All about handling your finances while deployed and protecting your money from scamsters
May 26, 2005 -- Military seats and treats
If you are flying first class or business class on an airplane, think about giving your seat to a traveling soldier. Our military troops are voluntarily putting their lives on the line for us. Show them your appreciation by offering them a nice seat. Also, Clark wants everyone, not just the military, to know about the IRA Saver’s Tax Credit. The credit is available, this year and next year, to anyone who qualifies financially. The federal government will match whatever money you put into a retirement account. Qualifications for saver’s credit are: for single, income must be less than $20,000; for couple, income must be less than $50,000; for head of household, income must be less than $37,500. Depending on your income, you can get matched dollar-for-dollar, dollar-to-20 cents, or dollar-to-10 cents. You receive the money from your savers credit when you file you tax return.
Apr 04, 2005 -- Banks breaking laws regarding military
Every once in a while, Clark reads something that makes him crazy. Would you believe that men and women in the military are coming home to find their homes foreclosed on and their cars repossessed – all in violation of federal law. Soldiers and sailors suffer severe financial hardship when they are called to duty for extreme periods of time and can’t make regular wages. In response, banks have been foreclosing on their homes and getting judgments against them. Military folks are coming home and finding their possessions gone. The law does not permit this! Military personnel cannot have their home or car taken, or have judgments made against them, while serving the country. And that’s just the start of it. Clark thinks the banks need to be punished, and one great way would be to stick the executives in the middle of a war zone. Congress needs to step in and remind the banks. In the meantime, do what you can. If you work for a bank, you may not know this is going on. But you can help our servicemen and women by reporting the bank’s actions.
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