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I am really new to investing in stocks and am beginning on a
I am really new to investing in stocks and am beginning on a very small scale. But what are the implications with taxes?I live in Texas and am wondering how or what should I prepare to set aside for t… read more
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I'm single 69yo woman who provides all of my son's income.
I'm single 69yo woman who provides all of my son's income. He has four children. None live with me. I took the IRS quiz for dependents to confirm I can claim all of them. I have an IRA account from wh… read more
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I have inherited two IRAs from my sister. I am the sole
I have inherited two IRAs from my sister. I am the sole beneficiary on the accounts. They are both traditional IRA's so they are pre-tax. I understand that I can roll them into my own inherited IRA. H… read more
emc011075
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I am 61 years old and want to take a large portion of my
I am 61 years old and want to take a large portion of my 401K money to purchase a house. I will have retirement income with my pension, but do not want a house payment. What penalties will I incur doi… read more
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I inherited a 401k from my mother when she passed. Below are
I inherited a 401k from my mother when she passed. Below are the “need to know stuff” that will hopefully help me get an answer to some questions. The amount is around $100k. I currently make around $… read more
emc011075
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I am trying to understand that if I add an additional lump
I am trying to understand that if I add an additional lump sum to my 401K plan through my employer how it will affect the amount of taxes I will pay when I file next year. In a general sense, unless t… read more
NPVAdvisor
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Megan. I have another tax question.I have been given an
Hi Again Megan. I have another tax question.I have been given an opportunity to close out or rollover a pension plan with a company I once worked for. I was told by the Pension Holding Company that co… read more
NPVAdvisor
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I have an inheritance from my Dad's passing from a qualified
I have an inheritance from my Dad's passing from a qualified annuity $50,000 and $5,000 from his 401k. My income should be about 60k this year as it was last year. But, before deductions. So, AGI shou… read more
emc011075
emc011075
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I'm 39 years old and in the 25% tax bracket. If I take a
I'm 39 years old and in the 25% tax bracket. If I take a lump sum payout of my pension benefits I know there's the 20% penalty for taking it and another 10% for early withdrawal. If my tax bracket is … read more
Anne
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What tax rate will I be charged if I cash out my share of my
What tax rate will I be charged if I cash out my share of my husband's 401k in our upcoming divorce? I am trying to make some decisions on how I should use this money, and I have no idea what taxes I … read more
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We took a hardship withdrawal from our 401(K) last year to
We took a hardship withdrawal from our 401(K) last year to put a downpayment on a house. It took us out of the large MIP and PMI requirements needed for less than 20% down. We knew that we were going … read more
CFEPro789
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I will be earning gross income this year of 92000. I am hoping
I will be earning gross income this year of 92000. I am hoping with my deductions I will be just under the 82,400 cutoff for the upper end of 25% bracket. I claim 1 dependent (12 yr old), have a 3000 … read more
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Need help in figuring whether it would be advisable to convert
Need help in figuring whether it would be advisable to convert my regular IRA to a Roth IRA… read more
Jacy
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Dear Sir I am 51, single, make about $65,000 a year and
Dear Sir: I am 51, single, make about $65,000 a year and live in Florida. Approximately how much in tax and penalties would it cost me to take out $40,000 from my regular IRA to put a 20% down payment… read more
Charles Greiner
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I want to change a trditional IRA to a ROTH. I am 59.5 yrs.
I want to change a trditional IRA to a ROTH. I am 59.5 yrs. Will be working till 62. Should I have my IRA guardian take out withholding if so how much (% ). My income is 40-48 k. Single. I file 1040 n… read more
Bill
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If I file single when I am married simply because with my husband
If I file single when I am married simply because with my husband and me making about the same amount of money if we file as married we end up owning money, but if we file single we do not owe any mon… read more
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Anne
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Hi...I writing you to help me to get some answers to some
Hi...I writing you to help me to get some answers to some questions I have. I am thinking of closing out my roll over IRA..because of financial problems. I was in contact with the invest firm that I h… read more
Ed Johnson
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My mother recently passed away, and as her sole heir, I stand
My mother recently passed away, and as her sole heir, I stand to inherit her estate as well as her life insurance. I'm trying to wrap my head around tax consequences. As I understand it, the life insu… read more
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