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Chicago Tribune
17 hours ago
- Business
- Chicago Tribune
Terry Savage: My top 10 lessons for entering the digital financial era
We live in a digital world, especially when it comes to money. And, like it or not, you'll soon be forced to get used to it — especially since the IRS will soon no longer accept or pay out with paper checks! On March 25, President Trump signed an executive order mandating that all federal departments and agencies end their use of paper checks and switch to electronic payments by September 30. Soon, you'll be required to make tax payments securely and directly from your bank to the IRS via their website! (See Don't get defensive here. I'm well aware that a certain generation has no intention of moving into this 'modern' digital era. My own (younger) brother will not let me get him a smartphone, and he truly believes that I check my email every hour to get his announcement that he arrived safely home! No texting for him! My plea: If you have already joined the digital revolution, please don't give up on your Luddite family members and neighbors. They're going to need your help as cash disappears, along with paper checks. Already more than 95% of tax returns are filed electronically, even if your accountant gives you a paper copy! You can't stave off the digital era of money, so you must learn to handle everything from Venmo and Paypal to credit and banking online, securely. If, by chance, you're a 20-something who happened to read this column in a newspaper (does that happen anymore?), it is your duty to drag your grandparents into the digital age. Do your duty. After all, an older person taught you how to drive a car! OK, here are my top 10 lessons for entering the digital financial era. 1. Practice safe digitalization. Do your important financial things only on your home computer. Make sure you access the internet securely. Have a computer expert (or your grandchild) install a secure Wi-Fi connection, complete with password so your neighbors can't snoop. 2. Practice secure connectivity. Every bank and financial institution requires two-factor authentication. That means if you sign on to its website, it will instantly text or email you a code to insert on the sign-in page. (Another good reason for texting!) And banks mean it when they say 'Do not share this code with anyone'! Too many seniors are defrauded when they share this code with a fraudster over the phone. 3. Don't use your phone in public places to access private financial information. No matter who asks you to just 'check your bank balance' or 'confirm that your account is secure' — don't go online in Starbucks or outside your bank to access your account! The 'air' is insecure! 4. Protect your passwords. Yes, it's difficult to remember all those passwords — but that's no excuse for using the same one everywhere! Instead, your younger tech expert will help you get a 'password vault' — such as Dashlane or NordPass to securely generate strong passwords and safely keep track of them, auto-filling them when you go to a website. Now you only have one password to remember — the overall password to your vault. Never give it out! 5. Secure your cellphone. I've written about this before. Scammers have developed new sophisticated strategies to 'clone' your SIM card — the inner workings of your phone — allowing them to divert those two-factor text authorization messages. Ask your phone company to provide a separate password for your SIM card. That means every time you turn on the phone you need to insert not only your phone password, but the sim card password. 6. Be careful where you use your card and PIN. Don't take cash from an ATM in the grocery store unless it is an ATM provided by your bank. Keep one card for use at gas stations, where you're more likely to be a victim of skimming through devices inserted in the card slot. Reserve one card for your online purchases. 7. Use the new technology on your card. Now, instead of using the keypad to insert your PIN where someone can watch over your shoulder, just tap your card on the reader when you make a purchase. Then put the card away quickly in your RFID-protected wallet. 8. Track your bank and credit card accounts online at least weekly, from your secure Wi-Fi connection at home. You're looking for balances and unexpected charges. Call your bank or card issuer immediately if you find something suspicious. And please remember to close the browser window that accesses your bank account when you've finished looking at it! 9. Track your credit score even if you're not planning to make a large purchase or buy insurance. Changes can mean someone else is accessing your credit to borrow money. Your bank or card issuer probably offers credit score checks for free. Or sign up at Check in only on your home computer. 10. Freeze your credit at all three bureaus, by going to Then remember the PIN you created to access your credit report! There is no cost to freeze, and you can temporarily unfreeze at any time if applying for a loan or insurance. Bottom line: You can't escape the digital financial era! Your best route is to understand it, use it safely, and to your advantage. That's The Savage Truth.
Yahoo
02-05-2025
- Automotive
- Yahoo
How to Get From Lease-On to Authority in 90 Days
The jump from leased-on driver to running under your own authority feels easy when you're frustrated with your current situation. You start thinking, 'Man, if I'm doing all the work, why am I giving up 20%, 30%, even 40% of the money?' And you're not wrong to feel that way. But emotion doesn't pay for diesel. Hustle doesn't fix cash flow gaps. And getting your authority isn't a victory—it's just the start of a new I recorded that episode of The Long Haul with the team over at CloudTrucks, we talked about this exact thing—how so many drivers want to transition but don't realize the weight of what's coming. They think owning your own numbers means more freedom. And it does—if you do it right. But if you're not ready, it can bury you just as fast. Today, I want to tell you a real story. I want to tell you a real story today. Not a perfect Instagram story. A real 90-day journey from being leased onto a carrier to running under your own authority. We teach this inside the Playbook Masterclass because I've seen it work over and over again. But I want you to walk through it like you're living it. I want you to feel the pressure, the planning, and the payoff. Because if you're ready to move from leased-on to independent, it's time to stop thinking about it and start planning it. Here's how it looks when it's done right. When Marcus (we'll call him that for privacy) first enrolled, he was fed up. He was leased onto a mid-sized carrier out of Tennessee. He was grossing around $5300-$5600 per week, but after the carrier's cut, his settlements were barely covering his truck note, insurance escrow, fuel advances, and home expenses. Sound familiar? He thought authority was the answer. We slowed him down. 'Marcus, before we even talk about DOT numbers and insurance quotes, we need to know if you're ready to operate like a business—not just a truck.' We started with an honest audit: What are your actual cost-per-mile numbers? How much working capital do you have saved? What's your credit situation? Do you have direct freight relationships or are you going to be board-dependent? What's your plan for insurance? He didn't have all the answers. That's okay. Most don't. But he was willing to get real. And that's the first step. Always. Lesson: Before you chase your authority, know your numbers like your life depends on it. Because it does. We got to work. Marcus followed the Roadmap action plan: Filed LLC paperwork Applied for EIN through (free, don't pay someone for this) Reserved a business domain name and email through GoDaddy Started building a basic business website Began shopping commercial insurance with at least three reputable agents Pulled a personal credit report and cleaned up old issues Built a cost-per-mile spreadsheet (fixed and variable costs) He didn't even start applying for his authority yet. Why? Because you don't file for an MC number until you're ready to activate it within 30–45 days. Otherwise, you waste money, burn up insurance grace periods, and create unnecessary DOT audit risks. Lesson: Filing paperwork is easy. Running operations is where most fail. Build the foundation before you start the clock. Once his LLC was official and his insurance quotes were coming back, Marcus filed for his authority through the FMCSA website. Application cost? $300. He immediately set up his BOC-3 process agent filing (mandatory). While waiting on DOT approval: He began to research insurance Setup a factoring package through a trusted provider (no-recourse option, low rates) Set up a TMS (Transportation Management System) — Truckpedia, simple and effective Opened a dedicated business bank account During this window, he also did something most new authorities miss: He started building broker relationships once it went active. He setup with the usual ones: CH Robinson TQL Amongst several others…… He introduced himself however on calls. Explained he had a new authority, but was eager to earn his stripes. Asked what paperwork he would need to be ready and if they help newer authorities. Some brokers will tell you to call back once you have some time under your belt. That's fine. But the ones who know you're organized, professional, and proactive will remember you when that MC gets some time. Lesson: Preload your Rolodex. Brokers don't care about your timeline. They care about your readiness. Here's where most new authorities mess up. They get busy chasing loads and stop building relationships. Marcus didn't. He made it a rule: 3 cold calls to new shippers or brokers every week. Non-negotiable. In week 9 (yes….week 9), he landed a small regional produce shipper that needed 2 loads per week to local distribution centers. Short miles. Good rates. Paid within 7 days. That's called leverage. Now he wasn't just living on the load boards. He was building a freight ecosystem around his business. At the end of 90 days, here's what Marcus's business looked like: Two solid broker relationships feeding him weekly outbound freight One direct shipper with consistent produce loads Factoring line under control, paying 2% on quick pays Cash reserve growing by $1,200–$1,500 per month Personal credit improved by 22 points Netting around $4,000–$5,200 monthly after all expenses including payroll No fleet. No massive overhead. Just one disciplined business owner who understood the assignment. Marcus didn't have a secret weapon. He wasn't special. He wasn't lucky. He just had a plan—and he executed it daily. That's the difference between drivers who dream about getting their authority and drivers who build companies that last beyond the first 12 months. We teach this inside the Playbook Masterclass. Not because it sounds good on a brochure. Because we've seen it work in real life with real drivers who were willing to trade in emotion for execution. If you're thinking about moving from leased-on to independent, hear me loud and clear: It's harder than you think. It's scarier than you expect. It's lonelier than you're ready for. But it's also more rewarding than you can imagine if you do it the right way. You can't just want a bigger slice of the have to be willing to bake your own pie from scratch. And that takes: Structure Systems Patience Business discipline Freight relationships Numbers you can trust Coaches and communities that won't let you slip back into old habits If Marcus could do it in 90 days, so can you. The only question left is: Are you going to plan your authority, or just pray your way through it? One gets you a truck payment. The other gets you a business. You decide. The post How to Get From Lease-On to Authority in 90 Days appeared first on FreightWaves. Sign in to access your portfolio
Yahoo
15-04-2025
- Business
- Yahoo
Taxes are due today. Need more time? Here's how to get an extra six months through the IRS
It's Tax Day 2025, the final day to submit your tax returns to the IRS. Can't meet this year's Tax Day deadline? April 15 is the last day taxpayers can ask the IRS for additional time. Here's how to request a tax filing extension through the IRS. The deadline to submit your tax returns is today, April 15. But if you need more time, you can request an extension. The IRS says that a tax filing extension guarantees the taxpayer six more months to file, moving the deadline to Oct. 15. IRS Free File is one of the easiest ways to request an extension, but taxpayers should still pay taxes owed by April 15 to avoid penalties (the IRS can help you see what you might owe). An extension to file is not an extension to pay. You could be subject to penalties and interest if you don't file your taxes by the April 15 deadline. Even after Tax Day, the IRS recommends filing as soon as possible to minimize penalties, especially if you owe money. If you're expecting a refund or don't owe money on your taxes, there's no penalty for filing after the April 15 deadline, but the IRS says taxpayers due a refund should still consider filing as soon as possible. The IRS has these tips for filing with the Tax Day 2025 deadline looming: File your taxes electronically. The IRS says IRS Free File or IRS Direct File are the best options for electronic filing. They likely lead to fewer mistakes and are the quickest way (along with electronic deposit) to get your refund. Request an extension by April 15. Anyone can use IRS Free File to submit an extension, regardless of income. Remember, an extension of time to file is not an extension of time to pay. Make sure your return is accurate. Before filing, double-check that everything is correct, from your address to signing your returns to any figures and identification numbers. It's recommended to take your time to avoid common mistakes. For anyone needing last-minute tax filing help, the IRS has filing information for individuals as well as businesses and self-employed people available on Those who e-filed tax returns should receive a refund about one month or less from the filing date, according to the IRS. You can typically check your refund status soon after you file using the Where's My Refund tool, downloading the free IRS2Go mobile app or calling 800-829-1954. The refund tracker displays three status types: Return received: The IRS has received and is processing your tax return. Refund approved: If the return is complete and accurate, the IRS will approve and prepare to issue a refund. Refund sent: The refund was sent to your bank or the IRS sent a check through the mail. A refund status will appear 24 hours after you e-file a current-year return, three to four days after e-filing a prior-year return, or four weeks after you file a paper return. Typically, it takes up to 21 days to process an e-filed return, or longer for amended returns and returns sent by mail. The IRS recommends direct deposits as the fastest way to get your refund, rather than a mailed paper check that can take weeks to arrive. This article originally appeared on The Columbus Dispatch: Tax Day 2025 deadline is today. How to request more time from the IRS
Yahoo
15-04-2025
- Business
- Yahoo
Where's my refund? Is my deposit delayed? Here's how to check IRS refund status
Today is the final day to file your taxes. But if you've already crossed that off your to-do list, then you could be waiting for a refund. According to IRS data, the bureau expects nearly 140 million Americans to file taxes. But when will that check or direct deposit arrive? Will there be delays? Here is what you need to know about tax deadlines, how to check your payment return status, and when to expect your return. The process of seeing your tax refund status is simple. On the site, taxpayers who filed their returns can see their refund status on the "Where's My Refund?" tool. To see the status, you must enter the following information: Your Social Security or individual taxpayer ID number (ITIN) Your filing status The exact refund amount on your return Once the information is entered, you will see one of the following: Return Received – The IRS received your return and are processing it. Refund Approved – The IRS approved your refund and are preparing to issue it by the date shown. Refund Sent – The IRS sent the refund to your bank or you in the mail. It may take five days for it to show in your bank account or several weeks for your check to arrive in the mail. If you file electronically, your return is processed much faster than if you file a paper return and wait for a check. According to the , most refunds are issued in less than three weeks. The IRS advises taxpayers not to depend on receiving a refund by a specific date, particularly when making significant purchases or paying bills. Some returns may need further review, which could take more time. There is a bevy of reasons why a tax return gets delayed. Here are the most common reasons, as per the IRS: The return has errors, is incomplete, or is affected by identity theft or fraud. The return needs a correction to the child tax credit or recovery rebate credit amount. The return has a claim filed for an earned income tax credit or additional child tax credit or includes a Form 8379, Injured Spouse Allocation PDF. The time it takes a taxpayer's bank or credit union to post the refund to the taxpayer's account. Federal income tax returns for 2024 must be filed by April 15, 2025. Americans residing overseas have an extended deadline of June 16, 2025, to file. The IRS clarifies that the timestamp in your time zone when submitting your electronic return determines its timeliness. For those submitting paper returns, the IRS will consider them on time if they are correctly addressed, have sufficient postage, and are mailed and postmarked by the due date. For electronic filers, the deadline is 11:59 p.m. local time. This article originally appeared on Austin American-Statesman: Where is my tax refund? Here's how to check IRS refund status
Yahoo
14-04-2025
- Business
- Yahoo
When are taxes due? Here's the last day to file, how to file an extension before Tuesday
Still haven't filed your taxes for 2025? Not sure if you're getting a refund? You'll need to file soon. According to IRS data, the bureau expects nearly 140 million Americans to file taxes. But when will that check or direct deposit arrive? Will there be delays? Here is what you need to know about tax deadlines, how to check your refund status, and when to expect your return. The deadline to file taxes is Tuesday, April 15, 2025. Tax Day is the next business day if April 15 falls on a Saturday, Sunday, or legal holiday. Americans residing overseas have an extended deadline of June 16, 2025 to file. The IRS clarifies that the timestamp in your time zone when submitting your electronic return determines its timeliness. For those submitting paper returns, the IRS will consider them on time if they are correctly addressed, have sufficient postage, and are mailed and postmarked by the due date. For electronic filers, the deadline is 11:59 p.m. local time. Need more time? According to the IRS, there are three ways to get an extension to file your tax return. Use Free File (no income limit for extensions): Use IRS Free File to electronically request an automatic tax-filing extension. Request an extension by mail: File Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return. You can file by mail, online with an IRS e-filing partner or through a tax professional. Estimate how much tax you owe for the year on the extension form: Subtract the taxes you already paid for the filing year. Pay online and check the box: Pay what you owe using an online payment option and check the box that you are paying as part of filing for an extension. You don't have to file a separate extension form and you'll receive a confirmation number of your extension for your records. You may get an automatic 2-month extension if you're a U.S. citizen or resident alien on the regular due date of your tax return and living out of the country. On the site, taxpayers who filed their returns can see their refund status on the "Where's My Refund?" tool. To see the status, you must enter the following information: Your Social Security or individual taxpayer ID number (ITIN) Your filing status The exact refund amount on your return Once the information is entered, you will see one of the following: Return Received – The IRS received your return and are processing it. Refund Approved – The IRS approved your refund and are preparing to issue it by the date shown. Refund Sent – The IRS sent the refund to your bank or you in the mail. It may take five days for it to show in your bank account or several weeks for your check to arrive in the mail. The timeline for your refund depends on how you filed the tax you file electronically, your return is processed much faster than if you file a paper return and wait for a check. According to the , most refunds are issued in less than three weeks. The IRS advises taxpayers not to depend on receiving a refund by a specific date, particularly when making significant purchases or paying bills. Some returns may need further review, which could take more time. There is a bevy of reasons why a tax return gets delayed. Here are the most common reasons, as per the IRS: The return has errors, is incomplete, or is affected by identity theft or fraud. The return needs a correction to the child tax credit or recovery rebate credit amount. The return has a claim filed for an earned income tax credit or additional child tax credit or includes a Form 8379, Injured Spouse Allocation PDF. The time it takes a taxpayer's bank or credit union to post the refund to the taxpayer's account. This article originally appeared on Austin American-Statesman: Tax Day 2025: Taxes are due Tuesday. Here's how to file an extension Sign in to access your portfolio
