Online Penny Stock Trading - Knowing the Rules

Like any other investments, online penny stock trading doesn’t guarantee 100% success and profit. Yes, online penny stock trading has made a lot of people bank fortune and you can do it as well, as long as you equip yourself with the basics needed to succeed. If you are a beginner or starter, you've landed on the right page because this article will guide you through the 4 important rules of online penny stock trading. Read on.

Rule 1: Ensure Safety of your Investments

The field of online investing also has its share of frauds and scams. As a matter of fact, the infamous "pump n dump" scheme exists here, particularly in the special field of penny stocks. Fret not; you can still safeguard yourself from being victimized by following the tips below:

• The first online penny stock trading rule is to not mind any penny stocks information from email messages sent to you by people you don’t know. Scam artists like using email to scam people. In addition, you should not trust anyone saying that a certain penny stock will boom the next day. It is better to trust the updates and discussions from reputable stock forums.

• Do your job of doing your own research. Though there are available resources from professionals in this field, it is still your job to confirm the information you got from them.

• Don’t trust advertisements about penny stocks. Do you know that there are plenty of illegal companies conducting their fraudulent activities online? Unfortunately, though SEC exists, it is too busy to monitor all these things.

Rule 2: How to Find an Online Stock Broker?

You need an online stock broker to start with online penny stock trading. However, you shouldn’t give in to the very first broker you see. You should first do your research before opening an account with your chosen online stock broker. You might be blinded by capital security fees but keep in mind that your investments matter most. The low fees are really enticing but the most important thing here is to keep your investment safe and accessible all the time.

Rule 3: Using Penny Stock Software

There are different online penny stock trading software programs to use, but actually, online penny stock trading software program provided by your broker or those free tools online are enough to help you.

Rule 4: The Online Penny Stock Trading

It is common for penny stocks to trade on "pink sheets", the term used to refer to the pink paper used by stockbrokers on the floor to write their penny stock orders on. Penny stocks trading on pink sheets are not fully regulated that is why they are not allowed to trade in Dow Jones, NASDAQ, and other big exchanges. Instead, you can trade them through smaller exchanges, which do not require a lot of information, particularly in terms of financial paper works, just to keep them going up and up. In order to avoid this, cheap stocks trading on big stock exchanges are still the best way to go.

There you have it – the most important online penny stock trading rules to observe to succeed in this investment venture.

Statutory Maternity Payments

When having a baby for the first time and seeing what types of financial benefits are available, the first and possible only benefit mums to be consider is Statutory Maternity Pay (SMP), which we have discussed in a previous article. However there are other benefits available to new mums apart from SMP that are less well publicised. Here we run through the other benefits to look out for and how much they could be worth to you.

In addition to offering SMP, some employers will offer their own maternity pay scheme, which must pay at least the same benefits as SMP. The better schemes will pay 90% of salary for a period of anywhere between 3 and 6 months and possibly 50% of salary thereafter up to a total period of 9 months. If you are wanting to take 12 months off work then the final 3 months must normally be self funded.

If you are thinking of starting a family then it is wise to check your employer’s scheme as you need to be employed for a minimum period before qualifying. Such schemes usually require you to go back to work after being off on maternity, otherwise you may be required to pay an element of the benefits back.

This period might only be 6 weeks or so, in which case it is probably worth returning to work for this time before you focus on the rest of your says out of the rat race! What’s more you needn’t go back to work to your old job and you might be able to instigate working in a less demanding role which will ease you in to your new lifestyle choice.

A Maternity Allowance (MA) is available if you do not meet the criteria for SMP but have been employed or self-employed for a minimum of 26 weeks in the 66 week period ending with the week before your expected birth. You are also eligible if you have earned at least £30 per week over a 13 week period.

MA is paid at the same rate as SMP that is £124.88 per week or 90% of your average weekly earnings if less. The good news is that this payment is not taxable. Payment can start up to 11 weeks before the baby is due and the latest you can claim is the day after the birth. To clam complete form MA1 and return to the Jobcentre Plus with your SMP form, proof of earnings and your maternity certificate.

If you are not in a position to claim either SMP or MA then you may be eligible for a Sure Start Maternity Grant (SSMG). This is a one-off payment of £500 that does not need to be repaid, so if you are eligible for the grant don not delay in applying. SSMG is aimed at those families on low incomes. Ask your local Jobcentre Plus for form SF100 to apply.

A Health in Pregnancy Grant is also available without affecting any other benefits. This is a one-off payment of £190 with claim forms being available from your midwife or GP.

Starting From Scratch – Rebuilding Credit After Bankruptcy

After months of proceedings, your bankruptcy has been discharged. Now what? The process of rebuilding your post-bankruptcy credit score (which is probably around 400 right now) can prove to be one of the most confusing times of your (financial) life.

Check Your Credit Report & Score

The first item on your agenda should be to check your credit report and score. There are three major credit reporting bureaus. Be certain to check all three for discrepancies. Every debt that you declared in your bankruptcy proceeding that was included in the discharge should be noted as such.

Oftentimes, mistakes in noting the credit item as still being in collection can cause your score to be reduced further. When you find an item that does not look right, you need to contact the agency that is holding the file immediately and request them to make the appropriate notation.

Follow the Terms of Your Discharge

If you have are required to repay any of your creditors, do so with fervor. Failing to do so may result in further derogatory comments on your credit file, or may put you into collections again. That would be the last thing that you want to see happen following a successful discharge.

Obtain Two Secured Credit Cards

Shop online for secured credit cards. A secured credit card is a sure-fire way to add points quickly to your post-bankruptcy credit score. You will make a deposit to the bank or credit card issuer in an amount ranging anywhere from as little as $300 up to $2500 or more. You credit line will be equal to your deposit of record; further, it will stand as security for the card issuer in the case that you default. Some secured credit card deposits will accrue interest over time.

Try to find a card that features an interest-bearing deposit. Also, get a card that has a limited fee (some cards charge exorbitant fees or annual fees). Never use more than 1/3 of your available credit line, and run a small balance. By having two secured card accounts, you will add points quickly. Keep a record of purchases to avoid going over your credit limit, which you should exceed under no circumstances.

Take Out a Personal Loan

If you can find a creditworthy cosigner, try to obtain a small personal loan. You may use the money for anything that you like - shopping, travel, education, or you might choose to deposit it into a savings account. Taking out a personal loan shows potential creditors that you have the ability to manage multiple forms of credit.

Prove Yourself

By making payments according to their due date, you make yourself appear responsible and creditworthy in the eyes of potential lenders. They will look at your available credit versus high balance on all of your loans in their determination process for future loans, so do not over extend yourself by borrowing more than you can afford to repay. By following these steps, you will show the financial world that you have conquered your demons and are ready to become the type of borrower that lenders seek out.

Prior Year Taxes - How to Prepare Your Prior Years Taxes For Cheap?

Folks get behind on preparing and filing their taxes for many reasons. Challenging times in their private life, short on money to pay their taxes.

A friend of mine was undergoing a tough divorce. It was not the best of times in his personal life believe me. And around rolls in April 15th - the deadline for preparing and filing his taxes. He even had a difficult time figuring out whether to file jointly or separately - not to mention the challenges of talking with his wife concerning taxes. So the reality is filing a tax return is the very last thing on his mind.

Did you know that the IRS is holding on to millions of dollars in refund cash from folks who never cared to file a tax return.

Listed below are some points to remember should you be planning to prepare a prior years unfiled tax return:

- You need to be current on your prior taxes to receive a refund on the current year tax return. For example to file a 2010 tax return, you should have filed all the prior years taxes. If you think you are going to get a tax refund this coming year, you should definitely must prepare and file your prior years tax returns to make it current.

- You can file a prior year tax return for upto 3 years back and still get a refund. So lets say you did not file your 2008, 2009 and 2010 tax return, you can still file them now and be eligible for a tax refund on the 2010 tax return.

- Prior year taxes can be filed anytime throughout the year. You do not really have to wait around for April 15th.

How Do you Go About Filing a Prior Year Tax Return?

One of the most expensive way to do your prior year taxes is to use an accountant. Not all accountants are alike when it come to having the work done. But one thing is nearly certain - preparing and filing a tax return from prior year is in fact far more expensive using an accountants as compared to preparing your current year taxes.

So Why Do People Ask you for a Lot More Money to Do your Prior Year Taxes?

Tax rates, brackets, exemptions and credits changes from year upon year. So effectively your tax preparer has to go back to back a few years to figure out all these things.

Can you Prepare Prior Year Taxes Alone?

You bet! To do this by hand you would need to first step is to search for the prior years tax forms. For example to file a 2008 tax return you would have to file it using tax form from 2008.

The forms are not that easy to find particularly if you go back a few years. To obtain the forms even on the IRS website is difficult. Not only you need the actual tax forms, you also need the instructions which go with it. Next comes the difficult job of getting your records in order and finally the hard part - the number crunching

Can there be a Simpler Way?

Of course!

Several tax web sites offer you online preparation of prior year taxes. These sites guide you through an interview process. For those who have used one of the major tax sites you will be familiar with the guided interview process. The software walks you through the steps of capturing your personal and tax details. If you don't have a prior year W2, there are specific steps you can follow to obtain one.