myfinanceblog.com

Yahoo Finance reports on the “Tax Relief and Health Care Act of 2006″

Uncle Sam gave Americans an early Christmas gift when Congress passed the “Tax Releif and Health Care Act of 2006″ on December 9th.

Some of the highlights of these tax breaks include
- Deduction of sales taxes if they exceed your state taxes. This is great for people living in states with little to no state tax.
- A $250 deduction for teachers on out-of-pocket classroom expenses
- Up to a $4,000 deduction on college tuition for middle income households.
- Itemized decution of mortgage insurance.

Note: This law was passed after the IRS deadline for printing 2006 tax materials so there will be nothing on your 1040 to let you know about these. For more
information, click here.

I registered a new domain tonight, GolfGadgetry.com.  

I’ve always been amazed at the number of golf training aids out there that people buy. Just make a visit out to Golf Galaxy or watch the Golf Channel late at night and you will see my point.

The marketing people behind these products are brilliant and know their audience. As someone that struggles with the game of golf, these products can be addictive. 

“If only I owned that dual hinged practice iron, I would be on the pro-tour. It cant really be my lack of athleticism can it?”

I’m debating between two options right now for this domain name.

1. Setting up an e-commerce site. Ideallly, I would identify some suppliers that would support a drop ship process, so I wouldn’t need to carry inventory. I would carry an assortment of various golf gadgets (training aids, putting matts, etc.)

2. The second option is to develop a content based golf gadget review website and hopefully generate revenue off of affiliate ads and Google Adsense.

Option #1 is vastly more ambitious, requires a lot more work (setting up a tax id,getting a merchant account, finding suppliers etc.) At this point I am leaning more towards option #2. (I still have a day job)

Post your comments and let me know what you think!

Ever wonder why your mailbox is flooded with credit card offers?

Under the Fair Credit Reporting Act (FCRA), the four major credit unions(Experian, Equifax, INNOVIS, and Trans Union) are allowed to sell your personal information to crediters and insurers.

If you would like to “opt-out” of receiving unsolicted credit card offers visit OptOutPreScreen.com. By filling out an online form, you can opt yourself out of receiving credit card offers for a period of 5 years.

I will be posting non finance related links and articles from time to time on this blog. Here is my first… 

NBC has recently launched a website to promote the launch of “The Office: Season 2″ on DVD. Check it out and have a message from Dwight sent to your phone.

Prosper.com is an online marketplace for people-to-people lending. Think EBay meets the lending industry.

Interesting idea from this San Fransisco based startup. I’m considering making a few small loans to individual borrowers over the next couple of weeks to try it out. I will report back here on my experience.

Hello All, My name is Tim, join me as I blog about personal finance from the perspective of a young professional.

I started this blog for two reasons….

#1 A passionate interest in personal finance, and a desire to share with others.
I think one of the greatest problems facing our nation today is a lack of fiscal responsibility.  Budget deficits, credit card debt at an all time high, the failure that is social security, and the fact that the majority of baby boomers do not have enough money in savings to retire. I hope my generation can turn things around, and I hope I can positively affect others by sharing my knowledge and insights on personal finance.  

#2 Curiosity, can a regular guy really make money online part-time?
I will be blatantly honest here, I am also interested in seeing if I can make money through blogging and other online ventures. Visit back often as I report my progress, what works/what doesn’t etc.

My posts will focus on
- financial product and service reviews
- Legitimate ways to make money outside the 9-5, focusing on the Internet.
- News, money saving tips, and editorials.
- Updates on my progress