Use gallons per mile to measure fuel efficiency
COLUMBIA, Mo. – If you’re in the market for a car that will save you money at the pump, looking at miles per gallon may not be the best way to compare fuel efficiency, says a University of Missouri Extension financial planning specialist.
MU Extension specialists on coping with COVID-19's financial impact
COLUMBIA, Mo. – University of Missouri Extension faculty recently appeared on NBC affiliate KOMU-TV, Columbia, to talk about financial aspects of the COVID-19 crisis, which has hammered the stock market and shuttered countless businesses and workplaces. In these installments of KOMU's "COVID-19 Town Hall" series, they offer information on saving and investment strategies, safeguarding your finances, and where individuals, families and…
Tax deadline looms: Should you file for an extension?
COLUMBIA, Mo. – The bell for the April 17 tax return deadline tolls for thee.But don’t panic, says University of Missouri Extension personal financial planning specialist Andrew Zumwalt. Income tax extensions are easy to file and give filers some breathing room. You can get an automatic six-month extension of time to file from the Internal Revenue Service.
Property loss from disasters may be tax deductible
Related video: Coping with disaster, youtube.com/watch?v=q6_ugKGvd_MCOLUMBIA, Mo. – Disaster victims may recoup some of their uninsured losses from natural disasters, said former University of Missouri Extension consumer and family economics specialist Brenda Procter. Uncompensated property losses in presidentially declared disaster areas are tax deductible.
Avoid identity theft during tax season
COLUMBIA, Mo. – Identity thieves thrive during tax filing season.Take steps to prevent those electronic criminals from lining their pockets with your refund and personal information, says University of Missouri Extension personal finance specialist Andrew Zumwalt.First, file taxes promptly. Identity thieves try to file early so your refund goes to them before you file.
File a tax return even if you don't have to
COLUMBIA, Mo. – University of Missouri Extension personal finance specialist Andrew Zumwalt offers three reasons why you should file a tax return even if it is not required.
Choose your tax preparer wisely
COLUMBIA, Mo. – Exercise caution if you pay someone to do your taxes, says University of Missouri Extension personal finance specialist Andrew Zumwalt.Most tax return preparers are professional and honest, but not all, he says.
Advice for choosing a tax preparer
If you pay someone to do your taxes, be careful. Most tax return preparers are professional and honest, but some are not.
Beware of tax scams
Don’t fall victim to tax scamsThese schemes take several shapes, ranging from promises of large tax refunds to illegal ways of “untaxing” yourself. The IRS suggests that you remember three important guidelines:
Paying to borrow your own money is a bad deal
The ball at Times Square had barely touched bottom before the ads for tax-refund loans began broadcasting across the country. But getting tax refund money just a few days earlier can cost you.
Tax refund advice: Save some, spend some
COLUMBIA, Mo. – Income tax refunds are ready to roll out. You might want to hold on to some of that cash.Refunds are wages you earn throughout the year and should be thought of as hard-earned money rather than found money, says Andrew Zumwalt, personal finance specialist with University of Missouri Extension.For the wise, a refund windfall is a chance to stash some of the cash in an emergency fund. Use some to pay down high-interest…