Question: I took my required distribution from my IRA early in 2020. Now that the new tax law suspended the required distribution rules for 2020, is it too late for me to undo what I did?
Question: With the past and perhaps an impending further drop in the stock market, does it now make sense to convert my traditional IRA to a Roth IRA?
Question: My wife lost her job as a result of her company downsizing during the pandemic
and our family is now down to one income. Is there an effective way to tap our retirement accounts for the shortage of funds we now have without undue tax cost?
Question: With the recent stock market decline, does it make sense for me to sell stocks that have decreased in value to create losses for tax purposes and then buy back the same positions?
Question: Any suggestions on how to deal with the new rules on accelerated distributions for inherited IRAs?
Question: I recently accepted a job with a startup company and was given shares of company stock at no cost to me in which I will vest over a period of years. Do I have to pay tax on the shares I receive?
Question: I own a stock portfolio which has appreciated significantly in value over the years. Can I transfer the portfolio to my aged mother and have her transfer it back to me upon her death so I can benefit from a step-up in basis when she dies?
Question: I am planning to retire and give stock in my business to my children in the next few years. While I am not expecting any payments in return, I want to continue my salary following my retirement. Can the business continue to pay salary to me after I retire?
Question: I have funds in a Roth IRA, a traditional IRA and my employer’s 401(k) plan. Is there a way to avoid selling retirement account assets at a loss as I near the age where I must commence retirement plan distributions? Answer: Generally speaking, taxpayers must...
Question: I loaned a sizeable sum to my daughter to enable her to purchase a residence. While I expect to be repaid, there is no specific time for repayment and no interest will be paid on the loan. What are the tax consequences of this arrangement?