Dear Liz: My husband remodeled all of the bathrooms in our home. We have receipts for the materials we purchased so that we can reduce our capital gains when we sell our home. Can we claim my husband’s time as labor costs for the home improvements? Answer: No. You can add the cost of improvements to your […]
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This week’s money news
This week’s top story: These states plan to phase out gas car sales. In other news: How to help your loved one navigate the costs of dementia care, weekly mortgage rates are up, but prices are the real villain, and new airline requirements. These States Plan to Phase Out Gas Car Sales California, New Jersey and […]
Q&A: How late-in-life divorce could affect Social Security benefits
Dear Liz: I’m a CPA and getting conflicting answers from the Social Security office about a case I’m working on. Both clients are 70 and they’re considering legal separation or divorce. She took Social Security at 62 and receives about $1,500 a month before deductions. He started Social Security at 70 and receives about $4,600. […]
Q&A: Managing mortgage debt in retirement
Dear Liz: My husband and I are Gen Xers who are renting. We have enough cash from the sale of our last home to make a small down payment on another. If we moved to a more affordable community, we could manage the payments, but it would still be a stretch. That scenario would not […]
This week’s money news
This week’s top story: 8 ways to personalize your rental and get your deposit back. In other news: Life insurance for small business, how couples can share the mental load of money management, and how to plan for retirement. 8 Ways to Personalize Your Rental — and Get Your Deposit Back Cosmetic upgrades can help personalize […]
How to escape from a money rut
Sometimes, climbing out of a money rut starts with a pep talk — to yourself. “I like affirmations and speaking out loud,” says Giovanna Gonzalez, a financial educator and author of “Cultura & Cash.” Her favorite affirmations are statements like, “I am not a reflection of my money mistakes,” “I can improve my financial situation,” […]