Money Girl

In this episode, Laura sits down with Lisa Greene-Lewis. She’s a TurboTax expert and CPA with over 20 years of experience in tax preparation and helping filers save money. Lisa’s also worked as a public auditor, controller, and been self-employed, so she understands common mistakes to avoid and tips for legally paying less tax.What We Discuss:New rules that reduce taxes and increase tax refunds for the average taxpayer.Tips for small businesses and the self-employed that make filing taxes easier. When to consider incorporating your business or staying a sole proprietor.Who can claim a home office deduction and whether it’s a red flag for the IRS.How long to keep personal and business tax returns and their backup.How to get year-round tax support with TurboTax Experts for Business.Money Girl is a Quick and Dirty Tips Podcast, hosted by Laura Adams.Have a question for Money Girl? Email: money@quickanddirtytips.com or leave a voicemail: (302) 364-0308.Discover more from Money Girl!FacebookNewsletterTranscripts available at QuickandDirtyTips.com. Hosted on Acast. See acast.com/privacy for more information.

Is homeownership still the "American Dream," or is it becoming a financial burden? With 81% of renters aspiring to own but 61% fearing they never will, the gap between renting and owning has never felt wider. However, the truth is that both paths can lead to significant wealth if you play your cards right.In this episode of Money Girl, Laura breaks down the persistent rent-versus-own debate. While homeowners benefit from equity and appreciation, savvy renters can leverage flexibility and lower upfront costs to out-invest their home-owning peers. Whether you’re tired of "throwing money away" on rent or feeling "house rich and cash poor," this guide provides the clarity you need to make the best move for your bank account.In this episode, you’ll discover:4 ways renting can actually make you wealthier (including the "investment gap" advantage).The hidden costs of homeownership that go far beyond your monthly mortgage payment.The tax breaks and appreciation benefits that make real estate a powerful long-term play.How to hedge against inflation with fixed-rate housing costs.The "5-Year Rule" and other lifestyle factors that should dictate your decision.Note: This episode originally aired in January 2025.Have a money question? Send an email to money@quickanddirtytips.com or leave a voicemail at (302) 364-0308.Find Money Girl on Facebook and Twitter, or subscribe to the newsletter for more personal finance tips.Money Girl is a part of Quick and Dirty Tips.Links:https://www.quickanddirtytips.com/https://www.quickanddirtytips.com/money-girl-newsletterhttps://www.facebook.com/MoneyGirlQDT Hosted on Acast. See acast.com/privacy for more information.

A look at how U.S. consumer debt stacks up overall and per household. Quick breakdowns of mortgages, auto loans, student loans, and credit cards. Age-based comparisons from Gen Z to Boomers. Practical rules of thumb for housing and car buying. Clear explanations of lender ratios and payoff strategies like consolidation and balance transfers.

They explain why 401(k) contributions can get returned because of IRS nondiscrimination rules and who counts as a Highly Compensated Employee. They outline Safe Harbor plan changes you can ask your employer to adopt. They cover tax consequences of refunded pre-tax versus Roth money. They suggest Plan B savings options like HSAs, Roth IRAs, and taxable brokerage accounts.

Practical guidance on identifying and fixing excess contributions to 401(k)s, IRAs, and HSAs. Clear deadlines for penalty-free removals and how job changes or bonuses can cause accidental overfunding. A rundown of 2026 contribution limits and the new mandatory Roth catch-up for high earners. Steps for working with custodians and the tax forms involved.

A listener worried that a recent late payment will wreck their home purchase plans. The show outlines seven types of negative credit items and how long each can appear on reports. It covers special rules for medical debt, charge-offs versus collections, foreclosures, settlements, and differences between Chapter 7 and Chapter 13. The overall message: credit damage fades over time.

Hannah Cole, Enrolled Agent and founder of Sunlight Tax who teaches tax literacy for creatives and small businesses. She talks about reframing money as neutral and beating the “starving artist” myth. Practical topics include self-employment tax basics, overlooked deduction opportunities, new 2025–2026 law changes, and simple habits to make bookkeeping calm and reliable.

Clear breakdown of what counts as a taxable gift and who actually pays the tax. The huge 2026 lifetime exemption and the $19,000 annual exclusion are explained. Rules for spouse transfers and direct payments for tuition or medical care are covered. A warning about gifting assets versus leaving them to inherit because of cost basis and capital gains is discussed.

Celebratory milestone leads to seven practical ways to deploy a $1,000 windfall. Topics include building an emergency fund, buying key insurance policies, and tackling high-interest debt. They cover retirement contributions like Roth IRAs, passive index investing, saving for a child’s education, consulting a financial pro, and even a small reward to stay motivated.

Clear breakdown of what a high-yield savings account is and why online banks often pay more. Short primer on compounding frequency and how daily compounding improves returns. Warning signs to watch for like fees, variable APYs, and insurance limits. Practical tips on when to use a HYSA, how to open and link one, and where to comparison-shop for competitive rates.