Monday’s need-to-know money news

Today’s top story: You can now pause 2 student loan payments. But should you? Also in the news: A new episode of the SmartMoney podcast on the coronavirus, why you should be the friend who talks about money, and how long you should keep your tax documents. You Can Now Pause 2 Student Loan Payments, […]

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Q&A: Reducing taxes in retirement

Dear Liz: I agree with this concept of delaying Social Security to lessen overall taxes and have a further suggestion. My spouse and I are gradually converting our traditional IRA account funds to Roth IRAs. The converted funds are immediately taxable but could continue to gain in value and future distributions would not be taxable. […]

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Q&A: The value of waiting

Dear Liz: This is a follow-up question to one you recently answered about tapping 401(k)s in order to delay the start of Social Security. I am 63 and retired early with a good pension that fully covers my basic living expenses. Any additional money would only be “gravy” for vacations and travel. Would I be […]

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Q&A: Now is a good time to get a financial tuneup. Here’s how

Dear Liz: I’m hoping you could provide recommendations, referrals or tips on how to help me manage my money. I’m seeking a financial planner who can help me pay my bills on time, learn to budget and pay off credit card debt. Answer: When you’re struggling with the basics, a financial fitness coach or an […]

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Friday’s need-to-know money news

Today’s top story: The IRS’ new tax-filing deadline is July 15th. Also in the news: Tax traps that side hustlers should avoid, what not to do when spring cleaning your finances, and what you need to know about the Families First Coronavirus Response Act. The IRS’ New Tax-Filing Deadline Is July 15. Here’s What to […]

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Thursday’s need-to-know money news

Today’s top story: Relief checks may be coming, but scammers are already here. Also in the news: 3 ways credit cards can help you ride out a crisis, your student loan bill is still due during a pandemic, and how to save energy while you’re stuck at home. Relief Checks May Be Coming, but Scammers […]

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Wednesday’s need-to-know money news

Today’s top story: IRS tax payments are now due in July. Here’s what that means for you. Also in the news: Taking your banking online during social distancing, why a used EV should be your teen’s first car, and what to do about your rewards travel plans. IRS Tax Payments Are Now Due in July. […]

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Tax traps that side hustlers should avoid

Millions of Americans earn extra money outside their regular jobs — as ride-hailing drivers, Airbnb hosts, eBay sellers and freelancers of all kinds. Their side hustle income may help make ends meet, but it also can create tax traps. Side gigs usually count as self-employment, which triggers different rules, additional tax forms and plenty of […]

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Tuesday’s need-to-know money news

Today’s top story: Even in a financial crisis, you have options. Also in the news: When will it make sense to travel again, robo-advisors bring access to a new crop of investors, and Apple Card will let you skip a payment this month. Even in a Financial Crisis, You Have Options Take a deep breath. […]

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