asked
I am currently unemployed and have my family paying my medical bills and health insurance. Can I use money from a past Simple IRA to reimburse them or myself for out-of-pocket medical expenses without the usual 10% penalty, given that my regular tax should be low due to making very little this year?
February 26th, 2024
How long after receiving state taxes does the federal tax refund typically arrive?
November 25th, 2023
My coworker paid $15,000 in interest on her $300,000 acquisition debt for her house, which has a fair market value of $500,000. She also paid $4,000 interest on her $30,000 home equity loan, $1,000 of credit card interest, and $3,000 of margin interest for stock purchase. She had $10,000 in interest income and no investment expenses. We were talking and I think she could deduct $23,000 in interest expenses. She is thinking a $19,000 deduction. Help.
June 10th, 2023
What is the average yearly miles reported by electricians in California?
December 15th, 2023
Upon my death, if I leave my 1/2 interest in the house to my children, will the taxes be uncapped? My wife previously quit-claimed her interest to our children in 2000, and the title currently reads that I own 1/2 interest, and my children own the other 1/2 as joint tenants with right of survivorship.
August 13th, 2023
My mother inherited half of a farm in NY when my father died in 2003. The farm is now being sold for $80,000, with $40,000 going to my mother. Is there any tax or penalties for my mother on this inheritance, especially since she is on a fixed income and needs to use some of the money for medical bills? What is the best way to handle this?
January 17th, 2024