If divorce makes you a single parent, you need to take out adequate life insurance on yourself to protect your children or other dependents. Todetermine the minimum benefit amount, calculate how many years you have until your youngest child turns 18 (or, to be extra safe, 21) and multiply ...
While other states are more comprehensive and attempt to factor in things like both of your incomes, the ages of your children, the number of overnights they spend with each of you, which one of you pays for their health insurance, who takes them as a tax deduction, and more. But in ...
To determine if your child owesself-employment taxes(Social Security and Medicare taxes for those who are self-employed), useSchedule SE. Your child may have to pay self-employment taxes of 15.3%, even if no income tax is owed.9 Filing to Earn Social Security Work Credits Children can begi...
Step 2: Figure out how much of your allowance you want to save and how much you want to spend. Put aside a 5 for your long-term goals. Take two envelopes. Write "spend" on one and "save...
And remember, you don't have to do it all alone. "Ask for help," says Lacy. "We didn't, and looking back I wished I asked for lower APR from my lenders." The couple did call their car insurance, cable and internet companies to negotiate lower monthly payments, but with the recent...
When it comes to life insurance policies and protections, recommendations are specific to your individual personal financial situation, preferences and goals. Keep this in mind as you determine a plan that's valuable to you. Matt Richardson Matt Richardson is the senior managing editor for the Ma...
insurance is $18,865, including pregnancy, delivery, and postpartum care, or an average of $2,854 out of pocket for both a mom and her baby's hospital stays. If your baby needs to stay in theNICU, the hospital bill could range from $3,000 to $20,000 per day (without insurance)...
If you're unsure whether or not you should form an LLC – and where to begin – here's a primer on getting started.
If you're feeling the post-holiday pinch in your wallet, here are six ways to recover from overspending.
Comprehensive financial planning: Once you start building your career and establishing a six-figure income, she said, you may want to look for an independent advisor who can advise you beyond life insurance, annuities and public equities. It’s worth noting that many advisors with a fiduciary du...