SavingsBonds.com Announces How Costly Cash-in Mistakes for Millions of Savings Bond Owners Can Be Avoided - KWES NewsWest 9 / Midland, Odessa, Big Spring, TX: newswest9.com |

SavingsBonds.com Announces How Costly Cash-in Mistakes for Millions of Savings Bond Owners Can Be Avoided

Posted:

This article was originally distributed via PRWeb. PRWeb, WorldNow and this Site make no warranties or representations in connection therewith.

SOURCE:

SavingsBonds.com announces how costly cash-in mistakes for millions of savings bond owners can be avoided. Exclusive report suggests the best bonds to cash in and helps eliminate tax surprises.

Spring Lake, NJ (PRWEB) June 26, 2014

SavingsBonds.com is providing new ideas on how paper savings bond owners can avoid losing money. The company's exclusive Cash In Report© essentially eliminates the guesswork as to which savings bonds investors should cash in first and which ones to hold onto. Unfortunately cash-in mistakes are often made because investors simply don't know what their bonds are worth, the interest rates they are earning, or timing and taxation issues.

Additionally, the total interest earned amounts for any redeemed bonds are indicated. When any redeemed paper bond has earned more than $10 in interest, a 1099-INT will be issued by the financial institution (either on the spot or within the first few months of the following year after the bonds were cashed in). For many, especially those on a fixed income, knowing in advance potential tax liabilities is important for financial planning.

While most Americans purchase savings bonds for retirement or education purposes, the reality is that most bond owners wind up cashing them earlier than they expected to pay for other, often unforeseen expenses, such as bills, home or car repairs, or a vacation.

Unfortunately, unsuspecting investors often randomly pick bonds when cashing in. They may grab the oldest ones from the bottom of their stack, even though that bond might be earning the highest interest rate, and should have been held onto. Furthermore, savings bonds may be worth more than the amount printed on the face of the bonds. As a result, many investors may be cashing in more bonds than they actually needed at the time and will have to report more interest income on a federal income tax return than they expected.

Our goal is to provide bond values and important financial facts to every paper bond owner in America, says Jack Quinn, Founder of SavingsBonds.com. I want to see investors maximize their savings bond investments, make smart, educated decisions before they cash in, and keep more money in their pockets.

Despite the availability of complimentary bond calculators, and new savings bond management programs and reports many investors still dont realize that savings bonds dont all operate the same or how they work. In order to make educated decisions, investors need to understand what their bonds are worth, whether the bonds are still paying interest, and what that interest rate is, and the tax liabilities upon redemption. Armed with these facts, which can now be easily obtained, bond owners will finally be able to avoid losing money and eliminate any guesswork when it comes to managing their savings bond portfolios.

About SavingsBonds.com:
SavingsBonds.com is the #1 non-governmental site valuing over $1.1 billion in savings bonds. Complimentary calculator offers personalized, unique color-coded, Savings Bond Inventory Report© featuring what this means to you, helps bond owners avoid losing money and maximize their investment. Extensive, consumer-friendly information center, helpful videos, newsletters, current series bond rates, purchase bonds link, online and popular government forms available.

About SavingsBonds.com VIP Membership:
SavingsBonds.com VIP Members have 4 services not offered elsewhere. 1. Bond Inventory Report© available/updated 24/7 indicates current bond values, interest rates, timing, taxation and maturity issues, displayed on an easy to understand, color-coded, personalized, bond-by-bond statement. 2. Bi-monthly Alerts! © Emailed summary statements specific to Members' bond inventory, provides inventory totals, interest rates/earnings, helpful strategies regarding current and upcoming financial events, including maturity and taxation issues. 3. Cash In Report© ranks bonds in performance order. Eliminates guesswork on which bonds to cash in first. 4. Daily (Video) Bond Tips. The ultimate savings bond Membership offering superior bond management helps investors avoid forfeiture of interest, double taxation and potential IRS tax situations.

For the original version on PRWeb visit: http://www.prweb.com/releases/US-Savings-Bonds/Savings-Bond-Calculator/prweb11974262.htm

Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact pressreleases@worldnow.com.