Social Security Page 26

Social Security Questions

U.S. Economy

Hi Terry, would you please explain to me why, with the high unemployment rate and business closures, the stock market..

Sale of property

I sold property what I inherited what kind of tax am I going to be responsible for $210.00 property sale……………………..Thanks..

Disability payments payback over years

Briefly. I was on government disability 27 years ago for just over a year due to an almost fatal bout..

Tax Payment to the IRS by paper check via USPS

I have an offer in compromise that I have been paying regularly. My last 3 checks have not been cashed...

Tax refund

We filed / mailed paper tax form Feb. 24, and still have not received direct deposit of a large refund..

Capital gains on sale of a house

My mother in Ohio has moved to independent living and wants to sell her house (built in 1957). It’s in..

Deflation

I have heard the term deflation many times over the years, never in a good way. What exactly is deflation,..

Looming Bank Failures??

The following video talks about banks failing due to partaking in CLOs. How should small savers protect themselves? I’m thinking..

SS income and taxes

Wife and I have income less than 42k yr. combined, our accountant 6 yrs ago (retired) said I don’t need..

Illinois income taxes UPDATE. OFFICIALLY JULY 15

When must I file IL taxes? all information still says April 15th. I have reached out to my alderman, the..

Tax Returns for expat

Terry, I am an American Citizen returned and living in my native homeland Ireland. Although I have always completed my..

maximum deduction amount

Is $10,000 the maximum deduction allowed for the total of real estate taxes and charitable contributions? Is the standard deduction..

Why is the Sr. Deduction on federal income taxes only allowed if you take the standard deduction and not if you itemize?

With contributions and income/ property tax, our deductions equalled the standard deduction. To deduct more with the additional Sr. Deduction..

Past Taxes

Hi Terry – We are un financial ruins. We have not filed taxes for 2016, 17 or 18. We owed..

Inherited stock cost basis for inheritor

Must the inheritor of a mutual fund use the market value value of the fund on the day of transfer..

IRS and my son

I own my home, no mortgage. My son lives with me. He has a good job. Years ago he stopped..

Illinois State Sales Tax deduction

I am writing on behalf of my 89 year old father. He just recently did his federal income taxes and..

Quarterly taxes for freelancer?

Hi Terry! Since I was laid off from my job of over 15 years, I’ve decided to freelance. 2 of..

QCD from IRA

I recently turned 71 and am starting my RMD’s. We made a $5,000 contribution direct to a charity. I was..

medical deductions for income taxes in 2018

I had heard when the new tax laws went into place that the medical deductions were eliminated. I have now..

money

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