Personal Finance
Latest Personal Finance News
Can You Claim an Adult Child as a Dependent on Your Taxes?
Whether you can claim an adult child as a dependent on your taxes depends on their age, income and living…
My Mother Has $260k in an IRA. Is a Nursing Home Able to Take It?
A nursing home cannot directly seize funds held in an individual retirement account (IRA). However, retirement accounts in many states…
Do Seniors Over 80 Have to Pay Income Tax?
Reaching your 80s doesn’t automatically mean saying goodbye to income taxes. Many retirees live on fixed incomes and may owe…
Do Roth IRA Gains Get Taxed?
How Roth IRA gains are taxed depends on when and why you withdraw the money. You can typically withdraw growth…
Are Unemployment Benefits Taxable Income?
The IRS generally treats unemployment compensation as taxable income. If you don’t plan for this, or don’t withhold money from…
When Do You Owe Taxes Instead of Getting a Refund?
Whether you owe taxes or receive a refund comes down to how much tax was withheld from your paychecks, how…
What’s a Realistic Retirement Budget? I’m 60 With $740k Saved on an $85k Salary.
For most of your working career, the focus of your retirement planning is on accumulating savings and investing that money…
What’s a Realistic Retirement Budget? I’m 66 With $1.1k in a 401(k), Another $80k in Savings and I’ll Have $2,800 Social Security
A retirement budget compares expected income with planned expenses to see whether spending fits within available income. This process begins…
When Are Capital Gains Taxes Due on Real Estate Sales?
Selling real estate can result in a significant profit, but it may also trigger capital gains taxes depending on whether…
Can You Open a Roth IRA for Your Adult Child?
A Roth IRA offers tax-free growth and tax-free withdrawals in retirement, which can benefit young adults with long time horizons.…
