It’s Friday, so it’s time for this week’s reader-submitted Q & A. If you’d like to submit a question, click here for more information or simply email a question.
My husband and I have always claimed my daughter and granddaughter on our taxes.  She graduated college in 2008 and started a job in Sept of [...]

Continue reading about Friday Q & A: Stimulus payments and recovery rebate credits

Michael on February 13th, 2009
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My daughter did not work in 2007, and she had no income.  She did not file a 2007 tax return because she did not work.  Will she be able to get the recovery rebate check this year.  She did work in 2008.

- Lisa S.
Short Answer: If she files a tax return, she will get the [...]

Continue reading about Recovery Rebate Credit: Friday Q & A

It’s Friday, so it’s time for this week’s reader-submitted Q & A. If you’d like to submit a question, click here for more information or simply email a question.
I want to open a Roth IRA, but how do I know how much maximum I can put into the account for 2008?
- Diana C., [...]

Continue reading about Roth IRA Contribution Limits – Your Earnings, Income and Marital Status Matter

Michael on January 23rd, 2009
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It’s Friday, so it’s time for this week’s reader-submitted Q & A. If you’d like to submit a question, click here for more information or simply email a question.
My wife and I are going to receive a hefty income tax refund.  We didn’t adjust our W-4’s properly until September ‘08 (after we read Beyond [...]

Continue reading about Investing in 2009 – What are your financial priorities?

Michael on September 19th, 2008
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It’s Friday, so it’s time for this week’s reader-submitted Q & A. If you’d like to submit a question, click here for more information or simply email a question.
I just received a significant raise and now I can afford to save more.  I already max out my 401(k) and a friend of mine said [...]

Continue reading about Friday Q & A: What should I do with my raise?

Michael on August 8th, 2008
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It’s Friday, so it’s time for this week’s reader-submitted Q & A. If you’d like to submit a question, click here for more information or simply email a question.
With all that’s going on in the economy, I feel like I should be doing something differently.  Should I?

–Mike N., Tacoma, WA
STRAIGHTFORWARD ANSWER
You probably shouldn’t [...]

Continue reading about Friday Q & A: Financial strategies during a downturn

Michael on August 1st, 2008
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It’s Friday, so it’s time for this week’s reader-submitted Q & A. If you’d like to submit a question, click here for more information or simply email a question.
How can I possibly save on one income?

–Sue W., Clinton, NJ
STRAIGHTFORWARD ANSWER
You save on one income the same way you save on two incomes: spend [...]

Continue reading about Friday Q & A: Saving on one income

Michael on July 25th, 2008
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It’s Friday, so it’s time for this week’s reader-submitted Q & A. If you’d like to submit a question, click here for more information or simply email a question.
Michael-
I have a question about the W-4 and changing number of exemptions. I graduated from law school in May 2007 and started my salaried position in [...]

Continue reading about Friday Q & A: Can I lower my tax withholdings?

Michael on July 11th, 2008
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It’s Friday, so it’s time for this week’s reader-submitted Q & A. If you’d like to submit a question, click here for more information or simply email a question
Are all custodians of Roth IRAs the same? How do I know whether to pick Ameriprise or Fidelity or a different custodian?
–Jennie K., Burnsville, MN
STRAIGHTFORWARD [...]

Continue reading about Friday Q & A: Picking an IRA custodian

Michael on June 6th, 2008
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It’s Friday, so it’s time for this week’s reader-submitted Q & A. If you’d like to submit a question, click here for more information or simply email a question
Do I need to have all my debt paid off prior to retirement?
–Mick V., Uniondale N
STRAIGHTFORWARD ANSWER
Not necessarily, especially when it comes to your mortgage. And [...]

Continue reading about Retire Debt-Free: Friday Q & A