Visit A Nearby National Park

A great vacation resource that’s often overlooked, the nearly 400 national parks across the U.S provide fantastic opportunities to experience the outdoors. Certain states offer better selections than others (as well as fewer weather concerns), but many parks offer overnight options that range from free to very affordable. Some of the lesser known, but utterly amazing destinations include Biscayne National Park in Florida (especially if you love snorkeling or scuba) and Isle Royale National Park in Michigan on Lake Superior (where you can take a boat tour around some of the park’s 400 satellite islands, or take a backcountry camping trip).

Courtesy: National Park Service

Take A Trip Into The City

Live in the ’burbs or a bedroom community? A low-cost travel option is right in your backyard. A trip into the nearest big city is an oft-overlooked adventure. Consider it an opportunity to see the sights and do the “touristy” stuff you’ve never done. Check out museums, parks, new restaurants, and enjoy accommodation at a nice hotel. When you can slash your transportation costs, you provide yourself with more money in the budget to spend at your destination.

Visit An Indoor (Or Outdoor) Water Park

This could be one of the best child-friendly vacations around. What kid doesn’t love a water park? Indoor water parks are popping up all over the U.S. and Canada and provide a great experience at very reasonable costs, so they’re available no matter what the season. Most of the indoor parks are in cold weather states, and the competition for business benefits tourists through lower rates. Great Wolf Lodge, for example, owns a chain of 12 indoor water parks throughout the country with rooms as low as $89 for a weekday night.

Road Trip!

How about just hitting the road for a week and see where the highway takes you?

There are lots of “undiscovered” destinations all across the country, so why not discover them yourself? It’s a vacation you can take with your pals, family, or your significant other. In fact, a road trip can be a romantic, old school way of reconnecting, and reducing expenditures. Set out with a particular location in mind, or let the thrill of the unknown be your entertainment, and just start driving. Eat at local diners when you’re hungry; sleep at comfortable motels or inns when you’re tired.

These four options are just a few budget vacation ideas. Where you live will determine what the real possibilities are, so get inspired and be creative!

1. Haitian relief donations are deductible – Must be made between 1/12 and 2/28.  For donations under $250, you need a bank record or a receipt from charity as proof.  For donations over $250, a receipt from the charity is required.  For donations made by phone or text message, the IRS says a service provider bill showing the name of the charity, the donation date, and the amount will suffice. As usual, you must itemize your taxes in order to be able to deduct charitable contributions.
2. The Making Work Pay credit is even available for the self-employed - It can be as much as $400 for an unmarried worker or $800 for a married joint-filing couple.  You’ll need to fill out the new Schedule M, and file it with your 2009 Form 1040 (entering your eligible MWPC amount on line 63).  If your income is too high however, the MWP credit is phased out.
3. Non-itemizers get an extra standard deduction – If you don’t itemize deductions, you may still be entitled to an additional standard deduction amount.  (The standard deduction is $5,700 for singles and $11,400 for married joint-filing couples, and $8,350 for heads of households.) You’ll need to fill out the new Schedule L to claim the bonus.  Here’s how it works:
   • There’s an additional standard deduction of up to $500 for state and local real property taxes (or up to $1,000 if you’re a married joint filer). The extra deduction cannot exceed the real estate taxes you paid last year.
   • If you purchased a qualifying new vehicle between Feb. 17, 2009 and Dec. 31, 2009, you can claim an additional standard deduction for the state and local sales and excise taxes. You can only count taxes on the first $49,500 of a vehicle’s purchase price, but you can benefit more than once if you bought more than one vehicle during the window period. (This break is also phased out if your income is too high.)
4. You can claim an additional standard deduction for personal casualty losses in federally designated disaster areas.
5. Tax breaks for supporting struggling relatives – This good deed will not be punished by the IRS. In fact, you may benefit from helping out a financially struggling relative last year. The potential tax breaks range from being able to claim head-of-household filing status (if you’re single) to a $3,650 dependent exemption deduction, to a medical expense write-off.
6. Deduct job search expenses – This is not exactly new, but it may be for many unemployed Americans filling out tax forms this year.  If you itemize deductions, you may be able to write off expenses incurred for a job search on your Form 1040.

Improve Your Home On The Cheap

1. A Killer Kitchen

You’ll hear it time and again – what homebuyers are looking for is a nice kitchen and a nice bathroom. And according to the National Association of Realtors, the kitchen is the single most important room for most prospective home buyers. Kitchens can be expensive – it just depends how crazy you want to get decking it out. But for just $1,000 you can add some significant “wow”. Here are some simple renovations you can do:

Refacing or refinishing your cabinets – You can replace your cabinet doors and get a whole new cabinet look without all the demolition. You could also refinish wood cabinets by stripping the old paint or varnish and applying new. Project cost – a couple of hundred dollars.

Countertops – Change your counters to a nice granite or formica for between $40 and $60 a square foot. Check out discount suppliers for sales and look for remnants. Stainless steel can also be affordable, and can add a contemporary look to your space.





Create a Killer Kitchen



Paint – The cheapest way to re-do any room is to paint. The average gallon of paint is about $25 (but if you want to be health-conscious, low or no VOC paint is closer to the $40/gallon range). It should cost you about $100 to paint an average-sized kitchen. You can do-it-yourself, or if you hire a contractor – many can get you a discount on paint through their supplier.

Appliances – Switch to energy-efficient appliances and upgrade your kitchen’s appearance. Bonus: savings on your monthly utility bill.

The Little Things – Small changes like cabinet knobs and drawer handles, or even faucets are cheap, and can make a big splash.



2. Bump Up Your Bathrooms

Bathrooms are second only to kitchens in adding value to your home. A re-vamped bath can give you an 80-90% return on your investment. And there are a bunch of cheap things you can do to remodel a restroom and boost your home’s value:

Tile, Tile, Tile – Ceramic tile is popular and can be found for as little as $1- $2 per square foot. Tiling yourself can be a slight learning curve, but it can be done. Otherwise, you could find an independent contractor on Angie’s List or Craigslist. Just be sure to check references.

Sink Solutions – Like in the kitchen, changing out countertops or hardware can go a long way. The vanity is named that way for a reason! Be sure yours stands out and looks pretty with new granite or marble, unique sinks, upgraded faucets, or freshly painted cabinets. New counters can be done for around $500, and along with small pieces you can easily come in under $1000.




Boost Your Bathroom's Appeal





3. Eye-Catching Curb Appeal


You never get a second chance to make a first impression, so when a potential buyer walks up to your home, he/she better like what they see. Oft-neglected, but easily remedied, curb appeal can get you major bang for your buck.

Deck It Out – Building a wood deck in the backyard extends your home’s outdoor living space. Supplies will cost under $1000, and if you’re handy, your costs end there. But if construction isn’t your expertise, you may have to spend a bit more to hire someone who knows what they’re doing.

Make A Grand Entrance – You can’t go wrong with greenery. Buyers are enchanted by attractive plants, flowers, and garden furniture such as wooden benches, chairs or patio tables. Mood lighting and other homey additions will cost you only a few hundred dollars, and set the stage for a sell.

Time To Buy Into The American Dream?

First-Time Homebuyer

Amount of Credit:

10% of purchase price or $8,000 whichever is less

Eligibility:

Has not owned principal residence for the 3 year period prior to purchase

Income Limits

$125,000 – Single; $225,000 – Married

Maximum Cost of the Home

$800,000

Credit Expiration

Must open escrow by April 30, 2010

Payback of Credit

The tax credit does not have to be repaid if the home is used as a principal residence for 3 years.

Repeat Buyer

Amount of Credit:

10% of purchase price or $6,500 whichever is less

Eligibility

Must have lived in current home for 5 consecutive years out of the last 8 years

Income Limits

$125,000 – Single; $225,000 – Married

Maximum Cost of the Home

$800,000

Credit Expiration

Must open escrow by April 30, 2010

Payback of Credit

The tax credit does not have to be repaid if the home is used as a principal residence for 3 years.