Why you should think twice before exaggerating on your taxes

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steve sextonSteve Sexton is President of Sexton Advisory Group and host of “Winning in Life” on KBCQ 1170 AM. On “Winning in Life,” Steve discusses various topics ranging from the community in San Diego, important financial information, business information, and travel tips to authors, inspirational people, charities making a difference, and much more. In each show, he strives to provide advice for his listeners to truly win in life.

As always, Steve discussed hot topics that are sure to grab your attention.

In recent events colleges are cracking down on graduates that have yet to pay back their school loans. Those that haven’t paid their bill are being denied their transcripts, thus hampering them from potential job offers. There are several cases against students that haven’t paid or even begun paying back their debt back to the schools and colleges are taking action. There have been at least six reported law suits against former students that have defaulted on their school loans.

The U.S. Postal Service is making more cuts, not only in employees and locations, but in delivery days. They have announced that starting in August they will no longer be delivering mail on Saturdays. The U.S. Postal Service has been struggling financially for years as almost everything is being sent digitally. Taxes are being filed electronically, contracts are being sent electronically (with password protection), there seems to not be much of a demand to mail documents anymore.

In other news congress expects to have the deficit below a trillion dollars since 2008, because of the increase in taxes of the wealthy, the fiscal cliff that will not get resolved until May, and because we have the sequester. The reality of their expectations is that it may not happen because of the changes to health care. Listen to Steve as he describes these issues and the reasons why Obama’s healthcare will continue to keep us in our current deficit.

The final discussion on Steve’s agenda, taxes. It is tax time and now more than ever you need to make sure you fill out your taxes accurately and honestly. The IRS needs money, so they are cracking down on people that embellished or straight lied on their tax forms. Remember to deduct what you can, donations, driving to donate, medical bills, etc, but be honest about these deductions. Steve has helped his clients save hundreds and thousands of dollars by finding money that slipped through the cracks, especially during this time.

“Winning in Life with Steve Sexton” is a great financial radio show that offers quick tips and information and we encourage you to tune in on KBCQ 1170 AM every Sunday at 9:00 AM. If you have any questions, feel free to submit your questions here at Winning In Life Radio. And as usual, Steve may also answer those questions live on the show, giving you the opportunity to win a $50 American Express gift card.

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