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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 577
Experience:  10 years experience
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I received a sizable inheritance and have been on SSDI for

Customer Question

I received a sizable inheritance and have been on SSDI for bi-polar disease for many years. No one in my immediate family is savy about tax issues. My step-sister suggested a financial adviser and I worked with him. He knew about the bi-polar and SSD. He strongly urged me to invest in annuities stating I would get killed in taxes otherwise; and that my ssd would not be touched. I guess you know what happened next, I owe 30,000.00. By the way, how do brokers make their money?
JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?
Customer: Only that he is guilty of non-disclosure, has 3 addresses, emails and phne #s.
JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Accountant about your situation and then connect you two.
Submitted: 8 months ago.
Category: Tax
Customer: replied 8 months ago.
The broker has also been brought up for 3 charges. By the article it seems he is bound to disclose just like he was supposed to disclose the no-tax issue which he stated exactly opposite.
Customer: replied 8 months ago.
and he uses 3 different addresses, telephone numbers and email accounts, none of which he ever responded to. I had called JNL trying to reach him and they had never heard of him.
Customer: replied 8 months ago.
(Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Customer: replied 8 months ago.
(Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  Stephen G. replied 8 months ago.
What exactly is your question at this point?Brokers selling annuities are compensated by commission based upon the size of your investment.What state do you reside in?What type of taxes do you owe?What is the amount of your inheritance and how much did you invest in the annuities?Do you know the name of the Insurance Company that issued the annuities?When did you purchase the annuities?
Expert:  Stephen G. replied 8 months ago.
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