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Tax Planning: U.S.

Recent Answers

2016-12-02 Nonprofit Law - Transfer of Non-profit Assets:

I have in my profile that this free forum is only for general questions about IRS federal exemption issues of 501(c)(3) organizations. I can answer "yes" to the first two questions.  As for the threat

2016-12-02 Tax Planning - 2 Tax Questions:

Maybe this clarification will help:    Distributions come out of a Roth IRA in the following order.  1) Contributions: Distributions are tax free and penalty free until total distributions exceed total

2016-12-02 Tax Planning - Dual property ownership & Taxes:

Larry - You had a basis when she deeded you the property.  That is your basis.  The remaining basis (hers) steps up.  See:

2016-11-30 Tax Planning - Inherited ira:

Susan - the answer to your question is "yes" BUT making a contribution to a traditional IRA and taking the deduction is subject to income limitations, so if the inherited IRA increases your income past

2016-11-29 Tax Planning - 2 Tax Questions:

Christian -    Let's tackle your questions one at a time.     1) I don't know how old you are or how long you have held your Roth IRA for.  However, in general, here are the rules for distributions from


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