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Personal Finance FAQs

  1. How does the 80% rule for home insurance work, and how do capital improvements affect it?

  2. What is authorized stock?

  3. If an employee is paid by commission, who is responsible for withholding taxes?

  4. What are some commonly missed deductions for business owners?

  5. I inherited a Roth IRA. What are my options for taking distributions from the account?

  6. How can I find out if my employer is a member of FINRA?

  7. What is the best way to budget for holiday and special event spending?

  8. Can I roll my SEP IRA into a Traditional IRA or should I convert to a Roth?

  9. I want to close my IRA account. What percentage will I lose to tax?

  10. What is the difference between a Keogh and an IRA?

  11. How do I use the IRS Free File tax forms?

  12. What kinds of investments are allowed in a qualified retirement plan, and what kinds are forbidden?

  13. What are some of the features and benefits of SEP IRAs and Roth IRAs?

  14. My company is the trustee of our 401k plan (which has 112 participants). What are the pros and cons of having the company instead of the plan provider/vendor as the trustee?

  15. Can I pull out most of my assets from my IRA and use the cash as long as I replace it in the IRA within a year?

  16. My 80-year-old mother used her Roth IRA assets to make an $11,000 annual gift tax exclusion. Will these still be considered Roth IRA assets?

  17. Why did the New York Stock Exchange report prices in fractions before it switched to decimal reporting?

  18. Can 529 plans be used to transfer wealth to other family members if the original beneficiary does not use the money?

  19. My uncle died recently. He designated my mother and father as his beneficiaries in 1997, after his divorce, and did not make any changes after he remarried in 2000. My uncle's current spouse is now fighting for money from the plan. Does she have a leg t

  20. How can I make sure that past IRS errors have been corrected?

  21. I am starting a limited liability company (LLC). I will be the sole member. Can I open an SEP IRA? How much tax-deferred money would I be able to contribute each year?

  22. What are the rules and reporting requirements for a rollover of a required minimum distribution (RMD)?

  23. What is the relationship between oil prices and inflation?

  24. What are the steps to get a company listed on the OTCBB?

  25. If I roll my annuity into an IRA and receive after-tax distributions, will this be considered taxable income?

  26. What will happen to my SEP IRA if I leave my current employer?

  27. I'm 70.5 and still working for my own company. Can I defer starting my required minimum distributions?

  28. I am interested in pursing the CFA charter, but I do not have a degree in business and have not worked within the financial or investment environment. Do I still have a chance of successfully completing the course?

  29. If there are two plans and one is terminated, creating a distributable event, can loans in the terminated plan be rolled over?

  30. How does online banking assist with budgeting?

  31. Health problems caused me to take my RMD after the deadline. Can I appeal my case to the IRS?

  32. What is estate planning?

  33. Does it make sense to get my house and car insurance at the same place?

  34. What is a blackout period?

  35. What's the difference between bottom-line and top-line growth?

  36. I converted my former IRA to a Roth for tax purposes in 1998, so even though the tax was paid over four years, am I correct to assume that this is now mine to withdraw, if I like, at no penalty? I am 60 years old.

  37. Does participation in a 401(k) plan prevent an individual from contributing to a Traditional IRA?

  38. My recently deceased spouse's IRA has been rolled over into mine. Does the cost basis change for me?

  39. What exactly is a company's float?

  40. Can a spouse who is not named as a beneficiary receive assets from an IRA?

  41. What is a good book on creating a trust that would qualify as the beneficiary for an IRA?

  42. Can IRAs be held jointly by spouses?

  43. What are the tax consequences of a Roth IRA distribution if the IRA holder is younger than 59.5?

  44. Where can I find information on how to distribute my deceased parent's assets?

  45. Why won't my broker allow me to sell one stock and buy another on the same day?

  46. Why would my stock's value decline despite good news being released?

  47. Can an IRA owner disclaim his widow's account but exclude one spendthrift contingent beneficiary?

  48. Do I have to continue SEPPs for an inherited IRA?

  49. How can I use a child tax credit?

  50. I have two Roth IRAs, one of which has a balance that is much less than the total contributions I have made to the account. Can I write off the losses for that account?

  51. What is a trailing commission?

  52. What is the difference between bad credit and no credit?

  53. What types of plans allow catch-up contributions?

  54. Are all bank accounts insured by the FDIC?

  55. What's the difference between casualty insurance and disability insurance?

  56. How is something "brought over the wall" in an investment bank?

  57. Who qualifies as "single" for tax or retirement purposes when spouses do not live together?

  58. I work for a university, and I have a 403(b) with TIAA-CREF. But TIAA-CREF says I cannot transfer money to another provider. Can they prevent me from transferring my money to a better investment?

  59. Can I roll over a profit-sharing plan to an SEP IRA account without suffering any tax penalties and liquidation of current positions held in this account?

  60. Can an individual contribute to both a Roth IRA and a Traditional IRA in the same year?

  61. Can my spouse and I convert our IRAs to Roth IRAs regardless of earned income?

  62. How can I find an investment club in my area?

  63. Can the non-spouse beneficiary of an IRA name a successor beneficiary?

  64. How do I sign up for the saver's tax credit?

  65. I have a small business, and I'm considering setting up an SEP IRA. What are leased employees? Does this term refer to outside contractors who receive 1099-Rs? If so, how would the 5305-SEP need to be worded to make it acceptable to the IRS?

  66. I earn more than the income limit for both a Roth and Traditional IRA deduction. Should I contribute anyway?

  67. If a trust is named as the beneficiary of an IRA, can the trustee of that trust become the beneficiary without the IRA owner signing the Change of Beneficiary form?

  68. I am a non-U.S. citizen living outside the U.S. and trading stocks through a U.S. internet broker. Do I have to pay taxes on the money I earn?

  69. What does the diluted share price reveal about a company's financial strength?

  70. Do underwriters make guarantees to sell an entire IPO issue?

  71. Can my spouse and I use our IRAs to purchase our first home?

  72. How can I tell if I'm eligible for an EITC?

  73. Are any special forms or documents required when transferring an IRA/SEP/SIMPLE to a Traditional IRA?

  74. I have two jobs. Can I contribute to two SIMPLE IRA plans?

  75. How can I improve my credit score?

  76. What effect will a prenuptial agreement have on a 401(k)?

  77. What is variable life insurance?

  78. What is the relationship between the PPI and the CPI?

  79. What is inflation and how should it affect my investing?

  80. How are a company's financial statements connected?

  81. If an individual still has his or her former spouse as the beneficiary of an IRA, does the former spouse receive the assets upon the individual's death?

  82. I am a teacher in a public school system and I don't presently have a 403(b) plan, but I do have some money in a Roth IRA and also a self-directed IRA. Can I roll my IRA funds into a newly opened 403(b) plan, since I am presently employed by the school sy

  83. There are so many stockbrokers out there. How do I go about choosing the best one for me?

  84. I am 52 years old and wish to make a withdrawal from my 401(k) plan. Is there any way I can avoid having to pay additional tax on the grounds of hardship - e.g. unemployment?

  85. I make over $100,000/yr and my adjusted gross income precludes standard IRA contributions. My contributions to my 401(k) plan at work are limited to about $7,000/yr. It seems I'm being penalized for my income. Are there other retirement savings options av

  86. Earnings within a Roth IRA are tax free, so are these earnings included in the modified adjusted gross income which is used to determine Roth IRA eligibility?

  87. I am only 17 years old. I don't have a job or pay taxes. Can I contribute to an IRA?

  88. I want to purchase a five-year period certain single premium immediate annuity (SPIA) with my IRA account. I'm 53. Will the 10% penalty apply?

  89. If I pay for a course to learn about trading can I write some of it off?

  90. What happens if a company doesn't think it will collect on some of its receivables?

  91. What is the purpose of a "repatriated tax break", and why is it so controversial?

  92. Where can I find information on multiple annual additions for someone employed by more than one unaffiliated company?

  93. I sold my house. Can I exclude the gain from my income?

  94. Can I contribute to both a 401(k) and an IRA?

  95. What is the difference between a collateralized mortgage obligation (CMO) and a collateralized bond obligation (CBO)?

  96. Can a creditor seize my retirement savings?

  97. I just opened an IRA. What can I do to help my money grow?

  98. Who coined the term "entrepreneur"?

  99. What is term insurance?

  100. Why is my insurance premium so high/low?

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Last Questions Asked:
  1.

    If I want to have some cash in a liquid account for unexpected emergencies, what is best? A savings account or another type?

  2. How are capital gains and dividends taxed differently?

  3. What is pay-as-you-drive auto insurance?

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