Good article, but one glaring omission: Credit Freeze. To protect against identity theft, freezing your credit files is free and one of the best defenses. It takes only a few minutes. Also, Credit Karma is a great free way to monitor your credit without paying the ridiculous fees that some credit monitoring providers charge.
Gift tax? Yeeesh. It is a common misconception that if you gift more than $16k you would owe a Gift Tax. That is not true, unless you're giving away millions. Yes, you have to file a Gift Tax Return. But the result will not be any additional tax owed. The amount will be deducted from your lifetime exclusion that will come into play when your estate is settled. But again, it will only matter if your estate is in the millions. This is such a common misconception and the last sentence in this article just goes to propagate it. I'm not longer surprised when I see this, but I expect better from the authors in Humble Dollar.
Comments
Could you post a link to the AirBNB page for the property. I'm interested in possibly booking a date.
Post: How We Unretired
Link to comment from June 24, 2023
Good article, but one glaring omission: Credit Freeze. To protect against identity theft, freezing your credit files is free and one of the best defenses. It takes only a few minutes. Also, Credit Karma is a great free way to monitor your credit without paying the ridiculous fees that some credit monitoring providers charge.
Post: Be Careful Out There
Link to comment from June 17, 2023
Gift tax? Yeeesh. It is a common misconception that if you gift more than $16k you would owe a Gift Tax. That is not true, unless you're giving away millions. Yes, you have to file a Gift Tax Return. But the result will not be any additional tax owed. The amount will be deducted from your lifetime exclusion that will come into play when your estate is settled. But again, it will only matter if your estate is in the millions. This is such a common misconception and the last sentence in this article just goes to propagate it. I'm not longer surprised when I see this, but I expect better from the authors in Humble Dollar.
Post: Coming Back to Me
Link to comment from October 8, 2022