Yes, Even a Reputable Dentist Can Commit #IDTheft From Right Under Your Nose

This story will puzzle you — because it's ludicrous. Absolutely ludicrous. But it DID happen. And, luckily, the damage was minor, but this prove to you just how unexpected identity theft can be. You don't have to be a real "criminal" to commit to it.

You can be Dr. Richard Ludwig, a dentist making upwards of $4MM and with $250 in cash in pocket; yet this genius was absolutely dumb enough to steal a poor man's credit card accidentally dropped onto a parking lot after leaving the site and use it buy $40 worth of pizzas.

Of course, the unsuspecting victim found out that he was missing his credit card and then reported the plastic stolen. Yet the credit card company notified him that the card was already used. Needless to say, the victim reported the crime to the authorities and the cops showed up at the pizza place to find the dumb dentist Ludwig still waiting for his pizzas to bake.

Ludwig was apparently charged with three felonies, a consequence that could land him in jail for up to 15 years. All of that for just $40 worth of pizzas.

And he honestly could've paid for them himself!

8 Identity Theft Stories That’ll “Awaken the Force” in You

By now you’ll agree that the saga that is Star Wars is itself a number of identity theft stories rolled into one. That should tell you something!

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The 529 College Savings Plan: Benefiting Taxes and Education

Posted by wpadmin | Posted in Finances, Taxes | Posted on 12-01-2016

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Talk about killing two birds with one stone: the 529 college savings plan, operating very much like a retirement plan, not only saves up some on the expense for college later on life, but cuts down on your taxes over time. A nice little tax shelter benefiting you in the long run and ensuring your kids get the quality college education they deserve.

But How Does the 529 College Savings Plan Work?tax return-1

Also known as qualified tuition programs (QTPs), the way contributions work for these types of plans is that it allows you to defer your taxes. All your contributions to these ‘accounts’, if you wish to call them that, are tax-free. It, therefore, means that when it comes time for your budding college student to leave the family nest and venture out into the unknown, you can pull the funds out and not pay any federal tax for the tuition costs, room, and board. Even better is the benefit that you most likely won’t even have to worry about any state tax if the beneficiary, your child going to college, sticks with a university that’s in the same state. Like we said: killing two birds with one stone, education and finances.

This ultimately saves you on the taxes, as a veritable tax shelter, cutting down with these beneficial credits. Plans do vary, so sign up with the Income Tax Planning Network right away and then consult your ITPN specialist to see what your options are. You may have a variety of lifetime contribution limits, some ranging around $200K, so crunch your numbers and see what you’ve got.

Because the Future of Your Child’s Education Ultimately Revolves Around Your Future Finances

Click here for more information about other tax shelters you can take advantage of, plus some information about tax advice when divorcing, or other business tax write-offs you need to know about. Remember: information is power. Planning is power. And here’s where you get a bunch of it.



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