by sbouie | May 30, 2016
Tax season is a very difficult time of year for many people. It is a time when good record keeping is vital. The preparation fee is expensive for many families. Some use computer software to avoid fees. However, in doing so they may overlook some tax deductions.
Free tax preparation has always been offered at the Jefferson County Extension office in Monticello, FL. This year the Tallahassee United Way Volunteer Income Tax Assistance (VITA) personnel partnered with the UF/IFAS Jefferson County Extension Office, where they prepared free taxes at the Jefferson County R.J. Bailer Public Library. Appointments were reserved through the library.
A total of 312 Jefferson County residents were helped. The United Way estimated a total of $85,176 were saved in tax preparation fees. Providing these free services to the Jefferson County citizens was a great benefit. For more information, contact UF/IFAS Extension, Jefferson County http://jefferson.ifas.ufl.edu
The UF/IFAS Leon and Madison County Extension Offices also provided VITA for their citizens. They use the traditional Skye Program in collaboration with United Way.
by Judy Corbus | Apr 5, 2016
Spring has sprung and this is the perfect time to clean and freshen your house. But you don’t have to spend a lot of money on cleaning products when you can whip up your own with a few simple, inexpensive ingredients.
The basic ingredient list includes:
- White Vinegar
- Baking soda
- Rubbing alcohol
- Ammonia
- Mild dish detergent
- Washing soda (can be found in the laundry products aisle)
- Borax (also in the laundry section)
Use clean jars or bottles for mixing and storage. Do not use food containers – children can think the contents are something to eat. Also, don’t mix your products in empty cleaning product bottles; residue from the original product may interact with your product, causing a dangerous reaction. Label each product and store out of reach of children. NEVER mix chlorine bleach with ammonia or vinegar – it will create dangerous, toxic fumes!
Here are a few recipes to get you started:
ALL-PURPOSE CLEANER
Mix in a 16 oz. or larger spray bottle:
- 1 cup white vinegar
- 1 cup water
Use on sinks, countertops, lightly soiled range surfaces, floors, toilets, and showers.
WINDOW CLEANER
- 3 tablespoons ammonia
- 1 tablespoon white vinegar
Put in a spray bottle and fill the rest with water.
HOMEMADE LAUNDRY DETERGENT
- 1 bar Ivory® or 1/3 bar Fels Naptha® soap
- 1/2 cup washing soda
- 1/2 cup borax powder
Grate the bar soap into a cooking pot. Add 6 cups of water and heat until the soap melts. Add the washing soda and borax and stir until dissolved. Remove from heat. Pour 4 cups hot water into a clean bucket. Add the soap mixture from the pot and stir. Add 1 gallon plus 6 cups of water and stir. Let the soap sit for about 24 hours and it will gel slightly. Optional: Add 1 ounce essential oil or fragrance oil of your choice.
Use 1/2 cup per load. This is a low-sudsing soap which removes dirt and odor and can be used in high-efficiency machines.
For more product recipes, check out Homemade Household Cleaners and Green Cleaning: Recipes for a Healthy Home.
Sources: Homemade Household Cleaners
Clean It Green!, C. Rogers, UF/IFAS Extension Suwannee County.
by Ginny Hinton | Mar 24, 2016
Oliver Wendell Holmes, Jr. once said, “The greatest thing in the world is not so much where we are, but in which direction we are moving.” That saying holds true when it comes to our health and our finances.
Health and personal financial issues affect millions of Americans. We struggle with epidemic obesity rates, over 79 million Americans have “pre-diabetes”, debt and bankruptcy filings remain high and millions of Americans live on the “financial edge” with less than the recommended three months’ emergency fund set aside for the future. Problems that develop gradually soon become overwhelming.
Many of us, when faced with the need to change, see our problems as unbeatable and “freeze” instead of moving forward. It is true that there is no easy way to lose weight, gain wealth or become debt-free. Even drastic fixes like weight loss surgery or bankruptcy come with huge risks. So, what is the secret?
According to Former HHS Secretary Tommy G.Thompson, small steps are the key! Mr. Thompson stated, “Consumers don’t need to go to extremes – such as joining a gym or taking part in the latest diet plan – to make improvements to their health. But they do need to get active and eat healthier.” No step is too small to get started and you can never be too early or too late. Examples might include walking during your lunch break, cutting out 100 calories a day, saving the change you accumulate each day or tracking your spending for a month. Anything you do daily over a period of time will soon become a habit, or an “automated” behavior. When your healthy behaviors become automated – no matter how small – you’ve just taken a step toward physical and/or financial wellness.
In the end, your health is in your hands. Set realistic goals, take small steps to reach them, learn from the obstacles and believe that you can achieve. And remember, “In the end, the only people who fail are those who do not try.” – David Viscott
Adapted from Small Steps to Health and Wealth, B. O’Neill and K. Ensle, 2013.
by Judy Corbus | Mar 15, 2016
Photo credit: pixabay.com
In spring cleaning mode? If so, now is the perfect time to de-clutter your financial life. Organizing important papers as well as purging unnecessary ones will reduce paper clutter and stress and help you to locate what you need when you need it. Let’s get started!
Store home files as follows:
- Current files – day-to-day records. These include bank account information, bills and receipts, loan agreements, and certain medical information. For a list of suggested categories, check out Financial Recordkeeping: Organizing Your Financial Life.
- Permanent files – on-going records used infrequently, such as employment and education records and health benefit information.
- Dead storage – anything you feel uncomfortable discarding, such as old tax records or real estate you’ve sold. These can be stored in less accessible drawers or boxes.
Discard the following monthly: Credit card, grocery, ATM, and debit card receipts after they appear on the statement unless they are needed for taxes, business, or proof of purchase.
Keep these items for one year:
- Paycheck stubs – save until you compare with your W-2 and Social Security earnings statements then shred.
- Canceled checks and bank statements – shred unless needed for tax purposes or can be retrieved online.
- Quarterly investment statements – double-check with year-end statements then shred.
How Long to Keep Tax Records
The IRS recommends 3-6 years for income tax records, worksheets, and documentation of deductions. Keep records for as long as needed for administration of the IRS code. Tax records often are useful in situations where financial history is relevant.
Do Not Toss:
- Birth and death certificates, adoption decrees
- Marriage licenses and divorce decrees
- Social Security cards
- Military discharge papers, including spouse, even if deceased
- Immigration documents
- Pension plan information from current and former employers
- Estate planning documents
- Life insurance policies
- Titles for property still owned
De-clutter a section at a time – if the task seems overwhelming, work at it 15 minutes a day until you’re finished. Then, enjoy less stress with organized files!
Adapted from De-Clutter Your Financial Life, Julie England, UF/IFAS Extension Lake County, and Lisa Leslie, UF/IFAS Extension Hillsborough County, 02/16.
by Judy Corbus | Feb 10, 2016
As W-2 forms and other receipts start rolling in, we’re reminded that tax season is upon us once again. It’s exciting to get back some of your own hard-earned money in the form of a tax refund! Saving a portion of your tax refund can be a big step toward meeting your savings goals, so it’s no surprise that a 2015 tax season survey found that a majority of those who receive a refund planned to save it.
This tax season, reward yourself for saving some of your refund by entering for a chance to win $25,000 through SaveYourRefund. SaveYourRefund has 101 cash prizes, including 100 weekly prizes of $100 and one grand prize of $25,000. Making smart financial decisions isn’t always easy, but splitting your refund couldn’t be simpler. Follow these quick and easy steps to enter to win in 2016:
- Use Form 8888 to split your refund. Entry to win with SaveYourRefund starts with splitting your refund into savings.
- Save $50 or more of your tax refund. In order to enter, use Form 8888 to save at least $50. There are a number of accounts you can save into including a savings account, a U.S. Treasury Direct account (savings bond), and a myRA retirement account.
- Visit SaveYourRefund.com to enter. You will automatically be eligible to win one of ten $100 prizes that will be given away every week from the start of the contest until the end of tax season.
- Upload a picture here that represents your savings goal or motivation, and you’ll be entered to win the $25,000 grand prize!
Need tax assistance? Take advantage of a Volunteer Income Tax Assistance (VITA) program. VITA programs offer free tax help to those who generally make $53,000 or less, persons with disabilities, the elderly, and limited English speakers.
Get ahead of your financial goals by splitting your tax refund into savings, and reward yourself with SaveYourRefund!
Source: Tammy Greynolds, AmericaSaves.org.
by Dorothy C. Lee | Nov 27, 2015
It’s the season to be jolly, but for many of us it’s the season to be overstressed as well. If getting ready for the Holidays is beginning to feel like a full-time job, start rethinking your holiday plans and consider streamlining, or even scaling back, some of your activities.
Following are some holiday survival tips that can help you save time and money, and preserve the holiday spirit in your heart.
- A few shopping strategies can help you save time and reduce the hustle-bustle stress. Shop early in the month and early in the day.
- Take advantage of free gift boxes and free or low-cost wrapping services. Wrapping presents can take as much time as shopping for them.
- Shop online and have the company wrap and ship gifts directly to recipients. Make sure you are shopping on a secure site. Look for the padlock icon.
- Simplify gift giving by choosing a theme. For example, buy a book or a sweater for everyone on your list.
- Suggest exchanging cards instead of gifts at the office.
- To keep packages sorted, wrap all of each person’s gifts in the same wrapping paper color or pattern.
- Instead of exchanging gifts with a friend you haven’t seen in a while, suggest a Dutch treat lunch date at a nice restaurant.
- Call a family meeting or, if family members are distant, arrange a conference call, or a mass text or email to discuss gift giving. You are probably not the only one who wants or needs to scale back on gifts. Strategies to discuss include drawing names so each individual buys a gift for only one person; giving family gifts; or giving gifts only to the children.
- Establish a spending limit and stick to it. If your holiday cash is limited, make gifts well in advance or think of creative ways to give of your time AFTER the holidays.
- Simplify your plans. You don’t need to decorate every room in your house or give gifts to everyone who sends you one.
- Reduce your entertaining requirements. Plan a themed potluck instead of dinner parties for which you are responsible for all the food. The same goes for family get-togethers. Ask each participant to contribute a dish for the meal.
- Keep your priorities straight: take time to think about what is really important to you; be realistic about how much you can do; don’t be afraid to say no.
- Setting priorities will help keep your schedule manageable. Draft a schedule that includes all the tasks you have to complete, how long you think each task will take, and when each needs to be done.
Most importantly, enjoy the holidays!
For further information contact:
Dorothy C. Lee, C.F.C.S.
UF/IFAS Extension Escambia County
3740 Stefani Road
Cantonment, FL 32533-7792
(850) 475-5230
dclee@ufl.edu
For additional information, go to the University of Florida Solutions for Your Life website, http://www.SolutionsForYourLife.com
Tax season is a very difficult time of year for many people. It is a time when good record keeping is vital. The preparation fee is expensive for many families. Some use computer software to avoid fees. However, in doing so they may overlook some tax deductions. 
