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Money Management Archives |

Virtual Currency

Surprise, the IRS is intensely interested in filers who transact in virtual currencies. They are requiring more disclosure. Starting with returns filed this year, people must answer on Schedule 1 of the 1040 whether they’ve received, disposed of, sold, exchanged or...

The Financial reserve

Bankrate’s January Financial Security Index survey reveals that just four in 10 U.S. adults (41 percent) could cover the cost of a $1,000 car repair or emergency room visit using savings.  This is not surprising, since we have been hearing about these reports for...

Inherited IRA’s

There is now a tightening on the distribution timeline for inherited IRAs and workplace retirement accounts. Many need to be cleaned out within 10 years of the death of the IRA owner or 401(k) participant. The exceptions allow payouts over the beneficiary’s life...

Title loans

I have no idea why lately I have been intrigued with businesses that focus on targeting low income people.  I know that I have seen a commercial recently that was advertising payday loans.  I guess this piqued my curiosity that it was a profitable enough industry to...

Payday loans

A payday loan is a type of short-term borrowing where a lender will extend high-interest credit based on a borrower’s income and credit profile. A payday loan’s principal is typically a portion of a borrower’s next paycheck. … These loans are...

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