Q&A
Asked by Michael
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
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
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
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
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
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
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
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
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
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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