Category: You Need to Know This

What’s MAGI and Why Does It Matter?

If you’re getting locked out of taking some deductions and retirement savings options, look at your MAGI – modified adjusted gross income. MAGI is a little tweak on regular AGI (adjusted gross income), designed to keep high-earners from reaping certain tax advantages, mainly deductions for IRA contributions and student loan interest or Roth IRA contributions....

Read More
6 Things You Need to Know About This Tax Season

There’s been a lot of talk about all the changes coming next tax season – but first you’ll have to get through this year’s tax return. To help you get started, here are six things you need to know about your 2017 tax return. April 17, 2018 is the due date for your 2017 return...

Read More
How to Plan for the Biggest Retirement Spending Surprises

It’s the most common financial fear: No matter how much cash you have stashed away for retirement, you’ll run out of money. You’re right to be worried. That happens too often to ignore…and it’s usually due to surprise expenses that derail the best-laid plans. Yes, market downturns and low investment returns can threaten your future...

Read More
Ditch Your Debit Card!

3 Important Reasons Single Moms Should NOT Use Debit Cards Just a few days ago, my sister’s debit card was stolen. Within three days, the thieves has used it in 16 stores and spent more than $4,000. And because it was a debit card, that money all came straight out of her bank account. That’s...

Read More
Use it or LOSE it: Spend Your FSA $

With year-end coming up fast, it’s time to get serious about spending every penny of your FSA (flexible spending account). Using an FSA can be beneficial for your budget. You get to use pre-tax dollars – meaning money out of your paycheck that you don’t have to pay income taxes on – to fund it....

Read More
How to Repair the Damage of Child Identity Theft

Single moms, if your child has been the victim of identity theft, you’ll need to take specific steps to reverse the damage and protect him from future financial attacks. This process can be really frustrating, so make sure your child has an existing credit report before you go through these steps. If there is one,...

Read More
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram