Dear Liz: Eight years ago, we bought a fixer-upper in an up-and-coming neighborhood. Now it’s mostly fixed up, and property values have soared. We would like to borrow against the equity to buy a beach house we could use and also rent out. This would be a long-term investment. We already own one rental property […]
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Q&A: Tax credit for Roth IRA contributions
Dear Liz: You told a reader that “contributions to a Roth are never deductible.” This statement is a common misconception and is not correct. You can get a tax credit for Roth IRA contributions as long as you fall under the income limits and itemize on your taxes. The credit phases out at $30,000 for […]
Friday’s need-to-know money news
Today’s top story: The most common mistakes tax filers make. Also in the news: The terms every student loan borrower should know, how to handle early-year medical expenses, and six apps that’ll help manage your money. The 8 Most Common Mistakes When Filing Annual Taxes How to avoid making them. 5 Student Loan Terms Every […]
Thursday’s need-to-know money news
Today’s top story: Should you do your own taxes or hire a professional? Also in the news: How to be a frugal foodie, why you should check all three of your credit reports, and what to expect if you get audited. Tax Preparer Vs. Software: How To Choose Deciding whether to get help or go […]
Wednesday’s need-to-know money news
Today’s top story: Things to think about before paying your taxes with a credit card. Also in the news: How to collect a bad debt, the essentials for getting a good car deal, and the special tax challenges facing Americans living abroad. 4 Things To Think About Before Paying Your Taxes With A Credit Card […]
Tuesday’s need-to-know money news
Today’s top story: The increasing threat of medical identity theft. Also in the news: the student loan time bomb, how to gain an edge when selling your home, and how to fix a high electric bill. A Dangerous Form of Identity Theft Is Growing Fast Medical identity theft is on the rise. Student Loan Time […]