Kira Botkin , Author at Money Crashers

Zombie Debt: What It Is and How to Deal with Collectors

Kira Botkin — Tue, 05 Jul 2022 11:00:00 +0000

Most consumer debts have an expiration date, known as the statute of limitations. Generally, you don’t have to pay debts once that date passes. But that doesn’t stop “zombie debt” collectors from trying. Find out how to deal with them when they come calling.

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How to Tap into a Roth IRA for College Savings & Education

Kira Botkin — Wed, 15 Sep 2021 03:07:00 +0000

If you have children at home who hope to go to college someday (or someday soon), it’s important to plan ahead financially. College tuition is increasing every year and financial aid is never as generous as one could hope. You might already be familiar with 529 college savings plans, but you can also take advantage

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How to Prepare and Plan for Retirement

Kira Botkin — Fri, 30 Dec 2011 21:10:16 +0000

Whether your retirement is fast approaching or decades away, it is likely that you do not spend much time pondering what will happen when you stop working. Unfortunately, many people are unable to retire when they’d like to because of their financial situation. With careful planning, you can avoid this predicament. Planning ahead for retirement allows

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How Does Bankruptcy Affect Your Credit Score?

Kira Botkin — Tue, 16 Aug 2011 17:15:16 +0000

The main issue that discourages most people from filing bankruptcy is the detrimental effect is has on their credit. It’s true that a bankruptcy can stay on your credit report for up to ten years and it seriously hurts your credit score. However, not filing for bankruptcy and allowing your debts to go to collections

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IRA & 401k Required Minimum Distributions (RMDs) – Rules & Requirements

Kira Botkin — Mon, 30 May 2011 20:15:08 +0000

The government wants to help you save for retirement by giving you incentives like tax-deferred growth and deductible contributions through IRAs and work-sponsored plans. But while the government forgoes taxes on the front-end, it doesn’t want to end up entirely empty-handed. At the age of 70 1/2, you’re required to start taking withdrawals from most

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First-Time & Repeat Home Buyer Tax Credit – Rules and Limits

Kira Botkin — Tue, 12 Apr 2011 20:07:00 +0000

If you were one of the millions of people who became a homeowner between 2008 and 2010, whether it was your first time or your fifth, your purchase will have quite a noticeable effect on your taxes. That’s not only due to the lovely bump you’ll get from deducting your mortgage interest and property taxes,

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Making Work Pay Tax Credit Eligibility & Qualifications Explained

Kira Botkin — Tue, 22 Feb 2011 15:00:53 +0000

First introduced in 2009, the Making Work Pay tax credit was available for two years – 2009 and 2010. With this credit, you were able to receive a bonus of up to $400 (or $800 if you filed as married filing jointly) just for working. However, this tax credit was not renewed by Congress following

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