Ask Kim

Ask Kim

Kim Lankford answers your questions about managing money -- specifically, insurance and taxes -- twice a week.

May 25, 2018

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.

See More On: Paying for College | Estate Planning

April 11, 2018

Calculating Taxes on Social Security Benefits

Uncle Sam can tax up to 85% of your Social Security benefits if you have other sources of income, such as earnings from work or withdrawals from tax-deferred retirement accounts.

See More On: Social Security | Making Your Money Last | Tax Planning

May 9, 2019

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.

See More On: Auto Insurance

May 9, 2019

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.

See More On: 529 Plans | Paying for College

May 9, 2019

Getting Out of an RMD Penalty

When your brokerage firm miscalculates your required minimum distributions, you have recourse.

See More On: IRAs | Saving for Retirement

May 9, 2019

Credit Report Error? They All Matter

Don't dismiss a minor error. It could be the sign of something more serious.

See More On: Credit Reports & Scores | Family Finances

April 4, 2019

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.

See More On: Travel | Making Your Money Last

April 4, 2019

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.

See More On: 401(k)s | Family Finances

April 4, 2019

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.

See More On: Family Finances | Paying for College

March 29, 2019

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.

See More On: Saving for Retirement | 401(k)s | Financial Planning

March 26, 2019

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 account to reimburse yourself for them.

See More On: Medicare

March 22, 2019

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.

See More On: Required Minimum Distributions (RMDs) | IRAs | Tax Planning

March 21, 2019

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.

See More On: Travel

March 14, 2019

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.

See More On: Health Care & Insurance | Tax Breaks | Tax Planning

March 13, 2019

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.

See More On: 529 Plans

March 8, 2019

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 change.

See More On: Making Your Money Last | Employee Benefits | Financial Planning

March 7, 2019

What’s the Best Medigap Policy

All plans with the same letter have the same coverage, but prices can vary by company.

See More On: Health Care & Insurance | Family Finances

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