Read Past Q&As
The estate of a deceased client received after her death, over $ 99,000 in SSDI covering many years. The check was made payable to the estate. How and where does this get taxed? If on Form 1041, do I only include 85%,
Submitted May 10, 2013
I have 401K money with an investment firm, and I am 71+, the firm just started sending me a few thousand dollars at the end of the year, because they have to, if I was to take all my monies out at one time how much tax would I have to pay, I would rather have all my cash because I am making nothing being invested, each year the firm makes money but not me. My husband...
Submitted May 6, 2013
Hi, we own two homes: one that we're living in and the other that we used to live in, which we rent out currently. We're thinking if it's more money saving to sell it within three years after we moved out of the old house, than keeping it for a longer period to help our kids go to college. This old house's rental basis (the market value as of the day we moved out)...
Submitted May 6, 2013
Re: universal life insurance. Basically, this type of ins. is design the premium that we paid, it broke down in three portions 1st-portion of $ goes to ins. 2nd- porttion of $ goes to investment and lastly fees & cost. I understand that you CANNOT write off the cost of ins. but what about the $ that co. invested for years "stock/bond/mutual fund ect..?? I...
Submitted May 1, 2013
we have six months cash on hand + an extra $40,000. We have $75,000 left on our morgage. Would paying down the morgage with the $40,000 make sense or would it be best to "invest" it?
Submitted Apr 29, 2013
When asked to calculate my income percentage for any financial planning (i.e. retirement, budgeting, investing), do I use my take home pay amount or the pretaxed amount?
Submitted Apr 28, 2013
I am considering buying a term life insurance policy just to cover the basics of cremation and funeral costs. I am 52, have no children ,but do have a partner. I don''t have a lot of cash coming in right now and don''t have a lot of money saved due to going through bankruptcy recently. I have about $40,000 that I recently inherited. So I guess I''m wondering how...
Submitted Apr 27, 2013
My wife is a independent contractor. We would like to open a Defined Benefit plan for future savings, do you have any recommendations ?
Submitted Apr 25, 2013
if i would of close universal life insurance paid surrender fees and take the premium losses in the last 8 yrs walk a way with cash value which was a loss. however, can i write off the portion of cost & losses that the company used to invested in the last 8 yrs by transfer into brokerage acct.??
Submitted Apr 23, 2013
My wife and I are doing our debt snowball and intend to be debt free by the end of this year. I have a a Roth IRA opened last year and a 401K through my job and my wife starts work this summer. Then, we will be making a combined income of $184,000 so would not qualify for a Roth anymore. Can we open a traditional IRA and if so, are there any limitations on how many...
Submitted Apr 16, 2013