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How to Report an IRA Charitable Distribution on Your Tax Return
How to Report an IRA Charitable Distribution on Your Tax Return
Your IRA administrator will send you a 1099-R, noting your entire distribution; you need to report it to Uncle Sam — and call out what portion was use…
March 23, 2021
Withholding Taxes From Social Security
Withholding Taxes From Social Security
Older taxpayers can avoid a big bill at tax time or a penalty for underpaying taxes by having the government withhold taxes from their Social Security…
March 23, 2021
How to Fund a Memorial Scholarship to Honor a Veteran
How to Fund a Memorial Scholarship to Honor a Veteran
With the help of a college or community foundation, you can establish a scholarship in the name of a loved one to help students in perpetuity.
May 24, 2020
How to Endow a Scholarship to Honor a Veteran
How to Endow a Scholarship to Honor a Veteran
You may be able to set up a scholarship fund through a college or community foundation, or support educational programs through a charity that special…
May 24, 2020
Health Savings Account Limits for 2019
Health Savings Account Limits for 2019
Make sure your health insurance meets deductible limits and other requirements if you want to save money in a tax-advantaged HSA in 2019.
October 1, 2019
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Social Security Benefits to Increase 2.8% with 2019 COLA Adjustment
Social Security Benefits to Increase 2.8% with 2019 COLA Adjustment
While recipients will get a cost-of-living adjustment, workers will have more of their income subject to the Social Security tax.
July 17, 2019
Credit Report Error? They All Matter
Credit Report Error? They All Matter
Don't dismiss a minor error. It could be the sign of something more serious.
May 9, 2019
Insurance for a Learning Driver
Insurance for a Learning Driver
Adding a teen driver to your plan will raise premiums, but there are things you can do to help reduce them.
May 9, 2019
Getting Out of an RMD Penalty
Getting Out of an RMD Penalty
When your brokerage firm miscalculates your required minimum distributions, you have recourse.
May 9, 2019
529 Plans Aren’t Just for Kids
529 Plans Aren’t Just for Kids
You don’t have to be college-age to use the money tax-free, but there are stipulations.
May 9, 2019
When to Transfer Ownership of a Custodial Account
When to Transfer Ownership of a Custodial Account
Before your child turns 18, you should check with your broker about the account's age of majority and termination.
April 4, 2019
Borrowers Get More Time to Repay 401(k) Loans
Borrowers Get More Time to Repay 401(k) Loans
If you leave your job while you have an outstanding 401(k) loan, Uncle Sam now gives you extra time to repay it -- thanks to the new tax law.
April 4, 2019
When It Pays to Buy Travel Insurance
When It Pays to Buy Travel Insurance
Investing in travel insurance can help recover some costs when your vacation gets ruined by a natural disaster, medical emergency or other catastrophe…
April 4, 2019
It’s Not Too Late to Boost Retirement Savings for 2018
It’s Not Too Late to Boost Retirement Savings for 2018
Some retirement accounts will accept contributions for 2018 up until the April tax deadline.
March 29, 2019
How Your HSA Can Reimburse You for Medicare Premiums Paid
How Your HSA Can Reimburse You for Medicare Premiums Paid
Even if your Medicare premiums are automatically deducted from your Social Security check, you can take tax-free withdrawals from a health savings acc…
March 27, 2019
How to Correct a Mistake on Your RMDs from IRAs
How to Correct a Mistake on Your RMDs from IRAs
If you didn't take out the correct required minimum distribution because your brokerage firm made a mistake, the IRS may show some leniency.
March 22, 2019
What Travel Insurance Covers When Planes Are Grounded
What Travel Insurance Covers When Planes Are Grounded
Your travel insurance might help with some costs if your trip was delayed because of the recent grounding of Boeing 737 Max planes.
March 21, 2019
Ways to Spend Your Flexible Spending Account Money by March 15 Deadline
Ways to Spend Your Flexible Spending Account Money by March 15 Deadline
Many workers will be hitting the drugstore in the next few days to use up leftover flexible spending account money from 2018 so they don’t lose it.
March 14, 2019
Paying for Continuing Education With a 529 Plan
Paying for Continuing Education With a 529 Plan
You don’t have to pursue a college degree to be able to use tax-free money from a 529 college-savings plan to pay for classes.
March 13, 2019
Making the Most of a Health Savings Account Once You Turn Age 65
Making the Most of a Health Savings Account Once You Turn Age 65
You’ll face a stiff penalty and taxes if you tap your health savings account for non-medical expenses before the age of 65. After that, the rules chan…
March 8, 2019
What’s the Best Medigap Policy
What’s the Best Medigap Policy
All plans with the same letter have the same coverage, but prices can vary by company.
March 7, 2019
Credit Freezes Aren't Foolproof
Credit Freezes Aren't Foolproof
Why you should still be periodically checking all three credit reports.
March 7, 2019
Using a 529 Plan for High School
Using a 529 Plan for High School
You’re now able to withdraw up to $10,000 tax-free from a 529 plan each year for K-12 tuition.
March 7, 2019
Reporting Charitable IRA Distributions on Tax Returns Can Be Confusing
Reporting Charitable IRA Distributions on Tax Returns Can Be Confusing
Taxpayers need to be careful when reporting charitable gifts from their IRA on their tax returns, or they may end up overpaying Uncle Sam.
March 6, 2019
When You Can Expect to Receive Your Tax Refund
When You Can Expect to Receive Your Tax Refund
The quickest way to receive your tax refund is to file electronically and have the money directly deposited into your bank account.
March 2, 2019
Make the Most of the New Military Retirement Plan
Make the Most of the New Military Retirement Plan
The government is offering a new retirement option so that service members who leave the military before qualifying for a pension can still receive so…
February 26, 2019