I recently received cash for around 6,000 shares of Schering Plough Corp. and would like to get your recommendation on investing in a stock (or stocks) to produce income. Click below for answer...
I will be 70 1/2 years of age on 15 Sept of next year. Based on my and my wife's ages, I will be transferring about 3% of my IRA to my regular trading account. Question 1: Can I wait...
QUESTION: The last 3 years I've been paying quite a lot in taxes at the end of the year. I've been thinking of starting an IRA account to cut down on my taxes. I don't need it for retirement, but...
Question: Dear Sir/Madam, I am 62 yrs. old and currently unemployed. I want to tap into my IRA Rollover funds to pay off a HELOC and PLOC. I would like to know the tax ramifications and how this affects my...
QUESTION: What is the fairest way to compare funds in a tax-deferred annuity with a taxable fund? How to best figure out if the better performing taxable fund produces a higher net return than the annuity fund with it's tax-deferred...
Question My husband is disabled and receives Disability pay. He is not on Medicare because I carry him on my insurance. Can I deduct the insurance I pay for my husband? Thank you, Judy...
Question: I am over 70 years old and, of course, must take mandatory taxable withdrawals from my IRA. This year however, I have a $50,000 loss on a business (an LLC) I started and this loss will count as a...
Can you tell me if I will have any income tax (or inheritance tax) due from an inheritance of approximately $250,000. Our residence is Texas and the inheritance is from my wife's Father who is a resident of Florida. Thank...
Question: What is the federal tax table for 2009 for married filing jointly? thanks, Bob Click below for answer...
Question: my wife has appx. 220k in an ira. she has also becomed disabled this last year. she is also drawing ssi disability. i would like to know if we file our income tax seperate but married. her ssi disability...
I purchased a used vehicle in July of this year and now have determined that it was a bad purchase. I paid Sales Tax on a value of $3,950 when I registered the vehicle. I am considering donating the vehicle...
Question: In 1995 I purchased shares of a mutual fund for approximately $45,000. Current value of the fund is roughly $90.000. I would like to sell this fund and invest in another. The fund is not tax deferred. My question...
Question Some of my former co-workers retired two years ago and warned me of the tax consequences of accessing social security benefits prior to the age of maximum benefits. What does not count as income in creating taxable social security...
I am 55 and retiring with over 30 years of service from a large local company. I have the option of taking a lump sum or a monthly annuity. Normally I would lean toward the lump sum, but with the...
Question I have a rental property that I fully depreciated using accelerated cost recovery (ACRS) in the 1980's and 1990s. My understanding is that if I sell it, I would have to recognize the entire gain as ordinary income. Is...
It seems that there are lots of calculators and tools available to show how to accumulate funds for retirement. There seems to be shortage of books/articles/tools explaining options for using these funds in retirement. Even some of the programs that...
Question We are interested in knowing the pros/cons of investing in "Index Annuities'" Please respond. Thank you for your help....
I am considering retiring at the end of 2009. My wife and I have spoken to a financial planner in the past concerning our 401K, Pension, IRA, etc. and have that part of it pretty well worked out. However, we...
Question: I work as a nurse case manager at home for United Health Care. I work here 5 days a week except for when I am required to go into the office for meetings. As I am doing my taxes...
Hello: How does one move his managed IRA portfolio out and over to the couch potato investments? Is there a tax penalty involved in this transfer? Also, in this economy, which is better, a fixed or a variable annuity? Thank...
Newsletter sign-up: Top Headlines
Get Breaking News on your cell