Dear Liz: We recently sold a house and have taxes to pay on the proceeds. I’m wondering if we can take some of the proceeds and put them into 401(k) accounts, and pay taxes on them later? Answer: You can’t do this directly, since 401(k) contributions are made through payroll deductions. If you haven’t already maxed out […]
Recent Blog Posts
Q&A: Don’t forget ‘Where’s My Refund?’
Dear Liz: My CPA left off some income when electronically filing my return at the end of March. The CPA filed a corrected return a few days later. I’m owed $10,895 and still haven’t received my refund. What happened to the 21-day refund period for e-filing? I can’t get through to the IRS on the phone. […]
What are your employee benefits really worth?
Benefits make up more than 30% of the typical job’s compensation, according to the U.S. Bureau of Labor Statistics . But figuring out what your benefits are worth isn’t always easy. You may need to do a little digging to find how much your employer contributes toward health insurance, retirement plans and other perks. Some […]
This week’s money news
This week’s top story: Smart Money podcast on financial fears, and if you need life insurance or not. In other news: What makes a good store credit card, and how to avoid bad ones, tackling financial insecurity, and why stocks and bonds are both falling. Smart Money Podcast: Financial Fears, and Do You Need Life Insurance? […]
Q&A: Filling a survivor benefit gap
Dear Liz: I am a 57-year-old widow. My children are 23, 22, 20 and 17. When my youngest graduates next June, I will lose the last of our Social Security survivor benefits. Our benefits used to be over $5,000 per month but her check is currently $2,084 per month. I am barely making it monthly now […]
Q&A: Got an old credit card that you no longer use? What to do instead of canceling it
Dear Liz: I have been keeping a credit card that I no longer use because I’m afraid that canceling it may reduce my credit score. I have had the card since 1983, and it shows on my credit report as my longest credit relationship. I have other credit cards that I use regularly. I no longer […]