MONEYWISE

Rolling over an IRA

In an effort to simplify the process of rolling over an IRA account, the IRS has just made a change to the way it handles the 60-day deadline to avoid paying penalties on those funds. As of August 2016, those filing past 60 days will have the opportunity to apply for a waiver and be given the benefit of the doubt from the government while they wait for their answer. This means the funds can move safely into their new home without waiting in limbo for a decision.

Buying Flowers

According to Aboutflower.com, Valentine’s Day accounts for 25 percent of the total dollars spent on flowers for the year in the U.S. But surprisingly, only 20 percent of mothers surveyed by Offers.com list flowers as one of their top gift picks.

If flowers are a must, purchasing a few days early through a local florist will often yield the best results and value.

Pros and cons of mobile check deposits

As technology progresses, even old industries such as banking are beginning to offer new features that can utilize the convenience of smartphones According to Bankrate.com, 63 percent of mobile bankers are likely using their phone to deposit checks.

They also point out that mobile deposits can help prevent some types of fraud, allow deposits after business hours, and allow customers unprecedented convenience.
Be sure to void the checks and mark them deposited. It’s not all great, however, as banks often place a cap on your deposits, place temporary holds on mobile-deposited funds, and have no safeguards against bounced checks.