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Master Lock Giveaway!

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MasterLock is a brand we use all over our property.  That’s why I was excited to let you know that through April 16, any registered user of the Master Lock Vault is eligible to enter the Tax Relief Rewards Sweepstakes for a chance to win one of five, $1,000 prizes. The Master Lock Vault is a free, digital safe deposit box that provides a safe and secure solution for storing copies of important tax documents for easy access from any smart phone or computer!  Approximately 1 in 5 Americans who file their own tax return leave an average of $450 on the table each year – adding up to more than $5 billion in the U.S. – due largely to unnoticed deductions and credits.  That is why Master Lock has come up with a few things you need to check on your tax return:

  1. Recent College Graduates: Graduating from college is a great accomplishment, but many graduates face a mountain of debt owed on their student loans. Luckily, there are credits that could provide a tax break for young professionals this season:  Graduates who begin repaying their student loans may qualify for the Student Loan Interest Deduction, which would deduct up to $2,500 of qualified student loan interest. If you plan to continue your education, you may qualify for the Lifetime Learning Credit which can provide eligible students with a tax credit toward undergraduate, graduate or professional degree courses at an eligible educational institution.
  2. Newlyweds: After exchanging rings and tossing the bouquet, newlyweds’ lives – and taxes – merge into one. Filing jointly with your spouse offers many advantages, and the IRS gives joint filers one of the largest deductions each year.  With a new marital status comes significant changes that could affect your taxes. It’s imperative for the names and Social Security numbers on your tax return to reflect your Social Security Administration (SSA) records. If you made changes to your name (Form SS-5) or address (Form 8822), you need to file the proper forms to notify the SSA and IRS. You should also notify your workplace to ensure your receive your W-2.
  3. Parents: Raising a child to the age of 18 costs approximately $245,000 in today’s economy, according to the U.S. Department of Agriculture. Parents can ease their burden by taking advantage of the Child Tax Credit, which offers a tax credit up to $1,000 per qualifying child. Additionally, parents who paid for child care in order to work may qualify for the Child and Dependent Care Credit, which reduces federal income tax. 
  4. Seniors (65+): As we age, it’s even more important to correctly prepare tax returns in order to receive the proper deductions and credits. Storing personal expenses and documentation in a secure location, such as the Master Lock Vault, will keep seniors’ personal information organized and eliminate the worry of lost or stolen paper documents that contain confidential information. If you want or need to store physical copies, keep them protected in a locking fire- and water-resistant Sentry Safe storage chest or safe.  Based on filing status, seniors may qualify for the Credit for the Elderly or Disabled (Forms 1040 or 1040A), and seniors who do not itemize their deductions receive a higher deduction amount. Seniors should also take advantage of free tax services, such as the Volunteer Income Tax Assistance program, which provides income tax preparation and electronic filing services, and Tax Counseling for the Elderly program, which focuses on pensions and retirement-related concerns. 

Something else you can use in your home from Master Lock Keyed Locking File Box!

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This safely protects and secures your personal documents and helps keep your files organized in one location!  I love mine!  That’s why I have arranged for one lucky reader to win one.  Here’s what you need to do:

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Lisa Martin

Lisa Martin

In April 2006, Lisa began blogging to stay connected with distant relatives and friends. As she delved into blogging, she discovered the potential to assist others by sharing her experiences. Lisa has actively engaged in numerous exclusive media ventures. Notable among these are her participation in events such as the Sony Mommy Bloggers Event, the Pampers Mommy Bloggers Event, the Epson Event in Chicago, the Stouffers Event, a memorable yacht excursion with Lands End, collaborations with 1-800-Baskets, an exclusive tour for bloggers by Mrs. Prindable’s, partnerships with Hallmark, PopCap games, Chicago Cubs Mastercard Priceless Events, and Rug Doctor. In addition, she has collaborated with Nutrisystem on a weight loss initiative, teamed up with Buick and Chevy, and served as a brand ambassador for Sprint. Lisa's collaboration portfolio also extends to Disney, where she has participated in press trips for significant movies such as Frozen, Guardians of the Galaxy, McFarland USA, The Good Dinosaur, The BFG, and Cars 3. Notably, for projects like Frozen, The BFG, and Cars 3, she was granted the privilege of walking the red carpet and conducting interviews with celebrities. The impact of Lisa's blog has gained recognition, with The New York Times referencing her content. Moreover, she has been featured in interviews by respected publications such as the Southtown Star, The Chicago Sun Times, and inside.View Author posts

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