Q&A
Asked by an anonymous user
Answered by Michael Karu, CPA/CFF/CGMA in Livingston, NJ
When we prepare tax returns for couples, we routinely check to determine whether married filing jointly or separately is more beneficial. The process is to calculate ...
Q&A
Asked by Mary
Answered by Kim Miller, CFP®PRO+ in Redmond, WA
Hi - The annual gift tax exclusion allows you to give $14,000 per year to any one person without filing a gift tax return. A married couple who "join" in the gift ca...
Q&A
Asked by an anonymous user
Answered by Mark Haynie, Mortgage Broker in Los Angeles, CA
Unfortunately, the 547 score is a lower score than any lender will consider. I recommend that you consult with a professional in the credit repair business and develo...
Q&A
Asked by victor piediscalzo
Answered by Tracy Scott Burke, CFP®, ChFC® in Harrisburg, PA
Victor, Thanks for your question. Some type of a tax-deferred retirement account would likely be best in your situation in lieu of bank savings. If you have acces...
Q&A
Asked by Erin
Answered by Prateek Mehrotra, Financial Adviser in Appleton, WI
Erin, Here is a simple way to do this. After you sell your stocks you will know the selling price. Your Capital Gains is equal to the difference between the Selling...
Q&A
Asked by Michael
Answered by Pamela J. Horack, , CFP®PRO+ in Lake Wylie, SC
Hi Michael! I'm a huge fan of paying off debt as soon as possible. You can't build your finances up if you are busy filling in a hole of debt. Make a plan to focus all...
Q&A
Asked by Katie
Answered by Michael Hoffman, RFC, CLU, ChFCPRO+ in Grass Valley, CA
Katie, Conversion from a traditional IRA to a Roth IRA is beneficial when the amount you are converting allows you to stay in the same tax bracket and you have time...
Q&A
Asked by Lynn
Answered by Martin Leclerc, Financial Adviser in Bryn Mawr, PA
First, dividend payments by corporations are not a deductable expense. Therefore, dividends are paid from after-tax income by companies with profits. Second, any ...
Q&A
Asked by Brady
Answered by Winnie Sun, Financial AdviserPRO+ in Irvine, CA
Michael did an excellent job answering this question. You may want to take advantage of this change to also update your retirement plan. Since two of the above three o...
Q&A
Asked by John
John, the best way and the easiest way to describe a zero coupon bond is - It is a bond that is sold under its face value, meaning at a discount. however when it matur...
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