Read Past Q&As
I am successor trustee of an irrevocable trust. Can I appoint a successor trustee? The trust allows for me to appoint a co-trustee. I plan to do that if another successor trustee can't be appointed.
Submitted Apr 26, 2016
I'm currently deep in debt, with a high debt-to-income ratio. One of the cards on my report is actually my husband's AmEx card, but he added me as an authorized user when I was traveling for work (so I could keep my biz expenses separate from personal spending). It has a credit limit of $27,000 and a current balance of $22,000, but he just gave me access to about...
Submitted May 9, 2016
I currently have outstanding 401K loans at my current employer. I am exploring the possibility of leaving based on some current changes in the compensation of my current role. Is there any other options when it comes to paying off the balance in full within the first 60 days of leaving. Can I continue making the payments on a monthly basis? Thanks
Submitted May 8, 2016
I currently have a 30 year mortgage at a 4% interest rate with 24 years left. Currently pay $668 a month. Does it make sense for me refinance to a 10 year mortgage at a 2.875 % interest rate and pay $1175 a month. Closing cost expense is roughly $2,600. Side note: not sure how long I see myself living there. Until I get married and expand. Who knows how many...
Submitted Apr 25, 2016
Submitted Apr 29, 2016
Divorce & Taxes: In the course of a divorce spouses were ordered to file joint-married by submitting data to a CPA for certain tax years. (The divorce since was awarded.) One spouse has a schedule-C business and sent what amounts to a rats nest of papers to CPA. Per accountant spouse's data would not survive IRS audit because income is not backed up by...
Submitted May 1, 2016
Overwhelming Debt Crisis. I have over 53K in unsecured debt ( credit cards and personal loans), back taxes of 6k, and operating expenses per month of over 6 k. I feel like I can't get out of debt and see only 2 options: Increase multiple streams of income or debt settlement/bankruptcy. What can I do?
Submitted May 2, 2016
Hello Jason - I have a client whose father died and left and her 3 siblings N/Q annuities to be shared equally. The carrier siad something about deferring the payout 5 years for some reason. Could she roll over to a new N/Q annuity with tax free exchange or is there another strategy you would suggest, Jason? Thank you! Frank Varvaris
Submitted May 5, 2016
In 2015, I bought an investment property, a single family home to rent out. What can I deduct (as an Expense for CY 2015) from the settlement statement? (I saw a similar question regarding a primary residence, but don't know if the IRS rules are the same.) Thanks much, David
Submitted May 6, 2016