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SAVING YOU MONEY: Financial Infidelity & End of Year Tax Tips

SAVING YOU MONEY:  Financial Infidelity & End of Year Tax Tips

Stacy Case

 It's a struggle for many of us to stay on budget this time of year.   For couples, with different ideas on which gifts to buy and for who,  it can be especially stressful.
 Overspending can really strain a relationship and an estimated 48 percent of us disagree over how much to spend.
   A few things that may help you manage the economic  expectations between you and your significant other are.
   First, avoid financial infidelity.  This is where one spouse isn't honest about spending and keeps a wandering wallet or credit card.
    Talk and come up with a united financial plan during the holidays.
    A lot of times, an underlying problem leads to overspending.  Try to identify what that is.
     Hold each other accountable when it comes to sticking to that plan.
 
 We've been sharing end of the year tax tips that will save you come April.    If you own a business and hire a veteran before December 31st, you could qualify for a $96 hundred dollar tax credit.
   That tax provision expires at the end of the year, so Dan Boone with the IRS says, don't wait!
   Another one December 31st is the Residential Energy Credit.  You can get $500 off your tax bill for installing energy efficient windows, insulation and water heaters.   
    Also, don't forget the Savers Credit for low to middle income workers.
   If you make contributions to your retirement account, like a 401K  before December 31st,  you get a tax credit in April.
   Get more end of the year tax tips at www.irs.gov