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Liz Weston

Q&A: How to find an accountant and a financial planner

February 8, 2021 By Liz Weston

Dear Liz: Can you offer advice on finding the right accountant for someone doing taxes for the first time after divorce? My husband always handled this. Also, same question for a financial planner for a newly divorced person? It’s all so overwhelming.

Answer: It is, and you’re smart to reach out for help.

You might consider hiring a personal financial specialist. This is a designation earned by CPAs who handle not just taxes but financial planning as well.

A CPA-PFS is a fiduciary, which means they’re committed to putting your best interests first. Also, many are working virtually now because of the pandemic, so you should be able to find several candidates to interview even if you live in a more remote area. You can start your search at the website of the American Institute of Certified Public Accountants.

Filed Under: Banking, Q&A Tagged With: accountant, financial planner, q&a

Thursday’s need-to-know money news

February 4, 2021 By Liz Weston

Today’s top story: How to prioritize debt payments in the pandemic. Also in the news: The fairness of airline fees, the influence of 2020 on investing, and how to avoid paying certain car dealership fees.

How to Prioritize Debt Payments in the Pandemic
The rules have changed.

Ask a Travel Nerd: Are Airline Fees Fair?
The process of buying a plane ticket can be misleading because you aren’t shown all of the fees upfront.

Will 2020 Make Us More Empathetic Investors?
Investment dollars can make an impact, so be sure your impact is a good one.

Avoid Paying These Car Dealership Fees
Know which fees you have to pay, which ones you can negotiate, and which ones you can avoid altogether.

Filed Under: Liz's Blog Tagged With: airline fees, car dealership fees, debt, empathy, Investing, pandemic

Wednesday’s need-to-know money news

February 3, 2021 By Liz Weston

Today’s top story: 6 rules for first-time car buyers. Also in the news: Buzzy banking apps for kids and teens, getting your bank accounts in order for 2021, and knowing your COVID mortgage forbearance rights.

6 Rules for First-Time Car Buyers
Break it down into an orderly process: budgeting, financing, choosing a car and then negotiating a clean deal.

Buzzy Banking Apps for Kids and Teens
Developing good money habits early.

Get Your Bank Accounts in Order With These 2021 Resolutions
Streamlining for the new year.

Know Your COVID Mortgage Forbearance Rights
How to report an unscrupulous lender.

Filed Under: Liz's Blog Tagged With: banking, banking apps for kids, car buyers, COVID mortgage forbearance rights, first-time car buyers

How to prioritize debt payments in the pandemic

February 3, 2021 By Liz Weston

A singular crisis has led to extraordinary relief options for borrowers. Interest and payments have been paused on federal student loans. Homeowners can request nearly a year of mortgage forbearance. Credit card issuers and other lenders dramatically expanded hardship programs.

Still, many Americans say they took on more debt last year because of the pandemic, according to NerdWallet’s household debt survey.

If you are one of them, or if you have other household debt that’s been put on hold, you may not want to rush to pay that money back even if you can. In my latest for the Associated Press, how to be strategic when dealing with pandemic-related and other debt.

Filed Under: Liz's Blog Tagged With: consumer debt, debt, pandemic

Tuesday’s need-to-know money news

February 2, 2021 By Liz Weston

Today’s top story: 3 things to know if you’re new to gig work. Also in the news: How to craft smarter money goals in 2021, the do’s and don’ts of getting and using a paycheck protection program loan, and 5 steps you can take to pay off consumer debt.

3 Things to Know if You’re New to Gig Work
To the IRS, you’re a small business.

How to Craft Smarter Money Goals in 2021
The pandemic has changed everything.

The Do’s and Don’ts of Getting, Using a Paycheck Protection Program Loan
Best practices that can help small businesses owners get their PPP loan funded and forgiven.

5 steps you can take to pay off consumer debt
Creating the right plan.

Filed Under: Liz's Blog Tagged With: consumer debt, debt, gig work, money goals, pandemic, paycheck protection program loan, tips

Monday’s need-to-know money news

February 1, 2021 By Liz Weston

Today’s top story: How insurance fraud costs you money. Also in the news: A new episode of the Smart Money podcast on lottery winners and what to do with extra COVID cash, how to decide if your first house should be a condo, and how to choose your ACA plan.

How Insurance Fraud Costs You Money
Insurance fraud adds an extra $400 to $700 to your premiums every year and costs about $80 billion overall.

Smart Money Podcast: Jackpot Windfall and Extra COVID Cash

Should Your First House Be a Condo?
A condo can make a great starter home, but weigh the pros and cons of buying a condo vs. a house to decide whether it’s right for you.

How to Choose Your Obamacare Plan
Finding the right amount of coverage.

Filed Under: Liz's Blog Tagged With: ACA, condo vs house, extra cash, health insurance, insurance fraud, lottery winners, obamacare, Smart Money podcast

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