Comments for Kelly Phillips Erb

Comment on About by Dave

Dave — Sun, 27 Jan 2013 02:08:39 +0000

Thanks for the reply. This may be too specific of a problem, but nobody seems to know the answer!

If a person has a limited partnership in their 401/457/IRA/ROTH. and the dividends are TAX EXEMPT at the federal level (an example of this is ticker ATAX), how does one pull out the dividends from the 401/457/IRA/ROTH without getting taxed as ordinary income? These ‘dividends’ are reported on a K-1 form, and again, in this case are tax exempt at the federal level.

Or is a person just stuck with paying the going income tax rate on the non-taxable ‘dividends’.

Have asked a lot of CPA’s this question, as well as the IRS – haven’t got a good answer yet.

Thanks

Comment on About by Kelly Phillips Erb

Kelly Phillips Erb — Sun, 27 Jan 2013 01:43:42 +0000

Maryann, I don’t konw. That’s not always the case.

Comment on About by Kelly Phillips Erb

Kelly Phillips Erb — Sun, 27 Jan 2013 01:43:19 +0000

Hmm. Takehome pay shouldn’t have been affected if you weren’t affected by the payroll tax cuts.

Comment on About by Kelly Phillips Erb

Kelly Phillips Erb — Sun, 27 Jan 2013 01:42:36 +0000

Yup, Dave. Send it on! Try here for info: http://www.forbes.com/sites/kellyphillipserb/2012/01/11/9-things-to-keep-in-mind-before-you-ask-the-taxgirl/

Comment on About by Dave

Dave — Fri, 25 Jan 2013 20:44:18 +0000

Hi Kelly,

Do you still answer really odd tax questions for posters? Got one that my CPA can’t answer, and even the IRS is stumped!!

Comment on About by Maryann McAndrews

Maryann McAndrews — Thu, 10 Jan 2013 21:08:56 +0000

Did the owners of Nifty Fifties, because they pleaded guilty to tax fraud and paid the IRS back plus interest, get no jailtime? Just wondering? Thanks!

Comment on About by terry

terry — Mon, 31 Dec 2012 17:21:09 +0000

Re: payroll tax cut expiring- Strange question… being someone that doesn’t pay into social security (will receive a city pension) , will I see a increase in my take home pay? I seem to remember my take home pay went down after the cut was put in place few yrs ago. Thx!

Comment on About by Kelly Phillips Erb

Kelly Phillips Erb — Mon, 26 Nov 2012 22:22:17 +0000

Thank you!

Comment on About by David L. Nelson

David L. Nelson — Wed, 07 Nov 2012 05:07:54 +0000

Hi Kelly, I enjoyed your work and presence during the play by play of the election this evening. I like the cut of your jib… as they say.

Regards,

David aka Orbman