Amanda Dixon is a personal finance writer and editor with an expertise in taxes and banking. She studied journalism and sociology at the University of Georgia. Her work has been featured in Business Insider, AOL, Bankrate, The Huffington Post, Fox Business News, Mashable and CBS News. Born and raised in metro Atlanta, Amanda currently lives in Brooklyn.
There comes a time in all of our lives when we have to say goodbye to a family member or friend. If you were close with the person who passed away, you might discover that they’ve left you something in their last will and testament. Before you officially take over your mother’s house or claim her jewelry, there’s one more thing you might have to worry about: an inheritance tax on your new assets. A financial advisor can help you minimize inheritance tax by creating an estate plan for you and your family. Find a financial advisor today. Read more
Prior to 2020, one of the biggest things you could do to affect the size of your paycheck was to adjust the number of allowances claimed on your W-4. The ideal number of allowances for you would depend on your individual situation. However, now that the allowances section of the W-4 has been eliminated, filling out the form has become somewhat streamlined. But if you need help figuring out your taxes, a financial advisor could help you optimize a strategy for your finances. Read more
Renting out your house might be worth considering, especially if you’re ready to relocate and you’re opposed to selling. Picking up a tenant could help you pay off your mortgage more quickly. Then, you could put the money you’ve earned toward a financial goal, like perhaps into a retirement account. If you’re not sure what to charge for rent, we’ve got some factors you’ll need to take into account. Do you have questions about how your rental income could affect your long-term financial plan? Consider speaking with a financial advisor. Read more
If you’re filling out a Form W-4, you probably just started a new job. Or maybe you recently got married or had a baby. The W-4, also called the Employee’s Withholding Certificate, tells your… Read more
When you file a federal income tax return, you have the choice between taking the standard deduction and itemizing your deductions. But after the 2017 Trump tax changes, which nearly doubled the… Read more
If you were unhappy with last year’s income tax bill, there are several ways to reduce your overall 2022 tax burden before the April 18, 2023, filing deadline arrives. You can try to qualify for as… Read more
The Earned Income Tax Credit (EITC) reduces tax bills for low-to-moderate-income working families. It’s a tax credit that ranges from $560 to $6,935 for the 2022 tax year depending on your filing… Read more
While your contributions to your retirement plan belong to you from the get-go, your employer’s contributions need to vest first. Employers may follow an immediate vesting schedule, a cliff vesting… Read more
Mortgage fraud occurs when a potential homebuyer or mortgage lender provides false information or omits certain details in order to complete a mortgage transaction. As a homebuyer, you may encounter… Read more
A short sale occurs when you sell your home for less than what you still owe on your mortgage. It can prevent you from seeing your home foreclosed and undergoing bankruptcy. However, your mortgage… Read more
A jumbo loan is a type of mortgage designed to finance high-value homes that require loans above the standard conforming loan limit. These limits are regulated by the Federal Housing Finance Agency … Read more
When you’re buying a home, there are multiple ways that you can go about paying for it. You can secure a mortgage by finding a bank or credit union in your area that offers home loans. There are also… Read more
In a perfect world, you wouldn’t have to borrow any money because you’d always have enough. In reality, there are times when you don’t have the cash for your child’s tuition bill, your own student… Read more
Qualifying for a mortgage isn’t easy. Some lenders have strict requirements and weed out applicants with poor credit or too much debt. A possible alternative for those determined to buy a house is… Read more
If you earn a wage or a salary, you’re likely subject to Federal Insurance Contributions Act taxes. Not to be confused with the federal income tax, FICA taxes fund the Social Security and Medicare… Read more
When it comes to paid family leave, the United States is behind the curve. The U.S. is the only industrialized country in the world without a paid parental leave policy for new parents in place at… Read more
Education is a factor that parents often take into account when deciding where to settle down and purchase a home. That’s why most of the best places to raise a family have good schools. While… Read more
The Federal Reserve recently raised the federal funds rate for the second time in a few months. The Fed seems to be fairly confident about the direction that the economy is moving in. That means more… Read more
Qualified charitable distributions (QCD) are money taken directly out of your individual retirement account (IRA) and given to an eligible charity. Giving to charity can be a benefit in many ways.… Read more
Many cardholders have access to hidden credit card benefits. For example, you may be unaware of the fact that your credit card company offers roadside assistance. So if your car suddenly breaks down… Read more
At some point, older adults may need help completing basic activities like getting dressed and taking baths. Unfortunately, health insurance plans don’t exactly cover this kind of care. This is where… Read more
States across the country are going green amid growing concerns about climate change. According to the National Conference of State Legislatures, more than 40 states (and Washington, D.C.) have… Read more
Reviewing your credit card statement every month is important. If you toss it in the trash as soon as you receive it, you may miss the chance to catch a mistake. A merchant may have charged you twice… Read more
Many Americans are expected to sign up for health insurance during the open enrollment period that falls between the beginning of November and the end of January. But that’s not the case for everyone… Read more
Today’s young adults are waiting to buy homes. A recent survey from the National Association of Realtors revealed that the average first-time homebuyer is in her early 30s. Most of the people… Read more
An error occurred Please reload the page. |