I enjoyed talking about strategies for filling the retirement income gap with Consuelo Mack on PBS’s WealthTrack.
Don’t Make These Medicare Mistakes if You Lose Your Job After 65
You can delay signing up for Medicare past age 65 if you’re still working and have health insurance from a large employer. But you need to enroll quickly after you lose your job or retire or else you could face lifetime penalties and expensive coverage gaps. Find out how to avoid these problems in this AARP article.
How to File an Amended Tax Return
Did you discover tax breaks you might have missed in the past? You still have time to file an amended return for 2017, 2018 or 2019 and get back an extra refund. This article in U.S. News & World Report explains why and how to file an amended return — and how the procedure is different this year.
Tax Strategies for Child Care Changes During the Coronavirus Pandemic
Your child care needs are probably very different than you were expecting at the beginning of the year, but new rules and strategies can help you make the most of tax breaks for changing child care expenses. Find out what you can do now in this U.S. News & World Report article.
How to Recession-Proof Your Finances
Servicemembers and military retirees face unique risks during an economic downturn. Find out about steps they can take at each stage of their career to protect their finances from a recession — in Military Officer magazine.”
Can You Take the Home Office Tax Deduction?
Are you working at home because of the coronavirus? Find out what you need to do to qualify for the home office tax deduction, and how new rules affect who is eligible for this valuable tax break — in U.S. News & World Report.
How to Prepare Your Home and Finances for a Hurricane
Hurricane season runs from June through November, and NOAA predicts that this year’s storm season could be particularly active. Find out about home improvements and other steps that can protect your home and finances from hurricanes and summer storms — in U.S. News & World Report.
8 Ways to Save on Car Insurance
Your car insurance premiums may be some of your largest regular expenses, especially when you’re just starting out. But there are some easy ways to save money on car insurance while still having valuable coverage – which could save you hundreds of dollars every year. Increase your deductible. Increasing the deductibles on your collision and comprehensive coverage from $500 to $1,000 can cut your premiums by up to 20% and prevent you from filing small claims that could get you dropped by your insurer or cause your rate to rise. Use some of your premium savings to build up …
5 Things You Need to Know About Required IRA Withdrawals
If you’ve been saving for years in a traditional IRA or a 401(k), you’ve benefited from the tax-deferred growth of your investments. But you’ll finally have to pay Uncle Sam when you take the money out — and the rules changed recently. The following strategies can help you minimize taxes, avoid penalties, and make smart decisions when you have to start taking IRA withdrawals. Make the most of the new rules for RMDs. Two recent tax laws made major changes to the RMD rules. In the past, you had to start taking withdrawals from your traditional IRAs and 401(k)s …
Get a Triple Tax Break from Health Savings Accounts
Health savings accounts (HSAs) are more than just a tax-advantaged way to pay for medical expenses. They can also help you reduce your taxable income, save for retirement, and even serve as a back-up emergency fund. There are a lot of misconceptions about who can contribute to an HSA and how they work. Here are answers to some key questions about HSAs and strategies for making the most of these valuable accounts. What are health savings accounts, and what are the tax benefits? A health savings account is one of the rare ways to get a triple tax break …