Your medical expenses may be tax-deductible, meaning you could lower your total tax bill. You can deduct the cost of any medical bills you pay out of pocket once they exceed 7.5 percent of your adjusted gross income (AGI), in a given year. However, you must itemize your deductions to…
A real estate agent can be an invaluable ally to have along your homebuying or selling journey. The right one can help you navigate over and around hurdles and optimize the transaction for your financial goals. All of that support isn’t free, though. Real estate agents earn a commission on…
Historically, selling your home meant paying the commission of not just your own real estate agent, but also the buyer’s agent. The cost of commissions for both agents involved in the transaction typically amounted to somewhere between 5 and 6 percent of the home’s selling price — a hefty sum…
Key takeaways A reverse mortgage allows homeowners who are 55 and older to tap their home’s equity for tax-free payments. The most common type of reverse mortgage is a Home Equity Conversion Mortgage (HECM), which is available to borrowers 62 and older. Reverse mortgages can be complicated; ask a financial…
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TomoCredit, a five-year-old San Francisco startup that claims it boosts consumers’ credit scores, is facing a growing number of problems,…
This founder built his brand on a simple idea: Forget about changing the world. Get rich doing mundane and even…
The 2024 presidential election has ended, and Donald Trump is poised to retake the White House, with big implications for…
Voters in Washington State have decided to keep the state’s first-in-the-nation public long term care insurance program. On Tuesday, they…
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Options are an increasingly popular way for traders to play the market, and it’s no surprise why. Options let you make some big money if you’re right, potentially multiplying your money, perhaps in days or weeks. But advanced traders like the ability of options to…
Dept Managmnt
Key takeaways A lien serves as an official notice that you owe a creditor for unpaid property. If you do not pay, the…
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With interest rates easing and inflation cooling, small businesses are getting a much-needed break. A change to the Small Business Administration’s (SBA) refinancing…
Credit Cards
Key takeaways Actively using a credit card responsibly can help improve your credit score over time. Using your credit card like a debit…
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As the end of the year approaches, now’s the time to start preparing for filing your 2024 tax return in 2025. When it comes to tax strategies, generally Dec. 31 is the deadline to make changes that might lower your tax bill. One major exception is the deadline for contributing…
Key takeaways Rewards credit cards vary in many ways, from the types of rewards they offer — such as points, miles or cash back — to the way those rewards are structured. To take advantage of your credit card rewards, familiarize yourself with each card’s structure, meet the…
Key takeaways Credit card companies generate most of their income through interest charges, cardholder fees and transaction fees paid by businesses that accept credit cards. Even if you don’t pay fees or interest, using your credit card generates income for your issuer thanks to interchange — or swipe — fees.…
The marginal tax rate is the highest income tax rate you’ll pay on your income. Because the U.S. has a progressive tax system, different tiers of your income are taxed at different rates. The marginal tax rate is the rate that applies to your highest dollar of income. It’s important…
Key takeaways Online homebuying companies like iBuyers can make cash offers on your home in a matter of days, or sometimes even hours. Typically, all that’s required to request an instant offer is inputting your street address on the company’s website. However, in exchange for this speed and convenience, you…
Key takeaways Mortgage points are upfront fees you can pay your mortgage lender in exchange for a lower interest rate. Typically, one point costs 1 percent of the amount you borrow and reduces your interest rate by 0.25 percent. If you’re not sure if you should buy points, calculate the…
Key takeaways For military members and veterans, USAA may offer some of the lowest annual average rates. Both Armed Forces Insurance and USAA specialize in coverage for military members and veterans. Farmers, Geico and Liberty Mutual offer military discounts on policies. Active duty members of the military, veterans and their…
Key takeaways Knowing your partner’s finances before marriage can help you avoid later money surprises. Having a financial plan may help you avoid arguments about finances. Talking about money should be a regular part of your relationship before and after marriage. The magic of your wedding day and honeymoon may…
I love traveling as much as I hate paying for it. This attitude helped me perfect the ways I can save as much money as I can, wherever I go. Take my latest trip to Germany, for example. I just spent nine days in Berlin in late November, catching the…
Key takeaways Wage garnishment is a potential consequence of not paying credit card debt, where part of each paycheck is taken to pay off the debt. Federal law limits the amount that can be garnished from each paycheck, but some states have stricter limitations. To avoid wage garnishment, reach out…
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