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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
My husband and I live full time in Arizona. We receive pension income from a company we worked for in Nebraska. Can NE tax our pension?
Submitted Mar 11, 2013
Actually, the question is not for me personally but in regards to buying retirement time. A family member can add years to their pension at the public entity they work. At this time, they have about 25-26 years into the job and would like to retire with 30yrs but working 4-5 more years is looking dicey. They can buy the 4-5 years to make it an even 30year work and...
Submitted Mar 10, 2013
Hello, We purchased a unique home with an apartment in the basement only so my elderly mother can stay with us. If she passes are we able to to get her social security to continue to assist in paying her current portion?
Submitted Mar 8, 2013
My father pass away 9 mths ago and he had a insurance policy which me and my mother received the money but my two bothers and sister dont want money. Can that money be divided between me and my mom
Submitted Mar 7, 2013
I am divorced, and my ex got the house, as well as the first and second mortgage in the divorce decree (with a hold harmless clause). As my ex was not paying, the second mortgage company pursued me for payment. I reached a settlement with them for about 1/3 of the total loan amount. I understand they will submit a 1099 for the forgiven loan amount. Am I...
Submitted Mar 1, 2013
My daughter has been working as a teacher in Iraq since October2012. She will be there two years. She is paid by the university and no taxes are taken out. She will make under the 92,000 in a year. She filed taxes for 2011 and will file each year. Does she still owe any state taxes (lives in VA) she own no home. Any other taxes she needs to pay? She will be...
Submitted Feb 25, 2013