Dear Liz: I’m a CPA and your answer about paying taxes electronically was spot-on. But there’s a pro tip you might share: I advise all my clients to establish accounts with the IRS and their state tax authority. That allows my clients to schedule payments more easily with a single log-on (rather than having to validate each time […]
Recent Blog Posts
Q&A: How to roll over your 401(k) into an IRA
Dear Liz: My question relates to 401(k) rollovers. Are there different tax implications when it comes to rolling the money into a traditional IRA versus a traditional IRA brokerage fund? I’ve always associated the word “brokerage” with after-tax dollars. Answer: Financial terms can get confusing, so let’s start with the basics. Both 401(k)s and IRAs are tax-advantaged […]
Q&A: About those annoying online payment fees
Dear Liz: In a recent column you wrote about the importance of paying online and the dangers of writing checks. Why does paying online come with a fee? Is it really justified to pay a “technology fee” of $12 to pay my insurance bill online? It seems to me that it should be faster and easier for the […]
This week’s money news
This week’s top story: Tackle overdue taxes this year. In other news: Businesses can still claim worker tax credit from the pandemic, 10 cities that have the highest minimum wage in the U.S., and 10 rising vacation spots. Tackle Overdue Taxes This Year The sooner you can deal with unfiled and unpaid taxes, the better. Businesses […]
Romance scammers: They call you honey, but don’t send them money
Valentine’s Day might put you in the mood to look for love online. Unfortunately, criminals are also on the hunt, but for victims, not romance. “Meeting people online has opened the door to romance fraud,” says Kim Casci-Palangio, program director of the peer support program at the nonprofit Cybercrime Support Network in Ann Arbor, Michigan. […]
Q&A: Social Security survivor benefits
Dear Liz: You recently wrote that someone’s Social Security survivor benefit would be the same as her spouse’s, including the 8% annual delayed retirement credits and cost of living increases. My husband just took his Social Security at age 70 but we were told I wouldn’t get his full survivor benefit as I took my own benefit at age […]