Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
I have a question regarding a settlement offer that I have
I have a question regarding a settlement offer that I have rec'd which offers me a lump-sum in leui Monthly payments Which I receive From my former employer for disability. … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,490 satisfied customers
I received PPD award letter - I have an option to choose
I received PPD award letter - I have an option to choose lump sum or monthly $140 until age 70. If I choose lump sum how does it effect my tax return ( is it taxable income)? Is this lump sum part of … read more
Barbara
Barbara
Enrolled Agent, Paralegal
15,122 satisfied customers
My wife has been receiving -term disability payments of
My wife has been receiving long-term disability payments of about $155 monthly from a former employer. Their administrator is MetLife. Recently they sent her a letter offering a lump-sum payment in li… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I am negotiating with a former employer about a lump sum long
I am negotiating with a former employer about a lump sum long term disability plan distribution. I am 61 years old, will be 62 in December. Is there any advantage to delaying payment until after I am … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,490 satisfied customers
So im disabled and have a long term disability plan which im
So im disabled and have a long term disability plan which im being offerd a lump sum payout. Need to figure out what my tax liability is.… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,490 satisfied customers
I receive a monthly LTD private payment and SSDI monthly payment..I
I receive a monthly LTD private payment and SSDI monthly payment..I have no other income, pension, dividends or otherwise. My LTD carrier recently offered me a lump sum, using a present value of 3.65%… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,655 satisfied customers
a company has offered a lump sum settlement of $7,730 under
a company has offered a lump sum settlement of $7,730 under a Long Term Disability Policy. the indiviual is 55 years old and the monthly payments are $100 each month. I have two questions. One, will t… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,980 satisfied customers
I have been laid off due to economic slow down. My employer
I have been laid off due to economic slow down. My employer is offering a single lump sum payment for my salary for the balance of this year. What are the tax implications? I make 120K/yr, live in Col… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,490 satisfied customers
I live in California. I currently receive a monthly payment
I live in California. I currently receive a monthly payment from disability insurance. They are offering a lump sum payment for this as well as a lump payment for a life insurance policy through them.… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,490 satisfied customers
I have a client who inherited an annuity from his mother. The
I have a client who inherited an annuity from his mother. The annuity was not in a retirement account. The mother died in March 2009. It has taken the beneficiary until now to get the proper paperwork… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,490 satisfied customers
If I used the services of an investment firm to cash in (move
If I used the services of an investment firm to cash in (move my stream of income) my pension to them, how will my tax liability be changed? This income is taxable to my as ordinary income. Since I am… read more
Bill
Bill
Master's Degree
2,074 satisfied customers
I received disabilty long term insurance for a back injury
I received disabilty long term insurance for a back injury for a few years. I paid taxes on the disability payments I received each year. I applied for and qualified for social security benefits. Now … read more
Arthur Rubin
Arthur Rubin
Doctoral Degree
2,158 satisfied customers
Ive worked for a Japanese company for many years as a consultant.
I've worked for a Japanese company for many years as a consultant. 3 years ago I became their employee and have had a 401K plan. I'm facing a forced retirement in 6 months because they are closing the… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
My husband is permanently disabled. A small part of his income
My husband is permanently disabled. A small part of his income is from monthly long term disability payments (from an optional insurance policy we paid for while he worked, before he became disabled).… read more
Jon Andrews
Jon Andrews
CPA
1,498 satisfied customers
I paid weekly for long term disability insurance when I was
I paid weekly for long term disability insurance when I was working. I was disabled and receiving ltd and on my w2's they sent me it was listed as third party sick pay. I reported this to the IRS on m… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
if i receive a lump sum pay out from a long term disability
if i receive a lump sum pay out from a long term disability insurance policy premiums paid by my emplorer do i have to pay taxes in the year i receive payment or can it be spread out over more than on… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
I have been receiving Long Term Disability payments for about
I have been receiving Long Term Disability payments for about 3 years. I have not had to pay Tax on these payments. My LTD company has offered a lump sum settlement, if I accept the settlement is it t… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
My wife received a lump sum disability payment of $81,320 from
My wife received a lump sum disability payment of $81,320 from Social Security in 2008. We had to reimburse our disability insurance $49,563 of the $81,320. Can we deduct the $49,563 reimbursement pay… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,512 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,569 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x