Owing Money to the IRS: Can They Really Do This To Me?

I just prepared my tax return and owe the IRS.  I don’t have the money to pay and I can’t sleep from worrying about what could happen next.  Can the IRS take my paycheck?  Can the IRS put a lien on my house?  Can the IRS take money from my bank account?  Can the IRS close my business?  These are the typical questions people ask when faced with unpaid taxes.  Can the IRS really do this to me?  The answer is ….Read More »

Borrowing your way out of debt – another fatal financial misconception

Exchanging one form of debt for another is a fatal financial decision.  You cannot borrow your way out of debt, period.

I just heard another commercial from an area mortgage lender encouraging home owners to refinance their homes and take out equity to payoff credit card debt.  Sounds like a great idea right?  Get rid of credit card debt?  No brainer.  Not so fast.  First, you better be sure risking your home for a Visa card bill is for the right reasons.Read More »

Financial stress during the holidays

For many people, this time of year is a time of joy and thanksgiving.  For others, the holidays are a source of stress.  Everyone may suffer the stress of what picture should be on the Christmas card or how many people are coming for holiday dinner.  However, for many families, the stress of the holidays is much more.  How can we afford to give my child the present on their list to Santa?  How can we afford to buy enough food for our holiday meal?  The pressures we place on making the holidays special create an incredible amount of strain not just on your wallet but your emotions too.Read More »