Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

I have a savings bond account with approximately $80,000 in…

Customer Question
I have a savings...

I have a savings bond account with approximately $80,000 in undeclared interest. 30 of these bonds will be maturing in 2030, at which time the tax bill for all accumulated interest ($43000 as of today will be due in a that year.

Accountant's Assistant: The Expert will know what to do. Is there anything else the Expert should be aware of?

I will be 70 1/2 next year and i will starting to make mandatory withdrawals from my IRA ($14,000 next year).

Submitted: 8 months ago.Category: Tax
Show More
Show Less
Ask Your Own Tax Question
Answered in 4 minutes by:
9/7/2017
Tax Professional: Lane, JD, CFP, MBA, CRPS replied 8 months ago
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 14,195
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
Verified

Hi My name’s Lane - I hold a law degree (J.D.), with concentration in Tax Law, Estate law & Corporate law, an MBA in finance, a BBA, and CFP & CRPS (Chartered Retirement Plans Specialist) designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice 1986.

...

Everything you've said is a true statement. How can I help? What's your question?

Ask Your Own Tax Question
Was this answer helpful?
Ask Wallstreet Esq. Your Own Question
Wallstreet Esq.
Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 586
586 Satisfied Customers
Experience: 10 years experience

Wallstreet Esq. is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

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

4,495 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

15,272 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 >

Related Tax Questions
Can I use my ira account to donate to a non profit
can I use my ira account to donate to a non profit origination? … read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
2,199 satisfied customers
If you are a member of a registered non-profit organization
if you are a member of a registered non-profit organization does an employee making less than $900.00 a year for office work have to file this with the IRA ? … read more
Lane
Lane
JD, CFP, MBA, CRPS
14,195 satisfied customers
Non profit UBIT and the 990T. Helping a friend non profit
Non profit UBIT and the 990T. Helping a friend non profit that recently sold rental house with a mtg. So I have the calculation on what of the total gain is taxable. But now confused on how to report … read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
1,026 satisfied customers
Can a private individual invest in a non-profit organization
Can a private individual invest in a non-profit organization in the state of Iowa … read more
Lane
Lane
JD, CFP, MBA, CRPS
14,195 satisfied customers
How do I verify a Tax Id Number for a non profit Cemetery
How do I verify a Tax Id Number for a non profit Cemetery Corporation? … read more
abci168
abci168
Principal
27 satisfied customers
Tax question I paid to a non profit organization in India,
Tax questionI paid to a non profit organization in India, for Rs. 25000. Can this qualify as a tax deduction? Is it eligible? Please provide IRS references.… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I will be receiving money from a non profit for creating
I will be receiving money from a non profit for creating curriculum in the amount of 10k - receiving 2k per month for 5 months - I am filling out a w-9 and they are claiming via 1099. So how do I go a… read more
Dr Arthur Rubin
Dr Arthur Rubin
Doctoral Degree
24 satisfied customers
We are a small non-profit association for a fire department
We are a small non-profit association for a fire department that has fund raisers that collect <$5,000 annually. We spend this on safety items and have a non-profit number. First time as treasurer … read more
Barbara
Barbara
Enrolled Agent, Paralegal
5,117 satisfied customers
NON PROFIT SCHOOL RENTS A BUILDING. THE ENTIRE BUILDING WAS
NON PROFIT SCHOOL RENTS A BUILDING. THE ENTIRE BUILDING WAS REPAINTED FOR $35,000. … read more
ABC Accounting Group
ABC Accounting Group
Bachelor\u0027s Degree
836 satisfied customers
We are a 501(c)3 fiscal sponsor for another non-profit. They
We are a 501(c)3 fiscal sponsor for another non-profit. They now have established their own 501(c)3 status, and we need to transfer the assets on our books that actually belong to them. What's the bes… read more
Lane
Lane
JD, CFP, MBA, CRPS
14,195 satisfied customers
How do I renew the tax except certificate of a non-profit
How do I renew the tax except certificate of a non-profit charitable organization? … read more
Barbara
Barbara
Enrolled Agent, Paralegal
5,117 satisfied customers
Non-for-profit collects sales tax on some of its sales in
Non-for-profit collects sales tax on some of its sales in NYS. When this NFP files Sales tax return, what should it put in Gross Sales field? Overall Gross Income that included membership dues, donati… read more
Barbara
Barbara
Enrolled Agent, Paralegal
5,117 satisfied customers
I earned 16040 in 2017 from a small non-for profit. The
I earned 16040 in 2017 from a small non-for profit. The non-for -profit neglected to file a w-2 for me, but is happy to do so now. Is it a problem that he has not withheld social security and health l… read more
Lane
Lane
JD, CFP, MBA, CRPS
14,195 satisfied customers
For a religious non profit which trains and encourages
For a religious non profit which trains and encourages overseas pastors, would travel expenses be considered part of the program? Secondly, if a board member travels to administer the training (i.e., … read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
Trying to determine the tax status of a non profit group. We
trying to determine the tax status of a non profit group … read more
Lane
Lane
JD, CFP, MBA, CRPS
14,195 satisfied customers
Are religious (church) non-profits required to file state
Are religious (church) non-profits required to file state and federal taxes annually? … read more
Lane
Lane
JD, CFP, MBA, CRPS
14,195 satisfied customers
Interested in information about new tax laws and their
Interested in information about new tax laws and their effect on S Corporations … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Do you know non profit tax law? California. The 501(c) 3 has
Do you know non profit tax law? JA: Can you tell me where the nonprofit is registered? Customer: California JA: Has anything been officially filed? If so, what? Customer: The 501(c) 3 has existed sinc… read more
Lane
Lane
JD, CFP, MBA, CRPS
14,195 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.

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