Dear Dr. Don,
I lost my job at end of March and I have to decide both what to do with my 401(k) and my lump-sum retirement money.
Several years back, we had to decide between two plans for retirement — one was getting the money at 65 (or whenever you retire) and the other was taking a lump sum at the time you leave the company.
Since I had not been there very long, I decided
Dear Tax Talk,
My question is regarding my boyfriend and his ex-wife. They are divorced with two daughters. His ex is a very difficult person to deal with, to say the least. She has taken him to court several times over the last five years. One of those times, she added that they will alternate the girls as tax-exempt on their tax returns. The judge granted this request.
For 2008, he was to claim his youngest (more…)
Dear Tax Talk,
We have a newborn who needs constant home nursing care due to a tracheotomy. We normally would put the child in day care right now, but can’t. Are any of our expenses (nursing care, medical supplies, etc.) deductible in terms of the child care credit? The nurse basically acts as a nanny so my wife and I can work. I know medical expenses have to be beyond 7.5 percent of income to be deducted, (more…)
Dear Dr. Don,
I have four Series EE savings bonds held in my 16-year-old daughter’s name. How do I cash them?
— Patricia Ponders
Dear Patricia,
As the parent of a minor child, you have the ability to cash the bonds for your child.
Here’s what the TreasuryDirect Web page “Redeeming EE/E and I Bonds under Special