Read Past Q&As
I am a 50% shareholder in a S corp. We changed from a C corp to a S corp in 2010. I plan to sell my portion of the business at the start of 2017. Are there any adverse tax issues with this scenario ?
Submitted Nov 9, 2016
I have a paid up (by my parents) insurance policy from Continental Insurance Co., later (1946) People's Insurance Co. How can I find out who has the policy now?
Submitted Dec 31, 2016
How does a person qualify for life insurance when they have a pre-exisiting condition? My relative has tried to become approved for life insurance and it seems impossible due to having a depression / anxiety disorder.
Submitted Jan 2, 2017
i am the owner of a whole life insurance policy on my son's life. I have always had the dividend buy additional paid-up insurance on this policy. Now I want to transfer ownership of this policy to my son (the insured). What are the tax implications for me and my son?
Submitted Sep 27, 2016
Hi, my employer pays for my disability insurance and then paid me my regular salary while I was out on disability. I paid my employer the full amount that was sent to me from the disability insurance. I just received a notice from the IRS saying that I owe taxes on the amount the disability insurance paid me. Is that correct even though I paid it to my employer?
Submitted Nov 21, 2016
This year, I have worked in two separate states (MA and MD) while retaining residence in PA. Most of the money earned was spent on travel and hotel costs. Is any part of the money spent on travel and accommodations deductible as business expenses?
Submitted Nov 27, 2016
My neighbor's husband passed away 2 years ago. She is starting to show MILD signs of dementia. There are 5 siblings and now a power struggle. A brother has power of attorney and has been named executor. All of her finances have been moved by him to a separate account the elderly woman has no access to. He has had all of her mail forwarded to his residence. This...
Submitted Dec 3, 2016
I'm a grandparent of boys 9 & 13. Thinking of xmas present involving education on investments for kids. Any suggestions ? Rhoda
Submitted Nov 1, 2016
A medical benefits policy/accidental death benefits has been paid out to the beneficiaries, it is not part of the estate, only the children were declared as beneficiaries,; it was listed as part of the estate nor were any wives or ex wives listed on the benefits application. The insurance company is from out of state, but according to the company the policy has...
Submitted Oct 27, 2016