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Kiplinger's Personal Finance
As the "Ask Kim" columnist for Kiplinger's Personal Finance, Lankford receives hundreds of personal finance questions from readers every month. She is the author of Rescue Your Financial Life (McGraw-Hill, 2003), The Insurance Maze: How You Can Save Money on Insurance -- and Still Get the Coverage You Need (Kaplan, 2006), Kiplinger's Ask Kim for Money Smart Solutions (Kaplan, 2007) and The Kiplinger/BBB Personal Finance Guide for Military Families. She is frequently featured as a financial expert on television and radio, including NBC's Today Show, CNN, CNBC and National Public Radio.
Singles don't have to pay taxes on up to $250,000 in profits on the sale of their home, and couples can shelter twice that amount from taxes. But even if the gain is much higher, there are ways for home sellers to minimize the tax bite.
See More From: Ask Kim
When searching for a 529 college-savings plan for a grandchild, first check whether your state offers a tax break for your contributions.
The tax deadline is just days away, but you still have time to reduce your tax bill or help a young worker get a jump-start on saving for retirement if you contribute to these five tax-friendly accounts.
As much as 85% of your Social Security benefits could be taxable if you have other sources of income, such as earnings from work or withdrawals from tax-deferred retirement accounts.
Even if you have a qualified health insurance policy only for a few months out of the year, you can still make a tax-deductible contribution to a health savings account.
Many records are no longer needed three years after filing your tax return, but you may have to keep documents involving the purchase of a house or investments for years longer.
You can still recharacterize a Roth contribution and move the money to a traditional IRA.
Premiums keep rising, but you may need a policy more than ever.
See More From: Long-Term Care Insurance
If you (or your teenager) often drop or misplace your cell phone, it may be worth it to buy coverage along with the phone.
If you have a refund check coming your way, consider using it to bolster your personal balance sheet. The average refund is usually around $3,000, and most people receive the money within three weeks of ...
See More From: Family Finances
Usually, you can wait until April 1 to take your first RMD. But the deadline falls on a holiday weekend this year, so you'll need to act sooner.
The new tax law expanded the definition of eligible expenses for 529s. In addition to ...
See More From: Paying for College
It's not too early for kids with part-time or summer jobs to contribute to a Roth IRA. Even a small investment now can turn today's teen into a millionaire by retirement.
In April, Medicare will start mailing new cards that don't disclose Social Security numbers. But the rollout will take a year.
If leaving a job means losing your health insurance, you can get coverage through a government health care exchange or another insurer, or you can stick with your employer's plan for up to 18 months.
Why you might want to hold on to that account.
Using a new measure of inflation, the IRS has reduced the amount that people with family medical coverage can contribute to a health savings account in 2018.