Read Past Q&As
My husband is self-employed and pays his own Social Security. Each year, we pay about $4,000 in estimated quarterly taxes. If we put that $4,000 into a traditional IRA throughout the year, would that lower our annual taxes? Thank you.
Submitted Dec 30, 2010
I am considering bankruptcy. I have 6 active credit cards with balances. My total credit card debt is $54K. Also, I am going through a divorce and may be left with nothing but debt. My question is: How will filing for bankruptcy affect accounts that have $0 balances. My goal is to preserve one account in order to have some kind of emergency backup. I have one credit...
Submitted Dec 28, 2010
My sister, daughter and myself are partners in a famliy ranch that we inherited from my parents. We just sold 57 acres for 66,000.00. What do we need to do for income taxes,? we will split the 66,000.00 between the 3 of us. Thank you, Robert Hegge
Submitted Dec 28, 2010
Dear Sirs, My wife was awarded a contract for which she had to accept payment for services that will be performed over 16 years. The payment was over $30K. Is there a way to divide the income over at least a few years to minimize the tax hit anticipated for the lump payment. Thanks, Ken Henry
Submitted Dec 20, 2010
Is there a limitation on the travel portion of the job search tax deduction, if I want a job in a different country?
Submitted Dec 17, 2010
I am unemployed and have a terrible credit score because I paid bills late! It seems the interview goes well but I am eliminated when the credit check occurs. What can I do to raise it quickly so that I can get employed?
Submitted Dec 16, 2010
Hello, I volunteer for a non profit that is just beginning and we are trying to find out whether or not an owner of a building is able to write off the rent of the building since he is leasing it to a non-profit 501 c 3 organization? or what are the rules around this? Thank you very much and we appreciate your help
Submitted Dec 5, 2010
I'm thinking about buying a car and want to know if you think I can afford it. The car will cost approximately 21,000. My car if traded in will probably fetch 2,500. I have approximately 18,000 in cash, but want to keep some as a safety reserve. I also have some stock I could sell if need be. I was thinking of paying cash for the whole thing, but want to know if...
Submitted May 14, 2010
I am leaving my current job that I have had for 20 years and moving. Daughter starting college. Will be employed (hopefully) within 3 mths after relocating. I will be 55 this Dec. I need to cash out part of my retirement acct, will I have to pay 10% penalty (since i'm turning 55 this year) or just tax for distribution?
Submitted May 13, 2010
I have $38,000.00 saved to pay cash for a new car that I have wanted for several years. Now that I have the cash saved I am wondering if I should buy a less expensive car say in the 25K range and put the rest of the money toward the principle of my mortgage. My only debts are a 6K student loan at 2% interest and my mortgage of 140K at 6% interest.
Submitted May 12, 2010