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 […]
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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 […]
Are you missing a W-2?
An incorrect W-2, or employer’s failure to send you a W-2 at all, doesn’t get you off the hook with the IRS–you’re still expected to file your tax return on time. Even if you file an extension, you’re required to estimate and pay what you owe by April 15. The good news is that you […]