As people file their taxes, they look for tax minimization strategies. While there are various actions you can take throughout the year to lower your overall tax burden, once December 31st rolls around, the only option most people have for lowering their taxes is to contribute to an IRA account. Of course, there are limits on IRA contributions, so that only offers so much relief. Otherwise, the best you can do is find every possible tax deduction you can.
When it comes to your credit report, there isn’t much you can do to manage it other than to pay all of your bills on time and keep your credit card balances from getting too close to their limits. (Credit line utilization is one of the big components of a credit score.) However, you do have to constantly watch your credit reports to ensure that negative information is not lowering your credit score without your knowledge. One of the easiest ways to monitor your credit report for free is with Credit Karma. I wrote a nice review of Credit Karma on Finance Gourmet after first determining that Credit Karma is not a scam. You can see my latest update where I delve into Credit Karma’s free credit monitoring service.
Lastly, this week, the Dow Jones Industrial Average mananged to top 13,000 for the first time since 2008 when the housing bubble triggered the financial crisis and the stock market managed to drop all the way down to about 6,500 before bottoming out and recovering as economic indicators started to look better. But, what does Dow 13,000 mean? Is that nice, round number really worth anything, or is it just a lot of media hype?
Either way, it’s been a good time over on FinanceGourmet.com. Check it out.