Ask Kim

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

March 22, 2019

How to Correct a Mistake on Your RMDs from IRAs

If you didn't take out the correct required minimum distribution because your brokerage firm made a mistake, the IRS may show some leniency.

See More On: Required Minimum Distributions (RMDs) | IRAs | Tax Planning

March 21, 2019

What Travel Insurance Covers When Planes Are Grounded

Your travel insurance might help with some costs if your trip was delayed because of the recent grounding of Boeing 737 Max planes.

See More On: Travel

March 14, 2019

Ways to Spend Your Flexible Spending Account Money by March 15 Deadline

Many workers will be hitting the drugstore in the next few days to use up leftover flexible spending account money from 2018 so they don’t lose it.

See More On: Health Care & Insurance | Tax Breaks | Tax Planning

March 13, 2019

Paying for Continuing Education With a 529 Plan

You don’t have to pursue a college degree to be able to use tax-free money from a 529 college-savings plan to pay for classes.

See More On: 529 Plans

March 8, 2019

Making the Most of a Health Savings Account Once You Turn Age 65

You’ll face a stiff penalty and taxes if you tap your health savings account for non-medical expenses before the age of 65. After that, the rules change.

See More On: Making Your Money Last | Employee Benefits | Financial Planning

March 7, 2019

What’s the Best Medigap Policy

All plans with the same letter have the same coverage, but prices can vary by company.

See More On: Health Care & Insurance | Family Finances

March 6, 2019

Reporting Charitable IRA Distributions on Tax Returns Can Be Confusing

Taxpayers need to be careful when reporting charitable gifts from their IRA on their tax returns, or they may end up overpaying Uncle Sam.

See More On: Required Minimum Distributions (RMDs) | Family Finances | IRAs

March 7, 2019

Credit Freezes Aren't Foolproof

Why you should still be periodically checking all three credit reports.

See More On: Credit Reports & Scores

March 2, 2019

When You Can Expect to Receive Your Tax Refund

The quickest way to receive your tax refund is to file electronically and have the money directly deposited into your bank account.

See More On: Tax Prep & Filing

February 26, 2019

Make the Most of the New Military Retirement Plan

The government is offering a new retirement option so that service members who leave the military before qualifying for a pension can still receive some benefits.

See More On: Saving for Retirement

February 26, 2019

How a Move Can Change Your 529 Plan Tax Deduction

The tax deduction you get for contributing to your state’s 529 plan can disappear if you move to another state.

See More On: 529 Plans | Paying for College | Tax Breaks

March 7, 2019

Using a 529 Plan for High School

You’re now able to withdraw up to $10,000 tax-free from a 529 plan each year for K-12 tuition.

See More On: 529 Plans | Family Finances

February 20, 2019

Do I Need Extra Insurance for My Drone?

Before your drone takes to the sky, see if your insurer will cover any damages the unmanned aircraft may cause to others or their property.

See More On: Home Insurance | Auto Insurance

February 19, 2019

How Changes in Income Affect Medicare Premiums

Medicare beneficiaries can see their premiums go up if their income rises, although for some that increase will be only temporary.

See More On: Medicare

February 13, 2019

Ex-Workers Get More Time to Repay 401(k) Loans

If you leave your job while you have an outstanding 401(k) loan, Uncle Sam now gives you extra time to repay it -- thanks to the new tax law.

See More On: 401(k)s | Employee Benefits | Loans

February 8, 2019

Tap an IRA Tax-Free With an HSA Rollover

You can convert tax-deferred money in a traditional IRA into tax-free cash by rolling it over to a health savings account and using it to pay for medical bills.

See More On: Health Care & Insurance | Employee Benefits | IRAs

February 5, 2019

How to Report an IRA Charitable Distribution on Your Tax Return

Your IRA administrator will send you a 1099-R, noting your entire distribution; you need to report it to Uncle Sam -- and call out what portion was used as a qualified charitable distribution -- on your 1040.

See More On: Tax Prep & Filing

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