductions should not trick budget announcements.

Claim Small Shoppings

You can still claim a tax refund without running your own business because you have some items for income producing purposes. The items can be expensive enough to get a tax refund on its working life. It can be a portable hard drive, wireless router or a keyboard.

Delay Income

To get help for tax refunds and returns, you can get the advantage of taxreturnco.com.au. The delay in any income will help you to get tax benefits. You may earn the money after the end of financial year, and it will not be taxed in this financial year. This cost may include capital gains, salaries and bonuses.

tax

I Traveled to Australia – Can I Get an Australian Tax Refund?

taxreturnco.com.au – Australia is a hotbed of tourism and individuals everywhere throughout the world come to appreciate the shorelines, the outback, and the coral reefs that Australia brings to the table. The other thing that Australia brings to the table is taxes. In the same way as other nations around the globe, Australia has a Value Added Tax (VAT) and, similar to a great deal of nations, this VAT can reach up to 17.5%!

A horrendous part to pay in case you’re simply going by Luckily, Australia has a Tourist Refund Scheme (TRS) which takes into account guests to its beautiful nation to get some of that VAT back…provided they take after the correct steps. Fortunately, the strides are really simple for tax refund:

Verify you meet the prerequisites.

To assert an Australian tax refund as a visitor, you need to verify that you burn through $300 (or all the more, including tax) in a solitary store, 30 days prior to flight. You additionally need to verify you get a solitary tax receipt for every one of that merchandise. Your merchandise additionally should be of a certain sort (no sustenance, however wine checks). You can likewise utilize the merchandise (like cameras) before leaving the nation, which varies from a great deal of spots.moved here!

Wear or convey those products at the air terminal.

You must have the capacity to display any merchandise to custom authorities at the airplane terminal in the event that you need to get an Australian tax refund. This can be somewhat of an undeniable irritation, however in the event that you purchased a $1000 cowhide coat or a $600 jug of wine while going to, the cash back will be well justified, despite all the trouble.

Present the products for review as required.

On the off chance that you fit the bill for an Australian tax refund, traditions authorities will presumably need to take a gander at your merchandise. This examination can take a touch of time, so get ready for it. Additionally have everything prepared for them. Verify your merchandise arrives, your single tax receipt (or receipt) is close by, and that you likewise have your travel permit and worldwide ticket accessible. Every one of these types of distinguishing proof as fundamental to asserting your tax refund.continue reading this:http://mozo.com.au/blog/2015/10/monday-moneyvator-get-your-diy-tax-return-in-before-31-october/

Make your cases before you clear out. You can’t get your Australian tax refund on your products in the event that you fly out of the nation before you make it (however this is diverse for understudies you lived in Australia for duration of time). Claims for an Australian tax refund are accessible up to 30 minutes prior to your flight leaves, so that is a lot of time to round out that frame. Note that the refund sum is essentially the expense of the things separated by 11 for standard products and 14.5 for wine. So even before you abandon you can know the amount you will be getting back.

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Sit tight for the Australian tax refund to show up.
Since you’ve done all the research material and examinations, you can sit tight for the tax refund to arrive. You will either get paid with check, credit to an Australian financial balance, or a MasterCard. It for the most part takes 15 days to show up. So, on the off chance that it has taken longer, contact Australian traditions authorities.

The Tourist Refund Scheme is an amazingly simple procedure in the event that you run in with some information and arrangement a bit. So when you’re going by Australia next, don’t be reluctant to spend too much on some extravagance things – all things considered, will be getting a tax refund!

Tax Returns in Australia

Tax Returns in Australia – An Outline

In Australia, tax returns are for the most part due on October 31 for the year finishing June 30 in the same timetable year. The money related year keeps running from July 1 to June 30. Stand out this from USA whose monetary year keeps running from October 1 to September 30.

Augmentations to the due date are accessible, particularly when the tax return is submitted by means of tax operators. Tax returns may be put together by post or electronically utilizing the ATO’s e-Tax programming.

The Australian taxation framework is seen to be truly complex and this perspective is upheld by the way that near 80% of Australian’s utilization a tax operators to help with the arrangement of their tax returns.

Australian organizations may be obliged to pay taxes to all levels of neighborhood, state and national governments. In Australia these taxes are utilized to pay for the conveyance of open administrations, for example, general society clinic framework and streets.see page at:http://www.dailytelegraph.com.au/news/opinion/samantha-maiden-asks-what-malcolm-turnbulls-tax-return-would-really-show/story-fni0cwl5-1227572657902?sv=3f60f78520bb6edcf8c96320ccc09df4

Australian tax law characterizes stringent reporting necessities in connection to tax returns in Australia. The tax returns you are obliged to submit are dictated by your business structure and working conditions. This layout considers sole dealers, organizations, trusts and companies. It additionally touches on the issue of incidental advantages tax.

Income Tax

Income tax is forced by the Federal Government in Australia as is predictable over all states. This has not generally been the situation. Before World War II income tax was forced by the different State Governments. It is the hugest hatchet giving the best commitment to open income.

A company must cabin a company tax return.

The income tax of the company is not quite the same as your own income tax for which you have to hotel an individual return. The return will demonstrate the company’s net income which is the measure of income less permitted reasoning’s.

The corporate income tax rate is settled at 30% of the net taxable income which is at a comparable level to the United States, Mexico, New Zealand, Turkey and the United Kingdom (source: OECD Tax Database). Compare this to Hungary’s 16% and the Slovak Republic’s 19% and at the flip side of the scale, Spain with a corporate tax rate of 35%.

A Trust must hotel a trust tax return determining its income less costs and reasoning’s. The recipients of the trust should likewise report any income or advantage got from the trust. This incorporates any assessable income, for example, compensation, wages, profits and rental income.

An organization must cabin an association tax return.

• The tax return must demonstrate the net income which is figured by subtracting costs and different findings from the gross income. Every accomplice must report their offer of the association net income, compensation or pay, profits and rental income in their individual return.

• A sole broker works their business for the sake of the proprietor. Their taxable income or misfortune is accounted for in their individual return and additionally some other income as compensation and wages, profits and rental income, short any reasoning’s that are permitted to be guaranteed against these sums.

• Both organization and sole broker tax returns are successfully writing about the income of the individual as opposed to on a corporate substance. Individual tax rates are computed on a dynamic scale rather than the corporate tax rate which is a level rate over the entire income range.read this post here!

Business Activity Statement (BAS)

Organizations with turnover more noteworthy than $75,000 p.a. ($150,000 for non-benefit associations) are obliged to present a GST return, commonly called a BAS. Business falling beneath the edge may even now choose to become GST enrolled and would then need to cabin a GST return. Aside from Canada which has a worth included tax rate of 7%, Australia’s GST, ay 10%, is the most minimal in comparison to different nations.

Tax Returns in Australia

Case in point, New Zealand’s is 12.5%, the UK’s is 17.5% and Ireland’s is 21%. The GST framework was presented in Australia in July 2000 by the Howard Government and supplanted different taxes, for example, the state based deals tax. The income got from the GST is conveyed to the states to empower the procurement of state based open administrations, for example, training.

Incidental advantage Tax (FBT); Incidental advantage Tax (FBT) is a tax that is paid on particular advantages workers, or their partners, get from a manager in lieu of pay or wages. Common samples are: low intrigue credit, company auto and some diversion advantages of using taxreturnco.com.au.

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Can My Friend Do My Tax Return For Me?

They say that there are two assurances in life: passing and taxes that is tax return. Be that as it may, we are almost certain there’s a third: tax returns can be a cerebral pain to complete. This is particularly valid in Australia, which has an exceptionally complicated tax return framework. Like the vast majority, you most likely have that one companion who appears to be resolute by doing their taxes.

(Wouldn’t that be pleasant?) You may have pondered, “Would I be able to get my companion simplydoes my tax return for me?”

Choose whom to do your tax returns

It appears to be sufficiently guiltless and simple, to get a companion to do your taxes for you. Be that as it may, hang on — it is not the best arrangement.

There are other simple ways that are less dangerous. In answer to your inquiry, well the essential answer is a firm “no”. There are some imperative reasons you ought to rethink disregarding your taxes to a companion. (Try not to stress – this does not mean you need to do your return without anyone else’s input! However, we’ll get to that toward the end.)
Along these lines, why not finish your tax return by a companion?go here!

Your TFN Will Be More Vulnerable

On the off chance that you’ve considered, “Can my companion do my tax return?” odds are you believe them all that much. Be that as it may, even along these lines, it’s better not to depend them with your own points of interest – including your tax document number (TFN).

Why not? Well regardless of the fact that your companion is 100% reliable, offering points of interest to despite everything they expand your danger of wholesale fraud or fraud. The issue covers up inside a straightforward measurement:

Every time you impart your TFN to somebody, it copies the chances that it could be stolen or hacked. It could be taken from your companion’s telephone, email, computer, work area, and so on. Each spot it is put away or shared includes hazard for you.

So from a security point of view, it is better not to impart your subtle elements and TFN to anybody, even your companions, and relatives. Just impart your TFN to your tax operators (like taxreturnco.com.au), your superintendent, your bank and your superstore.

You Could Miss Out on Deductions

Have you ever had an ordeal doing your tax return when an inquiry or something else refreshed your memory, and you all of a sudden acknowledged you had a receipt for an additional finding you could assert? Some of the time, it is just while you are doing your tax return that you recall claiming other costs.

Furthermore, every one method more cash in your pocket. In the event that your companion does your tax return for you, they will not have these minutes. All things considered, they did not spend the cash. You did. This implies that requesting that your companion do your tax return could mean you pass up a significant opportunity for additional money at tax time.

The Buck Stops with You

Regardless of how great your companion is at rounding out your tax return, they are still human. They could commit an error. On the other hand, they may not pronounce something because they neglected to get some information about it.

The fact of the matter is that, in terms of your tax return, the buck stops with you. On the off chance that there’s an issue with your return, the taxreturnco.com.au will not come thumping on your companion’s entryway. They’ll be thumping on your entryway.

Most Australians Use a Tax Agent – Here’s Why

Reviews demonstrate that more than 70% of Australians utilize tax operators for their tax return. This incorporates tax operators you need to visit at a neighborhood office, and also administrations like taxreturnco.com.au, which gives tax specialists departmentsusing a helpful, simple toutilize online entry.

Most Australians trust tax operators for a few reasons:

• Using enrolled operators helps keep your points of interest safe

• Your tax workers know the right things to ask to help you assert more conclusions

• It gives you the certainty your return is done right

• A tax operator is on your side, helping you manage the ATO

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• Moreover, on the off chance that you utilize the online tax operators like taxreturnco.com.au, it is much speedier and less demanding!

As should be obvious, while your companion, in fact, could do your tax return, it is a vastly improved thought to enrolling the assistant

Individual Tax Return

Tax Return Australia: Individual Tax Return

The vast majority of Australia’s populace is obliged to hold up the tax return yearly. Your tax return Australia must include your taxable income for the entire year that is based from July first until the 30th of June.

When you have paid more taxes compared to what you should, you’re qualified for get a refund of this sum. When you have paid shy of the sum you ought to pay, you ought to additionally pay for the lack. Every obliged report supporting this case ought to be in place for no less than 5 years.

The sooner you present your income tax return, the sooner you have the capacity to get any refund. Due date for cabin your own tax return Sydney is 31st October unless you are an authorized tax operators. Enlisted tax operators have the unique right to hold up their own individual tax return at a later time.

Where Do You Start

It is essential that you have every one of the points of interest open to your tax return. Case in point, on the off chance that you need to claim derivations identified with work that are past $300, the announcement in white and dark ought to be existing. In the event that it is not as much as that sum, there’s no requirement for any receipt yet there should be a proof that these reasoning’s identify with your income by demonstrating:

– Credit card proclamations
– Invoices or receipts on paper or on electronic record
– Pay As You Go (PAYG) installment synopsis
– Warranty archives
– Pay receipt numbers

Other data you must have are the accompanying:

Employment income including your Pay as you go (PAYG) reimbursement reports and synopses for the monetary year, companion advantages or end installments. Investments – rental income from property, deal or buy receipts from any capital increase, yearly tax outline expected for stores or trusts, or maybe dividends compensated for offer possessions.from this source:http://www.detroitnews.com/story/news/local/michigan/2015/10/04/jobless-seized-tax-refund-suit/73360260/

Taxreturnco.com.au benefits any bank explanation for the income got like those coming from abroad. Interest from the ledger consistently
Work related costs – need to give receipts to the travel costs, automobile data or even log book, self-training, defensive garments or even company uniform, and so on. Tax balances – this incorporates any data on claimable therapeutic costs, wellbeing protection stores, income data of your life partner, childcare refunds, installment outline of annuity or benefits

Other conclusions -, for example, earlier year’s charges for your tax operators, gifts or blessings given, information of misfortunes for Tax Return Australia, you must attempt to submit them in a prior year, dividends or maybe bank articulations.

When you need assistance on the best way to keep these records, there’s a product that is accessible for absolutely free through the Australian Tax Office site called e-record. It can be utilized for either individual tax payer or maybe company tax returns. There is additionally e-tax wherein you have the choice to document your online tax return. The attributes would be the accompanying:my review here!

Individual Tax Return

– Refunds are ensured in 2 weeks
– Questions are easy to reply, meeting style
– You have fabricated in checks
– Free gauge of the refund
– It is secure and safe

These sorts of Tax Return Assistance thoughts ought to guide you as you manage your own tax whenever.

DEBT-RELIEF

THE BEST OPTIONS TO FINDING A BOOK ON DEBT RELIEF

Debt can affect a person’s life in a real negative manner. The topic of debt relief is very important for all people to consider no matter how good their financial situation is at the moment.

All it takes is for one bad thing to happen and a person could fall into a great financial hardship. There are numerous resources available that will provide a viable solution to those that are facing an overwhelming debt. Sometimes the best resource is to just find a book about debt relief and do a little research.

How To Select The Right Book

There are literally hundreds of different options when it comes to finding a book on debt relief, but a few in particular which are really worth considering. The first is Bill Busters: How to Pay All Your Bills and Still Achieve Your Dreams written by James D. Barretto. It is a book that helps people to learn a proven and easy to learn system to get the most of their current income.my review here!

It discusses strategies not only about how to get out of present debt, but also on how to stay out of debt and other financial troubles in the future. It will teach readers how to find the money that they need to pay off last month’s credit card bills, sleep easy knowing that they will be able to pay their bills every month without having to scrounge for money.

It will also teach how to get out of the cycle of living paycheck to paycheck and somehow continuing to fall deeper into debt along the way.

Another great book on debt relief is titled the Debt Relief Book. The straightforward and easy to understand steps that are laid out in this book on debt relief will help people to save both time and money, and not only get out of debt but stay out of debt in the future.

This book on debt relief will help people dealing with debt problems to get a new measure of control over their life and stop living in fear. The basic purpose of this book is to get a person to stop and assess their current financial situation, and figure out what the best steps are going to be. It is important to consider every area of life where expenses could be reduced, as this is really the only way to get out of and stay out of debt.use this link:http://www.dispatch.com/content/stories/business/2015/10/18/1-the-anatomy-of-a-debt-relief-scam.html

DEBT-RELIEF

Being in debt is never a good thing. It is depressing and can make a person feel less about themselves. There are so many out there that fall into the financial trap of using other peoples money without realizing they don’t have the means to pay it back.

Once they figure this out, it is too late and they become desperate for a solution. The debt begins controlling their lives and keeps them from doing the things they want and it holds them back in all aspects of their lives.

Consumer Credit Law

Consumer Credit Law: Creditors, Debtors, Attorneys and Judges

In today’s economy, when pillars of our communities may be facing extreme financial crisis, debt collection lawsuits or bankruptcy, it is no longer fitting to call someone a “deadbeat” for not paying their credit card bills.

This is especially true in light of much of the conduct of banks toward their customers. Banks lie about mortgage modifications, fail to properly perform foreclosures, and increase interest rates on credit cards without reason or prior notification just to name a few of abuses in the industry. Is it too big a leap to think that creditors would be dishonest or unfair in the way that they conduct litigation?

As I travel the courtrooms of the state of Georgia, arguing on behalf of the citizens of this state, one thing becomes increasingly clear. When it comes to consumer credit cases, many judges just don’t get it.

Judges are elected by the citizens of the district they serve. The people who are sued and come before them as defendants in debt collection lawsuits are the same people that pull the levers in the voting booths on Election Day. Citibank does not vote for the judge. Citibank is in South Dakota. Chase Bank is in Manhattan, New York. Discover is in Illinois.

American Express, Capital One, Wells Fargo, and Bank of America are all non-residents of the State of Georgia. Nevertheless, many of the judges in this state go out of their way to cater to the interests of these banks at the expense of the citizens who elect them to serve.redirected here!

To be clear, I do not think that judges owe any special treatment to defendants in civil suits because they want to get their vote, but they do owe the citizens of their circuit the duty to be fair and impartial in their rulings, and to treat them and their lawyers with respect.

The bank is not always right. Creditors should also have to follow the same procedures and meet the same evidentiary burden that all other litigants must meet under Georgia law. All too often, I have seen judges who become angry and have even threatened me with sanctions for having chosen to defend my clients against a debt collection lawsuit, or for me insisting that the creditors prove their case according to law.

Some judges are of the opinion that since the lawsuit is for a consumer debt, unless the defendant denies making the purchases, or claims to be a victim of identity theft, that they have no defense. They do not generally come to this opinion because they are well versed in this area of the law. I usually find the opposite. They get indignant because these types of cases are rarely defended against; leaving the appearance that there is no defense. The thinking is that “the way we have always done things has not been challenged, so it must be right.”

When a challenge is made to the way a judge is used to handling debt collection lawsuits sometimes it is met with anger because their understanding of these cases leads them to believe that I am wasting valuable court time on a frivolous and indefensible matter instead of advancing the cause of consumers and helping to shape the law on this subject.see page at:http://www.mondaq.com/australia/x/429196/Consumer+Credit/Consultation+paper+on+the+regulation+of+small+amount+credit+contracts+and+consumer+leases

What these judges seem to have forgotten is that the law is alive. You cannot expect it to stay the same and cannot base your notions of morality or correctness on its current state. Slavery and “separate but equal” were the laws of this land at one time. Women were once denied the right to vote.

Consumer Credit Law

Prohibition was enacted and repealed.

Currently, same sex marriage rights are being established in courts throughout this country and marijuana laws are being relaxed and repealed in many states. The way we view consumer credit and the role that consumer financing should play in the economy of this country is also changing, and the laws and attitudes of those that interpret the laws need to change as well.

Credit Revolution

A Credit Revolution: Have you made enough or paid enough?

Can you feel it? If you listen carefully, you can hear it. It is in the news, in the mood of the country, and in the pocketbooks of the people. There is a revolution coming. Nothing less than the economy of the country and the ability of the American people to access their ”American Dream” are at stake.

People are justifiably angry that our elected officials saw fit to declare that certain banks and businesses in this country were “too big to fail,” in order to justify the raiding of the national treasury to fund the operations of these banks. Just as infuriating is the fact that the money taken from taxpayers to pay these banks was re-paid with increased interest rates, fees and other charges paid by debtors.

The American people have paid twice for these banks to maintain the ability to prey on the public and now face record deficits for which they will have to sacrifice their hard earned money yet again. What people have started to realize in record numbers is that to live in debt is to be living a lie.see link here!

Five years ago, I would hear people brag about their credit scores as if they were talking about how much they could bench press. A high credit score was a form of prestige and a source of pride.

Someone discussing their strong character would mention their credit score in the same breath with their religious devotion and their education. But, what does a high credit score really mean? Does it mean that you are a better person, or even a better borrower, than someone with a lower credit score? Does it really mean anything more than you incur and pay a lot of debt?

What many are discovering is that while they played by the bank’s rules for years, paying down credit cards, keeping many open accounts, watching their debt to income ratio, etc., the banks will simply change the rules when they need or want more money. Credit card companies needing more cash simply increase interest rates and minimum payments regardless of your precious credit score. If they no longer want you to spend, they can drop your credit limit, thereby affecting your available credit and dropping your score.

Credit scores are nothing more than the gold stars you got as a kid for not wetting the bed. “Here is your high credit score, now be a good little borrower and go get another loan.” I speak every day with people who had exemplary credit before they lost jobs or income.

But, now struggling to make a mortgage payment on a home with negative equity, and dealing with credit card companies that would not reduce interest rates while they were receiving timely payments, but are now willing to accept .30 on the dollar now that the payments stopped, credit scores suddenly seem less prestigious. When you get a mailbox full of credit card offers weeks after filing bankruptcy, it starts to become clear.her latest blog:http://news.sky.com/story/1572539/tory-mps-lay-into-osbornes-tax-credit-cuts

Credit Revolution

The banks need you way more than you need them and their credit scoring system. Barack Obama made the remark not too long ago that at some point, you’ve made enough money. What is hilarious about that comment is that he wasn’t talking about himself, or the banks, or anyone receiving TARP funds from the government, he was talking about us. I am not sure we will ever hear how much Obama considers “enough.”

I don’t know if there is a point where you have have made enough money, but I do know this…there is a point, where you have paid enough.