Asked by IRBY
Answered by Patrick Thuemmel
Financial Adviser in Dallas, TX
home equity line of credit?
Asked by Ms MM Davis
Answered by Kim Miller PRO+
CFP® in Redmond, WA
Hi - First off, you don't want to borrow money to pay your taxes. - that is a near sure road to an unhappy outcome. Secondly, you cannot borrow against (use as collat...
Asked by Henry
Answered by John Cole
Insurance Agent in Indian Trail, NC
I like annuities and life insurance. 401k's and IRA's can be a good investment but to be honest there's too many hidden fees in those products. In today's economy in r...
Asked by Kirt
Answered by Ted Rood PRO+
Mortgage Professional in Maryland Heights, MO
Agreed that some more details would be helpful. If you're talking about making a lump sum payment on a current mortgage, the answer is "depends". Some banks (includi...
Asked by Jose
Answered by Rob Jupille
Financial Adviser in Santa Monica, CA
An S Corp has both advantages and disadvantages compared to being a sole proprietor. From a self employment tax standpoint, by designating a 'reasonable' amount of he...
Asked by fcs
Answered by Phillip Christenson
CFA in Plymouth, MN
Hi FCS, the official rule is that you have to live in a property for 2 of the last 5 years before a sale. So yes if you move into the property you can avoid capital ga...
Asked by Meredith L
Answered by Paul Carag
Financial Adviser in Renton, WA
Hi Meredith, ultimately, this should be answered by a CPA with experience in these issues so I would encourage you to reach out to one. However, what I'm seeing in my ...
Asked by Elaine
Answered by MoneyTips Writing Staff
Financial Adviser in Los Angeles, CA
Hi Elaine, You can find information on how long to keep documents for tax purposes in this MoneyTips article: Financial Recordkeeping 101
Asked by an anonymous user
Answered by Stacy Marcus
CDFA™ CFEI™ in New York, NY
Hello, the rules governing social security are complex and it is best to consult with your tax planner/CPA as to your individual situation. In general, Social Securit...
Asked by franklin
Answered by Stephen Bowden
Accredited Investment Fiduciary AIF ® in Lakewood, WA
It depends upon the sponsor of the 401(k), and the may be limited by a maximum percentage of its worth. Best advice would be to talk with them to see what options you ...
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