Q&A
Asked by Michael
Answered by Pamela J. Horack, PRO+
CFP® 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 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 PRO+
Financial Adviser 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 Linda
Answered by Anita Johnson
Financial Psychologist in Sacramento, CA
Linda, Thank you for the question. Sometimes these government forms can be so confusing. If I were preparing your 2013 Tax Return I would enter the information on the ...
Q&A
Asked by John
Answered by Michael Mezheritskiy
Financial Adviser in Avon, CT
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...
Q&A
Asked by Edna
Answered by Helen Barbre Stephens
Financial Adviser in Fort Worth, TX
Hi Edna, As when dealing with anything tax related, the answer is "that depends". A portion of SS benefits is taxed if income above a "base amount" (which is determi...
Q&A
Asked by John
Answered by Kim Miller PRO+
CFP® in Redmond, WA
I always advise 401k participants to max fund their account regardless of the match level. This means $17,500 per year if you are under 50 and $23,000 if you are 50 o...
Q&A
Asked by Lynn
Answered by Michael Hoffman PRO+
RFC, CLU, ChFC in Grass Valley, CA
Lynn, a triple tax free muni bond is one that avoids, 1-federal tax, 2-state tax and 3-local taxes. To benefit from all 3, you may need to reside in the locality of t...
Q&A
Asked by Brady
Answered by Martin Leclerc
Financial Adviser in Bryn Mawr, PA
A pre-tax contribution is the amount taken from your gross wage and placed into your 401k account before taxes have been deducted. By making pre-tax contributions, you...
Q&A
Asked by Martha
Answered by Kim Miller PRO+
CFP® in Redmond, WA
Good question. You may actually gain tax benefits by renting out a home. You can deduct some of the same expenses on a rental property as you do now: property taxes...
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