Read Past Q&As
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
Would a supplemental plan benefit of a single life annuity be paid to someone on a W-2 if they are of retirement age and are receiving their monthly annuity income?
Submitted May 10, 2010
Will I have to pay a penalty or taxes if I cash out a traditional IRA to put towards a down payment on a house?
Submitted May 9, 2010
I owe $108,000 on my home I have 11 years left on a 15 year mortgage w/ 5% interest. My home is valued at about $170,000. I would like to put steel siding on it ($14,000) and pay off my vehicle ($10,000) and credit cards ($12,000). Would it be better to take out a 2nd mortgage or refinance all together?
Submitted Apr 26, 2010