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.
20 Ways to Save Money on Car and Home Insurance
Find out about 20 relatively simple steps that can help you save hundreds of dollars on your car and home insurance without sacrificing the quality of coverage — in SaturdayInsurance.com.
Understanding Taxes on Annuities
An annuity can provide guaranteed lifetime income in retirement, as well as tax deferral.The way the taxes are calculated depends on the type of annuity, how you receive the payouts, and whether or not you purchased the annuity with money in a retirement account. Find out more in this article for SaturdayInsurance.com.
Great Financial Gifts for Kids
Find out more about gifts for your kids, grandkids, other relatives, or friends’ children that will have a lasting impact and teach them about saving, investing, and charitable giving in this SaturdayInsurance.com article.
Is the Time Right for a Roth IRA Conversion?
Now can be a good time to convert money from a traditional IRA to a Roth — you have to pay taxes on the conversion, but the tax bill can be lower when the value of your investments is down and your tax rate is low. But you need to be careful to avoid some unintended consequences when you make the conversion. Find out more at SaturdayInsurance.com.
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 …
How and Why You Should Improve Your Credit Score
Your credit score not only affects your interest rate for a mortgage, car loan and credit cards, but it can also have an impact on your car insurance premiums and even your ability to rent an apartment or get a cell phone. It’s important to stay on top of your credit score even if you don’t plan to apply for a loan soon. The most common credit score is the FICO score, which generally ranges from 300 to 850, with scores above 800 considered to be exceptional. You generally need a score of at least 760 to qualify for …