Financial Advice Q&A

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Question

How will our annuity withdrawal be treated for tax purposes?

My wife had to cash in a small annuity before she was 59 1/2. She had to immediately for us to add to our down payment on our principal resi...

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02-22-2016 07:11 AM

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Should I adjust my withholding?

I will go from 3 Federal tax exemptions to 2 for tax year 2016, and my W-4 withholding is already at M-0. Does it make more sense from a tax...

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02-06-2016 10:19 AM

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How much tax will I pay on my IRA withdrawal?

how much taxes will i have to pay on withdrawal from my IRA, 10,000? I'm 60

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12-05-2015 11:48 AM

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Can my wife and I make deductible IRA contributions?

Can my wife and I both contribute $6500 each to separate traditional IRA and take a tax deduction of $13000 during tax year 2016 if we file ...

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11-02-2015 08:14 AM

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How do I handle TSP minimum distributions?

I have a TSP account and will be 70 in Mar 2016. I have been financially stable without withdrawing from it. What should I do to avoid the t...

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10-26-2015 06:07 PM

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What happens if I don't payoff a 401(k) loan?

Hello, Approximately three years ago I took out a loan from my 401K to finance a second mortgage for a new home. Now I am un-employed and am...

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09-19-2015 07:37 AM

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What to do with $75K from sale of rental?

Joseph, If Harvey49 is going to receive $75 to $80K from selling a rental house and intends to put it into a house for his son, aren't there...

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08-29-2015 06:00 PM

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How much house should I buy?

I currently rent and I get hammered on taxes at the end of the year. I am contemplating buying. Should I buy a more expensive home and get a...

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08-24-2015 12:10 PM

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Should I convert to Roth?

I'm 69+ years old. I have a bunch of money in IRAs. For the last several years and for several years to come, my wife has owned a business t...

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07-20-2015 10:28 AM

Question

What are rules for withdrawing inherited Roth IRA?

My wife is a partial beneficiary for her fathers Roth IRA. We are hoping to use the funds to facilitate a move into a place that better suit...

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06-12-2015 06:16 PM

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