When you get paid small amounts of cash every day it’s easy to think you can just pretend they never happened. But tips are income and the IRS is well aware that servers are notorious under reporters of income. But reporting your tips isn’t just the right thing to do, it can also help you show more income which will go a long way with creditors.
I’ve been bugging my wife to open an individual retirement account (IRA) in addition to her state retirement plan. Of course, she’s looking to me for the basics like…”OK, where do I open the account?” Easy question; tricky answer. I’ve held IRAs in two places. A few years back I rolled over a 401(k) to […]
Graduation season’s just around the corner, and soon-to-be grads nationwide are plotting the next big move. Many of you coming out of college may soon start earning your first steady, full-time paycheck (and it will hopefully be bigger than those $8-an-hour jobs you used to work over summer vacation). But with a new income come […]