Liz Weston: What sort of vital records should we include in a disaster kit, or if we need to evacuate?
Some important documents are easily accessed online. But what other documents are vital, and how should they be stored?
Liz Weston: 20-something son is ready to take control of his finances. Should he drop our co-owned credit card?
Answer: The IRS requires five-year holding periods before earnings can be withdrawn tax-free from Roth accounts. The ...
Liz Weston: Youngest brother was left out of aunt’s will. How much can we share with him without tax penalty?
My brother and I want to do the right thing for our younger brother and give him an equal share from our inheritance. I know ...
Liz Weston: Does my 401(k) have same drawback as payable-on-death bank accounts?
If your only asset is your 401(k), your beneficiary will receive that money even if the estate has bills to pay.
A divorced couple considers retying the knot to maximize Social Security payments
After a divorce, a couple reconciles but doesn't remarry. Should they retie the knot to maximize Social Security payments?
Hard copies, thumb drives and the cloud: How to handle vital records when it’s time to flee
A: The IRS requires five-year holding periods before earnings can be withdrawn tax-free from Roth accounts. The five-year rule applies separately to each Roth conversion, so the partial conversions ...
An aunt left him out of her will. Can his siblings share the windfall?
You can share an inheritance, but may have to notify the IRS so that you’re in compliance with gift tax rules.
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Liz Weston: Workers, classified as independent contractors, often end up with surprise tax bills
Dear Liz: A parent recently wrote to you about a son who was being paid as a contractor. I know someone else who got a job that did not “take out taxes from his paycheck.” Such workers believe ...