Dear Liz: My 16-year-old grandson has a job stocking shelves at a large grocery chain. His parents opened a low-cost minors investment account, which he has now funded to the max of $6,000. Is there anywhere else he can invest his earnings? Answer: It sounds like what your grandson funded was an IRA or a […]
Recent Blog Posts
Q&A: The case for filing a tax return
Dear Liz: A couple on Social Security who hadn’t received their stimulus payments wrote that they “do not make enough income to file tax returns.” It might be worthwhile to let your readers know that, even if one’s income is below the amount where they must file a tax return, they nevertheless may file a […]
Q&A: Coronavirus stimulus checks, tax refunds and the IRS’ backlog hell
Dear Liz: I’m a CPA. I sent out your recent column about IRS backlogs to two clients just this morning. It’s nice to have a published article backing up what I’ve unfortunately been having to tell clients for a few weeks now. Answer: Pandemic-related shutdowns, years of congressional budget cuts and the effort required to […]
Friday’s need-to-know money news
Today’s top story: Financial lessons we’ve learned while staying at home. Also in the news: 6 ways your investments can fund racial justice, how to organize important documents simply and safely, and see if you qualify for public service loan forgiveness with this tool. Financial Lessons We’ve Learned While Staying at Home Emergency funds are […]
Thursday’s need-to-know money news
Today’s top story: Today’s definition of financial adulthood is more flexible than ever. Also in the news: Which airlines have handled COVID-19 the best, 3 ways to say no at a car dealership, and a beginner’s guide to filling out your W-4. Today’s Definition of Financial Adulthood Is More Flexible Than Ever Young adults are […]
Wednesday’s need-to-know money news
Today’s top story: Why missing college this fall is a bad idea. Also in the news: Why you should get your finances in top shape now to refi your student loans, choosing the Medigap plan that’s right for you, and how to apply for a $1,000 grant if you’re a freelancer or gig economy worker. […]