Gifting home creates unnecessary tax bill
Dear Liz: My wife and her brother are selling their parents’ home. The parents transferred the deed to their children’s names years ago. My wife should receive about $85,000 from the sale. Our yearly...
View ArticleCapital gains boost income tax bracket
Dear Liz: You recently wrote about potential capital gains on the sale of a property that was a gift from the parents (“Gifting home creates unnecessary tax bill“). The husband of the seller made...
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What Mom really wants on Sunday…
…is a day at the spa, according to a poll commissioned by Insure.com. About two out of five moms picked pampering as their top choice for a purchased gift. A family getaway was the next most popular...
View ArticleQ&A: Graduation gifts and financial aid
Dear Liz: Our grandson’s stellar high school performance and his family financial situation were such that he was admitted to his state university with grants sufficient to pay all school fees,...
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Gift cards aren’t gifts
If it’s the thought that counts, then gift cards don’t count much at all. They’re popular, granted. Six out of 10 people responding to National Retail Federation surveys this year said they wanted to...
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Friday’s need-to-know money news
Today’s top story: A good retirement savings option for the self-employed. Also in the news: Jobs that could mark you as a risk for late payments, what to ask before giving a cell phone as a gift, and...
View ArticleQ&A: When generosity becomes a taxing issue
Dear Liz: I recently came into some money, and I would like to share it with my family. I understand that there are annual tax caps on how much you can give to someone ($14,000 per person per year)....
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Wednesday’s need-to-know money news
Today’s top story: 3 reasons to be petrified of Bitcoin. Also in the news: A ‘Born Spender’ goes on a spending fast, how to stop your grown kids from ruining your retirement, and how to hide gifts from...
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Friday’s need-to-know money news
Today’s top story: Is Bitcoin safe? Also in the news: How to buy better gifts with credit card rewards, must-have tools and tips for year-end retirement planning, and smart money lessons for kids that...
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