Q&A
Asked by Nettrickr
Answered by Dave Bradley
Investment Manager (Financial Advisor) in North Charleston, SC
Investment Manager (Financial Advisor) in North Charleston, SC
Hi Nettrickr
A 1031 exchange is designed to
defer taxes. Check with your property attorney
for specifics in your situation.
The
exchange can include like-kind p...
Q&A
Asked by Tstepsr67
Answered by Jeffrey Schneider
Tax Professional
Tax Professional
An in-law can be a dependent like any other
relative. They would be called a qualified
relative. The main criteria is that you
provide more than half their support and...
Q&A
Asked by rlaughlin
Answered by Stephen Hartel
MBA, AIF in Denver, CO
MBA, AIF in Denver, CO
Q&A
Asked by an anonymous user
Answered by Dave Bradley
Investment Manager (Financial Advisor) in North Charleston, SC
Investment Manager (Financial Advisor) in North Charleston, SC
Hi anonymous,
Higher income is not
indicative of higher taxes. What is your
compound annual growth rate (CAGR) on the
maxed out 401(k)? Is it meeting your
lifesty...
Q&A
Asked by an anonymous user
Answered by Michael Karu
CPA/CFF/CGMA in Livingston, NJ
CPA/CFF/CGMA in Livingston, NJ
Interest and dividends earned on life
insurance policies are not includable for tax
purposes unless paid to a beneficiary and even
then, the insurance carrier would se...
Q&A
Asked by Dbrunman
Answered by Michael Karu
CPA/CFF/CGMA in Livingston, NJ
CPA/CFF/CGMA in Livingston, NJ
For 2017, the standard deduction for a couple
with the filing status of Married Filing
Jointly is $12,700. For each person aged 65
or older, there is an additional $1...
Q&A
Asked by cavener
Answered by Jeffrey Schneider
Tax Professional
Tax Professional
Your age is not relevant. you may deduct
gambling losses only if you itemize your
deductions on Form 1040, Schedule A and kept a
record of your winnings and losses. Th...
Q&A
Asked by Alan
Answered by Michael Karu
CPA/CFF/CGMA in Livingston, NJ
CPA/CFF/CGMA in Livingston, NJ
Q&A
Asked by an anonymous user
Answered by Michael Karu
CPA/CFF/CGMA in Livingston, NJ
CPA/CFF/CGMA in Livingston, NJ
The full value of the IRA is includable as
income by the beneficiary of that IRA. If no
beneficiary was named, then it is taxable to
the estate, which must file Form ...
Q&A
Asked by ravenknight10025
Answered by Jeffrey Schneider
Tax Professional
Tax Professional
The short answer is yes if the divorce was
basically finalized before very late 2017. If
after that date, it is neither taxable or
deductible under the new law.
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