MoneyWise


What the IRS Won’t Tell You

February 1, 2019

So your W-2s and 1099s have arrived in the mail.  That means the tax season is upon us once again and that means it’s time to get serious about doing yours. But did you know there’s certain information the IRS simply doesn’t tell you?  Rob West and Steve Moore tell you what you need to know and offer some tax advisors’ insider tips to stress-free filing!  (IRS.gov is still a great resource for how to file what.)

Next, they answer your questions at (800) 525-7000 and Questions@MoneyWise.org about the following:

  • If you're a young married couple, completely debt-free and a good income who's never had a credit card, should you get one to help build credit and get a better rate on a mortgage down the road?
  • If you bought a time-share years ago and now you want to get rid of it, what can you do?
  • If your 22-year-old debt-free daughter lives at home has $30,000 in savings in a local bank, how could she earn a better return over the next couple of years before she needs it?  https://ally.com  https://CapitalOne.com    https://Marcus.com 
  • If you wife has student loans and your credit is better than hers, is there’s a way, you can take out a loan to pay off his wife’s loans since he would qualify for a better loan rate.
  • If you're being billed about $30,000 to cover the cost of a new sewer system in your neighborhood and you can pay it  by financing it through the city, could there be other better options?

At the end of the program, Steve mentioned the book, Your Money Counts, by Howard Dayton.  You’ll find it right here on our website (MoneyWise.org).  You can connect with a MoneyWise Coach or access our other books and many free helpful resources.  You can also find us on Facebook (MoneyWise Media) and join the conversation. Thanks for your prayerful and financial support that helps keep MoneyWise on the air.  And if you'd like to help, just click the Donate tab at the top of the page.