Week 8 of Finance 3060 included Chapter 10 about Managing Property and Liability Risk and Jim Boyd as a guest speaker. We covered the steps in the risk management process and how to handle risk. The chapter consisted of home owner's insurance and car insurance. We discussed the different types of home owner's plans and what your home owner's policy means. I took another look at my home owner's policy and am now able to understand the specific parts of the policy much better. We also covered car insurance. I was not clear on the difference between the bodily injury part of the PAP and the property damage part. I do understand these aspects of my car insurance policy now. One of the most interesting parts of the chapter was the umbrella policy. This is an insurance policy that covers loss past what your regular policy covers. I was not familiar with this type of policy before this class. I will definitely considered getting an umbrella policy when my children are old enough to drive. (Thankfully we are not ready for that.) On Thursday of week 8 Jim Boyd from the LSU Department of Finance spoke to our class. Dr. Boyd teaches a risk and insurance class at LSU. He spoke to our class about auto insurance. He covered a lot of interesting information about car insurance. He also gave us links to useful websites to gather more information about car insurance in Louisiana. I plan to use some of the links Dr. Boyd provided to shop for car insurance and determine if the policy I have works best for me.
The article that I chose for week 8 is called "Tax Credits for Families" from www.investopedia.com. This article included topics such as the child tax credit, child and dependent care credit, exemptions, and American Opportunity Credit. Most of these credits and exemptions are familiar to me. The one that I was most interested in was the child and dependent care credit. As I stated in a previous post, this year is the first year my children go to daycare. The article stated that you are allowed to file for a credit of up to 35% of the annual child care cost or up to $3,000 for one child. I will consider this credit next spring when filing my 2013 tax return.
The article that I chose for week 8 is called "Tax Credits for Families" from www.investopedia.com. This article included topics such as the child tax credit, child and dependent care credit, exemptions, and American Opportunity Credit. Most of these credits and exemptions are familiar to me. The one that I was most interested in was the child and dependent care credit. As I stated in a previous post, this year is the first year my children go to daycare. The article stated that you are allowed to file for a credit of up to 35% of the annual child care cost or up to $3,000 for one child. I will consider this credit next spring when filing my 2013 tax return.
| tax_credits_for_families.pdf |
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