Atlanta Bankruptcy Attorney Blog

Just like early birds get the fattest worms, early tax filers might get the fattest tax refunds.

Even though Uncle Sam is extending this year's tax deadline from April 15 to April 18 due to a Washington holiday, taxpayers may want to file early this year, explain Atlanta bankruptcy attorneys - particularly those who think they're going to be getting money back. This Tuesday, the IRS began accepting returns, even for taxpayers planning on itemizing deductions (though most of us can file as soon as we receive our W2 and 1099s, itemizers had to wait a bit longer this year while the government put some tax law changes into effect). Maybe the idea of doing your taxes now doesn't exactly have you jumping up and down - but here's why it should.

Continue reading "Filing Early Tax Return Can Mean More Money For Atlanta Taxpayers" »

Most of the time, it's a good idea to listen to age-old advice. When it comes to your finances, though, you might want to think twice, caution Atlanta bankruptcy attorneys.

It's not that there's anything wrong with long-held personal finance beliefs, like the idea that you should pay down debt before saving up. It's just that even the most classic wisdom can backfire in certain circumstances, according to a recent article by TheStreet.

The problem is that everyone's financial situation is different.

Continue reading "Money Myths That Can Make Your Debt Situation Worse" »

I always thought senior citizens spent their retirement golfing and gardening. Turns out they spend it much like the rest of us - stressing over how to pay growing bills.

Since the recession began, the number of senior citizens filing for bankruptcy has skyrocketed. Expensive prescriptions, decreasing home values and stock market crashes have left today's grandparents with tens of thousands of dollars in debt - and with no income to pay it off. That means that eventually their burdens will get passed on to us, say Atlanta bankruptcy attorneys.

Continue reading "Why More Senior Citizens Are Filing For Bankruptcy In Retirement" »

Remember when having a million dollars meant you were filthy stinkin' rich? Now it just means you have enough to live modestly - though probably still comfortably - when you retire.

Being a millionaire has lost some of its allure. That's the bad news. The good news? It's still pretty sweet to have a million bucks to draw on in your retirement. And getting there is easier than ever before, say Atlanta bankruptcy attorneys. It just requires that we stop adding to our debt problem and instead start adding to our nest egg.

Continue reading "How Making a Million Dollars By Retirement Is Possible For Atlanta Savers" »

By now, we all know that the Fed is buying $600 billion in Treasury bonds in hopes of boosting the economy. What we don't know is if it will work, say Atlanta bankruptcy attorneys.

In short, the idea behind the stimulus is to pump money into banks, reducing rates and thereby increasing borrowing. But while low interest rates are good news for consumers who want to borrow to buy a house, start a business or otherwise make an investment, they're not so good for those of us who plan to save rather than spend - like the many Americans struggling to make the mortgage payment on the house we already own or to restore the retirement funds we've already lost.

Continue reading "Fed's $600 Billion Plan to Lower Rates Could Help and Hurt Atlanta Consumers" »

Nobody likes to make mistakes. But making a blunder now and then - or taking note of someone else's - can actually help improve your finances.

At Money Talk News, author Stacy Johnson recently talked about the lessons she learned from her many money mistakes - including one particularly relevant to the recession. Like many folks, she once panicked and sold her investments during an economic downturn - and lost money in the process. When this latest recession rolled around, however, Johnson did the opposite of what most of us are doing - and it paid off.

Continue reading "Atlanta Residents Can Lower Debt By Learning From Money Mistakes" »

It might be the new Halloween mantra: IRAs, 401ks and HSAs, oh my!

As if dealing with debt and house payments weren't enough, Americans must also consider ways to invest for the future - including Health Savings Accounts, a new type of investment that can cover medical expenses as well as retirement. And though HSAs can be a little confusing, they have the ability to make your life - and finances - easier, say Atlanta bankruptcy attorneys.

Continue reading "Why Atlanta Insurance Customers Shouldn't Be Intimidated by Health Savings Accounts" »

It's a sad day when even interest rates on online savings accounts - once the cream of the crop - are hovering below 2%. But just because today's rates aren't good for growing your nest egg doesn't mean they can't help you save money.

It's only a matter of time before rates go up again. In the meantime, there's no better time to pay down debt, say Atlanta bankruptcy attorneys.

Continue reading "Are you Better Off Paying Down Debt or Investing Your Savings?" »

Ah, the Bush tax cuts - can't live with them, can't live without them.

On the one hand, Uncle Sam needs money from somewhere - and allowing the tax cuts to expire next year is one way to ease debt (some of which was arguably caused by the Bush tax cuts). On the other hand, if Democrats and Republicans can't decide on how to handle the expiring taxes, we'll be paying more - wealthy or not - say Atlanta bankruptcy attorneys. And paying a higher tax bill won't exactly be a piece of cake for the many Americans struggling to make ends meet and pay off debt.

Continue reading "How Atlanta Taxpayers Could Be Affected By Higher Income Taxes" »

There's nothing more painful than spending your paycheck on bills. But what if paying one of those bills could pay off in the long run?

We all know we need to save money for our future. But it's all too easy to get caught up in the monthly bills, the mortgage, the groceries and gas - and everyday life in general - allowing our plans for investing money to fall by the wayside. But there's a way to make that saving automatic - literally.

We need to save in order to buy that house, take that dream vacation and - maybe most importantly - to retire, right? So stop looking at saving as optional and start looking at it as a necessity, say Atlanta bankruptcy attorneys. Since that's easier said than done, stop giving yourself a choice - instead, set up an automatic savings payment.

Continue reading "Atlanta Residents Can Stop Procrastinating About Saving By Making Investing Automatic" »