Wild Card Questions
Financial Repression
Hi Terry, I have been hearing the term “Financial Repression” a lot lately with the New Fed chair coming in..
Property taxes – Senior Freeze
A neighbor was granted a senior freeze on her property taxes. This year, her income was greater than allowed, so..
Walgreens stock
I owned Walgreens stock and when it got purchased there was supposed to be a settlement for the medical service..
Graduation gifts for an eighth grader
My grandson will be graduating from eighth grade. Would bars of silver be an acceptable gift? And where would I..
Retirement Taxes –quarterly estimates?
The wife and I recently retired, have reached full retirement age and have a “termination pkg” through 2026. We will..
Son -21 inherited ira
I haven’t told my son yet he has an inherited IRA from his dad, my ex husband. He has three..
Buying a new car — paying cash — from which account?
I am 72 years old and want t o buy new car and pay cash. Should I withdraw from IRA..
I cash found money
I received a letter from Michael Ferrichs, Illinois state treasurer regarding unclaimed funds. Should I trust it? the website given..
Taxes for free lancer
Hi Terry— As of January 15, I began freelancing about 5–10 hours per week. I’m trying to determine the best..
Liquidating a coin collectiont
My sister & I inherited a rather large coin collection from our dad. We want to sell off the coins..
Life Insurance Payout unclaimed after 20 years!
What are deadlines for collecting Life Insurance payouts,on uncashed Payout Check issued in 1997?? What legal steps are needed,and by..
Income tax extensions
On April 13th I sent via certified mail to the IRS & St of Illinois extension requests (because of late..
Charitable donation refund, charity dissolved; what to do. UPDATE from TAX ACT
Hi Terry, In 2024 I gave the Morton College Scholarship Foundation $5,000.00 to use for a scholarship in my dead..
Savings
can a bank charge a penalty for dormancy,while making money on our dime?
Stock Certificates
My husband passed away and left stock certificates (in a trust with his sister) to be cashed in. Who could..
Oil Prices
Hi Terry, this may be out of your realm, but, if the President keeps saying we are energy independent and..
Large cash deposit into bank
We are cleaning/emptying neighbors house. Wife passed away, husband still living in Alzheimer’s facility. Found $17,000 cash in basement in..
Fraud Protection
Hi Terry, I never miss your appearances on WGN. I received an alert from Discover Bank that my social security..
Using part of my RMD as a charitable deduction
Can it be a benefit to me tax wise to donate a portion of my RMD to charity? If so,..
Illinois Treasury unclaimed property
Hi Terry: We received a letter from the IL Dept. Of Treasury informing us of unclaimed money in our name...