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Remember that there are tax issues related to joint ownership. Just adding a spouse’s name to an account doesn’t make the account joint for tax purposes. assets – like bank accounts, investment accounts or real estate – won’t generally create any immediate tax

That program has very low income/asset threshold qualifications.

beneficiary on the account from one eligible family member to another without any type of penalty or tax You can review the entire list in IRS Publication 970, Tax Benefits for Education.

can be complex, and understanding them in time to react can be particularly important for moderate-income

Let’s first look at the “five year” rule for withdrawing funds tax-free from a Roth IRA. For instance, if you deposit $1,000 in a Roth IRA, you can withdraw that same $1,000 at any time, tax-free However, you can’t take a tax-free and penalty-free distribution of earnings on your funds until the However, the laws involving probate, property, trusts and estate taxes are different in each state.

health insurance, it may be difficult to locate a provider whose insurance is accepted (for medical and tax U.S. expats should know that most foreign investments may be subject to punitive U.S. taxation and costly

That’s because there’s a difference in tax treatment of living persons vs. trusts.

Debt that provides you with a tax deduction, such as a mortgage, is a better kind of debt. However, credit card debt is bad debt because the interest isn’t tax deductible and those interest rates

recent credit card and mortgage statements; Investment account statements; The past three years of tax

If your spouse, children, or parents depend on your income, be certain to have life insurance.

can own just about anything other than retirement benefits, since collecting retirement benefits is a taxable

your savings accounts from becoming depleted by increasing healthcare expenses, and premiums may be tax