Knowing the ins and outs of Social Security retirement benefits rules can help you claim a bigger check. Yet some facts about the program continue to trip up pre-retirees. Here’s where respondents to a recent quiz tended to stumble. Take...
When you're trying to buy a home, it's best to make a 20% down payment. Doing so allows you to avoid having to buy private mortgage insurance (PMI). PMI ensures lenders don't end up with out-of-pocket losses if they have...
Decisions, decisions. Many of the key questions you will face over your lifetime deal with money issues. Good choices can pay off handsomely over time, lifting you up the wealth ladder. Bad judgment calls can condemn you to years of...
Mortgage forbearance offered much-needed relief to millions of homeowners during the coronavirus pandemic, but now many borrowers are leaving the programs. The CARES Act established forbearance programs last year for federally backed mortgages, but private lenders and servicers often provided...
Student debt relief has helped millions of Americans during the pandemic. Since March 27, 2020, federal student loan interest rates have been set to 0% and payments have been paused. But the policy is currently set to expire on Oct....
Unclear IRS guidance regarding how long beneficiaries are required to take payouts from inherited IRAs continues to bedevil estate and retirement planning. At the heart of the matter is the IRS’s new guidance, Publication 590-B, which seems to indicate that...
Investing nearly $20,000 per year can equal a lot of money when it comes time for you to retire decades in the future. Most people are allowed to contribute up to $19,500 to their 401(k) in 2021, but the limit...
Whether you're gearing up to apply for a mortgage or you simply want to give yourself a financial checkup, it's a good idea to check your credit report. You actually have three different reports, one for each of the three...
Did you trade or sell Bitcoin, Ether, or other digital currencies in 2020? If so, you’ll have information you need to report on your tax return. With the tax deadline rapidly approaching, TaxBit’s CPAs and tax attorneys are breaking down...
More than 2 million homeowners who thought they couldn't afford to refinance their mortgages — which can provide huge savings over time but takes a bit of cash upfront — can now get a cheaper loan through a new government...
Having a 401(k) is one thing. Making the most of it is another. One of the best things you can do for your financial future is to ensure you're getting all that you can out of your employer-sponsored plan. Here,...
Last year, when the coronavirus outbreak first hit hard, the IRS was quick to respond by postponing the 2020 tax-filing deadline from April 15 to July 15. At a time when so many people were losing their jobs and dealing...
Taxes are a fact of life, and so are annual changes in how you file and calculate your federal income tax. But the coronavirus pandemic will mean even more than the usual yearly surprises when you sit down to do...
Some tax law changes may retroactively affect your taxes – to your benefit. Find out if and when you should amend and refile your taxes. You pay income and capital gains taxes on any income earned or gains received, respectively....
When it comes to choosing a retirement plan, you have options. You can sign up for your employer's 401(k) and have funds deducted automatically from your earnings each pay period. Or, you can open an IRA, which is a good...
