Personal Finance
When tax season rolls around, homeowners often wonder if property taxes are deductible on their tax returns. The answer is yes—you can deduct property taxes on your tax return. In fact, property tax deductions remain one of the valuable benefits of homeownership under current tax law. These deductions allow you…
Asier Romero / Shutterstock.comWhat happens to your old toothbrush when it’s ready to be put to pasture? The American Dental Association suggests replacing your toothbrush every three or four months, or sooner if the bristles start looking frayed. And if you’ve had a cold or the flu, the University of…
Filing an extension can give you extra time to complete your tax return, typically pushing the deadline from April to October. But what happens if you file an extension but owe money? Filing an extension does not give you extra time to pay any taxes owed. If you may owe…
Key takeaways Dealership car loans offer convenience, but you’ll likely find better deals on interest rates by getting a loan from a bank, credit union or online lender. To secure the best auto loan rate, whether at the dealership or elsewhere, it is essential to arrange financing before visiting the…
Filing a state tax extension can provide extra time to prepare and submit your state tax return if you miss the original deadline. While the IRS offers a fairly uniform process for federal tax extensions, the rules for state tax extensions vary widely. Some states automatically grant an extension if…
Key takeaways Federal Reserve interest rate changes are the primary driver of CD rates, with yields typically moving up and down alongside the Fed funds rate. The CD term length affects rates, with longer terms typically paying higher rates than shorter terms. Bank competition for deposits can push CD…
The earned income tax credit (EITC) offers support to low- and moderate-income workers, but certain conditions can make you ineligible. You may be disqualified if your income is too high, if you have significant investment income, or if you are married but filing separately. You also cannot claim the credit…
Not long ago, I received a letter from an insurance company offering to lower my homeowners premium to just $44 per month — less than 10 percent of what I currently pay. It sounded appealing — until I looked closer. The policy’s low coverage limits, paired with a coinsurance requirement,…
When you score that great mail-in offer or discount, you might wonder: Do you have to pay taxes on rebates? The answer isn’t always straightforward. Generally, the IRS doesn’t consider most consumer rebates as taxable income. When a manufacturer’s rebate reduces the purchase price, that’s typically not a taxable event.…
Key takeaways Specific savings goals work better than vague intentions to “save more money” — define exactly what you’re saving for. Setting deadlines and breaking large goals into smaller monthly targets makes them more achievable. Creating separate accounts for each goal helps you track progress and avoid spending savings on…
