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I'm in debt I'm thinking about taking the money out of my 401(k) to get out of debt so I can sleep at night what are you think about that
Submitted Jan 22, 2017
I have a loan on my whole life policy, the initial loan was 6400.00 many years ago. The loan principal is currently 12500.00 (6100.00 interest). If I surrender the policy (Cash value=18200.00 - 2300.00 premiums paid) I will have a 15900.00 tax liability. Is there a way I can recoup the interest paid off this total?
Submitted Jan 23, 2017
I have a fixed annuity with alianz.. my problem is I cant get the money that's left in a lump sum. I'm told it is locked. is there anyway I can get this money.im on s.s. and need payment for dental care. thank you.
Submitted Jan 24, 2017
I was a P&C agent for years in the state of New Jersey, and I was recently asked a question I was unsure of.. if an insured (HO3 or 5) has an argument with his neighbor and a fight ensues. The neighbor get's the brunt of the injuries and hospitalized. Can the neighbor then go after his homeowners insurance liability policy? In my opinion in an instance like this,...
Submitted Jan 20, 2017
I have $4600 lump sum value in a retirement account with a former employer. The most recent statement says that at age 65 (20 years from now) it will pay a $92 monthly benefit. Is it better to cash out and transfer those funds to my current retirement account or leave the old account alone? What details should I look for to help make the decision? Thanks!
Submitted Jan 19, 2017
My husband & I own a tattoo shop (6yrs now) we are a sole prop with 2 contracted employees who are 1099'd. I am also self employed as a part-time self employed hair stylist who rents a chair & part-time stay at home mom. Our CPA is insisting we pay him monthly ($200 for my husband, $100 for me) I feel like this excessive? We make under $100k after deductions. Do we...
Submitted Jan 18, 2017
When forming a LLC Partnership and its time to pay your taxes. I understand that the taxes are a pass through, then on to the members. The members then pay their own taxes. My question is does each member pay 15.3% self employed tax. Or Is that 15.3% split when the members pay their own taxes. so they basically pay 7.5% each if there were only 2 members in the LLC...
Submitted Jan 17, 2017
I will be 70 1/2 in March 2017 and would like to consider QCDs as a result of the RMD requirements. Is it possible to have my financial planner arrange to divert IRA funds directly to various charitable organizations on a monthly basis? If so, can I vary it from month to month? Thanks.
Submitted Dec 28, 2016
My husband is on social security disability and is 63 years old. He will be receiving a pension from his previous employer, Fedex. He has recently gotten a little job where he works just two days a week. My question is, will his pension be included as income? As a disabled person, he is allowed to make a certain amount of money each month. Will his pension be...
Submitted Dec 14, 2016