Evangeline Giron

Understanding medicare

Sunday, 01 November 2009 22:15 Evangeline A. Giron

AS Americans live longer than ever, Medicare is probably the most popular of all health insurance programs. Medicare is a health insurance program for people age 65 or older, people under age 65 with certain disabilities, and people with end-stage renal disease (permanent kidney failure requiring dialysis or a kidney transplant).

The original Medicare has two parts: Part A - hospital insurance- which in most cases were paid by most people through their payroll taxes when they were working and Part B- medical insurance-which is paid monthly by the insured.

All about Required Minimum Distributions (RMDs)

Monday, 26 October 2009 19:48 Evangeline A. Giron

MOST qualified retirement plans offer significant tax benefits for those willing to follow a few IRS specified rules. The government wants to make these plans- (401(k)s, Keoghs, SEPs and traditional IRAs) - available for specific needs, and has established tax law to help eliminate potential abuses of these tax advantaged investment alternatives.

Retirement plans are intended for retirement

For one thing, the government wants to make sure that such savings (and income tax benefits) actually go towards providing retirement income. Stiff penalties for early withdrawal help encourage investors to reserve their qualified plans for use during their retirement years.

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The pros and cons of filing for bankruptcy

Monday, 12 October 2009 19:29 Evangeline A. Giron

YOU may have a stack of bills every month that you can’t pay. The late fees are piling up and high credit card balances with outrageous interest rates don’t help your situation. As you look at your finances, you realize that bankruptcy may be a good solution for you. Even if this is where you are financially, you shouldn’t file for bankruptcy until you’ve weighed the consequences associated with bankruptcy.
Weigh the consequences of bankruptcy by meeting with a credit counselor to review your assets and liabilities. Credit counselors go over the pros and cons of bankruptcy and recommend what they feel is your best course of action.
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Tax filing extension due on October 15

Sunday, 04 October 2009 23:23 Evangeline A. Giron

FOR quite a few taxpayers who have deferred on filing their 2008 income tax returns, the deadline is just by the corner. The most prudent action would be to file your income tax return before the October 15th deadline to avoid additional penalties and interest owed.
Remember, your tax payments would have been due on April 15th, whether or not your tax forms have been completed or not. If you filed an extension, ensure that you remain compliant with the extension deadline. Yes, interests will be assessed but they’ll be much less than if you would have to pay on additional penalties and interests should you file beyond the extension date allowable.
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Yes, your cancelled debt through foreclosure can be forgiven

Sunday, 20 September 2009 22:25 Evangeline A. Giron

IT’S probably the cliché of our economic times: foreclosures and short sales one after the other have triggered too many sleepless nights among honest Americans who were trapped into mortgages which were designed to be too perplexing for the average Joe to fathom.
IRS Publication 525 explains, "Generally, if a debt you owe is canceled or forgiven, other than as a gift or bequest, you must include the canceled amount in your income."
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Page 1 of 9

Asian Journal- The Filipino-American Community Newspaper

Evangeline Giron

Understanding medicare

All about Required Minimum Distributions (RMDs)

The pros and cons of filing for bankruptcy

Tax filing extension due on October 15

Yes, your cancelled debt through foreclosure can be forgiven

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