Ask Kim

Kim Lankford answers your questions about managing money -- specifically, insurance and taxes -- twice a week.

April 25, 2018

Tapping an IRA for Charity

Donating by transferring money directly from an IRA to charity can lower your tax bill whether you file an itemized tax return or not.

See More On: Tax Planning

April 20, 2018

How Your Home Sale Will Be Taxed

Singles don't have to pay taxes on up to $250,000 in profits on the sale of their home, and couples can shelter twice that amount from taxes. But even if the gain is much higher, there are ways for home sellers to minimize the tax bite.

See More On: Tax Planning

April 17, 2018

Shopping for a 529 Plan for a Grandchild

When searching for a 529 college-savings plan for a grandchild, first check whether your state offers a tax break for your contributions.

See More On: 529 Plans

April 12, 2018

5 Last-Minute Ways to Cut Your Tax Bill

The tax deadline is just days away, but you still have time to reduce your tax bill or help a young worker get a jump-start on saving for retirement if you contribute to these five tax-friendly accounts.

See More On: Tax Planning | Tax Breaks | Tax Prep & Filing

April 11, 2018

Calculating Taxes on Social Security Benefits

As much as 85% of your Social Security benefits could be taxable if you have other sources of income, such as earnings from work or withdrawals from tax-deferred retirement accounts.

See More On: Social Security | Tax Planning

April 9, 2018

How Much Can You Contribute to a Health Savings Account?

Even if you have a qualified health insurance policy only for a few months out of the year, you can still make a tax-deductible contribution to a health savings account.

See More On: Health Care & Insurance

April 4, 2018

When It's Safe to Shred Your Tax Records

Many records are no longer needed three years after filing your tax return, but you may have to keep documents involving the purchase of a house or investments for years longer.

See More On: Tax Planning | Tax Prep & Filing

April 4, 2018

How to Undo a Roth IRA Contribution If Your Income Is Too High

You can still recharacterize a Roth contribution and move the money to a traditional IRA.

See More On: Roth IRAs | IRAs

April 4, 2018

Should You Get Cell Phone Insurance?

If you (or your teenager) often drop or misplace your cell phone, it may be worth it to buy coverage along with the phone.

See More On: Smart Buying | Technology

March 30, 2018

Don't Miss the Deadline for Your RMDs

Usually, you can wait until April 1 to take your first RMD. But the deadline falls on a holiday weekend this year, so you'll need to act sooner.

See More On: Required Minimum Distributions (RMDs)

March 26, 2018

Helping Young Workers Open a Roth IRA

It's not too early for kids with part-time or summer jobs to contribute to a Roth IRA. Even a small investment now can turn today's teen into a millionaire by retirement.

See More On: Roth IRAs

March 19, 2018

New Medicare Cards Are Coming Soon

In April, Medicare will start mailing new cards that don't disclose Social Security numbers. But the rollout will take a year.

See More On: Medicare

March 15, 2018

Health Insurance Options When Leaving a Job

If leaving a job means losing your health insurance, you can get coverage through a government health care exchange or another insurer, or you can stick with your employer's plan for up to 18 months.

See More On: Health Care & Insurance | Careers

March 8, 2018

What's the Penalty for Canceling a Rewards Credit Card?

Why you might want to hold on to that account.

See More On: Credit Reports & Scores | Credit Cards

March 9, 2018

New Limit for Health Savings Account Contributions

Using a new measure of inflation, the IRS has reduced the amount that people with family medical coverage can contribute to a health savings account in 2018.

See More On: Health Care & Insurance

March 8, 2018

Invest in the Private College 529 Plan

How you can use the money at colleges in the plan, and even at those who aren't.

See More On: Paying for College | 529 Plans

March 8, 2018

Insurance for Home Sharers

Home-sharing services and your homeowners policy may cover liability and damages by tenants, but the insurance may fall short.

See More On: Home Insurance | Family Finances

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