Content tagged "finance"

What Are the Tax Laws About Giving Gifts?

Personal Finance Updated: February 08, 2017

If you gave any one person gifts valued at more than $14,000 (2017 figure), it is necessary to report the total gift to the Internal Revenue Service. You may...

What Are the Contribution Limits for Tax-Deferred Employer Retirement Plans?

Personal Finance Updated: February 07, 2017

In 2017, employees younger than age 50 may contribute up to $18,000 to the following salary reduction retirement savings plans: (401(k), 403(b), 457, and...

What are the Contribution Limits for Traditional and Roth IRAs?

Personal Finance Updated: February 07, 2017

In tax year 2017, the maximum contribution limit for IRAs is $5,500. This applies to Roth IRAs or traditional IRAs or a combination of the two. The IRS also...

Can Non-Cash Donations Lower My Income Taxes?

Personal Finance Updated: February 07, 2017

Yes. Assuming you can itemize deductions using Form 1040-Schedule A, non-cash donations are just as valuable as cash donations. Find some time to gather old...

What is the "Kiddie Tax"?

Personal Finance Updated: February 07, 2017

Effective January 1, 2008, so-called "Kiddie Tax" rules pertaining to a child's investment income were changed. The age limit for this tax increased to...

How Can I Obtain an Estimate of my Social Security Benefit?

Personal Finance Updated: February 07, 2017

The Social Security Administration provides a benefit estimate online at Users must establish a user name and password when...

What is the Retirement Saver's Credit?

Personal Finance Updated: February 07, 2017

A nonrefundable retirement saver's tax credit is available for individuals with low incomes. In 2017, a single person making up to $18,500 or a couple making...

Is it a Good Idea to Borrow From My 401(k) if I Need Money?

Personal Finance Updated: February 07, 2017

Although most 401(k) plans offer loans of up to half your vested balance, this may not be a good idea. Plan loans usually charge the prime rate plus one or...

What is a Coverdell Education Savings Account?

Personal Finance Updated: February 07, 2017

  Coverdell Education Savings Accounts (ESAs) were originally established in 1997 and called "Education IRAs." They are investment trust accounts created to...

How Do I End Private Mortgage Insurance (PMI) Payments on a Mortgage?

Personal Finance Updated: February 07, 2017

 Legislation went into effect July 1, 1999, requiring automatic termination of PMI when a homeowner has paid at least 20 percent of the home’s value for...

Is unit pricing mandatory in large U.S. grocery stores?

Personal Finance Updated: December 08, 2013

Unit pricing regulations usually require the posting of unit price per pound, ounce, etc., on supermarket shelves for each consumer commodity, along with the...

What were some of the causes of the 2008-2009 economic crisis?

Personal Finance Updated: December 08, 2013

In a sentence, causes of the 2008-2009 economic crisis include subprime mortgages gone bad that were packaged into risky securities gone bad compounded by...

What is the difference between a peril and a hazard with respect to insurance coverage?

Personal Finance Updated: March 01, 2013

Both of these terms are used frequently in insurance policies, particularly property insurance.A peril is something that can cause a financial loss. Examples...

Do cooperatives pay taxes?

Cooperatives Updated: January 28, 2011

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This work is supported by the USDA National Institute of Food and Agriculture, New Technologies for Ag Extension project.