Too many people downplay the threat of identity theft because it hasn’t been witnessed or experienced firsthand. This false sense of security can leave you exposed, especially during tax season. Here are some tips to keep your identity safe from scammers:
Along with many other things, your insurance needs change when you retire. It is a good idea to look at your insurance options and figure out what you need or don’t need and ways you might be able to achieve some savings.
Many people continue to work after retirement age, either by choice or out of necessity. But if you are receiving Social Security benefits, you need to be aware of how working can affect your benefit payments. Earning income above Social Security thresholds can cause a reduction in benefits and mean your benefits will be taxed. Whether it makes sense to work and collect Social Security at the same time is a complicated assessment that depends on
Employee retirement savings plans come in two main types: the traditional 401(k) and the Roth 401(k). The benefit of a Roth 401(k) over a traditional 401(k) after retirement is that distributions from a Roth 401(k) are tax-free, but there is a little-known situation in which distributions can be taxed. Contributions to a traditional 401(k) are made pre-tax, so although it reduces your taxable income in the year you contribute to it, you have to pay taxes
More and more parents are moving in with their adult children, and the trend probably won’t reverse any time soon. As nursing home costs continue to rise, children and their parents are finding that living together is a better arrangement, both financially and emotionally. But having a parent move in is a big adjustment for everyone, and it is important to be prepared. Preparations can range from making physical adjustments to the house to figuring out
Although a nursing home cannot require a child to be personally liable for their parent’s nursing home bill, there are circumstances in which children can end up having to pay. This is why it is important to read any admission agreements carefully before signing. Federal regulations prevent a nursing home from requiring a third party to be personally liable for a resident’s charges as a condition of admission. However, children of nursing home residents often sign
Mileage rates for travel are now set for 2019. The standard business mileage rate increases by 3.5 cents to 58 cents per mile. The medical and moving mileage rates also increase by 2 cents to 20 cents per mile. Charitable mileage rates remain unchanged at 14 cents per mile. 2019 Standard Mileage Rates
Cloud-based applications, extensive communication channels, and other new technologies make it easier to run your business out of your home. If you qualify, many home business expenses are deductible. Think you might qualify? You must first pass these tests. Trade or business use test. To qualify for business use of your home you must use part of your home for a qualified trade or business. This profit-seeking activity must not be a hobby in the eyes
If you have children (or grandchildren) you have an opportunity to give them a jump-start on their journey to becoming financially responsible adults. While teaching your child about money and finances is easier when you start early, it’s never too late to impart your wisdom. Here are some age-relevant suggestions to help develop a financially savvy young adult:
Smart speakers like the Amazon Echo and Google Home are popping up everywhere. According to a Nielsen study from last September, nearly one of every four U.S. households has a smart speaker – 40 percent of those homes have more than one. For some, the speaker is an easy way to play music, for others it’s a unique way to easily access the Internet for information and control other Wi-Fi enabled products. However, there are some
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