Today TaxMama hears from Tom in the Tax Quips Forum, who has gotten bad advice. “I started investing in an online program that is registered in the British Virgin Islands. They say that this program is exempt from the US Securities Act of 1933, the US Securities Exchange Act of 1934 and the US Investment Company […]
Tag Archives: FDIC
Today TaxMama hears from Helen in Texas with this concern. “Can I take my 401(k) investment money out of bank investments and put into a credit union without paying taxes? If so how do I go about doing this? Besides, aren’t credit unions safer? “ Dear Helen, Your first question is easy. If your 401(k) […]
Today TaxMama hears from Mabel in Georgia with this tale of woe. “After 25 years of marriage I will receive $80,000 from my ex’s retirement account via a QDRO. With the economy like it is, I need to know the safest place to put this money. Also, is there an alternative that would make any […]
Today TaxMama hears from Bud in Tennessee who tells us: “My wife had a CD in an online bank that exceeded the FDIC guaranteed amount. The Internet bank went into receivership and my wife lost the amount that exceeded the FDIC limit. What are the tax implications as far as the loss and what schedules […]