Advice

An I bond is now at 4.28 percent. Are they still a good deal?

The new fixed rate is 1.30 percent, the highest level since 2007.

By Michelle SingletaryMay 3, 2024
Advice

Use these 6 points to say no to a college you and your kid can’t afford

Any smart decision starts with leaving emotion out of it, especially when finances are involved.

By Michelle SingletaryMay 1, 2024

How this new rule protects retirement savers from costly advice

The Labor Department has moved to ensure more financial professionals are obligated to act in the best interest of clients.

By Michelle SingletaryApril 26, 2024
Advice

Borrowers, don’t miss this important student loan forgiveness deadline

Some people carrying education debt may qualify for credit or forgiveness of their loan through a Department of Education initiative. Here’s what you need to know.

By Michelle SingletaryApril 24, 2024
Advice

Keep these 10 financial documents forever. Scan and shred the rest.

Always hold onto birth certificates and Social Security cards, but it’s okay to cast off those old bank statements.

By Michelle SingletaryApril 19, 2024
Advice

Spring-clean your financial life with these 7 tips

It’s a great time to purge paper and passwords, close old accounts, and rethink your hefty tax refunds.

By Michelle SingletaryApril 17, 2024
Advice

IRS Commissioner Werfel talks about Direct File, audits and IRS budget

The agency’s leader says it has identified the problems with its algorithm that have led to a racial disparity in audits of Black taxpayers.

By Michelle SingletaryApril 12, 2024

Are you ready to buy a house? Take our quiz and find out.

Owning a house is how many Americans accumulate wealth, but affording one is a growing challenge. Should you buy a home right now? Take this quiz.

By Rachel Lerman, Michelle Singletary and Allison MannApril 12, 2024
Business Advice

Even if you owe taxes and can’t pay, file a tax return. Or you’ll owe more.

In fiscal 2022, the IRS assessed nearly $23.8 billion in additional taxes for returns not filed on time. Even if you cannot pay all of what you owe, at least file your return.

By Michelle SingletaryApril 10, 2024
Advice

A ghostbuster, toys, and other weird tax deductions people try to claim

Sometimes beer is a write-off, though the treats you keep for your personal pet at the office are not.

By Michelle SingletaryApril 5, 2024
Advice

Tax time is prime time for scammers and scheming tax preparers

To thwart government imposters, the IRS is working on a system that would allow taxpayers to check if the agency is trying to contact them.

By Michelle SingletaryApril 3, 2024
Advice

Nobel laureate Daniel Kahneman taught us that money isn’t always about math

A pioneer of behavioral economics, he upended the idea that financial decisions are governed by logic. Here are six ways his insights can lead to better choices.

By Michelle SingletaryMarch 29, 2024
Advice

Whether it’s Mama’s money, Powerball or Mega Millions, here’s how to manage a windfall

Massive jackpots this week for Powerball and Mega Millions sent people rushing to buy a ticket for a chance at a lifetime of financial security.

By Michelle SingletaryMarch 27, 2024
Advice

IRS has $1 billion in 2020 tax refunds. Time is running out to collect.

The window to claim a refund owed you for the 2020 tax year closes on May 17.

By Michelle SingletaryMarch 27, 2024
Advice

How to take the home office deduction without triggering an audit

With less than a month before the IRS tax filing deadline, readers pose their questions about credits, deductions and more.

By Michelle SingletaryMarch 22, 2024
Advice

Yes, your March Madness winnings are taxable

Americans will legally wager an estimated $2.72 billion on the men’s and women’s NCAA basketball tournaments; if you profit off your bracket, the IRS wants its cut.

By Michelle SingletaryMarch 20, 2024
Advice

More car owners are underwater on loans because of lower trade-in values

1 in 5 trade-ins had negative equity. Many buyers have to roll the outstanding loan balance from their old ride into their new vehicle, new data show.

By Michelle SingletaryMarch 15, 2024
Advice

Friends don’t charge friends for dinner parties

Some etiquette rules never change. So, yes, it's rude to charge guests for their supper.

By Michelle SingletaryMarch 13, 2024

Tax chat: How do I know if my spouse and I should file joint returns?

The tax filing deadline is April 15. Michelle Singletary and and a Betterment tax expert answered your questions on Monday, Mar. 11, at 2 p.m. eastern.

By Michelle SingletaryMarch 11, 2024
Advice

Five ways to trigger an IRS audit or notice

Though most tax returns are accepted as filed, bad math and certain patterns can prompt a deeper look.

By Michelle SingletaryMarch 8, 2024