Hi, I’m Harry. I’ll show you the nuts and bolts of managing your money.
401k, IRA, investing, insurance, taxes, … I lived, breathed, and wrote about these for so many years. No fluff, just concrete first-hand learning and sharing.
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Mortgage Interest and Limit in TurboTax, H&R Block, FreeTaxUSA
Here’s how to handle mortgage interest deduction in tax software TurboTax, H&R Block, and FreeTaxUSA when your mortgage is above the $750,000 limit.
No FDIC Insurance – Why a Brokerage Account Is Safe
Banks and brokers operate differently. Money in a brokerage account isn’t insured by the FDIC but it’s safer than uninsured deposits at a bank.
Get Rid of Estimated Tax Payment Vouchers from TurboTax
Seeing estimated tax payment vouchers (Form 1040-ES) from TurboTax doesn’t mean you must pay estimated taxes now. You can remove them to avoid confusion.
Opt Out of Underpayment Penalty in TurboTax and H&R Block
Decline the help from tax software in calculating the underpayment penalty. Let the IRS calculate the penalty and bill you when necessary. They often won’t.
State Tax-Exempt Muni Bond Interest from Mutual Funds and ETFs
A portion of the dividends from muni bond funds and ETFs is also exempt from state income tax. Find the percentage and calculate it for your tax software.
State Tax-Exempt Treasury Interest from Mutual Funds and ETFs
Calculate how much of the fund and ETF dividends are from Treasuries and exempt from state taxes. Enter the amount into TurboTax, H&R Block, or FreeTaxUSA.