Financial Advice Q&A

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Question

Will I avoid the 10% penalty if I pull money from my 401(k)?

I want to withdraw from my 401K without the 10% penalty although I am not 59 years old yet. In reading the IRS guidelines about withdrawing ...

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05-18-2015 10:56 AM

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What's best tax deal for retirees?

What States provide the most advantageous tax treatment of Federal Pensions?

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05-17-2015 12:38 PM

Question

Is a wedding gift taxable?

I want to give my son and his wife to be $30,000.00 as a wedding gift. What are the federal/state tax requirements?

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05-11-2015 04:55 PM

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How much should I withhold for state taxes?

What number of exemptions should I put on my tax form (not sure but is it a W-4 for Maryland state taxes?) in order to at least not owe the ...

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04-26-2015 12:44 AM

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Can I rollover the capital gain on my house into a new property?

I will be selling my second home and expect a fair amount of profit. How do I minimize what I will be taxed on. I will be building a new pri...

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04-22-2015 05:20 AM

Question

Can I deduct an IRA contribution?

I have a traditional IRA with USAA and I owe 1k and change for 2014 taxes, can I contribute to a traditional traditional IRA and reduce my t...

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04-12-2015 10:30 AM

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What are the taxes if I roll an IRA to a Roth IRA?

Do I have to pay tax if I rollover: Mutual Fund - IRA to Roth IRA If yes, is it on all money, or just earnings?

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03-02-2015 05:57 AM

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I'm 59 1/2, can I convert my IRA to Roth IRA?

I have both Traditional and Roth IRAs. I am also over 59-1/2 years of age and may begin withdrawals without penalty. Question: Can the money...

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02-27-2015 12:39 PM

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Should I cash in my 401(k) to pay taxes?

I would like to pay my taxes (owe about 16K- OUCH!!!) and buy a house... have about 29K in my 401 and make a little less than 8000 per month...

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02-18-2015 10:06 AM

Question

Does military retirement allow me to make an IRA contribution?

How is military pension classified: Is it earned income? Is it taxable compensation? From what I can understand, social security is not dedu...

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02-01-2015 07:19 AM