Going To College Invest In Wisdom
I was reading through Proverbs, looking for some direct instruction about finances, and I stumbled upon something very interesting. Read these scripture verses, and see if you notice a theme:
Blessed is the man who finds wisdom,
the man who gains understanding,
for she is more profitable than silver
and yields better returns than gold. (Proverbs 3:13-14)
Choose my instruction instead of silver,
knowledge rather than choice gold (Proverbs 8:10)
How much better to get wisdom than gold, to choose
understanding rather than silver! (Proverbs 16:16)
Now I might be a bit slower than your average bear, but it seems to me that the Lord is saying that wisdom is more important than gold or silver. Wisdom is worthy of searching for and pursuing. Wisdom and knowledge are worth the effort, and worth all the hard work. It is more important than investing in gold – AND it will get you a better annual average rate of return!
For some families, these verses may help them as they consider the cost of college. College is worth the effort. College may be worth the investment. Nobody knows your family, your finances, and your child’s future income better than you. With all those factors in mind, it may be worth taking a college loan – particularly since it has better dividends than gold and silver (which are doing pretty well right now, what with the government printing money like crazy, LOL!)
I say this with some trepidation, however, because the Bible also has a LOT to say about debt (none of it good). This is DEFINITELY something you should pray about and consider carefully.
One of my friends was talking to me about college debt, and how much debt was OK. From a secular perspective, you want to look at some specific statistics. Look up the statistics for one college at a time. What percent of students graduate on time? What percent of students are employed within 6 months of graduating? What is the average income for graduates? What is the average income for students getting a specific degree? How much debt does the average student accumulate at that college? Then take all the information and put it all together. Can the average student get a job that will pay off the average debt in a reasonable amount of time?
The Lord appears to be a big fan of investing your money in wisdom. It is worth it. How MUCH to invest can vary from family to family. It is worth going over the numbers though. After all, it is better to get wisdom than to pursue gold!
How To File For A Tax Extension In Five Simple Steps
April 15 is the official deadline to file tax returns and pay taxes in the US every year; and though aware of this deadline, many people fail to do so. While some people put off the filing work for no reason, few others dont find the time to gather all their tax documents. No matter what the reason, failing to file the tax return forms within April 15 results in hefty penalties, which keep on accumulating one above the other until the dues are paid off; unless a provision for tax extension is filed. For the benefit of taxpayers of US, the IRS allows a provision for extending the deadline to file tax returns up to 6 months, called IRS tax extension and all it takes is filing the tax extension form 4868 within April 15 and getting it approved. Not only it extends the deadline to file a tax return, but also avoids all sorts of penalties associated with late filing. So without further ado, lets discuss the simple, five step methodology to understand how to file for a tax extension.
1. Understanding Tax Extension
The first and foremost thing to do before knowing how to file for a tax extension is to understand what are its features. An extension essentially extends the time to file a tax return but doesnt extend the deadline for paying your taxes. April 15 shall remain to be the last date to pay all your tax dues and more importantly, April 15 is also the last date to file for a tax extension.
2. Reviewing the Need for Extension
Most people make the unnecessary move of learning how to file for a tax extension without even reviewing the need for an extension in their case. If you have all the documents ready, your accountant available at your service and no financial complications to pay the taxes, there is absolutely no need to buy extra time. It just becomes an excuse to procrastinate and delay filing further and further.
3. Form 4868 and 7004
In order to file for an extension, you need to fill the form 4868 for individual purpose and form 7004 for business. These forms are available both in paper form and online, the latter being the most preferred one. You can download and print the form for free from the IRS website or even take the help of an e-file provider website who also offer an online tax calculator.
4. Filling the Form
Though you know how to file for a tax extension, your form could get rejected by simple entry errors or incorrect information. So fill out the form carefully by providing valid information; and your name, contact information and social security number are the only documents you would need to fill out the form. Once done, you can track the status of your submitted form and get an email confirmation from the IRS on its reception.
5. Filing Tax Returns
Getting an extension of 6 months shouldnt be an excuse to delay filing tax returns. Once you get an approval, gather all the documents you would need, consult your accountant if there is one and ensure you take every aspect into consideration such as tax deposits, tax refunds, due amount etc. to file a tax return that helps your financial interests.
These 5 points are explained in brief and give an outline the process of filing. To know more about how to file for a tax extension, do your research or take the help of an e-file provider website which will not only help you file the extension form but also offers features like online tax calculators and advisory services.
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