Don't Go Broke Doing Your Taxes

I know what you are thinking, I'm unemployed...I don't have to do taxes this year. WRONG!!! Uncle Sam still wants his money, but there are a few things that can help you from ending up owing the government.

1. You can exclude up to $2,400 of unemployment compensation from your 2009 gross income. This break has expired for 2010.

2. You can avoid a "penalty tax" on IRA and 401(k) withdrawals if the withdrawal covers (but doesn't exceed) deductible medical expenses whether or not you actually take an itemized deduction for the expenses. (If you're receiving Trade Readjustment Allowances under the Trade Adjustment Assistance program and similar programs, you may be eligible for an even better deal, the Health Care Tax Credit, which can pay up to 80 percent of your premiums.)
You can avoid the penalty tax on 401(k) and IRA withdrawals by establishing a payment schedule of regular equal withdrawals over your lifetime or the joint lives of you and your beneficiary. There's also no penalty if you take a distribution when you separate from service at age 55 or older.

3. If you itemize, you can deduct job-hunting expenses as a "miscellaneous itemized deduction," to the extent that all your miscellaneous itemized deductions exceed 2 percent of your adjusted gross income. Job-hunting expenses can include: resume printing costs; postage; long-distance calls and faxes; travel expenses, including air, taxi and rail as well as mileage and tolls; and lodging expenses for out-of-town interviews.

4. If you find a new job and move, you may be able to deduct moving expenses. To qualify, the new job must be at least 50 miles further from your old home than your old job was from your old home. This is an "above the line" deduction, available whether you itemize or not.

5. IF you have access to a computer (clearly you do if you are reading this blog), do your taxes yourself at home. I did mine online using turbotax and it was simple and easy.

http://www.CCHGroup.com

That's What I've been Saying

I've been saying this for weeks, maybe since it's not an official article people will get my drift.

http://www.thegrio.com/2009/11/good-jobs.php

With the national unemployment rate in the double digits, those who are jobless are happy to get anything that cuts a paycheck. However, we should be demanding more than a paycheck from our employers. There is a difference between having a job and a "good job." According to economist Algernon Austin, a good job provides an above-poverty wage, quality health insurance and a retirement plan. Austin recently put out the new Economic Policy Institute report "Getting Good Jobs to America's People of Color," stating that wages should be consistent with proposed new U.S. poverty standards and international comparative standards, which are at 60 percent of the median household income - which computes to an hourly wage of about $14.50, or $30,000 a year.The report shows that only 27.6 percent of Americans had good jobs in 2008. But in 1979, that number was higher -- about 35 percent of the population had "good jobs". When this is broken down by race, the loss in good jobs over the last 30 years have been mostly felt by Latino men, followed by white men. Only white women have seen a gain in good jobs.
And yet when it comes to present-day totals, it is blacks and Latinos who lack good jobs. According to the 2008 survey, 31.5 percent of whites have good jobs, compared with 21.8 percent of blacks and 14.4 percent of Latinos. Even with a college education background, whites still have a slight advantage.I'm not shocked by this all. It never ceases to amaze me that with all the strides that people of color have made since the civil rights movement, including getting a black man in the White House, we are still having this conversation about decent wages with health insurance and retirement security. One can only wonder if America would have been different had Dr. King lived to carry out his Poor People's Campaign, when he expanded his advocacy for racial equality to also include economic justice. Unfortunately, the current economic downturn has only made the quest for employment equality worse. I have many friends and associates struggling to keep their low-wage jobs with no benefits, staying in their near-poverty cycle. As the folks on Capitol Hill discuss bringing jobs back to save the economy, we need to force a discussion on what exactly these jobs should look like.Providing more good jobs is not just the right thing to do from a benevolent perspective, but good jobs are good for a healthy economy. The report not only indicates that employees with proper wages are more likely to get out of poverty, but also that employees with proper health care are better workers, and a good retirement plan allows older employees to retire with dignity. In particular, those with quality health insurance are less likely to have an illness that impairs their ability to work. In addition, a proper retirement plan along with Social Security enables individuals to have a comfortable standard of living without having to continue working well beyond retirement age. If we can't strive to provide all Americans with good jobs, then what does it say about us as a society?

Holiday Tip for the Broke and Fab!

I've officially started my Christmas shopping. If you're on a tight budget like me below are some tips I find online to keep you for breaking the bank!

ATLANTA, Nov. 19 /PRNewswire/ -- The biggest shopping day of the year is just around the corner and consumers are looking to get more for their money this holiday season. Record unemployment and foreclosure rates and lower than average savings rates will impact spending, and more consumers are planning to use cash this year to avoid adding to credit card debt. (Source: National Retail Federation)
"It is especially critical during these challenging economic times that consumers make wise and well thought out purchasing decisions this holiday season," said Mechel Glass, director of education for Consumer Credit Counseling Service (CCCS) of Greater Atlanta.
CCCS of Greater Atlanta encourages consumers to take advantage of sales to make planned purchases, but leave other items on the shelf. "Don't let the thought of getting a 'deal' cloud your judgment," added Glass. "Impulse purchases can create holiday debt that you will pay for well into the New Year and beyond."
CCCS of Greater Atlanta offers tips to help shoppers:
Make a list and stick to it
Having a list of the people you need to buy for and a budget for each person is a great way to make sure you don't overspend. Jot down ideas for each person and use that to help guide you while you shop.
Plan your shopping before you leave the house
Use the newspaper circulars and the internet to plan your shopping trip. If you know exactly where you are going and what you plan to buy while you are there, you are less likely to deviate from your plan. Get an advanced look at Black Friday ads at web sites such as http://www.theblackfriday.com/ and http://www.bfads.net/ to help plan your day. Work with friends to cover the early morning specials at many stores. And don't be tempted to overspend simply because things are on sale. Stick to your list.
Shop before the big sales
Avoid the Black Friday mall crowds by shopping a day or two earlier. Many stores will refund the price difference if the item goes on sale within days of purchase. This policy may not apply to all Black Friday specials.
Avoid window shopping
Try not to head to a store without even an idea of what you are planning to buy. You will almost always end up spending more than you planned. If you go to a store for a particular item, get it and leave instead of strolling through all of the aisles.
Leave credit cards at home
Studies have shown that people who use credit cards to buy gifts spend an average of 30 percent more than people who use cash. When you add in all the finance charges over months, or even years, that "perfect gift" could cost you twice what you paid for it, or more. You can't make an impulse buy if you don't have the money with you to do it. Leaving your credit cards at home will require you to take some time to think about it before making a purchase.
Shopping Online? Don't forget about "Cyber Monday"
The Monday after Thanksgiving is expected to be a busy shopping day for online retailers. Online stores may be offering special deals with the hopes of increasing their sales. Visit http://www.cybermonday.com/ for regular updates on online deals.
Make sure you are really getting a deal
While there are many opportunities to save money this holiday season, something is not a deal just because the retailers says it is. Do your homework. Research the items you are considering, compare prices at several retailers, and be sure it is a deal before making the purchase.
Compare the price your retailer is offering by using sites such as http://www.pricegrabber.com/, http://www.bizrate.com/, and http://www.nextag.com/. For information on available rebates on consumer electronics, computer software and hardware, and other items, visit http://www.rebateplace.com/. And before you buy anything, look for coupons to save on in-store and online purchases. Sites such as http://www.couponcabin.com/ or http://www.dealcatcher.com/ can help you find deals for dollars off, a percentage off, or free shipping that can add up to hundreds of dollars in savings

Ashley Gives Back

So I have been doing a really crappy job keeping up with my blog and I apologize. Today I am recommitting myself to my blog, because it is fun, and if I learned anything from Sarah Palin during her Oprah interview is that having a journal (hard copy or online) is a great way to look back on your life.
I haven’t been up to much, I back in Ohio. DC wasn’t as successful as I hoped but I’m still optimistic about my job search but I am going to change the way I do things…Don’t ask me how because I’m not really sure yet.
What I am sure of is I am going to be devoting some of my time to helping others. Luckily my mom works at a domestic violence shelter so I don’t have to look too far. My first project is to create a video for the shelter, but I am looking for other activities. I’m going to call it “Ashley Gives Back.” That means if you need a volunteer I’m your girl. I’m looking for one activity a week, if you know anything or an organization in and around Toledo that needs a volunteer let me know (a.traynum@gmail.com)!
PS…People and places have to be open to me video taping, my Flip will be volunteering with me!

Should you sacrifice love for work?”

I recently read this article on CNN.com ( http://www.cnn.com/2009/LIVING/worklife/10/22/cb.sacrificing.love.for.work/index.html?imw=Y&iref=mpstoryemail )and the question is simple, “Should you sacrifice love for work?” Simple question…simple answer-NO! I can answer this question without hesitation because I know something about work life balance or the lack there of, and of all things love is the last thing you want to sacrifice for work. The reason I say NO is because when things go bad at work, in life or with friends it’s that special guy or girl who will help you through and hopefully give you some good advice.

Now I worked in Lima for two years and during that time I went on count them TWO dates. I will take some of the blame because I was so focused on doing a good job, and being focused on the next step I didn’t take the time to date or even look. What I learned is being focused or good at your job doesn’t mean things will work out, and when thing go bad it is helpful to have someone around to talk to about the roses and thorns of the day.

Maybe it’s because I am getting older and my friends are getting married but I think we all realize that with proper planning and compromise “having it all” can be obtainable. Yes you can have a job you like and a great guy, take my friend Megan for example. Megan met a great guy at work, dated, and they are now engaged. Had she said dating was off the table until she was in a top ten television, would she be dating loser after loser when what she really needed was already there in front of her? Luckily she won’t have to worry about that because the wedding is in August!


End of story if you like someone and your work schedule suck, pencil that person in he/she may be the best part of your day.

Ash

Will Work for Presents

If you’re anything like me you are probably a “Holiday Whore” but short of going all Kwanza on people and making gifts this Christmas I may be looking for work at the local mall. I know it's early to be thinking about Christmas but I figure if QVC is selling prelit trees it's time to get myself into Christmas gear. The good news is that unlike the television news industry, retail may be hiring and that means you can expect a nice Christmas sweater from yours truly.

Don’t believe me-take a look at this press release below!
Ash

CHICAGO, Oct. 21 /PRNewswire/ -- The outlook for seasonal hiring in the fourth quarter of 2009 is projected to be similar to 2008, according to a new CareerBuilder survey. Eighteen percent of hiring managers plan to hire seasonal workers to meet business needs associated with the holidays and end-of-the-year wrap-ups, on par with 17 percent in 2008. At the same time, competition for holiday work is heating up. In addition to unemployed workers pursuing seasonal employment, 12 percent of employed workers plan to take on a seasonal job to help make ends meet. The survey, "Seasonal Hiring 2009," was conducted from August 20 to September 9, 2009 and included over 2,900 hiring managers across all industries nationwide.
Popular Seasonal Positions
Seasonal positions may prove to be the break job seekers are looking for as three-in-ten (31 percent) hiring managers indicate they are likely to hire a seasonal worker for a full time position. The most popular positions identified for seasonal recruitment include customer service, retail sales, administrative/clerical, hospitality, shipping/delivery, inventory, technology and accounting/finance. Of those hiring seasonal employees in Q4 2009, 41 percent will hire 1 to 10 employees, 17 percent will hire 11 to 20, 17 percent will hire 21 to 50 and 25 percent will hire more than 50.
Seasonal Pay
While some hiring managers (12 percent) say they plan to increase pay for seasonal workers, 15 percent are planning a decrease. Forty-four percent of hiring managers expect to pay $10 or more per hour and 12 percent expect to pay $16 or more per hour. Thirty-four percent of hiring managers plan to pay between $8 and $10 per hour and 20 percent expect to pay between $6 and $8.
"Competition for seasonal positions will be intense as the job market is flooded with qualified candidates vying for a smaller number of open positions," said Brent Rasmussen, President of CareerBuilder North America. "Employers tell us they are accepting the majority of their seasonal applications during October and November, meaning job seekers need to identify and apply for those opportunities now."
Rasmussen recommends the following tips for those seeking seasonal employment:
Start applying early - Seventy-seven percent of hiring managers do not plan to accept applications for seasonal workers beyond November. Especially in a competitive job market, getting your resume in early will help your chances of securing a position.
Do your homework - Nearly a quarter (24 percent) of hiring managers say that having no knowledge of the company or products deterred them from hiring a seasonal candidate in the past. Check out the company's Web site before the interview and familiarize yourself with products, services, press announcements, etc so the hiring manager knows you're serious about the opportunity.
Show enthusiasm -- Nearly half (48 percent) of employers say they were turned off by a candidate who lacked enthusiasm during their interview. Convey that you're excited about the opportunity to contribute to the success of the organization and stay away from saying the primary reason you want the position is for the employee discount.
Dress the part -- If you are interviewing for a job in a retail clothing store, it's a good idea to show up dressed in an outfit from that store. One-in-ten (11 percent) hiring managers said candidates who interviewed for a job in a competitor's ensemble were ultimately not considered for the open position.
Be flexible regarding your schedule - Forty-seven percent of hiring managers said they were turned off by a candidate who refused to work certain hours. Seasonal hours tend to fluctuate; you need to be open and flexible to alternative schedules.

It's a Womans World

WASHINGTON, Oct. 20 /PRNewswire-USNewswire/ -- Attention men: if you want to meet women, go to work. For the first time in our labor history, women will soon outnumber men in the workplace. Two factors are responsible for this landmark statistic: not only are more and more women choosing to work, even while having and raising children, but once in the workplace, fewer women are getting laid off than their male counterparts. According to the latest Bureau of Labor statistics, 10.3 percent of adult men are now unemployed, compared to 7.8 percent women.
Are glass ceilings being shattered here? Probably not. The reason for women's stronger hold on jobs is not because their economic contribution is finally being fairly and fully valued. Rather these new statistics reflect the kinds of positions women typically choose: "safe" jobs in sectors that have not been as hard hit by the current recession, namely government, education, and health care. Studies have shown that women are drawn to jobs in these fields because they are friendlier to flex- or part-time arrangements which women often require in order to balance work and families.
To catch up financially, women need to take more risk. Both in their career choices as well as in their investments, women are often too risk averse for their own good. Their fear of loss means they rarely win the race for financial security. And the ground is far from even in this race: because women live longer, they need more financial resources than men. They need to invest for growth both in their portfolios and in their professions.
Here's a risky move with a big potential pay-off for employed women to consider: ask for a raise. Not just at the moment, perhaps, given the current economic storm clouds, but when the weather clears, as it certainly will. The failure of women to ask for more money, or to negotiate for better perks and promotions, is legendary among human resource professionals.
Whether because of nature or nurture, men rarely have the same problem with the ask. They know what they're worth, and don't hesitate to ask for a bit more.
Ladies, you now have the employment numbers at your backs. You're taking charge of the labor force. Now you need to use this advantage to take charge of your financial destiny. Ask for (and expect) more - more money, more flexible schedules, more benefits, more upward mobility. And while you're at it: more stalls in the women's rest rooms. There are now too many of you to be waiting in line.