Your Kid Has An I-Phone. Who Pays The Data Plan?

I’m pretty sure Apple can’t be hurting even though Steve Jobs is not at the helm anymore.   My kid’s went back to school last week and mentioned to meet the glut of Apple products that other students got from Santa Clause over the holiday season.    Apparently, even the elementary students stocked up on I-Pads, I-Touch, and the middle/high school students racked up on the I-Phones.     We all know that none of these technology gadgets are cheap to buy.    However, one of the topics that people don’t like to discuss is who will bear the cost for the data plan.  This is where the real dollars and cents add up over the long term. Parents will have varying opinions on this, but I’m of the opinion that when you child hits high school that you want to have them own part of the monthly data plan.  Each year that they get older, you should have them bear more and more of ...

Read More →

What will you do with 2% more in your paycheck?

If Santa Clause didn’t come down your chimney with anything good this year, Congress has decided to give you a stocking stuffer for the New Year.   With nearly 160 million workers that will benefit from the extension of the reduced payroll tax that passed just before Christmas, it’s time to figure out whether you’ll be naughty or nice with your gift.   The Temporary Payroll Tax Cut Continuation Act temporarily extends the two percentage point payroll tax cut for employees, continuing the reduction of your Social Security withholding rate from 6.2% to 4.2% of wages paid through February 29th, 2012.  (source: www.irs.gov) Of course, this is supposed to have no effect on your future Social Security benefits.  Yeah, right! If you weren’t aware, this payroll tax cut was in effect for all of 2011.   This means that for those who earned W-2 income last year up to your first $106,800 of waged income, you actually got a 2% pay raise in ...

Read More →