Money

5 home remodeling trends to watch for in 2021

Open floor plans are out; dedicated spaces for remote work and learning are in. Also, check out more home and personal finance advice from experts at NerdWallet, Forbes and the Motley-Fool.

Should You Get An Interest-Free Loan?

Have you ever seen those advertisements for loans with claims of “0% interest!” or “free financing!”? If that triggered your inner skeptic radar, it’s for good reason. Oftentimes, these claims aren’t exactly what they sound like at first glance. But if you know what to look for, you can still use these interest-free loans as […]

How to File a Complaint Against Your Bank

If you get wrongly charged a fee or fraud hits your account, you may feel frustrated and impatient with your bank. If you’re not being heard or treated fairly, it…

Lower-Income Households Still Cautious As Stimulus Spurs Retail Spending

In the past week, good news about the economy has abounded: Unemployment is down and retail sales are up. But Americans’ optimism about the economy and their purchasing power depends in large part on their income—and decreases the lower that income is. This week, as third stimulus payments continue to be delivered, 52% of Americans […]

Do I Have To Pay Taxes When I Inherit Money?

MoneyTips

You have just received an inheritance. What do you do now? You could spend it on some extravagance, but you would be better off doing two things first: assessing the tax ramifications and thinking about some investment options.

"Death taxes" are somewhat misunderstood, as people can find the two types of death taxes confusing. Estate taxes apply to the front end of the wealth transfer process and are subtracted from the overall value of the estate. They only apply to huge estates and reduce the size of your inheritance upfront; you have no further tax obligation. The Tax Cuts and Jobs Act (TCJA) increased the estate tax lifetime exemption amounts to $11.58 million for single filers and $23.16 million for married couples filing jointly in tax year 2020.

Inheritance taxes, where they exist, apply to recipients. There are no federal inheritance tax...

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