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Posts Tagged ‘wants’

IRS wants taxes on sexual harrasement settlement > anything I can do??

10 Jul

I just received a letter from the IRS regarding my 2006 return. They say I didn’t pay taxes on a sexual harrasement settlement. The people that paid the settlement reported to the IRS twice, using 2 different addresses (therefore stating I received twice the amount that I actually did receive). I never received a 1099 on this and did not claim it on my return. Any advice on what I should do. I have put in a call and am waiting to hear from an accountant.

 
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Toni Torres wants to save $1,300 in the next two years to use as a down payment on a new car.?

31 May

Toni Torres wants to save $1,300 in the next two years to use as a down payment on a new car. If her bank offers her 7% interest, what monthly payment (pymt) would she need to make into an ordinary annuity to reach her goal? (Round the answer to the nearest cent.)

 
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My boyfriend’s mother wants him to cash a settlement check in his name, not hers. Is this a good idea?

27 May

His mother is currently on social security disability, and she is worried that if the check is cashed in her name, it will effect her medicare benefits. She fell in a school and is now receiving a settlement payment for her injury. I’m not sure if this is a good idea, since I fear he may have to pay taxes on the sum if it is cashed in his name. She is telling him that the settlement is “tax-free”, but I don’t believe it.

 
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My dad has a variable annuity and wants to get rid of it.?

17 Apr

Well first off my dad doesn’t speak English very well. He claims that originally his company set up an IRA for him (something like that) and now it has become an Annuity. For 16 years it has sat around 3-5k.

He wants to roll over to an IRA or wants to know what his options are. He is in his mid 50s. I have no idea about these things. Thanks for any help.

 
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Your aunt is about to retire, and she wants to buy?

22 Mar

,an annuity that will supplement her income by $65,000 per year for 25 years, beginning a year from today. The going rate on such annuities is 6.25%. How much would it cost her to buy such an annuity today?

$770,963.15
$811,540.16
$852,117.17
$894,723.02
$939,459.18

 
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my mother is 81 and wants to purchase a fixed annuity. does the principle go directly to beneficiaries upon?

17 Mar

her death? i’m asking because she may only get that income for a few years. i don’t want $200,000.00 to go down the drain and she only had 2 or 3 years of income. how much should she expect per month?

 
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What does “estate” include? Brother wants insurance, annuity proceeds for which I am beneficiary.?

17 Mar

Am executor of Mom’s will, she left $4000 Brother and I split services cost,I paid remainiing bills from my money so that he would have some “inheritance” from the estate. Otherwise, he would have been left with nothing. Will states he was left the estate because Mom gave me money before, and mentions that “other considerations” were made for me.There is an insurance policy and an annuity listing me as beneficiary, one annuity that lists us as co-beneficiaries, and one annuity that lists him as beneficiary. He claims all of it, saying Mom meant to leave it to him because she gave me $ years before. He says she meant for it to pay for services, or she thought the will would override the beneficiaries. Dates on these policies predate the will. He wants it all. He paid for more than we agreed on (like plane ticket for son) mentions how little he got, mentions gas to drive here. What is “estate” What should I give him? Please help.
State is Illinois. Was his son. He got all the $4000. I paid my share of expenses from the insurance policy money I received. No other siblings.He and I agreed on fairly minimal services. After talking to other family members, he decided he wanted much more. He traveled quickly to the funeral home and would not give permission for what he and I had agreed on.I told him this was his decision and the extra cost was his. Now he complains that he has little money left, keeps saying Mom wanted him to have all the money from all the sources. 1993 will, never changed. Annuities and life insurance were done before will. She changed only one beneficiary (from me to him) in these years.I assume the attorney ensured she understood everything. Money she gave me years ago and what I just received, equals more than he received. Current amounts were about equal before his expenses. We aren’t talking much money. I doubt brother will meet with anyone for clarification. He got less, is mad, wants more

 
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80 year old mom wants to buy annuities?

06 Mar

I read a little about the woman who was 80 and had lots of money and her broker wanted to sell her annuities. Many people said that was not a good idea.
My mom is 82 and has absolutely no money in the bank. Her income was from a building she was part owner of that was leased as a resturant. The business went belly up and the building was sold. It is in escrow as I type. She will get about half a mil when all is said and done in January.
She is talking to a broker that wants her to put all of it into some kind of annuoity that pays 9 per cent. He is tall and friendly as his qualifications. I have never met him but I just picked up the prospectus package when I last visited.
It is through Jackson National Life and it is a variable annuity.
I will meet with this guy sometime next month but have no facts to counter his proposals.
Someone have some thoughts on this situation?

 
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