Robin Hartill, CFP®, is a freelance writer who covers insurance for NerdWallet. See full bio. Helpful resources How to Manage Your Personal Loan How Many Personal Loans Can You Have at Once? Are Personal Loans Taxable? Comparing options? See if you pre-qualify for a personal loan - with...
The cash surrender value is the amount of money you can receive if you choose to surrender your whole life insurance policy. It represents the accumulated cash value minus any surrender charges imposed by the insurance company. The cash surrender value is typically lower than the total cash valu...
Your Social Security payments may become taxable if your combined income exceeds $25,000 for individuals or $32,000 for couples. Picking up a part-time job in retirement is an easy way to improve your retirement lifestyle. However, your earnings could affect your benefits ...
Rosen encourages people to add a message explaining what the cash is for so that if there are any questions later, recipients have documentation showing the money isn’t taxable. Not every payment platform will be sending 1099-K forms, though. For instance, Zelle says ...
Saving money for the future is a good way to help protect your financial health and prepare for the unexpected. 3 min read Workplace Benefits FSA vs. HSA: What’s the Difference? Depending on your health insurance plan and your employer, you may have access to a health savings account (...
“Therefore, by saving into a Roth IRA account instead of a traditional IRA account, you are reducing the amount of required taxable distributions you’ll have to take later in life,” she said. “Also, because of the power of compounding, pre-tax assets can grow significantly ove...
Retirees, maximize your money: Explore 5 bank accounts to help secure your financial future and earn more on your savings.
Whether you have already filed your tax return or still need to, the good news is this tax filing season has gone much more smoothly than the past three, which were hurt by the pandemic.
For more information, please visit https://turbotax.intuit.com/credit-karma-money/. Loan details and disclosures for the Refund Advance program: If you expect to receive a federal refund of $500 or more, you could be eligible for a Refund Advance loan. Refund Advance loans...
Similar to FSA or HSA contributions, putting money in your 401(k) lowers your overall taxable income. If you stop these contributions, you may have more going into your bank account, but you'll also be paying more in taxes. It also may mess with the credits that you could be eli...