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Author: Susan Tompor, Detroit Free Press

Money

Why Ohio bitcoin tax gimmick is like paying with Beanie Babies

December 24, 2018Susan Tompor, Detroit Free PressComments Off on Why Ohio bitcoin tax gimmick is like paying with Beanie Babies

Will more states follow Ohio in accepting bitcoin for tax payments? Doubtful, given that no one knows what bitcoin will be worth tomorrow.

Money

From a chances of a recession to interest rates: 5 things to know about your money in 2019

December 18, 2018Susan Tompor, Detroit Free PressComments Off on From a chances of a recession to interest rates: 5 things to know about your money in 2019

The odds of a recession are heating up, but experts say a downturn is more likely to hit in 2020 than 2019. Even so, higher interest rates won’t help.

News

A million pension checks risk huge cuts without this fix

December 15, 2018December 17, 2018Susan Tompor, Detroit Free PressComments Off on A million pension checks risk huge cuts without this fix

About 120 pension plans, covering about 1.3 million people, are underfunded by $48.9 billion and could fail if a solution isn’t found.

Money

Social Security calling? Nope, it’s just scammers out to grab your cash

December 5, 2018December 5, 2018Susan Tompor, Detroit Free PressComments Off on Social Security calling? Nope, it’s just scammers out to grab your cash

Calls from Social Security imposters using fear tactics have been higher than IRS scams lately, according to the AARP Fraud Watch Network.

News

Saving for college: A workplace perk that can help your kids avoid debt

December 1, 2018Susan Tompor, Detroit Free PressComments Off on Saving for college: A workplace perk that can help your kids avoid debt

More employers are promoting 529 college savings plans. Some allow workers to deduct contributions from their paychecks.

Money

Year-end charitable giving doesn’t guarantee a tax break. Here’s what you need to know.

November 26, 2018Susan Tompor, Detroit Free PressComments Off on Year-end charitable giving doesn’t guarantee a tax break. Here’s what you need to know.

Giving Tuesday kicks off the charitable season. But new tax rules make it more complicated to figure out if you’d be able to claim a tax deduction.

Money

Gift ideas to help with college savings, student loan debt

November 25, 2018Susan Tompor, Detroit Free PressComments Off on Gift ideas to help with college savings, student loan debt

Many grandparents, as well as aunts and uncles, may be looking for money-wise gifts, such as helping topay down student loans.

Money

Black Friday shoppers beware: Scammers likely to use ‘pick up in store’ scam

November 19, 2018Susan Tompor, Detroit Free PressComments Off on Black Friday shoppers beware: Scammers likely to use ‘pick up in store’ scam

Crooks will be competing with consumers online for all those hot deals from Thanksgiving to Cyber Monday when fraud attempts can jump significantly.

Money

How to get $100,000 or more in your 401(k) by your 30s

November 17, 2018Susan Tompor, Detroit Free PressComments Off on How to get $100,000 or more in your 401(k) by your 30s

About 68 percent of millennials on Fidelity’s 401(k) platform have all of their money in the plan invested in a prepackagedtarget-date fund.

Money

Paying off student loan? Repayment options you should consider

November 9, 2018Susan Tompor, Detroit Free PressComments Off on Paying off student loan? Repayment options you should consider

For May college graduates, November is when student loan repayment begins. Here are some things to consider in picking a plan that works for you.

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Headlines

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PCE inflation report: Key measure ticks higher in July. What will the Fed do?

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