Read Past Q&As
Last year my father passed away, and his four children were named as beneficiaries on an IRA of his. The IRA funds were split into 4 IRAs one for each of us. I want to transfer the IRA from its present financial institution to another one, but to do that I would have to convert it from an inherited IRA to a traditional IRA. Is this possible? If so, what are the...
Submitted Apr 5, 2013
My Fiance and I would like to eventually purchase a home together. He already owns a condo, but I do not own any property, making me a first time home buyer. What would be the benefits of having the home purchase be done under my name? Would those benefits be affected if he had his name on the purchase as well? Are there any disadvantages? What other things should...
Submitted Apr 2, 2013
I am considering building a small retirement cottage on my daughter/son-in-law''s property which includes their home and they hold a mortgage thereon. I would cash IRA $ to do so. What if any concerns, issues do we need to mindful of?
Submitted Mar 31, 2013
Hi, Do you have any good references for "non-traditional" IRAs? I have a property based IRA and am about to do another significantly sized roll over and wondering about my best course. I am thinking of doing this rollover into the property IRA to fund building a retirement house (10 years off) although of course we can''t stay in it etc. (I''ve got the IRS rules...
Submitted Mar 26, 2013
I have about $75,000 in my savings account from some inheritances I received when my parents passed away. My current interest rate only earns me about $550 per year. Is there any low risk (safe) accounts I should put this money into that will earn me some interest? I looked into CD''s but there isn''t much for great rates right now. Thank you,
Submitted Mar 24, 2013
My wife's brother has gotten two credit cards in her name without my consent. How can that affect me in any way? I currently hold a specific Clearance for my job. Thanks.
Submitted Mar 20, 2013
I am age 64 and my wife is 58 and we want to put $8000.00 into our IRA annunity to reduce our 2012 income tax payment. The annunity is in my name and I will be putting in $6000.00 and she will be putting in $2000.00 Our return is filed as married filing jointly. The beneficary on the IRA annunity is my wife. Can we do this or do we need to set up a seperate IRA in...
Submitted Mar 20, 2013
Hi, If I was in a car accident and received a settlement from my insurance company, would the lost wages part of the settlement be taxable? Also, if I received a settlement for "pain and suffering," is that taxable? Thank you.
Submitted Mar 15, 2013
My daughter worked 3 weeks in Jan. 2013 but then moved to the UK and got married. (her husband is from the UK) They both started working in April and have worked ever since. Will they both have to pay US income tax? Is there a special form to fill out? It just seems a little crazy that you work in another country for a company in the UK, but owe the US income tax,...
Submitted Mar 14, 2013
I am currently in school at kaplan career institute and i recieved grants and loans that covered my exact amount of tuition, but because of my hours at school i have not been able to work i was wondering if there is a loan or grant or scholarship that i could apply for to help me out with some of my living expenses?
Submitted Mar 13, 2013