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. […]
Monday’s need-to-know money news
Today’s top story: Your last chance for high CD rates is right now. Also in the news: How a credit card can help home improvement plans, how to search for scholarships without getting lost in spam, and a new episode of the SmartMoney podcast on credit scores. Your Last Chance for High CD Rates Is […]
Q&A: Which to tap first: IRA or Social Security?
Dear Liz: I retired in 2015 but have not started Social Security. My wife and I are living on a pension and savings. I read an article saying that taking early IRA withdrawals and holding off on Social Security can help minimize the so-called tax torpedo, which is a sharp rise and fall in marginal […]
Q&A: This innocent oversight can torpedo your credit scores
Dear Liz: My wife just had a credit card closed due to late payments, and we need some advice. It was a mileage card that she stopped using, but in November she made a charge for $120. She forgot about the charge, and in December they added the annual $60 fee. We weren’t monitoring the […]
Friday’s need-to-know money news
Today’s top story: How to protect your finances and credit in tough times. Also in the news: Squash these 4 common tax-season stresses, how to weather a market downturn during or approaching retirement, and how to handle – and head off – a tax bill. How to Protect Your Finances and Credit in Tough Times […]