Extreme Couponing for Normal People

The hit TLC show "Extreme Couponing" is back tonight with its second season - and fans of the show are eagerly waiting.

If you haven't seen the show before, prepare to be amazed. "Extreme Couponing" chronicles the shopping adventures of what it terms 'extreme couponers' - everyday folks who clip coupons and hunt for deals to get their groceries and other every day items for significantly less than retail pricing - in some cases, even free.

While couponing may not be for everyone, one thing is for sure, everyone loves to save money. While most extreme couponers spend hours and hours each week searching for coupons online, clipping newspaper coupons and researching advertised store pricing, there is an easier way to take advantage of couponing without spending 'extreme' effort.

Websites such as coupons.com offer free printable coupons straight from your computer, which saves you the effort of buying the Sunday newspaper and clipping coupons. On Coupons.com you simply register an account, log in as often as you like, and select the coupons that interest you for printing. Its quick, simple, free and offers similar deals to what you will find in your newspapers. Another great source of coupons arrives in your mailbox every week. Take a closer look and you will sometimes find mailings from companies like RedPlum and SmartSource or simply go to their website and print coupons direct from your computer.

Search the web and you will find a tonne of blogs and websites dedicated to the art of saving money by couponing. Of note is The Krazy Coupon Lady who updates her blog each week with a Krazy This Week article on where to go for the hottest deals - and provides tips on which coupons to match up with already low advertised prices to get an even bigger bargain. Whilst some of the grocery stores mentioned may not be available in your local area, the deals for national retailers such as Walmart, Walgreens, CVS, Target and KMart offer great insight to the deals available in stores that are accessible to most people.

If you've never couponed before and don't know where to start, head on over to LivingWellSpendingLess.com where you can get a free eBook, watch how-to videos, or even enroll in an in-person couponing class, which will give you the know-how to start saving 'extreme' in the grocery isle.

Manufacturers are always looking for new ways to market interactively with consumers, and you don't need to look much further than the social networking sites such as Facebook and Twitter to observe that most leading brands have their very own Facebook page and Twitter feed where they not only promote their products, but also offer coupons, mail in rebates, competitions and promotions in an ongoing effort to build customer loyalty and brand image - while giving every day normal people like you and I instant and ongoing access to great deals to help you spend less - and save more.

Continue reading more personal finance articles on StatementChecker.com where you can access free money saving tools and calculators, and a wide range of personal finance resources.

Extreme Couponing amounts to Extreme Savings

The TLC hit show "Extreme Couponing" has taken America by storm, inspiring shoppers across the nation to shop smart, stock up, and save big in the grocery isle.

While it might not be for everyone, couponing certainly has its advantages - and in the current economy, shoppers everywhere are trying to make their dollar go further. It's little surprise that couponing is becoming a major shopping craze.

The Sunday newspapers are the easiest, and best source of coupons, where you will find coupons from both manufacturers and local stores in your area. Most deals have a limit of one item per coupon, so double up your savings by buying an extra copy (or two) of your Sunday newspaper, and you are on your way to "extreme" savings.

Many stores will also match competitor coupons and advertised deals, so if you usually shop at Walmart, you don't need to change your shopping routine on account of a great deal advertised at Publix or Walgreens. Walmart's price match policy states that they will match any advertised competitor price, including "buy one, get one free" deals, so long as there is a specified price. "Buy one, get one free" deals that don't state a specified price won't be accepted - Walmart needs to see a advertised price in the advertisement. Take your competitor catalogs with you when you shop, and let the cashier know when you are checking out that you have a price match guarantee - they will adjust your total at the checkout for everything that you have a cheaper advertise price (or coupon) for. Watch your savings grow in produce, dairy, meats, merchandise and general grocery items.

By mixing your manufacturers coupons with advertised store deals, you can really start to maximize your savings. Take advantage of a "Buy one, get one Free" deal, and use a manufacturers coupon in addition to an already low price, and you will really start to see "extreme couponing" savings. For more money saving tips, ideas and tools, visit StatementChecker.com for personal debt auditing, budgeting and finance tools - and even a few links to printable coupons!

Stastically. . .

Can I deduct Health Insurance Premiums on my Tax Return?

If your self employed, you may be able to! 

Here is some information from the IRS about a special tax deduction for the self-employed. You may be able to deduct premiums paid for medical and dental insurance and qualified long-term care insurance for you, your spouse, and your dependents if you are one of the following:

• A self-employed individual with a net profit reported on Schedule C (Form 1040), Profit or Loss From Business, Schedule C-EZ (Form 1040), Net Profit From Business, or Schedule F (Form 1040), Profit or Loss From Farming.

• A partner with net earnings from self-employment reported on Schedule K-1 (Form 1065), Partner's Share of Income, Deductions, Credits, etc., box 14, code A.

• A shareholder owning more than 2% of the outstanding stock of an S corporation with wages from the corporation reported on Form W-2, Wage and Tax Statement.

• For self-employed individuals filing a Schedule C, C-EZ, or F, the policy can be either in the name of the business or in the name of the individual.

• For partners, the policy can be either in the name of the partnership or in the name of the partner. You can either pay the premiums yourself or your partnership can pay them and report the premium amounts on Schedule K-1 (Form 1065) as guaranteed payments to be included in your gross income. However, if the policy is in your name and you pay the premiums yourself, the partnership must reimburse you and report the premium amounts on Schedule K-1 (Form 1065) as guaranteed payments to be included in your gross income. Otherwise, the insurance plan will not be considered to be established under your business.

• For more-than-2% shareholders, the policy can be either in the name of the S corporation or in the name of the shareholder. You can either pay the premiums yourself or your S corporation can pay them and report the premium amounts on Form W-2 as wages to be included in your gross income. However, if the policy is in your name and you pay the premiums yourself, the S corporation must reimburse you and report the premium amounts on Form W-2 as wages to be included in your gross income. Otherwise, the insurance plan will not be considered to be established under your business.

The insurance plan must be established under your business.

We're rolling out the red carpet - March 7th Beta Launch

Our Beta site is finally live! Please check it out, we'd love to hear your feedback - subscribe to our mailing list, or friend us on Facebook or Twitter to be kept up to date with all our news as we progress towards completion.

Mortgage Debt Forgiveness - IRS Tax Relief

If your mortgage debt is partly or entirely forgiven during tax years 2007 through 2012, you may be able to claim special tax relief and exclude the debt forgiven from your income. Here are 10 facts the IRS wants you to know about Mortgage Debt Forgiveness.

1. Normally, debt forgiveness results in taxable income. However, under the Mortgage Forgiveness Debt Relief Act of 2007, you may be able to exclude up to $2 million of debt forgiven on your principal residence.
2. The limit is $1 million for a married person filing a separate return.
3. You may exclude debt reduced through mortgage restructuring, as well as mortgage debt forgiven in a foreclosure.
4. To qualify, the debt must have been used to buy, build or substantially improve your principal residence and be secured by that residence.
5. Refinanced debt proceeds used for the purpose of substantially improving your principal residence also qualify for the exclusion.
6. Proceeds of refinanced debt used for other purposes – for example, to pay off credit card debt – do not qualify for the exclusion.
7. If you qualify, claim the special exclusion by filling out Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness, and attach it to your federal income tax return for the tax year in which the qualified debt was forgiven.
8. Debt forgiven on second homes, rental property, business property, credit cards or car loans does not qualify for the tax relief provision. In some cases, however, other tax relief provisions – such as insolvency – may be applicable. IRS Form 982 provides more details about these provisions.
9. If your debt is reduced or eliminated you normally will receive a year-end statement, Form 1099-C, Cancellation of Debt, from your lender. By law, this form must show the amount of debt forgiven and the fair market value of any property foreclosed.
10. Examine the Form 1099-C carefully. Notify the lender immediately if any of the information shown is incorrect. You should pay particular attention to the amount of debt forgiven in Box 2 as well as the value listed for your home in Box 7.

For more information about the Mortgage Forgiveness Debt Relief Act of 2007, visit IRS.gov. A good resource is IRS Publication 4681, Canceled Debts, Foreclosures, Repossessions and Abandonments. Taxpayers may obtain a copy of this publication and Form 982 either by downloading them from IRS.gov or by calling 800-TAX-FORM (800-829-3676).

Social Security 101: What’s in it for me?

Are you a college student or young worker getting started on your career? Curious what that FICA tax is that comes out of your paycheck? Want to know how Social Security can help young people?  These questions and more will be answered during the webinar, “Social Security 101: What’s in it for me?”

Watch the interactive broadcast on Thursday, March 10, 2011 at 3:00 p.m. EST and get some tips on saving and planning for your financial future. RSVP online for the webinar, and help spread the word!