Dear Liz: I’m 65. Can I use a health savings account to pay my Medicare premiums? I do not collect Social Security yet. Answer: If you already have an HSA, then yes, you can make tax-free withdrawals from it to pay your Medicare premiums. Once you enroll in Medicare, though, you won’t be able to make further […]
Recent Blog Posts
Q&A: Beware of transferring a home’s title before death
Dear Liz: I am in my late 70s. My husband is in his mid 80s and in poor health. Are there advantages to transferring the title to our house into my name alone so I can be the sole owner? Answer: Owning the house solo could make it easier for you to sell or refinance without your […]
Q&A: Grandparent’s generosity could affect financial aid
Dear Liz: You wrote in a recent column that grandparents could pay tuition directly to a school, and it would not trigger a gift tax return. That’s true, but my daughters have told me — and two private, expensive, and not excessively generous universities have verified — that my paying $20,000 in tuition would decrease my […]
Q&A: How are you taxed if you work abroad?
Dear Liz: It has become difficult to find good employment in my field. I’ve been able to find several openings that sound exactly like what I want outside the U.S. If I successfully apply for a position in a foreign country, it could mean paying income taxes into both the U.S. system and the foreign country. […]
Q&A: What can be done with unused 529 funds?
Dear Liz: My parents set up 529 college savings accounts for my niece and nephew. The accounts are now quite substantial. My nephew chose to go to community college for his freshman year, and seems to be leaning toward not continuing in college. If he chooses to go to a trade school instead of college, can […]
Q&A: Should I take a bridge loan to build an ADU?
Dear Liz: We live in a high fire risk area and feel it is too risky to keep our home. Our daughter and her husband invited us to build an accessory dwelling unit on their property. With the tariffs, it is estimated the construction will cost about $600,000. We have a nest egg of about $1.3 […]