While traditional tax software and the option to hire an accountant are still on the table, fintech companies like Cash App have made it easier than ever to find cheap (and even free) ways to file your taxes online. Take the time to understand how Cash App Taxes work and whether it’s the best tool to help you file your taxes this year. What Is Cash App Taxes? Cash App Taxes is a 100% free tax filing service that allows you to file both your federal and state tax returns quickly from either your computer or phone....

Most prospective buyers know that electric vehicles have higher upfront costs in exchange for greater fuel efficiency and lower environmental impact. But what some people don’t know is how having an electric car can affect the cost of car insurance. To help you avoid surprises when it’s time to update your policy after making the switch, let’s look at the ins and outs of insuring electric vehicles. Does It Cost More to Insure Electric Cars?...

However, you’ll need to meet the Roth conversion deadline of Dec. 31 in order for your conversion to apply to the current tax year. If you wait until April, your Roth IRA conversion will count toward next year’s taxes instead. Since you’ll have to pay taxes on the amount you convert, it’s important to understand the Roth IRA conversion deadline and how it might impact your tax bill. Why Would You Do a Roth IRA Conversion?...

Widow or Widower If a spouse passes away, the surviving spouse may receive full benefits once they reach their full retirement age or reduced benefits as early as age 60. If the spouse is disabled, benefits begin as early as age 50. They can also get benefits at any age if they take care of a child who is younger than age 16 or disabled, who receives Social Security benefits. The surviving spouse also receives a one-time death benefit of $255 regardless of their age....

What Is a Market Order? A market order to buy or sell goes to the top of all pending orders and gets executed almost immediately, regardless of price. Pending orders for a stock during the trading day get arranged by price. The best ask price—which would be the highest price—sits on the top of that column, while the lowest price, the bid price, sits on the bottom of that column. As orders come in, they are filled at these best prices....

Unlike a traditional mortgage, the balance of a reverse mortgage increases over time due to fees and interest, while equity decreases. The market offers several kinds of reverse mortgages, and you can typically choose from a few distribution options, ranging from a lump-sum payment to monthly payments. Some types of reverse mortgages allow you to use the funds as you please, while others apply restrictions. Here’s what to consider as you look into where to get a reverse mortgage....

Credit Scores and Marriage You’ve joined together in holy matrimony, in houses, and maybe even the same last name. Even then, you still maintain separate credit files. Your credit history is tied to your individual identity. You continue to use your name, birthday, and social security number to access your credit history. All the credit accounts you had separately, before and since you were married, are still part of your individual credit history....

The U.S. Travel Association reports in its Time Off and Vacation Usage Report that 54% of Americans had unused vacation benefits in 2017. This amounted to 705 million days of unused vacation time that could otherwise have helped workers recuperate and recharge from work. Statistics on Paid Time Off The gap between vacation time available and vacation time used is at least partially due to how vacation time is viewed and promoted by employers....

False Assumptions One of the biggest reason buyers don’t make offers on overpriced homes is because they don’t want to offend the sellers. It goes against human nature to offer substantially less than asking price. It can be insulting to the seller and embarrassing for the buyer. Buyers also erroneously believe sellers know when their homes are overpriced, and if they were willing to sell for less, they simply would lower their prices....

You may be wondering: Why would I want to spend money that I don’t need to spend to hire a lawyer when I’m already working with an agent? Some buyers want the legal protections and advice that only a qualified and competent real estate lawyer can provide. Hiring a Lawyer vs. an Agent to Buy a House Lawyers may say that you should hire a lawyer rather than a real estate agent, because a lawyer can provide both services....

What Are Qualified Distributions? Qualified distributions are those that can be taken made tax-free and penalty-free. They’re taken after age 59 1/2 or under some other allowed circumstances. There’s no penalty for withdrawing your money after you reach age 59 1/2, but you’ll pay income tax on the money you take out if you’ve invested in a traditional pre-tax 401(k) or a traditional IRA with untaxed dollars. You took a tax deduction at the time you made the contributions....

Why Do Checks Bounce? When there are not enough funds in your checking account to cover the payment written against it, then the check will bounce. That can happen for several reasons. Perhaps an automatic payment was deducted from your account before you expected it, your employer was slow to deposit your pay, or money in your account was locked up for a few days after using your debit card. Maybe you simply made a mistake balancing your checkbook....

What does your car payment have to do with qualifying for a mortgage? A lot, actually. Understanding where a car payment fits in your financial picture can help you determine whether buying a home while managing a new car payment is in reach. How Lenders Determine the Mortgage You Qualify For Your credit score and finances influence whether you can get approved for a mortgage. Once you’ve got the green light on a loan, lenders use two simple ratios to determine how much money you can borrow....

Each tax rate applies to a specific range of income referred to as a “tax bracket.” Where each tax bracket begins and ends depends on your filing status. Charts below show which tax rates apply to which filing status and taxable income amount. Remember: Taxable income is what’s left after you claim various deductions. How Tax Rates Work The circumstances of your life determine your filing status, such as whether you’re married, single, or have children or other dependents....

The interviewer isn’t interested in your personal life, your vacation plans, or why you need to get hired for the job. He or she wants to know why you’re the best-qualified person for the job. Be Conservative in What You Say and Share Keep your answers centered on your skills and qualifications. This isn’t the time or the place to share your problems; your focus should be on capturing the employer’s interest first, and negotiating second....

The Equal Credit Opportunity Act The ECOA prevents lenders from discriminating against people or businesses based on non-financial factors. The ECOA is one of the few important consumer laws that applies to consumers and businesses—most others apply to consumers only. Regulation B implements the ECOA, which says that a lender cannot discourage you from applying or discriminate against you based on factors that include: RaceColorReligionMarital statusAge (unless you’re too young to sign a contract)Whether the applicant receives public assistance...

Drafting an offer letter that gets accepted can be easier said than done, especially if it’s a seller’s market vs. a buyer’s market. Before you get that far, there are a few things you can do to increase the chances of winning over the seller. Get Preapproved Mortgage preapproval means that a lender has done a cursory review of your financial situation, including your income and credit scores, and provisionally approved you for a home loan....

Here are five ways you can save money when making everyday purchases: Buy Used, Refurbished, or Older Models Most people enjoy the shine of a new toy, but buying used items will always offer you a great discount. Purchasing an open-box TV or a refurbished laptop can cost you hundreds of dollars less than a new one, and many of these refurbished or open-box items are almost brand new, complete with user manuals and manufacturer warranties....

Qualified 529 Plan Withdrawals Previously, qualified 529 plan withdrawals were limited to withdrawals used to pay for higher education expenses at eligible colleges and universities. Specifically, that meant schools that are eligible to participate in federal student aid programs. Withdrawals are limited to certain expenses, including: Tuition and feesRoom and board for students attending at least half-timeBooks, supplies, and equipment, including computersEquipment or services required for special needs students Parents can make annual 529 plan withdrawals up to the amount required to cover any of these associated costs tax-free....

You aren’t alone if your answer to this question is an emphatic “No,” or if you are simply not quite sure. Saving for retirement is a major challenge for many people these days and we have pretty low retirement preparedness levels across the board in our country. Sometimes we spend more time and energy avoiding our finances than is necessary. Instead of spinning our wheels and doing the same things to get the same old results, maybe we should redirect our time and resources to more meaningful actions that could become difference makers....