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ByUSACash

How to Apply and Spend your Biden Money Checks

As the US and most countries , globally, print their way out of this exongenous shock, there are free benefits being handed out – left, right and centre – literally and proverbially. It is a tax on those that do not receive funds.

Click here and go and APPLY NOW for Free. The value of every currency is being inflated away so might as well make sure you have some of it. If you want your payment directly deposited into your bank account, which is faster than getting a paper check, you can also provide your account information through the tool.

To be sure that you get it, file your 2020 tax return. If you are wondering how to get their payment, particularly if you don’t file taxes. The good news is that you may still be eligible to receive the payment—you can also claim the other two if you haven’t received them already. The bad news is that you may need to file a 2020 tax return even if you don’t traditionally file.

The IRS hopes most non-filers will go online and use the “Enter Your Payment Info Here” tool, but it also announced alternative procedures for filing “simplified” tax returns.  If you file one of these simple returns by October 15, 2020, you will receive a stimulus check before the end of the year. The first type of simplified return is for anyone who isn’t required to file a 2019 return, but who wants to file just to get a stimulus payment (the second type is described below). This type of return can be filed electronically or by mailing in a paper return. However, the IRS spelled out very precise instructions on how the return should look. In addition to including your name, address, Social Security number, filing status, dependency status, and other basic information required on Form 1040 or Form 1040-SR, you must:

  • Write “EIP2020” on the form (for paper returns, write it above the printed material at the top of page 1; for electronic returns, it must be included in the designated field);
  • Leave Column 4 in the dependent information section blank (complete the rest of the section for each dependent who was under the age of 17 at the end of 2019);
  • Enter $1 on Lines 2b (taxable interest), 7b (total income), and 8b (adjusted gross income);
  • Enter the applicable standard deduction amount for your filing status on Line 9 if you’re filing electronically;
  • Enter $0 on Line 11b (taxable income);
  • Leave the box on Line 21a unchecked, because stimulus payments can’t be divided among multiple accounts;
  • Leave all other lines blank, even if the values for these lines are in fact not zero; and
  • Provide your identity protection personal identification number (IP PIN), if applicable, and sign the return under penalties of perjury.

As far as spending your stimmy cheques, here are some tips:

  • pay down highest debt – whether payday, student loan or credit card debt.
  • splurge on your family;
  • buy something nice and shiny – an iphone or addidas shoes.

 

ByUSACash

Maximizing Tax Refunds and Getting a Larger Cheque

USACashMoney has a #lifelesson series to get you further than others

1. Maximize your Filing Status

You can only file using the head of household (HOH) status for 2020 if you:

  • Are unmarried on December 31st
  • Paid more than 50% of the costs of maintaining your home in 2020, AND
  • Have one or more dependents living with you for at least six full months in 2020

Head of household usually gives you a tax advantage, so if you can, go for HOH over single filing status.

Also married filing jointly gives you tax advantages, typically.

 2. File Your Taxes on Time

By filing earlier, you can get the refund sooner and the value of a dollar in hand is worth more at a future point in time. Also you can avoid any late fees and payments. ou’ll have to pay 5% of your unpaid taxes over a maximum of five months—and that adds up quickly. If you have to file your tax paperwork late, make sure you pay any tax owed by April 15th to avoid interest and mail your tax return or e-file as soon as possible afterward.

 3.Claim All Available Deductions & Credits

Tax deductions are qualified expenses that can reduce your taxable income. Most taxpayers tend to focus on the most well-known deductions such as charitable donations

Common ones include charitable giving, including tithing to churches, synagogues, temples or mosques. If you made donations to any qualified charitable organizations, the value of the items donated may be deductible. It’s important that you keep all the receipts for the purchases of your donated items.

Credits are another way of reducing your taxable income. However, it can be said that they are more effective than deductions at reducing your tax bill. Credits are netted directly against the amount of income tax you owe, rather than merely reducing the amount of income upon which you owe tax, as tax deductions do

The Child Tax Credit and the Additional Child Tax Credit may be available to you if you have qualifying children. The Child Tax Credit (the Additional Child Tax Credit) is in addition to the Child and Dependent Care Credit.

 4.Decide if you Should Itemize

Every taxpayer should take into account is whether or not they should itemize deductions. Generally, you should itemize your deductions if it results in a lower total taxable income than if you claim the standard deduction.

Making the choice to itemize your deductions is generally recommended if you:

  • Incurred substantial unreimbursed medical and dental expenses in a given tax year
  • Paid interest or taxes on your home or other personal property.
  • Had large unreimbursed casualty or theft losses
  • Donated large contributions of cash or tangible goods to a charitable organization

At the end, if you are unsure please reach out to your local CPA firm or an enrolled agent. A larger IRS refund will get you further than your neighbor in paying down debt and saving some for a rainy day.

ByUSACash

Top 3 Gifts for Valentines

Americans expect to spend an average of $142 on a Valentine’s Day present for their significant other this year. The average amounts U.S. adults expect to spend on romantic presents differs by generation. Here’s the breakdown:

  • Gen Z (ages 18 to 23): $82
  • Millennials (24 to 39): $113
  • Gen X (40 to 55): $293
  • Baby boomers (56 to 74): $55

And here’s how the responses differ by gender:

  • Men: $249
  • Women: $57

We recommend the following top 5 gifts:

  1. Experiences to see either their favorite superstars (such as Auston Matthews, Mookie Betts, or Steph Curry) or their favorite teams (Yankees,  Leafs, Mavericks, Bucks) play. The cash can always be gathered through an instant loan or payday cash advance as these events or experiences do not happen twice.

 

 

 

 

 

 

 

 

 

 

 

 

 

2. Traveling to favorite spots – Whether an impromptu getaway, great restaurant or going down memory lane, travelling during valentines day is definitely recommended.

 

3.  Something that makes a difference:

  • Taking care of the kids
  • Cooking dinner
  • Not spending on yourself
  • Quality time with extended family

ByUSACash

Are Business Loans Different Compared to Personal Loans?

 

Personal Loans

A personal loan is precisely what the name indicates: a loan for personal use. Personal loans are a lump sum of money that, if approved, is given to you to do whatever you’d like to with it.

Of course, the “personal” in personal loans means that the intention is to give people some financial help with matters not related to their business. If you’re thinking of renovating your kitchen or even just want to help out a relative in need, you can do with it as you please. Their requirement criteria are flexible making them very appealing and easy to get. This is because of the non-business nature of the loan—and usually the fact that smaller amounts are involved—personal loans don’t often have the same strict requirements for business financing.

The Business Loan

You would take a business loan to pay for business expenses. The amount you can borrow is higher since business expenditures are usually big investments. If you’re looking to renovate your store, buying new equipment, or seeking funds to hire staff, business loans can support all of these.

Of course, because of the professional nature of business loans, that also means there’s an added level of complexity and qualification to get business loans. Good business credit is essential, and many more options such as variable rates, interest costs, and payment options and structuring are going to factor into your loan amount. You may even need to provide collateral for some types of business loans or even get specific types of loans, such as equipment loans.

The Big Difference Between Personal & Business Loans

Looking at all this, you might think to yourself, “why shouldn’t I just use personal loans all the time if business loans are more complex and rigorous?” One answer to this question is the liability. It’s true that personal loans can be used for anything you like, including investing in your business. However, there’s one big catch. A personal loan leaves you and your personal finances liable for anything that goes wrong.

A business loan, once granted, is intended to be used by your business. Meaning, that if you are unable to return the borrowed amount, it’s your business that’s held responsible. Having the business held responsible, your personal credit score remains protected. On the other hand, with personal loans, the bank has the right to attempt to collect that debt from you personally, this includes any assets owned by you. This in turn negatively affects your personal credit score.

Understand your borrowing options

Ultimately, it’s up to every person to decide whether or not the risk is worth the reward. For some, a personal loan used to cover a business investment is fast, makes sense, and is easy to address. For others, however, using personal loans instead of business loans puts you at real financial risk that’s not worth taking. At USACashMoney, we have a few options to help your business with various personal loans.

ByUSACash

Checklist to ensure that you get a Loan right away

The following checklist is key to getting funding, whether payday loan, personal loan, instalment loan (bad credit, good credit or no credit). If you have all the below, you are 90% of the way to getting approved.

  • Ensure that you have a direct deposit checking account
  • Be a U.S. resident
  • Have a monthly income, after taxes, of $1,000
  • Have a verified email or phone number
  • Be over 18 years of age

Here are some extra tips to ensure that you will qualify:

  1. Ask for a smaller amount than you need
  2. Apply using family members over 18
  3. Show all assets owned (home, cars, electronics, jewelry, other personal items)

 

All of the above will ensure that you qualify for either of the following loans:

  1. Personal loans (student, wedding, consolidation, bad credit loans)

  2. Payday loans

  3. Auto loans

 

 

ByUSACash

Installment Loans – Good for you?

Installment loans can be an incredible tool in your personal finance arsenal when used effectively. The term might sound unfamiliar or intimidating, but you’ve probably used an installment loan before, and almost certainly know someone else who has. Student loans, mortgages, personal loans, car loans – these are all common types of installment loans.

Whether you get them at a bank, or through an online lender, installment loans can help you deal with large, lump-sum costs that you may not have been able to save for. A lot of events that push people’s finances over the cliff are usually unexpected incidents like car malfunction or medical expenses. You might default to using credit cards to cover these costs, but this can be very detrimental to your financial fitness, as we’ll discuss in this post.

Even if the costs are for something that’s planned, like evening classes or moving costs, you might not have all the money you need up front. That’s when something like installment loans can be very helpful.

 

1.  Pursuing higher education

If you have federal student loans, you already have more experience with installment loans than you’d probably like.

2. Buying a house

Mortgages are just installment loans secured against houses.

Unless you are Taylor Swift, it’s unlikely you’ve got the cash necessary to buy a house outright. If you’re not feeling 22 (million dollars), mortgages end up being long-term loans (usually 30 years) so you and your installments might as well get cozy now.

3. Buying a car

Auto loans are another common example of installment loans. If you don’t have the cash to cover the upfront costs of buying a car, installment loans can help without stretching your bank account too thin.

4. Dealing with an unpredicted event

Installment loans can also help you cover unexpected costs. A parent may need assistance to pay for a surgery not covered by their HMO. Your car might suddenly stall in the middle of your morning commute!

You can’t always plan for medical and car repair bills, but they can quickly wreak havoc.

Paying those bills back in installments, as you continue to earn money working, can make otherwise painful medical expenses affordable. If you need access to credit quickly, it’s worth checking out online loans. A lot of new, alternative lenders have quick and easy applications that will allow you to get your money within days.

5. Investing in your career or yourself

Early on in your career, there will be many times when you have to invest in yourself. This might mean signing up for evening classes or coding bootcamps or relocating to a new city for a job. Many of these expenditures will require upfront investment that you might not be able to afford right away. If these are good investments that will pay off, then you can use a personal loan (a type of installment loan) to get the capital upfront, and pay it back more slowly over time.

Installment loans can be better than other types of credit (such as credit cards) because their interest rates tend to be fixed and lower. While it might be tempting to put everything on your credit card, it’s often a wiser financial decision to compare your options and make sure that you are not paying too much in interest and fees.

ByUSACash

Why Consolidate Debt

Debt consolidation is using one loan or credit card to pay off multiple loans or credit cards so you can simplify your debt repayment. With one balance instead of many, it should be easier to pay off your debt and, in some cases, secure a lower interest rate from the lender.

How Debt Consolidation Works

Let’s say you have multiple small loans with different interest rates and monthly payments:

Credit card A: $3,500, 24.90% APR
Wedding LoanB: $2,500, 18.90% APR
Payday Loan C: $1,500, 12.00% APR

Rather than paying these balances individually, you can consolidate all three balances with a single loan that requires one payment instead of three. For example, if you consolidate these balances into a $7,500 loan with 7.00% APR and pay off the loan in four years, you’d pay $1,120.80 in interest. By comparison, if you made a 4% monthly minimum payment on each loan, it would take more than $5,440 in interest payments and 12 years to completely pay off the debt.

Types of Debt Consolidation

There are a few methods you can use to consolidate your debt. Your options may be limited depending on the type of debt, your credit standing, and any real estate assets you have.

Credit Card Balance Transfer

A credit card with a high credit limit and a promotional interest rate on balance transfers is a good candidate for consolidating other high interest rate credit card balances onto a single credit card. Combining your balances under an interest rate that’s lower than the average rate of your existing balances allows you to save money on interest and pay toward one credit card instead of several.

Advantages of Debt Consolidation

  1. The average American cardholder has 7 credit cards. In a two-parent household with other debt obligations for a car loan, student loan or mortgage, the household debt payments add up quickly. When there isn’t enough money to pay off all these debts in full, deciding how much money to allocate to each debt can be a difficult juggling act, one that is repeated every month. Consolidating debt can provide an easier management process, resulting in a lot fewer transactions to track.
  2. With so many debt payments, it is easy to miss one every once in a while, even with the best intentions. Missing a single minimum payment by just a few days can result in penalties and fees.
  3. For some borrowers, debt issues can create an overwhelming situation internally. Getting into debt beyond means of repayment can have serious effects on your emotional well-being. Being able to take control of your debt rather than letting your debt control you can relieve some of this stress and have a positive effect on your mental health.
  4. Simply taking less time to pay your bills every month and having the confidence that nothing has been forgotten can be a big stress reliever. Various polls indicates that nearly one-quarter of American cardholders are surprised at least sometimes by a larger than expected credit card bill. Having a clearer picture of your financial situation and confidence that you have a well-defined path forward can be easier when you have fewer debts to manage. Seeing regular progress on debt reduction can be a big motivator to help you take additional positive action.
  5. Avoiding the stress of poor debt management can even have positive physiological benefits. Stress has been linked to the worsening of health conditions including obesity, heart disease, Alzheimer’s disease, diabetes, depression, gastrointestinal problems, and asthma. Reducing stress can make you feel better not only mentally, but also physically.

USACashMoney has options to reduce your overall interest payments and make your life easier – consolidate your debt today!
ByUSACash

Loan Funding Partnership – Higher Loan Approval Rate

We are proud to announce that we have partnered with new funding sources. This means that each loan application, during this coronavirus outbreak, has a higher probability of being approved regardless of your situation.

Our sources are willing to underwrite more of the personal loans, instalment loans, bad credit loans and payday loans than ever before. While there are still certain requirements, all it takes is a 5 minute application and your probability of getting access to these funds become easier, than ever before.

Do not wait and apply today.

 

 

ByUSACash

Personal Loans – Budgeting Tips while Raising Kids Tips

You may have heard that the cost to raise a child to the age of 18 has surged to a staggering $233,610. This is actually a average base case cost of raising a child in the United States, per United States Department of Agriculture (USDA).

One way to start budgeting is to list what you earn, spend money on and owe. It can help to look at past salary statements, benefit statements, bills, bank statements and credit card statements. If you spend or earn money any other way, be sure to look at this too.

USACashMoney has some 7 budgeting tips for families raising kids:

1 – SAVE ON DIAPERS AND FORMULA.

There are too many ways to save on diapers and formula to count. One of the best ways is to buy generic brands if you can. Both Walmart and Target have quality diaper and formula brands you can try for huge savings over time. Of course, you can also try Amazon Subscribe and Save to get diapers delivered at a discount.

Buying in bulk can also help you save on diapers and formula. If you have a Costco or Sam’s Club membership, see if you can save by stocking up with each trip to the store.

Also, don’t forget you can use cloth diapers instead of store bought. You’ll save money and reduce landfill waste at the same time.

2- SAVE ON DAYCARE.

This tip comes from yours truly. My kids are 6 and 8 now, but I saved a bundle by avoiding the pricey daycares available in our city. Instead of going with a daycare center that would set us back $300 or more per week, I chose small in-home daycare centers run by people I trusted. I was happy with the care our kids received, and I felt the amount I paid over time was fair.

3 – BUY USED WHEN YOU CAN.

Remember when we talked about the outrageous costs of baby gear? The good news is, you can buy most of it used. You may not want to buy a used car seat unless it’s from someone you know and less than seven years old, but it’s totally reasonable to buy used swings, baby bouncers, and strollers. Buy from people you know, from Facebook groups, or from Craigslist, and you’ll save a bundle.

4- SAVING MONEY ON KIDS AGE 5-11

Saving on school-age kids isn’t an easy feat, but it can be done. And a lot of the tips for babies apply here, too. You can keep on buying used clothing for kids in school, either from consignment shops, people you know, or Facebook groups, for example. And if you’re able to avoid moving up to a huge house just because you have kids, you’ll save on housing costs, too.

Here are some of the best ways to save on kids when they’re out of diapers but not quite ready for high school:

6 – AVOID PRICEY KIDS’ SPORTS.

One of the most important ways we’ve saved on our children is by limiting their sports to one per child. They each take gymnastics right now, and this particular sport doesn’t require fancy uniforms or more than a few practices per week. Since there are no games or “meets,” we also save by not traveling or having to spend our weekends going to and from sports activities.

7- LIMIT DINING OUT.

Fast food or takeout can be an easy way to get dinner on the table when you’re busy running school-age kids around, says Jim. But that convenience comes with costs — to both your wallet and your health.

To save money and perhaps your children’s health in the future, make home-cooked meals instead as often as possible. For busy parents, you should have lots of posts on crock pot and freezer meals you can make ahead of time if you need ideas.

 

USA CASH MONEY

We offer a useful solution when you need to cover expenses and want to do so quickly and stress-free. Get the USACASHMoney Personal Loan, Payday, BadCredit Loans and borrow $5,000 to $40,000 to cover a variety of medical costs, including dental expenses, cosmetic surgery fees, and laser eye surgery.