Dear Liz: Lately, I’ve encountered businesses charging a fee to use a credit card either online or at the point of service. This practice seems to be steadily increasing, as I have been hit with fees to use my credit card at my car repair shop, gym and restaurants. Gas stations have been doing this for […]
Recent Blog Posts
Q&A: Can I collect my ex-spouse’s Social Security survivor benefit if he remarries?
Dear Liz: I was married 37 years. I claimed Social Security at 62 because I needed the monthly income. I learned too late that if I had waited a few more years, my payment would have been much better. They did tell me that if my ex died before me, I would be entitled to have […]
Q&A: Should I make my kids beneficiaries of my IRA?
Dear Liz: Since retiring, I’ve been converting a traditional pre-tax IRA to a Roth IRA. I’ve got another small pre-tax account that I could do the same with. My reason for converting is that my spouse has a very large pre-tax IRA that probably won’t be used up in our lifetimes, and I don’t want my […]
Q&A: When to report an unresponsive accountant
Dear Liz: In a previous column, you answered a question from someone dealing with an unexpected bank levy by a state tax agency. The accountant who prepared the tax returns wasn’t responding to emails or calls. If an accountant ignores a client, then a complaint should be filed with the state’s board of accounting. If the […]
Q&A: How the kiddie tax can derail your inheritance tax strategy
Dear Liz: I’m about 50 and have two early elementary school children. I make really good money and with the combination of all taxes the last dollar I make is taxed at about 50%. I stand to inherit about $5 million from my parents. The problem is that about $3 million of that is in retirement […]
Q&A: Is it better to take Social Security earlier and invest it?
Dear Liz: I’m 64 and retired. My wife is 54 and still working. Half the people I talk to say take Social Security and just invest it, as you’ll make more than waiting until you get older. Others say that the tax hit isn’t worth it because my wife still works. I’ve talked to a […]