Dear Liz: You recently answered a reader whose check to the U.S. Treasury had been stolen and forged to another recipient. You suggested sending electronic checks instead. However, our accountant gives us forms that I thought needed to be included with a paper check to ensure the correct accounting of our taxes. Can we just send […]
Recent Blog Posts
Q&A: I’m 59 with no retirement savings. What now?
Dear Liz: I’m 59. In 8 years, I will qualify for an average Social Security income. I have no retirement saved and am not a homeowner but I have been blessed with a modest inheritance. What financial advice would you give in this situation? Answer: The most powerful action you can take for your future retirement is […]
Q&A: How to avoid or reduce taxes on required minimum distributions
Dear Liz: I’m confused about required minimum distributions from my retirement accounts. I’d like to avoid taxes on my withdrawals, but it seems there is no way to avoid them. Please give me some guidance. Answer: If you got a deduction for contributing this money, and you want to keep the funds you’re required to withdraw, then […]
Q&A: Mistaken HSA withdrawal is fixable until April 15
Dear Liz: I need some help understanding health savings account distribution rules. I was injured and bought medical supplies with my credit card, then reimbursed myself from my HSA. When I didn’t need the supplies, I returned them for a refund. What now? It seems like the money should go back to the HSA, but it’s […]
Q&A: How do you force heirs to pay?
Dear Liz: My husband and his six siblings inherited a large family farm. No one lives there; it is used recreationally. Our limited liability corporation is set up so that only blood relatives can inherit. If they don’t want it, they can sell their share (only to family) for 40% of the value. The seven current […]
Q&A: Bank dragging its heels on reimbursement for forged checks
Dear Liz: I am a victim of check fraud where someone intercepted two checks made out to the U.S. Treasury and changed the payee name. These two checks were for $21,000 and $6,000, so it’s substantial. I made a police report and spoke with my bank at the end of August. Any advice on how to […]