Tax Credits and Exemptions for New Parents

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father holding babyChildren bring all manner of joy, including tax joy in the form of federal breaks and deductions. New and soon-to-be parents should keep up with these advantages in the tumultuous period of caring for a newborn. That’s where tax expert Eva Rosenberg comes in, giving us a primer on the Equifax Finance Blog, “

Tax Tips: Tax Implications of a New Baby.”

The first and biggest exemption for parents is going to be claiming a dependent, which in 2011 is worth $3,700 per child. This grows if you are a single parent, who also has access to head of household benefits. Head of household, single parent or otherwise, also enjoys lower tax rates overall, so it is certainly a benefit to take advantage of.

In addition, the Child and Dependent Care Credit is worth 20 to 35 percent of the first $3,000 per child paid for childcare while parents are working or studying. Both parents have to be working in order to use. In addition, there are child tax credits, and low-income families (married, filing jointly under $41,132 with one child) may be entitled to additional credits.

States also offer tax credits which will be very helpful for the big lifestyle change of becoming a parent. For more information about taxes in general, as well as all manner of financial tips, tricks and expert advice, check the

Equifax Finance Blog.

Dealing With Injuries On Your Carolina Real Estate

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homeowners insurance

homeowners insurance

Homeowners insurance is something that most people obtain and then forget about. After all, it’s not every day that an emergency occurs and forces you to dig up your policy information. If something does happen on your property, knowing how to handle the situation can save you plenty of stress in the long run.

In a recent article on the Equifax Finance Blog, “

Homeowners Insurance: Someone Gets Hurt On Your Property” Linda Rey offers advice for homeowners on what to do if someone gets hurt on your property.

If an accident does occur, you should first assess the extent of the injuries and determine whether or not to call 911. Depending on your relationship with the injured person, you may want to contact the police so both parties can make statements.

After that, try and take photos of everything – the injury (if possible) and the area where the accident occurred.

People with up-to-date insurance policies should have an attorney on retainer who will defend you if you are sued. If the injured party is merely looking for reimbursement of medical costs, your insurance policy should cover those expenses.

Regardless of the situation, call your insurance agent for guidance. An agent can help you much better if he or she knows about any injuries or potential claims right when they happen.

For more insurance advice, visit the

Equifax Finance Blog often. Let us know if this advice has been helpful.

Does Your Insurance Policy Cover Sports?

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Child playing hockey

Child playing hockey

If you’re the proud parent of a child who plays sports, you probably already know the routine when the season starts: Buy new equipment, take your child to get a physical, submit the required

health insurance forms.

However, there may be some things you aren’t aware of, particularly in regards to your current policy. On the Equifax Finance Blog, Linda Rey shares some information regarding children’s health insurance. Her article, “

Sport Health Insurance for Kids: What Parents Need to Know,” provides helpful advice for parents to keep their children safe.

Rey advises parents to review their regular health insurance plan and make sure that sports insurance coverage is provided. Even though you probably won’t need a special insurance policy for most sports, parents should double-check their policies just in case. Also, most schools and leagues require a mandatory sports physical. If your child is participating in an activity that doesn’t require one, Rey still insists on the importance of physicals. Most exams should be covered by your health insurance, but reviewing your current policy is advised.

If your child plays for a team with out-of-state or international games, insurance protection may change. Be sure to ask an agent about out-of-area coverage or restrictions. Parents with children traveling internationally may also want to consider some form of travel insurance.

For more information on sports health insurance for children, read Rey’s full article on the

Equifax Finance Blog.

The Hidden Costs of Speeding

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car insurance

Even though we know it can be dangerous, most of us are guilty of speeding on certain occasions – being late for work, rushing home to watch a sporting event, etc. Aside from the obvious risks and dangers associated with going over the speed limit, there are plenty of other hidden hazards as well.

According to Equifax blogger Linda Rey, getting caught speeding will cost more than just the amount on the ticket. In “

Traffic Violations and Your Auto Insurance Policy,” she explains why you should think twice before putting your foot to the floorboard.

You may think that your speeding ticket is just an exchange between you, the police officer and the county courthouse. However, your

car insurance company is keeping tabs on you too. After all, they want to assess how much of a risk you pose and adjust your rate accordingly. Rey suggests slowing down and being more alert on the road. Not only will this keep you safe, but it will also keep your driving record pristine. And a clean driving record leads to a lower insurance rate.

Rey states, “I cannot express enough the benefits of slowing down, putting the phone down, and paying attention while you drive. Doing so won’t just provide you with a lower auto insurance premium—it may save your life.” To read her full article on the Equifax Finance Blog, visit the site at

http://blog.equifax.com and sign up to follow it on Facebook, Twitter or by RSS feed.

Free Trip to the Lake to Enjoy Outdoor Activities

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The Village at Reflection Lake Nantahala

Does the crisp, fall air make you want to get outdoors? The Village at Reflection Lake Nantahala, an exclusive lake and mountain view community, is offering a free day at the lake until September 30. So, grab your fishing poles and hiking boots and travel to Topton, North Carolina! Potential buyers will be treated to lunch at the famous Lakes End Diner, a $25 gas card, a pontoon boat tour of the lake, a tour of available lots and a chance to win a weekend at the lake in a cabin.

Plus, guests can also experience other outdoor activities that are perfect for fall. Put those fishing poles and hiking boots to good use! Lake Nantahala has inviting waters for boating and fishing. Additional activities near the lake include hiking, camping, rock and waterfall climbing, horseback riding and golfing.

The Village at Reflection Lake Nantahala features home sites priced from $94,900 to $129,900. There is no build-out requirement, so buyers can take their time planning their dream vacation homes. When completed, cabins will have incredible views of Lake Nantahala.

A standard cabin features 3,023 square feet of space with three bedrooms and three-and-a-half baths plus a loft. The kitchen includes granite countertops, stainless steel appliances, a double sink with disposal and a sliding cutting board over the trash bin. The great room includes a wood or gas burning fireplace, timber mantle and custom, stacked-stone surrounded with built-in bookcases. The master bedroom features a sliding door to a private, screened-in sleeping porch for open-air sleeping. In addition, the master bath includes a double vanity, tub, shower seat and walk-in closet.

Residents will enjoy the community’s gated entrance, protective covenants, underground utilities, shared water wells and a park, which provides a shared pavilion, fire pit, camp site and golf cart parking.

For more information or to schedule a day at the lake tour, call 866-218-8439 or visit www.lakenantahalareflection.com/thevillage.