Does the rule of 55 apply to pensions?
The Rule of 55 doesn’t apply to any retirement plans from previous employers. Additionally, the Rule of 55 doesn’t work for individual retirement accounts...
Category: Updates
Can one spouse be on the mortgage but both on the title?
No – you can have only one spouse on the mortgage but both on title. Both owners of the home, typically being spouses listed on the deed, do not have to b...
What happens if child moves out of state?
If the custodial parent moves the minor child without court permission and against the noncustodial parent’s wishes, a judge may sanction (punish) the cus...
Can a church be a nonprofit organization?
The IRS automatically recognizes churches as 501(c) (3) charitable organizations if they meet the IRS requirements. Keep in mind, however, that churches m...
What should I do before selling my parents home?
“Before you can sell the house, you need to identify all of the heirs, and find out which one is the named executor or personal representative who is then...
How can I get my 2011 tax return?
Call the IRS at 1-800-908-9946 2. You will need to enter your social security number and numbers in your street address that was used on your filed tax re...
What are shareholder notes payable?
Notes payable to officers, shareholders or owners represent cash which the shareholders or owners have put into the business. For tax reasons, owners may ...
Is it worth renovating a mobile home?
Manufactured homes typically depreciate in value over time, while stick-built homes tend to appreciate. The older a mobile home is, the less likely that r...
What is a good ratio for budgeting?
The basic rule is to divide up after-tax income and allocate it to spend: 50% on needs, 30% on wants, and socking away 20% to savings. 1 Here, we briefly ...
What happens when a company announced dividends?
The news of dividend being announced increases the price of the stock. Once the dividend is distributed, the traders then sell the shares and earn good pr...
