Save money on electric bill

Lowering the electric bill is easy when following the simple tips in this article. Habits of leaving all the lights on in the house can cause the electric bill to sky rocket. Reduce the electric bill starting now with these tips.

Turn off the lights when no one’s there

People are lazy to turn off the lights when leaving the room. But they don’t know that this could save their money.

Know the right time right time to turn on/off lights

No one thinks about the time at which they should on/off the lights in the morning and the evening. Even though it depends on the weather, still we should calculate the period we use the light and the time we on/off our lights. Open the windows when you have natural light.

Use water carefully

We use water everywhere from shower to toilet. Reducing the amount of water we use can save a lot. Reduce the number of times you flush. Turn off the water while brushing. I don’t know why people turn on the water while brushing. This wastes a lot of water.

Plant trees around your house

Enjoy air from nature instead of machine. It will help you during summer and will keep your home cool.

Use CFL bulbs

Using CFL instead of your normal bulbs can save a lot of money of yours. Try them, you will get the result.

Computer

Use it only when needed. Turn off your speakers when not in use. Try to reduce the number of hours you listen music.  

Other Appliances

Unplug the appliance not in use. Many times we don’t do that and results in wasting electricity. Especially check and unplug when you go out for a long time. Turn off your TV when you aren’t watching it.

There are a lot of ways to save money in electricity. Comment any important tips I missed.

Save money on groceries

Every month we pay higher amount than previous month on our grocery. The price of all the products is increasing and we need to cop up with the increasing cost of living. Here are some tips to manage money in grocery.
Cut down unnecessary items
Make a list before you go to grocery. Think about the entire product one by one and analyze whether a product is needed or not. Every month we purchase a lot of stuffs which we don’t need but we want it. There’s a difference between wants and needs.
Check the items available in home
Most of the times we buy an item and later we realize that we already have it in our home. It really annoys us. Make sure that you don’t buy an item which you already have. It happens because we don’t keep the items in the place where it should be.
Coupons
Coupons can save a lot of money. You just need a voucher and coupon to buy your food at low cost. But never buy anything which is you don’t need to use coupons.
Grow your own vegetables
It’s the best way to save money. Most of us worry about the use of chemicals in vegetables. But when we grow our own vegetables, we know what is good for us and what we have to do to keep us healthy.
Don’t go for the brand name
Most of us buy some costly products because of their brand names. Check the difference between a branded item and its similar item and then buy what you want. Sometimes they don’t have any difference except for the price.
Bulk shopping
Reduce the number of visits to stores. Buy things at bulk. Buy things once or twice a month.
Make a list
Stick a list in your kitchen or in a place where you go often. If an item is over then write it down in that paper. Whenever you go for shopping, check the list and buy things accordingly.
Prepare your own food
Don’t buy food items to save time. You can also make items like chocolates, cakes, chips etc in your home. It will save your money.
Drink water
The best way to save your money is to drink water. Drink water and avoid other beverages.

Save money on cell phone bill

Mobile

Cell phones are the major source for everyone to communicate. We all use cell phone for various reasons. Mobile phone has many features and some of its feature costs a lot to use. Everyone wants to save money where they can, so here are a few tips to help you reduce your mobile bills.

The best way to save your money in mobile phone is to use prepaid mobiles. In postpaid you cant control your calls or other services. Prepaid service helps you in fixing the amount you spend on your mobile.

Calculate your usage and get a plan accordingly. Try to minimze the number of minutes you use your cell phone.

Do you really need to insure your mobile phone? Ask this question to yourself. If you have an expensive phone, then you can think of insurance.

Many people buy the unlimited texts packages thinking that it will save the money. But later they text others only because they havent sent many texts. Calculate the number of useful texts you send in a month in your text plan and then calculate the cost of the same number of texts without your text plan. then decide whether you want that plan or not.

Use the toll free numbers. For information service  many people call the numbers which charge them. Try the free numbers for your informations. Try google toll free number or free411, which are free and they even text you the informations you need.

Combine all the phone plans of your home, if possible. You can get cheaper plans by combining all your plans. Many companies offer discount for forming family plans. These plans also allows you cheap or free calls within your family and friends.

Avoid other services like GPS, ringtone’s games, streaming videos etc. these services may look cheaper but they will costlier if you add many together. Switch off your GPS if you are not using it. It will save your data.

If you travel a lot then get a roaming plan to avoid roaming charges. Roaming charges can be costly if you don’t select a proper plan and use your mobile out of your home coverage.

Tips for investing in Mutual Funds

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An investment made up of a pool of funds collected from many investors for the purpose of investing in securities like stocks, bonds, money market instruments etc. A mutual fund's portfolio is structured and maintained to match the investment objectives stated in its prospectus.In simple, a mutual fund is a professionally managed type of collective investment that pools money from many investors to buy stocks, bonds, short-term money market instruments, and/or other securities.

Its not a simple task. Deciding the best mutual fund is an important task. The first thing to decide is about the  purpose of the mutual fund like retirement, education, or any other purpose, as the level of risk is based on the purpose.

If your purpose is for retirement fund or capital gain then you can go for equity funds. Equity funds are not advised for long term. For retirement you can also go for other low risk investments, if you don’t want to invest in equity. But the longer you stay invested, the better return you get. An important point to note is that mutual funds are not risk free. It is adviced to read all the documents carefully before investing.

Think twice before you decide the plan. after you select the type of mutual fund, collect as much information as possible. Get the list of the companies and also get the prospectus. Befor inverting in a fund, read the prosectuse to find out how long the fund has been operating. Newly created or small funds sometimes have excellent short-term performance as these funds may invest in only small number of stocks. But as these funds grow larger and increase the number of stocks they own, each stock has less impact on the fund’s performance. You can get a better picture of a fund’s performance by looking at how the fund has performed over longer periods.

Fund charges investor fees and expenses. Get a clear picture of fees and associated cost, taxes for all funds and how they affect your returns. Ask all the doubts, terms and condtions before you invest your money.

Save money on gas

Everyone loves to go on road trip, but the increasing fuel cost can put a damper on your mood to drive long distances. Change in the way you drive can help you in saving your money.  There are many things you can do, aside from going out and buying a more fuel efficient car, that will help you tremendously to cut down your gasoline expenses. Many require only minor adjustments to your driving style. You don't need to just sit back and watch your wallet grow thinner and thinner. You can take action and learn how to get more miles for your dollar than ever before.

Use Brakes in the proper way

Brakes are your enemy (only in case of fuel consumption). A car consumes more gas when you step on the brakes. Use them properly. Try to reduce the number of times you step on them. With a good plan you can reduce the amount of brakes that you need to use.

Minimum Weight

It’s a simple logic. Try to reduce the weight of your car. Take out all the unwanted stuffs out of your car.  Your car should only have the things which are important. Carry only the basic emergency equipment and items you really need.

Avoid Air Conditioning

Many people don’t like this idea and it is cant be followed everywhere. But should be followed wherever possible. Also park your car in the shade, if possible. Air conditioning can lower your fuel economy by 10 percent to 20 percent.

 Drive Slowly

Try to drive slowly. It's a proven fact that driving fast will increase the drag (turbulence) and thus increase your fuel consumption. But the speed depends on different place. Its up to you to decide the speed. But also consider the place and the law.

Avoid Traffic

Try to avoid traffic times. Avoid heavy traffic and lots of traffic lights. The shortest route is not always the most fuel efficient if you have to stop a lot.

Gold: The best investment

A couple of weeks ago I said about the importance of gold as an investment. You can read it here. Do you know that the gold price is increased by $200 per ounce, thats an increase by 12.5%.

This increase is due to the shaky stock market. Gold moves opposite to the market. Its the safest investment. Now its getting close to $1750. I think for now it will not increase as it did in previous two weeks. It will move slowly and its the best time for people to buy gold. It will take another month to increase at that speed. You can buy gold bar or gold coins. I am happy that I invested in gold instead of shares.

Gold is consider as the best investment. It helps you during any crisis. Unlike shares and other type of investments, you dont lose anything in case of loss(which is not possible). You will have a minimum guaranteed amount.

TAX SAVING TIPS

Tax

The best approach to tax planning is to start early in the year. Some strategies can help you lower your taxes, sometimes by thousands of dollars. Some help you save time and money when preparing your tax return. Other strategies help you avoid costly penalties and interest on both federal and state taxes.

Contribute to retirement fund (401k): I always suggest people to contribute more towards the retirement fund as it’s a savings which will help you after your retirement, when you don’t have any income. If you're eligible, you can still contribute to an individual retirement account. Making a deductible contribution will help you lower your tax bill this year. Plus, your contributions will compound tax-deferred. It’s hard to find a better deal.

Child and education: You are allowed to deduct up to $1000 for each child under age 17. Child tax credits and education credits have been more generous in recent years.  That means more tax-savings opportunities for parents of children; especially those with dependents attending a college or university.You can deduct up to $4,000 for higher education tuition and qualifying fees.  This deduction is phased out starting at $80,000 for single filers and $160,000 for joint filers. If you're a working parent, and paying for the care of a dependent under the age of 13, then you may be eligible for the dependent care tax credit for all qualifying expenses.  In 2010, the maximum credit you can take is between 20 to 35% of qualifying expenses, with a deduction cap of $3,000 for one child and $6,000 for two children.

Business expenses (or employee expenses): Even if you don’t own a business, you may be are still eligible to deduct business (or profession) related expenses if you incure some expense for your job and your employer didn’t reimbursed your expense. For example, travelling expenses related to your job.

Home mortgage loan: The interest you have paid during the year on a home mortgage or a second home mortgage may be tax-deductible. Since home-loan payments are often a large expense, this deduction can amount to hundreds or thousands of dollars in savings. Only one second home or vacation home can qualify for a mortgage interest deduction. Stat property and real estate taxes are also deductible from your federal tax.

 

Defer income: If you have any income from any investments or incurred any expense related to it, you can claim them as a deduction.

TIPS FOR PRVIATE STUDENTS LOAN DEBT

Student Loan Debt

Student loan debt can be difficult to manage regardless if its federal student loan debt or private student loan debt, however private student loan debt often proves the most challenging because of the lack of repayment options and/or programs.Private student loans are much riskier. Private student loan debt is a problem for many college grads today.They’re just like credit cards. Even if they start at what seem like low rates, those rates can shoot up at any time, and the interest costs can quickly surpass whatever you borrowed to begin with. Also, they don’t have the borrower protections that come with federal loans. Here are some for private students loan.

Consolidate all your private loans (if possible)

Private student loan consolidation is very limited now. In fact most lenders are not doing private consolidation loans at all anymore. But if you can find a lender willing to consolidate your private student loans it may be a good deal. The consolidation will reset the term of the loan and this may reduce the monthly payment, which can be beneficial if you are having problems making your monthly payments (keep in mind however, this will increase the total interest paid over the lifetime of the loan). As the interest rates on private student loans are based on your credit score, you may be able to get a lower interest rate via a private consolidation loan if your credit score has improved since when you first obtained the loan.

Know Your Grace Period

Different loans have different grace periods. A grace period is how long you can wait after leaving school before you have to make your first payment. The grace periods for private student loans vary, so consult your paperwork or contact your lender to find out.  Don't miss your first payment.

Pick the Right Repayment Option

You need to analyze all your expenses and then select the payment option accordingly. Extending your repayment period beyond 10 years can lower your monthly payments, but you'll end up paying more interest over the life of the loan. One important option is the Income-Based Repayment program. It can cap your monthly payments at a reasonable percentage of your income each year, and forgive any debt remaining after 25 years of affordable payments.

Budget

To start, figure out your monthly income after taxes and any other deductions such as health insurance or retirement. This number is usually referred to as your “take-home” or net pay. Next, make a list of all expenses that you are required to pay, such as electricity, rent, your student loan payments, water, insurance, your car payment and gas, minimum credit card payments, and food. Make a second list of items that are not necessities, such as cell phone, cable, internet, additional loan payments,

5 Tips to Save Money and Get Out of Debt

Debt

Even in this period of economic turmoil, becoming debt free is absolutely possible. If you have guts to work out a comfortable payment plan with your creditors and can say no to unnecessary spending, the game can be yours. If you want to stay out of debt, you have to be disciplined, make a budget planning and do some sacrifices. If you begin with a few short goals and undertake some new habits, you will essentially become a debt free soul within a short period of time. To get the debt free status budgeting is far better tool than the so-called bankruptcy or debt settlement programs, which grab your leftover money instead of making you debt free. Below are a few tips to manage your finances more carefully and avoid falling debt.

1. Keep Track of Expenses with Budgeting and Expense Tracking Software: You can seek help from a plentiful of computer software programs that are easily available these days to track your expenses. Among these softwares, Quicken, Account Xpress and Budget Express are a few reliable one. These budgeting softwares will help you know better, where your money is going and where you have to cut back. Always keep an emergency fund for unexpected expenses like house repairs and medical costs.

2. Change Lifestyle to Reduce Expenses: If your income is a single penny and your monthly expense is a dollar, it is time to consider changing lifestyle and shed expenses, which are tempting debt. You can do so by either taking public transport or by giving up the extra cocktail before sleep.

3. Remain clear to yourself and Avoid Falling in Debt: The magnificent designer clock may seem urgent; however, you should avoid it as it is capable of driving you deeper toward debt. Know the difference between needs and wants, and avoid buying anything on impulse. Avoid using your credit cards anywhere and everywhere if it is not urgent. Always use cash while buying and erase any anxiety of accumulating too much debt.

4. Make a Grocery Budget and Stick to It: It is easier to stick to the food budget when each item is written down with prices included. If you do not know the prices, prepare a rough estimate and rectify the next time you visit the shop.

5. Cut Down on Take-out and Avoid Impulse Buys: Reduce buying prepared food, and instead of that cook homemade meals. If you are running short of time, prepare some of the meals before and freeze them so that those can be heated in the microwave when needed. Have some snacks while visiting muffins, apples or granola bars and avoid fast foods like donuts, fries or burgers.

Money Hack Tips

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We had already discussed about some money saving tips and I thought it will be good to discuss about more tips for saving money.

1.       Stay home: The more you stay at home the more you save the money. Enjoy your days in home. Stay in home during the weekends.

2.       Make a list: Stick a paper in your kitchen or bed room. Note down each and everything you want to buy. You can track your expenses. At the end of the month analyze it and check out the any unwanted expense.

3.       Wait for a week: If you want to buy something, wait for a week. In a week you can realize its importance. Another important point in waiting is that you won’t have the same excitement that you had a week ago but you will use it effectively.

4.       Avoid watching Advertisings: Don’t watch the advertisements. All kind of advertisements like  TV advertisements, email announcement, road side banners etc.  That will tempt you to buy a something you don’t want.

5.       Use cash: Use cash wherever possible. We have already discussed about the benefits of using cash for credit cards. Try to avoid cards as much as possible.

 

Fulfillment Provider – An easy business solution

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You may have started a business, but for the last week or so, you are unable to make any new customers for the last few days. Take the help of a nearest Fulfillment provider; they will help your business to go places. They work in a co ordinate process and on the concept of timely delivery of products or items. They operate in co ordination with ware houses. They ship products and through timely delivery, this makes them very must cost effective. It looks into various integral parts of business that involves the maintenance of a good customer relationship and also handling the work of shipping products.

They eventually manages the supply chain management system and also looking after marketing campaign’s at certain times, the nature of work of a Fulfillment provider

How they work – In general they work as a third party organization. In most cases the client companies hand over the duty and other charges, regarding order details. They timely deliver the goods. The fulfillment provider delivers the goods through proper shipping channels.

Types of Fulfillment Providers – Today you will find a number of fulfillment Provider

Annuity Calculator: Driving the Worries Miles away for the Retirees

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Are you tensed to know the amount that your annuity can pay off during your retirement days? Do you want to be more certain about your retirement investment? Then why don’t you try an annuity calculator? It is worth of providing you with the relevant answer you want.

These are generally of two types, such as: offline calculators and online calculators.

Where to find these calculators?

As the name suggest of online annuity calculator, it is very much available online. Many sites are available online which are offering these calculators. Pursuing help of leading search engines, you can easily find out the calculators you want. But, don’t forget to write the relevant keyword on which you want to make your search.

What are the benefits of online annuity calculator?

If want one can make these calculations on his own without borrowing help of these calculators, but its quite tough to do. Since, it involves much of mathematical calculations, chances of error increase. Spending your valuable time behind the calculation and at the end when you see that you have landed with a wrong outcome, it won’t be of any satisfaction for you. But, these calculators make error free results that too within twinkling of eyes. Without making much effort, you can get your answer that too free of cost. Isn’t it amazing?

What to do before selecting an annuity calculator?

It is a common tendency of people that while using these calculators,

Stop going Gaga for Gathering Information with an Equity Release Calculator

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If retirement days are about to take its strikes, it is your turn to reply back with all you have. You must be thinking that you don’t have much to support your livings after retirement. But, let me remind you that there is always a ray of hope in darkness, in your case equity release can make it for you. To know the amount that you can cash in through releasing equity on your property use an equity release calculator.

An equity release calculator endows you with the relief of calculating the estimated amount that you can free on equity just by sitting at your own place and clicking on the keys without any expense.

Yes, these calculators are very much available online. In order to get one of these calculators just you can surely take help of the leading search engines, such as: Goggle, yahoo and MSN.

Just by answering the relevant questions precisely which the calculator asks and it will accommodate you the desirable answer within a blink of an eye.

Student Loan – The Biggest Support to Education



Students loan



Every human being craves for a happy and secured life. The strategies vary from one person to another with the intention of assuring joy and happiness for lifetime. Education is the primary source that leads a human being to the paths of prosperity. Now, some are fortunate to pursue education by taking monetary assistance from their own parents while some are compelled to knock financial institutions for loans. Here comes the necessity and importance of student loans that can bear the cost of one’s education in order to let him climb the peak of success in time.

I still remember my days of hardships when I didn’t have a single penny to support my education. Moreover, the fees charged by the majority of schools and colleges then were extremely high. One of my friends suggested me to opt for student loans that worked wonders, and today I am successful.

Today, plenty of private and public organizations have been set up to provide monetary assistance to individuals striving to achieve their career objectives. The government student loans are best to go for since you are not required to pay interest which will be actually paid by your lending source. Therefore, Federal student loans can be a great option. What’s best about these loans is that they have low and fixed interest rates that can help one buy text books, pay tuition fees and manage accommodation.

Private student loans: A Shower of Bliss to ease the Burdens of Education

Are the increasing expenses in the field of receiving education turning into a burden for you? Are you thinking of pursuing financial assistance for continuing to your studies? Then private student loans are the best options for you.

Education builds the most important platform for you,standing on which you can free your flights of aspiration towards its dream destination. So, all the hurdles in its way must be broken off.

Private student loans are such financial assistance which not only helps you to complete your studies but also easy to access for all the students.

What are the types?

·        School-channel loans: In such cases, lender directly sends the money to the school authorities for paying the course fees of the students who is pursuing the loan.

·        Direct to consumer loans: Here, lender provides the amount direct to the consumer. The consumer later uses it according to his or her educational requirements.

What is the usage of private student loans?

·        These loans are generally borrowed for paying off the expenses of the fees charged by the educational institutes for obtaining quality education.

·        This can be also pursued for fulfilling other educational expenses than paying fees. Such as: a student can use it for buying books, laptops and other such accessories which is required for his or her studies.

·        This can be borrowed as assistance of paying off the debts of federal student loans as well.

What are the advantages of private student loans?

Cheap Auto Insurance: Escape Insecurities, Gaining Securities

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Life is full of insecurities and one must put some extra efforts in order to get rid of the existing uncertainties. Moreover, when you are too much dependent on brainless and heartless mechanical appliances, insurance is a must.

You may love your car and it makes your daily schedules so perfect for you that you cannot think to survive without it. You spent your hard-earned money for purchasing a car which can give you comfort as well as serves other purposes. So, why can’t you spend a little more for buying cheap auto insurance for availing a safe driving as well as secured future?

Think practically, suppose you are in a road-trip and your car collide with another vehicle. By god’s grace, your car saves you from being hurt but then you discovered your car got totally damaged. How can you recover this situation? In such circumstances cheap auto insurance can be of great help.

Sitting in an era of increasing economical value one cannot think of getting anything cheap. But, applying right tactics in right situations, one can get cheap auto insurance as well.

Buying foreign Currency: Say a Welcoming “Hello” to Good-luck

Luck enjoys full freedom. Sometimes, it can shower fortunate bliss on you or sometimes it can snatch all you have. But, we the human beings have sheer faith on luck, isn’t it? We love to try our luck for benefits. At least, if it doesn’t involve any harm, what is wrong about trying luck? If you believe that you are enough fortunate, I can suggest you a way which can bring shining luck upon you. Why don’t you try buying foreign currency? Let me help you with this.

Image via WikipediaMost of the people love buying foreign currency when they are in abroad for bearing their expenditures in that country. But, have you ever considered it as a profit-making business?

Let me help you with some guidelines for buying foreign currency.

Market condition: Since, you are going to buy a currency which is unknown to you, before making your investment a close study of its market value can be of benefits. You should know well for which you are investing your hard-earned money. If the currency has a good market scope of increasing its exchange value, don’t waste your time for purchasing because luck often gives you second chances.

Hire a dealer: A dealer can be of great help when buying foreign currency. They are the skilled person who has in-depth knowledge about the market condition of the currency as well as what to invest and how to invest! They can give answers to your questions about the currency, but, since it is an age of cheaters and treasons, before hiring such currency dealers don’t forget to check their legal and professional license (It’s necessary). If you are buying Iraqi currency, ask the dealer to show their license provided by the U.S. treasury Department and Better Business Bureau (BBB).

While buying foreign currency, it is better to stay secure for acquiring a good-luck.

Annuity Quotes: Guarantee Benefits for Retirees

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Is your retirement approaching? Busy in planning the life after retirement? Have you gone through analyzing different annuity quotes or still in a doubt how to commence on it? Let me help you in this case.

It is extremely essential for you to analyze on different annuity quotes not only because it’s a financial aid during your retirement days but also it allots complete security for your future when you cannot rely upon yourself for bearing your own expenses.

Let me guide you with a systematic way which will help you to compare different annuity quotes to get the best out of it.

Take your time for getting the best: As you come closer to the days of retirement, insecurities haunt your mind often and then. The common mistake that all makes during this time is: approaching their pension provider for getting annuities. Don’t be hurry because it can snatch your scope of getting far better option. Take your time analyzing different annuity quotes. Taking help of online sites can be of great benefits.

Seek expert advice: A financial advisor can really help you by making you aware of the different facts regarding annuities. As they know the market conditions well, they can suggest you the best plan. Online annuity specialist can really help you. In order to get their assistance, you just need to provide them with the following information, such as:

·        Your contact information

·        Gender and date of birth

·        Information about your monthly income

·        Deposit amount

As the annuity quotes vary depending upon the ups and downs of financial market condition, it is better to stay updated with the current economical situation. You must be aware of the fact that proper planning can bring you the security that you deserve in life. So, what are you waiting for, get planned for your retirement days now.

Gold as an investment

Image via WikipediaAmong all the prescious metal, gold is the most popular as an investment. Gold is used as an investment from years. Throughout the history of the human civilization, old has played an important role in the currency and trading activites. Gold helps you during major crisis. History is the evidence. In all the major crisis like world war, inflation period or any other economic crisis. Even when the stock exchange fails, gold helps you.

Gold helps you anytime. It can be bought and sold anytime you want. If you don’t wanna sell your gold, you can get a gold loan. The increase in th price of the gold will be more than the interest you pay.

My dad gave me some money to buy a new car when I was in the first year of the college in 2007. But I bought 20 pounds of gold instead of a car. I got a gold loan for that 20 pounds of gold and bought another 10 pounds of gold from the loan amount. Today the value of the gold I have is more than three times the amount I paid for those 30 pounds. That day the only thing I thought was that if I buy a car then I will pay three times the value of the car untill in the next 4 years on gas, service and maintainence( the four years for my graduation). 

 The price of the gold depends on some reasons like demand, central bank, industral needs, short selling, war or national emergency etc. the interest rate of the central bank and the price of the gold are interdependent. When the interest rate increases the gold price decreases and decrease in interest rate will increase the gold price.

The most traditional way of investing in gold is buying gold bars. Another way is to buy gold coins. The gold bar genrally carries lower price premium then the gold coins. But the gold bars carry risk of forgery due to their less stringent parameters for appearance. Buying jewelleries is another type of investment. It can be considered as a investment as well as a form of adorment.

For gold investors, gold certificate helps to avoid risk and cost associated with the transfer and storage of the physical bullion. Bank may issue gold certificate for allocated and unallocated gold. Unallocated gold certificates are a form of fractional reserve banking and doesnot guarantee an equal exchange for metal in the event of a run on the issuing bank’s gold issuing.

Many bank offers gold different kind of gold loan where gold can be bought and sold like a currency. People has to pay tax at some percent of their profit to the government. The percentage depends on their investment. From January 1, 2012, all the purchases that exceeds $600 per year will be required to fill IRS tax form 1099 due to section 9006 of the U.S Patient Protection and Affordable Care Act.