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The Fight for Your Economic Stimulus Rebate Check

Economic stimulus payments started rolling out and now the battle is ON!

The fight among retailers and advertisers for your economic stimulus rebate check is in full force!

These folks want your money, and they want it bad!

Businesses large and small are offering all sorts of deals to make it as easy as possible for you to give them your money. Some of the "deals" being offered by businesses are:

1. cashing your rebate check for free, no strings attached (but hoping you spend some or all of it with them)
2. cashing your rebate check for free if you spend it with their business
3. cashing your rebate check for free and offering you discounted prices on merchandise
4. cashing your rebate check for free and offering you a X% discount (10% is really popular!)
5. converting your rebate check into their store's gift card
6. giving you a X% bonus when you convert your rebate check into their store's gift card (again, 10% is really popular!)
7. giving you additional money when you convert your rebate check into their store's gift card
8. accepting your rebate check as a form of payment
9. matching the amount of your rebate check (sometimes just up to a certain amount) if you spend it on certain items
10. offering special cash bonuses or discounts based on your spending in $300 increments
11. special rebate check themed sales
12. special rebate check priced menus at restaurants
13. special rebate check discounted vacation packages

The National Retail Federation estimates that about $43 billion worth of rebate checks (out of $152 billion) will be spent by consumers with our nation's businesses.

So before you cave to all of the marketing hoopla, be sure to think long and hard about how your economic stimulus rebate check could best be spent.

Just because these businesses are doing their best to appeal to your heart's desires to get you to spend your rebate check with them, doesn't mean you have to.

Be sensible and be practical.

Don't use the money frivolously if you have any pressing or outstanding financial obligations that you could really use that money for instead.

And if plan to partake in a special offer, discount, incentive, or promotion, be sure to get all of the details before you spend your rebate check.

Sometimes there's a catch. And you don't want to be caught off guard and get sucker-punched by the small print or hidden details!

FREE Online Tax Filing Services

If you have NO legal requirement to file a 2007 federal income tax return this year, and you are only filing in order to receive your economic stimulus payment, you can file your return online for FREE using these companies.

If you DO have a legal requirement to file a 2007 federal income tax return this year, you can file your return online for FREE using these companies, if you meet certain requirements.

I hope you're not waiting to file until the very last minute like me!

File Your Taxes to Receive Economic Stimulus Payment - One Week Left!

You have exactly ONE WEEK FROM TODAY to file your federal income tax return by the deadline of April 15, 2008.

I've recently received a few questions regarding the economic stimulus payment that's going out to American consumers starting this May, and whether or not you have to actually file a tax return in order to receive it.

Well, the answer is...

You have to file a federal tax return, even if you haven't before, or would otherwise not be required to file this year, in order to receive your economic stimulus payment.

Even retirees, disabled veterans, and low-income workers who are usually exempt from filing a federal tax return will have to file this year in order to receive a stimulus payment.

You must have:

• a valid social security number
• $3,000 in income
• and file a 2007 federal income tax return

To get more information and find out all you need to know about the economic stimulus payment program, click here.

You might have already received a notice in the mail about your economic stimulus payment from the IRS that looks like this.

Just be sure to file your 2007 federal income tax return ASAP. The clock is ticking and you have one week left!

To calculate what your economic stimulus payment might be, use this calculator.

And if you want to know when to expect your economic stimulus payment, click here for the IRS payment schedule (which is based on the last 2 digits of your social security number).

Michigan Unemployment Benefits ARE Taxable

Employment has been a little shaky here in Michigan lately. Especially where the auto industry is concerned. And not to mention the several major formally-Michigan-based corporations that have packed up shop and relocated to other states.

According to the Michigan Department of Labor & Economic Growth, the current Michigan unemployment rate is 7.6%, as compared to the national unemployment rate of 5.0% (both stats are as of December, 2007).

Needless to say, the unemployment rate has gone up because many Michigan workers have unfortunately been displaced from their jobs and are now out of work.

If you are one of the approximately 548,000 Michigan consumers that received unemployment benefits in 2007, please be aware that your unemployment benefits are taxable!

DO NOT forget about this income when filing your income taxes this year!

All unemployment benefits are reported to the IRS and the Michigan Department of Treasury.

The last thing you need is to have a "problem" pop up later-on down the line with the IRS, which could potentially hurt your credit if it's not addressed.

You should receive a 1099-G form from The State of Michigan's Unemployment Insurance Agency very soon.

Be sure to consult with a professional tax preparer or CPA regarding the tax treatment of your unemployment compensation in 2007.

How to Use Your Spare Change to Make a Charitable Donation

In my previous post, I told you about Coinstar's "Coin to Card" program, where you can turn your spare change in to a gift certificate or eCertificate.

Well, Coinstar also has a "Coins that Count" program, where you can cash in your spare change and make a donation to one of their participating non-profit charitable organizations, and get a tax-deductible receipt right there on the spot.

The current participating non-profit organizations are:

• America's Second Harvest
• American Red Cross
• Leukemia & Lymphoma Society
• March of Dimes
• The U.S. Fund for UNICEF
• World Wildlife Fund

Click here to read more about this cool little way to make a charitable donation to some worthwhile causes.

18,000+ Wayne County Property Tax Foreclosures

Did you see today's Detroit Free Press?

Oh my goodness!

There's 8 sections full of Wayne County 2008 property tax foreclosures! There's 121 pages in all!

It reportedly cost Wayne County $400,000 (wow!) to run the advertisement for the 3 weeks required by law as part of the Michigan foreclosure process to ensure homeowners are notified that their property is in jeopardy of being foreclosed after 2 years of non-payment of their property taxes.

Good news is that there's still time to pay any outstanding delinquent Wayne County property taxes and avoid the foreclosure process.

Both Oakland County and Macomb County will also be publishing their high number of property tax foreclosure notices in the near future.

You can check it out for yourself in today's Detroit Free Press...

Warren Buffet Doesn't Think He Pays Enough Taxes

Did you see this?

Warren Buffet, one of the wealthiest people in the world, doesn't think he pays enough in taxes.

He thinks the US tax system is unfair and dramatically favors the rich and hedge fun managers, and overtaxes others.

Ya think?

Lots of buzz going around about this billionaire's recent comments on NBC with Tom Brokaw.

Buffet compared his tax rate to those that work for him and reveals that the percentage of taxes he pays on his salary and other income is less than everyone in his office, including that of his receptionist.

Check out the short video clip below...