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My wife and I own a residence in Connecticut and one in

My wife and I own a residence in Connecticut and one in South Carolina. Can one of us be a resident of each state and if so How does that affect both our state and federal taxesJA: Has anything been filed or reported?Customer: We are both Connecticut residents currently, however we are thinking it would an advantage if each of us claimed separate state residencyJA: Anything else you want the lawyer to know before I connect you?Customer: No

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Robin D.

Vocational, Technical or Trade School

22,424 satisfied customers
Ok thanks! I have a few questions about my boyfriend's Roth

Hello Pearl!JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: Ok thanks! I have a few questions about my boyfriend's Roth IRA.JA: Is there anything else important you think the Accountant should know?Customer: Yes, just a moment, I will type it up real quick.

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

19,768 satisfied customers
My wife and I are separated and reside in different states

My wife and I are separated and reside in different states (I am a New Mexico resident, she is a South Carolina resident). Can we still file a joint Federal return and seperate state returns?

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Robin D.

Vocational, Technical or Trade School

22,424 satisfied customers
I am a retired 72 year old with a $178, 000.00 IRA with

I am a retired 72 year old with a $178, 000.00 IRA with current MRD of about $7000.00 a year. I owe $53,000.00 on my children's student loans paying close to $1000.00 a month2015 taxable income (with MRD) $54,890.00, Total Tax $7309.002016 will be about the same as 2015My financial advisor recommended I contact a professional tax advisor and ask this basic question: What would be the Federal tax burden for withdrawing $53,000.00 from the IRA in 2017 instead of the standard MRD? That is, is there an additional penalty over and above the tax for the regular MRD? Knowing that I can determine if the additional tax would be burdensome or whether it would offset sufficiently by the savings of closing the Student loans in one year.Thank you.

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

19,768 satisfied customers
I owe alot of med. bills. I am disabled if my wife claims me

I owe alot of med. bills. I am disabled if my wife claims me as a dependent can they keep her refund due to that withholding lawJA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I live in south carolinaJA: Is there anything else important you think the Accountant should know?Customer: no just that i owe alt of med bills and i"m disabled

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

19,768 satisfied customers
I have not been working for a couple of years now, and as a

I have not been working for a couple of years now, and as a result was not obligated to pay any taxes because I did not have any source of income. I have 75K invested with a brokerage in the form of of and IRA/money market account, and it is not generating any significant interest. I want to close this account and transfer the proceeds to my regular bank account, to clean up credit card debt, and use the leftover amount to live on until I find another job. So, I have been wondering if I will be liable for any taxes on the 75K i am about to withdraw, and if there are any taxes, what is the best way to proceed to avoid paying them?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

19,768 satisfied customers
I am in Michigan with a L2 visa.We are going for a card

I am in Michigan with a L2 visa.We are going for a green card soon. If I inherit in the following 5 years in Mexico 600000 usd from property and bank account. What tax ($) should I pay once resident?

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Robin D.

Vocational, Technical or Trade School

22,424 satisfied customers
A person who is low income with a child files a federal

A person who is low income with a child files a federal return and usually gets a refund of around 3,000. Sharing custody with a doctor with a large income maybe 150,000. Am I right in my thinking that that tax benefit the doctor will see from attaching the child to her reteurn as a dependant will be far less than the benefit the low income disabled person will. I estimated that the doctor might see a reduction in her taxes of $100 or less. Whareas the low income person sees the refund. Is this sound thinkin?JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: no

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

4,942 satisfied customers
I'm considering retirement in May 2017, I'll be 65 and I've

I'm considering retirement in May 2017, I'll be 65 and I've obtained an estimate online as to how much I will draw what I need to know is at what rate will it be taxed?JA: It's only $5 .Customer: I don't understand your answer?JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: Not that I know of.

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Robin D.

Vocational, Technical or Trade School

22,424 satisfied customers
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