by Stephanie Jimenez
With April 17 right around the corner, the biggest thought on consumer’s mind is tax day. The big question… will I get money back? And if so, how can I make my money work for me instead of against me?
With an App for everything, we took the opportunity to highlight the top apps for up-to-date money management along with including “Tips from the Pros” on how best to make your money work for you.
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by Stephanie Jimenez With April 17 right around the corner, the biggest thought on consumer’s mind is tax day. The big question… will I get money back? And if so, how can I make my money work for me instead of against me? |
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| LoanShark – LoanShark lets you calculate the actual costs of various loans, compare interest rates and repayment terms, and view full amortization tables for different loan scenarios. Other functions allow you to calculate how long it will take to pay off credit cards, track the progress of your mortgage and locate banks geographically. $4.99 | Bloomberg Mobile – Bloomberg Mobile includes tools to help you analyze the world’s market with up-to-the-minute news, stock quotes, company descriptions, price charts and market-trend analysis. Mobile also uses iPhone’s position sensor to create expanded charts in the horizontal position. Free |
| Mint – Based on the popular financial Mint.com site, this app automatically enters your transactions, updates account balances, and sends real-time alerts for low account balances, over-budget and unusual-spending activity. Users applaud the latest update’s improved security and transaction editing. Free | PAYware Mobile – This VeriFone app transforms your iPhone into a secure payment portal so small-business owners will never miss a sale. Swipe a client’s card, capture a signature and enjoy the convenience of secure payments anywhere a phone signal is available. $1.99 |
| iPortfolio – This is the perfect app if you just want a simple stock-portfolio tracker without creating an account and registration. This simple and elegant app makes viewing stock quotes, portfolio performance and gains and losses just a tap away. $2.99 | TripLog/1040 – Recording mileage and trip expenses can be a nightmare. TripLog/1040 makes the process easier and stores all data. You can track deductible or reimbursable mileage for three different cars in different categories. Storable info includes date, distance, category, destination, trip purpose, tolls and parking. $12.99 |
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Professional Tax and Financial Services offers the following advice:
“If you are self-employed, you may be able to deduct health insurance costs (including long-term care insurance) for yourself, spouse, dependents and children. If you itemize, you may be able to deduct accounting and legal fees for tax preparation and planning services. And don’t forget to take into account any life changes this year, and adjust your withholding accordingly. This way, you can avoid unpleasant surprises when preparing your 2012 tax return. If your earnings were low last year and you contribute to an IRA for 2011 (you have until April 15, 2012 to fund it), you may be eligible for a tax credit. Remember, IRS rules are complicated. These tips may or may not apply in your situation. Consult with your CPA on these and other opportunities to decrease your tax liability.” says CPA Jerry Schneider.
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Tax Specialist Michael Green says, “Married filing separately? When a married couple files separate returns and one spouse itemizes deductions, the other spouse cannot claim the standard deduction and therefore must itemize to claim their allowable deductions. Standard deduction amounts -Your standard deduction is based on your filing status and is subject to inflation adjustments each year.” For 2011, the amounts are as follows: Single: $5,800 Married Filing Jointly: $11,600 Head of Household: $8,500 Married Filing Separately: $5,800 Qualifying Widow(er): $11,600. |