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I live in a condominium and just learned that next year, there will be a $6,000 special assessment to pay for a new roof. My condo is paid off, however I'm retired and my only source of income is my monthly social security of $1,875. The most I can put aside per month is $100. I don't know how I'm going to pay for this, and I'm afraid I'll have no choice but to sell....
Submitted Aug 19, 2016
I am considering selling my property in NY, buying property in NC and starting a real estate business rehabbing homes there. I currently have W2 income and investments but do my own taxes. I would like to determine the best way to finance my deals by leveraging my current assets and what type of entity to form, if at all. Considering that this is probably going to...
Submitted Aug 21, 2016
I've recently left a corporate job to invest in a real estate partnership where I will be drawing a salary. Additionally, my wife will be earning both w-2 and 1099 income in her upcoming new job. We would like good advice on structuring a small company to house our new investment and to effectively/efficiently manage our taxes moving forward. What are our...
Submitted Aug 22, 2016
Our primary assets include the equity in our house and car. My only investments are in IRA's. I am retired and married. Our homeowners policy includes coverage for personal liability of $300,000. Our checking account balance averages $4,000 to $5,000 to pay Visa in full each month for normal charges as well as recurring bills charged to the card. QUESTION: ...
Submitted Aug 9, 2016
I'm a 19 year old college student and I'm interested in saving up. I've heard about things such as Roth IRA's and CD's but I'm not sure if I'm too young to be getting these these? What kind of savings do you suggest for someone my age? How much of my paycheck should I be putting aside each month?
Submitted Aug 10, 2016
Hi, Upon her death, my mom gifted me and my 2 siblings an IRA and an Annuity. What is the best way to remove the money in these accounts to save on taxes? Thanks, Susan
Submitted Aug 15, 2016
My son passed away He left two children life insurance It was being held in trust until they became of age I asked insurance company to send a statement of earnings if any To date, nothing was sent: 1. HOW do we get that info? 2. My fear is: If mother cashed in policy as the children's guardian, who audits her...she may be spending the benefits on herself...
Submitted Aug 4, 2016
I am a benifiary of my fathers group life insurance policy. My father recently passed and the insurance company is only paying out a fraction of the death benefit. Do I have the legal right to obtain a copy of the actual policy to determine why the death benefit has been reduced?
Submitted Aug 2, 2016
I have designated specific charities as beneficiaries to non-qualified annuities that I have had for many years and have increased in value from the investments. My question is, will the beneficiary payouts be taxed before being paid to the charities? That is, will there be an estate tax consequence? I understand that if I gift an annuity to a charity while I am...
Submitted Jul 29, 2016