Do You Owe Taxes on Forgiven Debt? Learn when forgiven debt is considered taxable income and what you can do to avoid the extra cost. Erica SandbergMarch 31, 2025 Create an Account Create a free account to save
What if you stopped going out to eat? (Calm down, it’s just while you’re getting out of debt!) We know saying no to yourself is hard. But getting out of debt takes some sacrifice—there’s no way around it. Get creative and look for ways to save money on the essentials. Meal...
It isn't always easy to pay off what's owed to the Internal Revenue Service (IRS), especially as interest and penalties begin to accumulate on your tax debt. The IRS penalties on unpaid tax debt can be as high as 5% per month (up to 25% in total), after all, so it doesn't tak...
Few things in life can be more stressful than owing money to the Internal Revenue Service (IRS). This becomes extra hard to deal with if your tax bill is more than the cash you have on hand. Fortunately, you have a few options to pay off your tax debt, depending on your personal sit...
How to Pay It Off Expert Insight FAQ Debt Resources Debt can have a far-reaching impact, affecting financial and mental well-being. Explore these expert-curated resources from MoneyGeek to help you develop repayment strategies, reduce financial stress and achieve greater stability. ...
From utilizing resources available to you to knowing about various strategies, read on to see how to save money as a college student and find out more.
Small changes add up quickly, but if you’re really looking to pay off debt fast, try these options: Eliminate Your Car, or One of Your Cars Do you need two cars more than you need to get out of debt? Could you get by with just one? Selling one car could improve cash flow quite...
Take Public Transportation:If the area where you live has a good public transport system, you could save money on insurance, gas, and maintenance by selling your car and switching to the bus or train instead. How to Reduce Healthcare Costs ...
» Dive deeper:Tips and strategies to pay off debt When should you seek debt relief? Consider DIY debt relief, bankruptcy or debt management when either of these is true: You have no hope of repaying unsecured debt (credit cards, medical bills, personal loans) within five years, even if...
Small changes add up quickly, but if you’re really looking to pay off debt fast, try these options: Eliminate Your Car, or One of Your Cars Do you need two cars more than you need to get out of debt? Could you get by with just one? Selling one car could improve cash flow quite...