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Topics: Student Loans ,

How can you be sure that your student loan debt has been correctly calculated? By verifying it! Jordan Goodman talks with David Ginsburg, president of Verify My Student Loan. 40% of student loans are estimated to have been incorrectly calculated.

● Variable rates, late payments, missed payments, and deferred payments can really complicate loan calculations

● Typical overcharges are $50-$250 per month What happens if mistakes are found? ● You may be able to lower future payments and receive a refund What’s needed to audit a student loan?

● Copy of the loan agreement, payment history, copy of recent loan statement What happens if overcharges are discovered?

● Verify My Student Loan will send the lender(s) a copy of the loan audits and refund letter

● Lenders usually accept the loan audit results and reduce future payments and/or issue a refund. If you’d like to learn more about auditing your student loans so you may be able to lower future payments and get a refund call 800-888-6781 or visit https://www.verifymystudentloan.com

As a personal finance expert, Jordan recognizes quality solutions, forming affiliate relationships to help improve people's financial lives.

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Topics: Taxes,

Are you ready for the BIG changes in W-4 forms? The IRS will roll out a greatly revised W-4 form in the fall of 2019 designed to greatly reduce both under withholding and over withholding. Starting with the 2020 tax year, the new W-4 form will ask you to input your total wage income from all the jobs you work at plus any wages from your spouse, if you’re married. Like before, you’ll list your filing status, such as single or married, and your number of dependents. What’s new and challenging is that you will need to estimate all nonwage income such as from interest and dividends that you expect to earn in a year as well as all estimated itemized deductions and tax credits. The silver lining to the more cumbersome W-4 is that your withheld tax should more closely match what’s actually owed. If all goes well on the day you file your taxes, you may come out both owing close to nothing and not getting a tax refund.

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Topics: Taxes,

Are you looking for ways to decrease the taxes you owe on investment returns? What about earning guaranteed returns tax free? Muni bonds, formally known as municipal bonds, are debt issued by cities, states, or other municipal entities, to fund projects. Tax free muni bonds are one of the only investments that offer guaranteed returns, usually paid twice yearly. Interest earned through municipal bonds is federally tax free and state tax free for residents of that state. So if you are a California resident who buys a California municipal bond or bond fund, you avoid both federal and state income taxes on all interest you earn from that bond.

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Topics: Taxes,

Where you shocked or surprised by BIG changes in your 2019 tax filings? You're not alone! Many people were quite surprised to discover that filing taxes has really changed thanks to the Tax Cuts and Jobs Act of 2017. Jordan Goodman, America's Money Answers Man, takes a quick look 7 BIG changes that are probably affecting you and your taxes.

#1: Tax rates on all 7 tax brackets were changed. Tax rates now range from 10% to 37%

#2: The standard deduction was doubled. A married couple can claim a standard deduction of $24,000 and a single individual can claim a $12,000 deduction.

#3: Itemized deducations were eliminated for almost 90% of previous itemizers because the standard deduction was increased so much. That means most of us can longer deduct mortgage interest, charitable giving, medical costs, business expenses, etc.

#4: The personal deduction was eliminated

#5: The deduction for state and local taxes was capped.

#6: The child care tax credit was doubled..

#7: The exemption for the alternative minimum tax was raised.

All of these changes mean it's probably wise to reevaluate your tax situation and make sure you're having enough but not too much withheld from your paycheck or pay in quarterly estimated taxes.

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Topics: Taxes,

Are you wondering where your tax deductions went this year? Probably yes! Tax deductions are very different this year thanks to the 2017 Tax Cuts and Jobs act. Many deductions you're used to taking are just plain old gone! Let's take a look at some of the major tax changes.

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Topics: Taxes,

Shocked that your tax refund is so much lower or even worse, that you owe money to the IRS? You are not alone! Tax refunds are significantly down for many people this year, bringing confusion and disappointment to many households. I want to explain how and why that happened.

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Topics: Banking,

Have you wondered what's the difference between a bank and a credit union - and especially which is best for you? Jordan Goodman, America's Money Answers Man, takes a quick 2-minute look at how credit unions and banks differ, the benefits each offer, and why you might want to check both out next time you need a mortgage, car loan or want to pay lower rates on a loan or credit card.

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How do you find the right credit card? Finding the ideal credit card for you depends on identifying what you value most. Do you carry a balance from month to month? If yes, then the right credit card for you is likely a low interest card. Is your goal to travel more or do you already travel frequently? Travel cards are incredibly popular and be very rewarding. Does cash back sound exciting? Rebate cards are very popular. Some rebate cards offer cash back on all purchases while others offer bigger rebates on specific types of purchases, like gas or dining out. Zero balance transfer cards might fit your needs if you are working to pay down an existing balance. Trying to get your first credit card? It takes time to establish credit and starting out with a secured credit card gives you the opportunity to build your credit score while having a credit card secured by a deposit.

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Who wants to work hard to build up savings in the bank and earn a pittance? No one! Jordan Goodman reviews the best ways to make your money make money in 2019 through online, higher interest savings accounts. Improve your rate of return for your savings account and earn money. Jordan recommends looking at online banks like Radius Bank, Marcus by Goldman Sachs or UFB Direct. All of these are FDIC insured for deposits up to $250,000. Another strong piece of financial advice by Goodman, America's Money Answers Man, is to explore using www.MaxMyInterest.com. For a small fee, Max My Interest will monitor your accounts and reallocate your savings into the highest paying account automatically.

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Topics: Banking,

Looking for a strong, low cost banking option? It may be that checkless banking is your best bet in 2019. Checkless banking, a growing product trend at banks around the country, allows you to do just about everything a regular checking account does except for use checks or cover overdrafts. If you can pay electronically then checkless banking could be perfect for you. Watch Jordan Goodman's short Money Answers Minute for great information that can help you decide if checkless banking is right for you.

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