Who pays for tax pro’s mistake?

Dear Liz: Last year I bought an electric vehicle, motivated in part by the $7,500 federal tax credit. I consulted with my tax preparer, a CPA, to ensure I would generate enough income to fully use the one-time, use-it-or-lose-it credit. In December 2011, I informed her of the exact type of that year’s income (earned […]

Continue reading...

Insurance scores aren’t the same as credit scores

Dear Liz: I have very high credit scores, but recently got a notice from my homeowners insurance company saying that my rates were rising because there had been a number of inquiries on my credit report. The inquiries were as a result of my looking for the best deal on a mortgage refinance, and we […]

Continue reading...

Which cars retain their value the best?

If you buy cars and then drive them until the wheels practically fall off–as I usually do–then you don’t need to worry much about “retained value.” You can take pride in squeezing all the value out of your vehicle before it’s hauled off to the dump. If you plan to trade in a car at […]

Continue reading...

Most investors under 50 plan to work in retirement

A new T. Rowe Price survey shows seven out of 10 investors aged 21 to 50 plan to work at least part time during their retirement years, and most (75%) will do so because they want to stay active. Only 23% expect to work out of necessity, because they won’t have saved enough. T. Rowe […]

Continue reading...

Son-in-law badgers elderly couple for money

Dear Liz: I am 84, and my husband is 88. We have two daughters, the elder of whom is married to a very controlling man. In the past, we lent them money and were paid back. But starting in 2009 his small business began to do poorly. They borrowed nearly $100,000 from us. Then in […]

Continue reading...

Hoard cash if unemployment looms

Dear Liz: My husband and I have been aggressively paying down our debts and plan to be debt free by this time next year. We’re devoting about 20% of our income to debt repayment and saving about 6% (not much, I know, but we’re young and just starting out). We were building an emergency fund […]

Continue reading...

News you can use right now

Here’s a round-up of good recent stories tied to Tax Day (deadline’s tomorrow) and one of my favorite topics, credit scores. Can’t pay? Amy Feldman’s article “What if you can’t pay your taxes?” for Reuters walks you through what to do if you’re facing a big bill, rather than a refund. Bottom line: don’t ignore […]

Continue reading...

How I outsource my life (Part III)

The homes in our Los Angeles neighborhood tend to have small back yards. We’ve struggled to make ours liveable for most of the 14 years we’ve been here. We wanted to have space to entertain and relax, as well as room for our dog to run and our daughter to play. What we wound up […]

Continue reading...

Beware your financial planner

Financial planner Allan Roth has a pretty good piece in the latest issue of AARP the Magazine on “The Two Faces of Your Financial Planner” (renamed “How to Choose Your Financial Planner,” a much snoozier headline, in the online version). Although it’s geared for older readers, it should be read by anyone who gets professional […]

Continue reading...

New tool helps you compare financial aid offers

You’ve gotten the college acceptance letters, and their accompanying financial aid offers. But how do you really decipher how much college will really cost you? More than 1.5 million students and their families are wrestling with these issues, and the Consumer Financial Protection Bureau wants to help. The bureau just announced a tool that can […]

Continue reading...