http://www.creditorweb.com/articles/categories/student-credit-cards.html
SUMMARY:
This article shows us it is so important to be well educated about student credit cards before applying for credit or making any other major financial decisions. Nowadays, there are becoming more schools which have begun cashless purchasing processes in the cafeteria. Therefore there is a variety of methods used to keep track of the purchases, from student ID cards that operate like a debit card to fingerprint systems. As we know that lots of credit cards designed for those college students. But a HIGH SCHOOL STUDENT can also apply of their own credit card!! There is the programs of 529 plan. This plan is a savings plan for saving towards future college costs and offers a variety of tax-advantages over other forms of savings. Families with children are opting to use credit cards with rewards that are tied into 529 plans.
REFLECTION:
My favourite chapter of the year is about the different using of credit cards. This article is about that people in different level of this society can apply for credit cards in many of the types. When you apply for and are issued credit, your signature on the credit application acts as your acceptance of the terms set forth by the issuing financial institution.
CONNECTION:
After I read this article, I know when the students who begin college or high school, they are bombarded with any number of offers and good deals. As a result, I think most of the students are interested in the student credit card. This idea can help student learn more about how to make the plans of their money. Other than this, students can try to enter their freshmen year of college are typically starting a new chapter in their lives, filled with hundreds of first-time experiences and opportunities. I have no way to find out the disadventage of applying a own student credit card for them.
2009-03-31
2009-03-10
Chapter 16's Blog
http://www.tax-tiger.com/Offer_In_Compromise.html
SUMMARY：
This article is about the new study which based on unpublished Internal Revenue Service data. That clearly shows the rich people who are different from others by paying taxes. They hide more of their income. The ones who has the income between $500,000 to $1,000,000 a year understated their adjusted gross incomes by around twenty to twenty-five percent. Compared to an 8% underreporting rate for those earning $50,000 to $100,000 and even lower rates for those earning less. During the past several years, the IRS has collected billions in back taxes from wealthy taxpayers but they didn't get a handle on the nature or extent of these shelters until years later and relied on tax shelter promoters' customer lists and special self-disclosure programs, not audits, to find most of the taxpayers involved. Nowadays, the government is suing UBS for the names of 18,000 wealthy Americans it believes may have had unreported Swiss bank accounts.
CONNECTION:
The reason why I choose this article is because Chapter Sixteen is talking about taxable earnings. In the article shows us that the rich ones who are paying the less tax to government but can get more income tax return.
REFLECTION:
I am quite impressed to find out that the rich people who have been paid $500,000 to $1,000,000 a year need to understated their adjusted gross incomes so high. I think that the income tax that everybody pay to government help this society a lot. But it is not understandable for me that the people have to take away their possessions from others. However, this won't be fair for everybody. In conclusion I think that will be keep our community get better if everyone has given a part of their money but people are losing their money by paying the higher tax.
SUMMARY：
This article is about the new study which based on unpublished Internal Revenue Service data. That clearly shows the rich people who are different from others by paying taxes. They hide more of their income. The ones who has the income between $500,000 to $1,000,000 a year understated their adjusted gross incomes by around twenty to twenty-five percent. Compared to an 8% underreporting rate for those earning $50,000 to $100,000 and even lower rates for those earning less. During the past several years, the IRS has collected billions in back taxes from wealthy taxpayers but they didn't get a handle on the nature or extent of these shelters until years later and relied on tax shelter promoters' customer lists and special self-disclosure programs, not audits, to find most of the taxpayers involved. Nowadays, the government is suing UBS for the names of 18,000 wealthy Americans it believes may have had unreported Swiss bank accounts.
CONNECTION:
The reason why I choose this article is because Chapter Sixteen is talking about taxable earnings. In the article shows us that the rich ones who are paying the less tax to government but can get more income tax return.
REFLECTION:
I am quite impressed to find out that the rich people who have been paid $500,000 to $1,000,000 a year need to understated their adjusted gross incomes so high. I think that the income tax that everybody pay to government help this society a lot. But it is not understandable for me that the people have to take away their possessions from others. However, this won't be fair for everybody. In conclusion I think that will be keep our community get better if everyone has given a part of their money but people are losing their money by paying the higher tax.
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