A Million Lives

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Avoid Commission and Sell a Home Yourself

Whether you’re straight out of college and ready to move out of the house, or simply looking to relocate yourself, house hunting can be a stressful and lengthy process. Just when you thought you’ve found the perfect home for the perfect price, commission fees are taken out, leaving you with significantly less spending money than before. There is a way to avoid this though.

In recent years, people have begun creating their own prices, marketing their own property, and selling their own homes. While this may seem to be even more stressful than the initial process, becoming your own realtor is actually a pretty manageable operation thanks to the real estate companies that have allowed it to be.

When you really look at it, all a realtor does is:

  • List your home through the Multiple Listing Service (MLS)
  • Market it through advertisements
  • Host and schedule showings
  • Help with negotiations

Of the four items listed, the only thing that may strike you as most unachievable is the MLS listing. Not too long ago, though, some real estate firms have started offering a service that allows you to do this yourself.

With all these resources so easily available to you, why would you ever risk losing out on that extra commission cash again?

How exactly do I start the process?

1. Determining a Price

 

 

After making the wise decision of undergoing house sales yourself, you must settle on a listing price. This price can be determined based upon a variety of factors, including:

  • The supply and demand of houses at the time that which you sell it
  • The status of the economy
  • Interest rates
  • Demographics of the neighboring communities
  • Overall location in regard to entertainment, restaurants, and public facilities

 

2. List it on the MLS

 

Following the determination of the houses worth, it must be listed through the Multiple Listing Service (MLS).

The MLS is a suite of about 700 regional databases, each with their own listings. This is the place where which agents pay to be able to catalog homes on the market. If you’re looking to sell your home yourself, you’ll have to pay the flat fee to have access to it.

3. It’s All About the Advertisements

 

Once you’ve listed it, word of a sale will need to make it out into the world. This can be done via the internet, signs, or even brochures. As more people gain notice of your home and its great surrounding features, you’ll want to begin hosting open houses.

An open house is simply a viewing of the interior of a house being sold. They can be kept plain and simple, or spiced up with some snacks and refreshments.

In order for an open house to go well, you must really be aware of your property’s strong points. This will enable you to verbally highlight and emphasize why someone should buy your home. 4

4. Prepare and Perform Open Houses

 

 

The open house is one of the most crucial parts of the whole process. The main idea is allowing the image of your home to develop as the perfect place to live in the mind of those who come to view it. You want them to see themselves living and growing their lives there.

In order to do this, a thorough deep cleaning and decluttering must be done. You should strip your furniture and decorations down to the bare minimum so that viewers are able to imagine their own belongings instead.

5. Begin Negotiating (legally of course)

 

 

Negotiations will take place in the form of contracts that are sent to sellers, who can either accept, reject, or revise the offered amount. Contracts will keep being administered and altered until both sides agree.

If you’re unsure as to whether an offer is good or not, you should consult an attorney or real estate agent that won’t require anything other than a flat fee.

6. Finalization

Through each of these steps, all the way up until the end of negotiations, it is imperative that ensure all actions made are completely legal, not only in the U.S but also in your state specifically.

If you do decide to have things reviewed by an attorney or real estate agent, they will likely let you know of any misconduct that could have occurred. For your own safety and well being, check out your state Real Estate laws before conducting any step in the process.

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Surprise your relatives in the United States

United States of America is a land of immigrants, who have travelled there to reach for the American Dream. Some of those very Americans are our relatives, we talk to them on Skype, share our memories and photos, sometimes visit each other during vacations, yet we feel like there is something missing. That is, celebrating holidays together. It is of course best when we are able to see one another during these special moments, alas, often the circumstances pertaining to our lives prevent us from doing so. Nevertheless, we should not forget our loved ones when they need us most. Whether it’s during birthdays, weddings or Christmas, we always have the opportunity to send presents to them, in order to surprise ones we care about at just the right moment. I will share with you some of the key points you should know, before expressing your affection across the ocean.

Take great care of the packaging

This should be self-explanatory, however you would be surprised of just how often valuable gifts are bundled into ill-protected containers and are damaged during their journey to the recipient. It can be truly upsetting for your kinsmen to receive a present from you, only to discover after opening it, that it has been ruined. In order to avoid such mishaps,make sure you use double-corrugated box and sufficient amount of duct tape, so that the contents can be secured. If they’re particularly brittle, do not be avaricious and invest in a triple-corrugated box and some foam, these should guarantee the items safety.

Be prepared to ship items in advance

As you are aware, there is an entire ocean between Europe and America. What this means in practice is that it takes time to deliver packages there, especially during the holiday season, that is because many others are doing the same thing and delivery companies are struggling to cope with demand. Too often do we hear about presents arriving after the celebrations have passed. If you wish to insure yourself from such occurrences, arrange your gifts early and send them days in advance.

Choose the right service for your delivery

Sometimes the joy of gifting is spoiled by sloppy work of courier services, which require from you to deliver packet to particular location for it to be picked up, struggle to explain delays in delivery time, refuse to provide insurance for your items, so on and so forth. That’s why it is especially important to take your time to search for responsible courier, willing to go the extra mile to meet your demands. Try to find a reputable provider offering door to door delivery, free insurance, parcel tracking and easily accessible customer support to deliver your parcel to USA without any hitches!

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Can You Really Make Money with Paid Surveys

As someone extremely interested in supplementing the current income, without having to spend 10 to 20 hours a week on another job, I’ve started researching the ways of making money online. The most frequently suggested method – blogging – is not my cup of tea. Starting a blog from scratch requires some serious effort and it takes years before you start making money from it; the time I don’t have on my hands. As far as I’m concerned, what seems to be the best method is filling out online surveys. Why? Apart from not requiring any special skills or knowledge, this method gives tangible results in a short time.

How do online surveys work?

All those articles we come across on the Internet and in magazines that contain statistical data rely on paid surveys to get their statistics. The results of surveys are also used for marketing purposes in various ways. Companies want to know how their customers think, which products they need or like buying, as well as which ones they want to avoid. Some firms even send the results of a survey to journalists hoping the name of the firm will be mentioned in an article. Their objective is to attract greater publicity that will boost the sales and improve the firm’s reputation. What most businesses have in common is that they rely on professional survey companies in order to collect data; and, this is your chance to get paid for online surveys and generate some extra income. These survey companies create a database of users and then contact the appropriate respondents for each questionnaire, offering money in return.

How do you actually make money?

Many of the articles I’ve read online claim that money can be earned, but let me elaborate. While filling out surveys cannot replace your regular earnings, it can certainly supplement them. If you are happy with your salary, there’s no need to bother with this method, but, if you are below the median household income, the completion of surveys is surely the path to pursue.

One of the advantages of paid surveys is that it is one of the most reliable methods of making a profit online. The process doesn’t require any special skills or knowledge and it doesn’t take much time, so it can easily be done in your spare time.  All you have to do is answer a series of questions and express your views on certain products or services, depending on the type of company which has ordered a survey. As each survey company offers a finite number of questionnaires at a time, make sure you sign up to more than one survey site. By doing so, the surveys will be available to you on a daily basis and you will increase your chances of earning extra cash. In most cases, you will start receiving e-mails as soon as you sign up for a company, so you might consider it a good idea to create a separate e-mail address solely for this purpose.

Payment methods

Each survey varies in length and compensation – it takes between 5 minutes to half an hour to complete one and the average payout ranges from $ 0.5 to $ 4.00. Before signing up to a paid survey site, check out their method of payment. Some pay by PayPal, others by Amazon Vouchers. With most sites, before being able to redeem points or cash, one first has to reach a certain threshold. The truth is that in some cases you will be able to claim the money right away, while in others, you will have to wait for months before you collect a certain number of points and see any cash. If you go for surveys which pay by vouchers, check the expiration date, as some vouchers are valid for less than 6 months.  Some of the best paid survey sites include I-Say, Swagbucks, MySurvey, OpinionWorld, Crowdolog, Valued Opinions, etc.

The truth is that one can really make money from paid surveys. Maybe that amount of money cannot substitute your nine-to-five job, but it will certainly boost your monthly earnings. What makes this method of earning money online so appealing is that it can easily become a reliable source of regular income.

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Tips On Saving and Investing Money For Your Retirement

The formula for accumulating enough wealth to retire comfortably is fairly simple: Learn how to earn more, spend less, save consistently, and invest wisely.

But just because something is simple, it doesn’t mean it’s easy.

Even those who have learned how to earn more struggle to control their spending. Then, only the few who manage to control their spending can begin to save. And, finally, it’s only those who have sufficient savings who have enough capital to invest in commodities like gold bullion.

Since the road to wealth consists of navigating across four roads—earning, spending, saving, and investing—let’s take a closer look at what toll price you have to pay for each road.

Earning More

The way to earn more is to learn more. When you know your job better, when you understand its breadth and scope, its pitfalls and potentials, you can add more value.

If you work for someone, your learning adds more value to your employer. As a result, you are likely to be promoted and advance in your company. If you work for yourself, then you add more value to your business. As a result, you are likely to get more customers and make more sales.

Learning more can be done in a number of different ways. You can learn on the job, noticing what works and what doesn’t work, then decreasing what doesn’t work and increasing what does work.

You can also learn through formal and informal ways. Formal learning consists of taking professional classes. Informal learning consists of self-study.

Spending Less and Saving Consistently 

Spending less and saving more usually work together. There is no point in spending less if you’re not going to open up a savings account. Spending less starts with noticing where your money goes and finding free or cheap ways to achieve the same goals. The next step, of course, is to control your spending by budgeting. This, you should be warned, is not easy. With the ever-increasing cost of living, it’s always difficult to live below your means.

Still, with effort and persistence, it’s possible to finally figure out how to create a realistic budget, which is one that works most of the time. Of course, your success with spending less will automatically leave you with surplus money, which you can then start socking away into a saving’s account.

Investing Wisely

At a certain point, you will have enough saved to begin investing. This, the last mile of your wealth-building journey, is usually the hardest.

Here are four major difficulties you will encounter:

  1. Deciding what type of investments to specialize in. For instance, should you buy commodities or American gold eagles? There are numerous ways to invest and it can be a little bewildering figuring out where to start.
  2. Let’s say you decide to learn how to trade in the equities market, then the next question to ask is where you can learn how to trade. While some stock market training courses will be taught by people with a genuine interest in sharing their knowledge, others will be taught by charlatans.  How do you avoid getting scammed? It may be difficult to decide who is telling you the truth.
  3. Yet even after you’ve found an honest teacher and become good at paper trading, you’re not entirely out of the woods. You now have to figure out what brokerage to trust. Again, you’ll find some fair and honest people and others who are just pretending to be interested in your success.
  4. You have one last obstacle—your own emotions. It doesn’t matter how much you know about trading, you will still have to deal with strong and conflicting emotions. One emotion is the desire to avoid the pain of loss while the other is the desire to rush toward pleasure. Over time, you must gain sufficient emotional intelligence in investingto make increasingly better decisions.

In conclusion, think of wealth as a journey. Navigate each sector of the road well to get to your final destination. The toll you have to pay along the way will be worth it.

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Barry Bulakites on How to Find The Right Accountant

So you have made the decision to get an account for your small business, but how do you go about getting the right fit for your needs? Not all accounts are the same, some will do a better job, others will mesh better with you, and of course, some are more expensive than others. We spoke to financial wizard and high level accountant Barry Bulakites, on what you need to ask yourself ahead of looking for an accountant. As Barry says, only once you understand what you are looking for, can you begin the process of getting the right person for the job.

Is Location Important ?

The first thing to think about is how important it is to you that the accountant lives or works nearby. We live in a world now where our financial reports can be stored and access from a cloud-based system, we can hold meetings through Skype or other video calling options, and we can constantly stay in touch through messenger services and emails. There are some businesses however who may need to see the accountant physically, or some owners who simply prefer this option, consider this first.

What Are You Looking For?

Some accountants can be a Jack of all trades, others may focus on individual aspects of the company accounts, you need to think about what exactly you are looking for in an accountant. For example many people simply want to use an accountant to clean up their books and add al little more organization to proceedings, others may seek out an accountant to offer financial advice on growth and investments, and some will want their money to work harder for them. Once you understand exactly what it is that you are looking for, the process becomes far easier.

Tax

At the very least you need to be looking for an accountant who completely understands the work do taxation. Even if everything is above board with your taxes, it makes sense to have  an accountant who, regardless of their speciality, can help you and the company to stay in line with its taxes, and ensure that you are paying the right amount, and saving where possible.

Is Reputation Important?

The strength of an accountant’s reputation will directly relate with the amount that they are charging per hour, and you need to decide whether or not you need the very best, or would you be prepared to take a chance on a rookie. This is not to say that a rookie is unqualified to do the job, it simply means that they can’t call on a long track record of success. Everyone has to start somewhere and there is no issue with looking for someone who is a little less experienced. Alternately if you really want to place your trust and your money in someone, perhaps an experienced accountant may be the better option.

Answer these questions and then go get that accountant for your business.

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Patrick Dwyer Financial Advisor on 2018 Miami Football

Miami continues to be a fun, sophisticated city — boasting the sort of infrastructure, commerce, and amenities you’d be hard-pressed to find anywhere else in the nation, except unless we’re talking New York, San Francisco, or Los Angeles.

Patrick Dwyer Financial Advisor sees the long-term potential of both Miami football and the city of Miami itself. As the sun continues to shine on Miami’s athletic teams as well as its real estate, so will it continue to shine on Miami’s citizens who are focused on building their wealth and value.

oday, however, we’re here to talk about one of the most storied college football programs in the country (and in NCAA history, for that matter) — The Miami Hurricanes, a team focused on continuing to build their value and prowess in the NCAA.

Ranked 4th on the all-time list according to Associated Press National Poll Championships, “The U” is tied with both USC and Ohio State — all of which nipping at the heels of other storied names like Alabama, Notre Dame, and Oklahoma.

Miami football in particular distinguishes itself by holding numerous NFL Draft records — most notably holding the record for most first-round selections in a single draft, as well as holding the record for most consecutive drafts with one or more first-round selections. Beyond this, there are 2 Hurricanes who have won the holy grail of personal achievements in NCAA football — the Heisman Trophy (one in 1986 – Vinny Testaverde at quarterback, and one in 1992 – Gino Torretta at quarterback). Also, 9 Miami players currently grace the College Football Hall of Fame.

Miami is also known for generating great linebackers, names like Jonathan Vilma, DJ Williams, and Ray Lewis — just to name a few, many of which serve as mentors for Miami’s current and incoming players.

The Hurricane linebacker legacy spans decades, reaching all the way back to the 70s, culminating in The Bermuda Triangle (Michael Barrow, Darrin Smith and Jessie Armstead), capturing multiple national titles before heading off to NFL stardom.

What Miami should be very excited about for the coming season is this year’s possibilities for their secondary.

Many are fixated on what many consider will be the strength of this team: defense. Miami knocking at the door of all the elite defensive units in the country with a cornerback group that brings a unique blend of talent to the table.

Miami’s secondary is both made up of veteran experience as well as youthful optimism, highlighted by All-ACC cornerback Michael Jackson. This exciting senior has a legitimate claim to distinguishing himself as the best cornerback — not only in the the state of Florida, but also the Atlantic Coast Conference.

Only time will tell as the season commences and runs its course. One thing is for sure: the future is bright on all counts in Miami.

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Promoting And Selling Your Business USP

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Selling off your business can be an exciting time, especially if you have spent many years building it up into something potentially lucrative that can net you a nice return when you sell it on. Finding a unique selling point to market your business to potential buyers can be difficult, but it doesn’t have to be. #SellingYourUSP is one of the key ways to market any business and will help you stand out in the crowd and separate yourself from the competition. Hiring an organisation such as BCMS is a great way to reduce the stresses associated with the sale, handing it over to professionals who are trained in this kind of thing.

So what are some great USP’s that you could focus on when selling your business? Read ahead to learn more.

A Good Financial Background

Just like no one wants to bet on a losing horse, no one wants to buy into a losing company. A company or business with a history of poor finances or financial issues is far less likely to sell than one with a sturdy financial background. Likewise, if you have a portfolio with impressive financial growth on display for potential buyers, it looks even better and can act as something that really sets you apart from potential competitors.

Existing Clientele

No one really wants to buy a new business and start getting to work immediately to rake in the customers. Purchasing a business with clientele already in place is key to anyone who wants to make a purchase, just as it is for anyone who wants to make a sale. Make it as easy as possible for your new business owner to hit the ground running by already having a great client base in position so they can hop right into the driver’s seat and not have to worry about chasing customers. Repeat and loyal customers who have been using your business over a period of years is even better!

The Only Way Is Up

If you have some seriously great forecasts for growth, this will help attract potential buyers and will really help sell your brand and business as a real winning investment that people should consider getting in on. If you have issues with growth, it can look really bad to investors and potential buyers and you might struggle to drum up interest.

Stellar Management

A management structure and background that makes people want to work for you is key to having a booming business. Training and retaining staff can be a huge drain on finances for even the biggest, most efficient businesses, nevermind a small fledgling company that is going through an ownership change. Having management that makes the business better is key to creating the kind of business people are proud to be a part of.

So there you have a couple of great USPs that you can consider promoting to help sell your business to a new owner. Pick the one or ones that work best for you and your company and go from there with the promotion. Check out the infographic below for more great information! Good luck!

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7 Tricks for Quickly Paying off Your Debt This 2018

Debt is a horrible thing that anyone can easily fall into. If you don’t quickly get it under control, you could find yourself dealing with a lifelong problem that you never actually escape. Regardless how bad your debt situation currently is, you can take advantage of the following tricks to significantly put a dent in your debt and pay it off sooner.

  • Create a budget and prioritise spending

By creating a budget for the month, you can prioritise your spending and minimise your expenses. By cutting your monthly expenses, you will have more money that you can put into gradually repaying your debt. You can use mobile apps such as B to effectively monitor your monthly income and expenses. Simply put, no more unnecessary spending.

  • Pay off worst debts first

The worst debts aren’t necessarily the biggest ones. In fact, the worst debts and the ones you should try to get rid of first are the ones with the highest interest rates. The sooner you can get rid of your high interest rate debts, the sooner you can stop falling into worst debt.

  • Pay more than the minimum balance

Debt repayment arrangements often offer the option of you paying a minimum balance per month. Paying only the minimum will slow down your debt recovery process. To get out of debt as fast as you can, pay as much as you can afford when due.

  • Ignore your credit card

Even if your credit card comes with low interest rates, just put it aside until you are done with settling your debts. This is because each time you use your credit you are only accumulating more debt. So don’t take your credit cards with you when you go shopping, and if you want to be drastic, destroy your credit cards. You can start using credit cards again when you are in the green and have your finances under control.

  • Put work bonuses or other cash windfalls toward debt.

If you suddenly receive a cash windfall or get a bonus at work, be wise with it and spend it on something like settling your debt. Don’t take the cheque out to celebrate or splurge because there’s nothing to actually celebrate till you are out of debt. Sudden financial windfalls can help you put a serious dent in your debt and move closer towards being clear

  • Delete credit card information from online stores.

Clear your credit card information from online stores. Stored credit card information can be used to charge you for services you don’t necessarily need. Instead, shop with a debit card.

  • Sell unwanted gifts and household items.

If you have gifts or other items that you don’t actually need or can do without, sell them off to raise extra cash that you can put towards settling your debt. You can sell your items conveniently via eBay or Craigslist. Remember that the faster you clear your debts, the better.

So that’s our list of tricks to help you settle your debts faster this year. But bear in mind that even if you apply these tricks diligently but fail to change your spending habits and how you view money, it won’t make much of a difference. You need to make changes by learning how to cut back on expenses without necessarily compromising the quality of lifestyle you prefer.

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Simple Tips for Investing While You are Still in College

It’s never too early to start investing, even if you are still in college. Unlike a professional investor, you may not have near unlimited amounts of capital, however, you can start investing with just a dollar using a few different methods. To become more financially literate in the field of investing, take up an economics or finance class, where knowledge is always a key to becoming a successful investor.

Open a Savings Account

The easiest way to invest as an undergraduate is to head to the nearest bank and open a savings account. The risk you take on would be extremely minimal. Put any supplemental income you earn in your savings account and watch your money grow quite literally. The interest rate is not as high as in the stock market, but your money would be better off than spent on new clothes or stored away in a drawer.

Understand the Risk Associated with Cheap Stocks

Some college students are only too eager to “play the stock market.” Students with limited amounts of capital are highly likely to invest in penny stocks, which are securities with little to no oversight that cost less than $5. Though these stocks seem so cheap to buy, you are taking on more risk than you should. Before buying any stock, particularly penny-grade stocks, it’s advised that you understand the type of risk you are undertaking. This type of trading is highly vulnerable to scams, particularly pump-and-dump schemes. College undergrads should invest in blue-chip stocks that are financially transparent to actually expect returns. While there’s nothing inherently wrong with low-end stocks, buying these without realizing the risk is a surefire way to lose all your money.

Think about Repaying Your Student Loans

Paying down debt is also a form of investment. It is, perhaps, one of the most important forms of investment for regular income earners. Unless your parents are wealthy, you will probably end up tens of thousands of dollars in student debt when you leave campus as a graduate. The student debt trap affects millions of graduates. However, you don’t have to fall into the same debtor crisis like so many others. If you earn income right now by working on-campus or at an internship, save that money for repaying your student loans. The grace period will eventually end, at which point you will have to own the debt. Think about how it might affect your future ability to take on other essential forms of debt such as a mortgage, therefore, make repaying student loans a priority to protect your post-graduate financial status.

Open a Retirement Account

If you are a young college student looking forward to a satisfying career, you may wonder why you should start investing towards retirement right now. Would your future employer take care of all that with a 401(k)? Yes and no. You can formally start investing in your golden years by matching your employer’s contributions toward a 401(k), however, until you are employed full-time, invest on your own towards retirement. You could do so in a savings account that you can later combine with an IRA or a 401(k). The reason to start this early is simple: the compounding factor. If you invest towards your retirement now, your contributions would mature impressively in the next 40 to 60 years. The longer the investments have to compound, the more money you will have to spend in your senior years. That’s why you should open a retirement account right now, even if you are not formally employed.

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5 Ways to Save Tax under Section 80C

Filing income taxes can pose a problem for people who do not understand exemptions. First time employees may find the income tax rules pretty complex. However, if the income tax filing exercise is once undertaken then the format becomes clearer and changes in rates and slabs just fall into place. Income tax filers should not definitely miss out on the exemptions under section 80 C.

Under section 80 C Income tax payers (individuals and HUF) can claim a tax exemption up to Rs 1.5 lakh and an additional Rs 50 K exemption under section 80 CCD (1 B) is available for tax payers who invest in government notified pension plans which include the National Pension Scheme and Atal Pension Yojna at present.

It is recommended that maximum exemption should be availed against those items which have direct bearing on the income tax payer benefit and this could differ. For example a person who wants to purchase a home would most benefit from exemption on home loan principal amount whereas a person who wants to build a retirement corpus would most benefit from investing in long term savings scheme and pension plans. An individual may have more than one tax saving preferences. For a complete list of exempted items under section 80 C tax payers can refer IT department website. Let us see the five major exemptions which tax payers can avail from section C of the IT Act.

  1. Exemption on Home Loan (Principal Amount)

Having one’s own home is perhaps the foremost among other aspirations in an individual’s life time. Individuals can claim exemption on the principal component of home loan under section 80 C of the Income Tax act. This exemption can only be claimed for a house or flat for which the completion of construction certificate has been issued. Any repayment of principal amount before completion of construction is not eligible for exemption. Also it is important to note here that tax payer needs to hold the house property atleast for five years after gaining possession as otherwise the claimed deductions on principal payment will be reversed.

  1. Exemption on Life Insurance Premium

Taking a life insurance plan is the best way to secure the lives of family members even if one is not there for them. Income tax act section 80 C allows exemption on taxes for premiums paid for life insurance policy. Income tax payers can claim deduction on life insurance premium paid during the financial year for self, spouse and children but not for parents or in laws. HUF can claim tax exemption on life insurance premium paid during FY for all the covered members. All life insurance schemes authorized by IRDA are eligible for tax exemptions under section 80 C including LIC and life insurance plans by other insurers.

  1. Exemption on PF and PPF

The portion of salary deducted for PF as well as the employer’s contribution to PF is exempt from taxation under section 80 C. However if employer contribution is over 12 % then the over portion is taxable at source by employer and if interest on PF is over 9.5 % then the over portion is taxable while filing of IT returns by employee.

Individuals who do not have PF account may choose to put some money into PPF account which offers the same tax benefits as the PF account.

  1. Exemption on Tuition Fees of Children

IT act section 80 C also provides exemptions for tuition fees paid by parents for their children’s school education during the financial year. Only tuition fees paid in Indian schools, colleges, institutions and universities are eligible for exemption under section 80 C.

It is important to note here that section 80 C exempts only the tuition fees component of your child’s school or college fees. Admission, transport, annual and other fees are not eligible. For claiming exemption on tuition fees procure fees payment receipt from school accounts section and ensure that the fees payment breakup is clearly mentioned. It is better to get a receipt for the whole year. While filing IT returns for the FY upload the receipt online or attach it with your IT filing form if you are filing your returns physically. In the ITR form, claim deduction under applicable column.

  1. Exemption on Savings and Investment Schemes

Section 80 C also provides for tax exemptions for money invested in various savings and investment schemes. These include the pension schemes, senior citizen savings scheme, Sukannya Samriddhi scheme for the girl child, ELSS or equity linked savings schemes, Five year term deposits or fixed deposits in banks and post offices, National Savings Scheme, Tax saving mutual fund schemes, ULIP or unit linked plans and other notified government schemes. It is important to note here that notified government schemes eligible for exemption may change and tax payers need to keep themselves updated on the yearly changes announced by the government in tax regimen as a part of the budget.

A Million Lives

Travelling in all its glory is fun and exhilarating but sometimes you might want to find some information on where to go, what to see and how to go about it from someone other than the go-to websites, especially when it comes to travel hacking and the coolest, most useful ways to get the most out of your next adventure.

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