Ask NJ Money Help

30 May If I sell my co-op after only 6 months, what taxes are owed?

Posted at 05:01h in Ask NJMoneyHelp, Real Estate, Taxes

Not every seller qualifies for the capital gain exclusion....

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27 May I’m active duty military. Do I have to pay the exit tax?

Posted at 05:01h in Ask NJMoneyHelp, Real Estate, Taxes

The exit tax is an estimated tax on the profit when you sell your home. ...

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27 May My mom wants to lower my brother’s inheritance. Do we need a trust?

Posted at 05:01h in Ask NJMoneyHelp, Estate Planning

Whether a trust is necessary depends on a person's goals and wishes. ...

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26 May I’m separated. He took our money to pay his credit card. What now?

Posted at 05:01h in Ask NJMoneyHelp, Credit

Until you file for divorce, your finances are considered part of your marriage. ...

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26 May Do I need car insurance for my kid who doesn’t live at home?

Posted at 05:01h in Ask NJMoneyHelp, Insurance

Without the right insurance, an accident could be incredibly costly. ...

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25 May We have extra 529 plan money. How is it taxed if I take it out?

Posted at 05:01h in Ask NJMoneyHelp, College, Taxes

You may face tax and penalties on some of the funds....

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25 May Who is eligible for Social Security spousal benefits?

Posted at 05:01h in Ask NJMoneyHelp, Retirement

There are several ways to qualify for benefits on your spouse's record. ...

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24 May My inherited IRA is raising my tax bill. What can I do?

Posted at 05:01h in Ask NJMoneyHelp, Taxes

It depends on when and how you started to take distributions....

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