Read Past Q&As
Submitted Oct 15, 2015
Regarding the last paragraph in website page: "What is the Basis of Property Received as a Gift?" which says: For example, your father gives you XYZ stock today that is currently worth $200. At the time of the gift, he has an adjusted tax basis in the stock of $500. After receiving the stock, you immediately sell it for $200. You do not recognize a loss because...
Submitted Oct 16, 2015
we have a variable life ins policy. our agent says we only have $17.00 in value and isn't enough to make the payment, we've paid 20 years @80.00 a month, it was not invested to gain anything, and now we have nothing. we can keep the policy but have to start putting money into it. what can we do?
Submitted Oct 20, 2015
my mother passed away my sister and i will be getting some money from her pension and life insurance. what tax forms are needed for me to use this year when filing.
Submitted Oct 13, 2015
Does my homeowner policy cover a personnel injury claim by a short term renter of my home without any extra renter insurance?
Submitted Oct 12, 2015
I had an F1 visa for USA. Now I am on B1/B2 visa. I want to rent out spare rooms in my apartment and my room when I travel on airbnb during my trip. Is that allowed?. If yes then for how long can I can rent for (moneywise)? Is there a limit? Can I also make money out of it?
Submitted Oct 8, 2015
Hello, I recently added supplemental disability insurance. Through my employer, I receive 60% Long Term Disability (LTD) coverage but if I ever claimed that, it would be taxable but also this 60% benefit of my current gross income would drop me down a tax bracket from what I can tell. I purchased the maximium supplemental disability insurance that I could buy that...
Submitted Oct 8, 2015
I have a Life Insurance Policy through my employer ($50,000). I paid extra for an additional $153,000. I became disabled and no longer work there. The insurance Company (Minn. Life) has a policy that if you become disabled, they will continue the policy and pay the premiums. Question: If I die and they pay out to my wife- will she have to pay taxes on...
Submitted Oct 5, 2015
Current assets in business law says it can offset current liabilities. So if a contract is a current asset and an invoice is a current liability, doesn't that balance out. In addition that the legal term for a documentary credit says "all" contracts that are not due on demand (prepaid) or prior to services or goods received are cash equivalents, so why do most Cpa...
Submitted Sep 30, 2015
I took annuity money out to rollover to Goldco for IRA investing in precious metals. Lost $ with surrendering. What can I put it in so I do not have topay any taxes.the $is at Goldco and I have 60 days to turn the money into something so I do not get hit with the taxes. I wanted to stay out of the stock market because of the volitable situation it is in. HELP...
Submitted Sep 27, 2015