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I have a small $10,000 life policy that was put in place in 1958. I am still paying the premiums. I took out a $6,000.00 loan on the policy that has not been repaid. The cash value in this policy is $6,300.00. If I cash in the policy and they deduct the loan that is due from the cash value how will I be taxed on the remaining cash value and can I offset the remaining...
Submitted Jan 31, 2015
Is it a good idea to get money out to pay our credit cards from our 401K while we are still working?
Submitted Feb 2, 2015
Submitted Feb 4, 2015
My husband was in a nursing home, I had to cash in all my retirement accounts to pay for home until medicaid kicked in how do I do my taxes.
Submitted Jan 28, 2015
I need help unemployed unemployment ran out after 6 mos. I don't want to loose my house. I live in a small town where several business have closed down. Jobs are scare.
Submitted Jan 29, 2015
I normally cash out my vacation and sick days, 40hrs max. I get taxed from here and then it is also included in my year, I feel like I am getting taxed twice. the also is true for my burnouse I get 30% tax and then is included in the year earnings which puts me In a different bracket. can you explain and recommend how would I go about to claim these income and not...
Submitted Jan 27, 2015
We are married - ages 62 and 54. At the end of 2015 when I turn 63, I plan on retiring. We will sell here in NYC and move to St Pete FL. We have 700K in retirement savings, 400K in cash, my Social Security will be 21K a year. Our expenses we calculate will be around 55K a year. Medical insurance for us comes through my employer and follows us in retirement. ...
Submitted Jan 27, 2015
I'm a Canadian citizen in my 20s. I'm living in Illinois right now to participate in a music performance ensemble I am a part of. I'm not working in the states, nor am I earning any money from this group (I'm actually paying a fee to the group to participate), so I am living here wholly off my savings. I'm not going to school in the states, (and I don't earn any...
Submitted Jan 25, 2015
I am 58 years old, early disability retired. My wife is 53 and on long term disability from IBM. We have 100,000 to invest of which 33,000 is a matured annuity. Should we invest this in a income producing annuity; fixed or variable or another product?
Submitted Jan 23, 2015