Back in 2008, Congress passed a law that included the requirement for brokerages to report the cost basis for the shares that you sell. This means that not only do you have to pick a cost basis before the transaction occurs, but your broker needs to know your choice as well. Stocks had to meet this requirement starting last year, and 2012 is the year that cost basis reporting kicks in for mutual funds.
You have to pick a method of cost basis so that you (and the IRS) know how to figure out your gains, losses and whether they are long or short term. Here are some of the choices you have when picking a cost basis:
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There are alternatives to bankruptcy.
Remember when you went shopping for a new case for your iPhone 3 and came home with an iPhone 4S? Well, maybe you didn’t go shopping for a case, but most of us, at some point, have been shopping for one thing and come home with A LOT more than we planned to spend.
Overspending is one of the leading causes of debt, in America and around the world. And if you’re like many Americans, this type of overspending has landed you in such a deep hole of debt that you’re now considering filing for bankruptcy to get you back out.
Debt Swallowed You (And It Didn’t Even Bother to Chew)
Maybe it’s these impulse buys that have led to your problem with debt. Or maybe it’s simply life’s circumstances that have set you firmly in this sick-to-your stomach situation.
Maybe you or your significant other have lost a job, or perhaps the hospital is demanding payment on the ER visit that led to your being in a cast for 10 weeks (without pay!).
Saying there are many reasons people wind up in debt is like saying the ocean is moist. But regardless of the means that led to your unfortunate end, you deserve to stop the suffering.
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The 90s era television show Northern Exposure was based on a pretty ridiculous premise: Born and bred New Yorker Joel Fleischman moves to a tiny town in Alaska after finishing his medical degree because the town had paid for his schooling in exchange for his relocation there. That was the only way the small Alaskan community could get a doctor to settle there.
As it turns out, the fish-out-of-water comedy was ahead of its time. Several small towns in the United States are now offering recent grads a fantastic deal: as long as the new graduates maintain residency in the town or locality, a portion of their student loans will be paid by the community.
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If you’ve ever hosted a yard sale, you know how much work goes into preparing, labeling, displaying, and selling your unwanted items. At the end of the day, you’re exhausted and the few hundred dollars you’ll earn (if you’re lucky) hardly seems worth the amount effort required.
An easier alternative is to sell your quality items on eBay instead of hosting a yard sale. I have a friend who even uses this method to supplement her income quite nicely by visiting estate sales and selling her purchases on auction sites. eBay is a great way to make a little side income. Here are a few tips to help you sell more effectively.
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Identity fraud is one of those scary situations that we hear about a lot. And for good reason. Even though, according to Javelin Strategy & Research, identity fraud fell in 2010, it rose again in 2011. Scary statistics about how fast identity theft is growing as a crime may lead you to decide that credit monitoring is right for you.
But do you really need to pay for credit monitoring services?
If you are willing to take a little time and effort, the answer is probably no.
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You’ve spent all day shopping and picking out the perfect decor, to go with your delicious red steaks for your outdoor party. The chairs and furniture have been washed and arranged. You even bought new pillows so you could capture that outdoor room feel you saw on Pinterest. The smell of burning coals fills the air with the unforgettable scent of summer. Your party is going to be GREAT!
Except, you can’t stop thinking about all the money you’ve blown getting ready for your big event – that extra $275 that was supposed to go toward this month’s credit card payment.
Unfortunately, You Just Couldn’t Help Yourself
Getting caught in the fanfare of special occasions can be a tremendous amount of fun. And once you throw family and friends into the mix, it gets all too easy to lose control (and sight) of the big picture. Yes, you want to entertain, but you also want to stay within your budget.
There are so many preparations to make: food, decor, and entertainment. It’s easy to spend far beyond your honest intentions.
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