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Tip of the Day Pay Off High Interest Debts Before You Start Saving

Pay Off High Interest Debts Before You Start Saving - A lot of people feel they should start saving while still paying high interest payments on their debts. This...

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Tax Credit

Definition: Tax credits are credits that reduce a person's tax liability by an amount equal to the tax credit.

Advice: Tax credits are great because they reduce your tax liability by an amount equal to the tax credit.  This differs from a tax deduction, which just reduces your taxable income.  Here's an example:

Tax deduction = $1000
Tax credit = $1000

Tax Deduction = $1,000 * 25% = $250 in tax savings
Tax credit = $1,000 = $1,000 in tax savings

 

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Tax credits are great because they reduce your tax liability by an amount equal to the tax credit.

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Definition of the Day Hot Call

Definition: A hot call is when a stock broker or other investment professional calls one of their leads.  These are typically people who have said that they want to open an account with them prior to the phone call.  A call where the broker does not personally know the client...

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