Prepare to File Your Taxes in March Whether you decide to go DIY or not for filing your taxes, start sooner rather than later. By the first week in March you should have all necessary tax forms from your employer, including your T4, T4A, T5, RRSP contribution slips, donation receipts,…
Illustration by Hunter Newton/Bankrate When Jessica Lee bought her townhome in Nashville, Tennessee, the builder offered 5% in closing costs if she’d borrow from their preferred lender. The 28-year-old financial analyst felt if she didn’t use the lender, she wouldn’t get the house. “If the builder is offering it, it’d…
PM Images/GettyImages; Illustration by Hunter Newton/Bankrate Credit unions are not-for-profit, member-owned institutions that commonly offer savings accounts with above-average rates, low minimum deposit requirements and low (or no) fees. While some credit unions restrict membership to those of a certain location or occupation, others make it easy for anyone to…
When people begin searching for help with credit card debt, they often come across a wide range of options labeled “debt relief.” Debt settlement companies, consolidation loans, balance transfers, auto title loans, credit repair services, and bankruptcy are frequently presented as potential debt relief options. However, these alternatives work in…
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Last year, on the day before Tax Day, my mom was scheduled to fly into Philadelphia International Airport to stay…
The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
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Image by PM Images/Getty Images; Illustration by Hunter Newton/Bankrate Mortgage rates moved up once again this week, with the 30-year fixed rate averaging 6.27%, up from 6.19% last week, according to Bankrate’s latest lender survey. Current mortgage rates Loan type Current 4 weeks ago One…
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Try to Offer Advice or Support Instead of Criticism While younger generations are often criticized for their lack of financial literacy, getting into…
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For fintech startups, the first five years of the decade have been a roller-coaster ride. At the outset, companies were awash in easy…
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Tax credits are a powerful way to save money on taxes. Each dollar of a tax credit is subtracted directly from the amount of tax you owe the IRS. And some tax credits are refundable, meaning even if you don’t owe any tax, the credit is paid out to you…
2. Coaching and Tutoring Take stock of your areas of expertise – maybe you speak a second language or solving math equations comes naturally to you. Make use of your knowledge about a certain topic and tutor students – or adults – who need to brush up on the subject. …
Key takeaways Investing in an S&P 500 index fund is an easy way to get instant exposure to hundreds of the largest companies in the U.S. in one investment vehicle. All S&P 500 funds are fundamentally invested in the same stocks, so choosing the “cheapest” one (the one with the…
Key takeaways Your homeowners insurance premium may increase after a successful claim. The severity of the claim can impact the amount of the increase. Looking for discounts and shopping around are two ways to keep your rate reasonable. You’ve probably heard that your insurance can go up if you file…
Whether you can claim an adult child as a dependent on your taxes depends on their age, income and living situation, as well as the level of financial support you provide to them. The IRS allows parents to claim certain adult children if they meet the criteria for either a…
With interest rates somewhat in flux, savers and investors might have to search a little bit harder to find the best returns from relatively safe investments such as money market funds. Money market funds invest in short-term securities issued by governments and corporations and are available from several different brokers…
Public is an investing platform that offers a solid trading experience, free trades on stocks and ETFs, easy access to bonds — and options traders will enjoy getting money back on their trades through Public’s rebate program. Other key features include: Fractional shares, so you can trade with as little…
A nursing home cannot directly seize funds held in an individual retirement account (IRA). However, retirement accounts in many states are generally treated as countable assets for Medicaid eligibility, which means their value can affect whether you qualify for Medicaid coverage of long-term care. In many cases, this requires a…
Capital gains are the profit you earn when you sell an asset like a home, business or stocks. Those gains are subject to capital-gains taxes, but capital gains are taxed differently depending on the type of asset — and how long you owned the asset. That’s because, while the federal…
Key takeaways The first step to saving is setting specific, achievable goals and tracking your progress using a digital budgeting tool, spreadsheet or pen and paper. Following a budget can help you identify ways you can add to savings as well as pay down debt. Ways to help you save…
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