Practice Finance

I've always assumed that the $20,000 I have in a money market mutual fund can't drop in value, but lately I've heard talk that some funds are exposed to the subprime lending mess. Should I worry?

I want to transfer IRA funds into a new IRA at another firm that offers more investment options. Does it matter that I'm only 54 and already withdrawing some money from the account?

I'm starting my first job and would like to begin contributing to the practice's 401(k) right away, but I'm afraid I'll run short of cash to pay living expenses and medical school debt.

I'm new to investing and have been told that it's important to look for mutual funds with low expense ratios. Does that measure factor in all a fund's expenses?

My house isn't in a high-risk flood zone, but lately we've been getting some water in the basement during heavy storms due to construction in the area. Since we'd like to refinish the room with new carpeting and wallpaper, I'm tempted to buy flood insurance. Would it be worthwhile?

I'd like to change some of the beneficiaries of my revocable trust, add some real estate to it, and adjust the way the assets will be distributed. Do I have to revoke the trust and draft a new one?

The expenses for our son's junior year in college exceeded the amount left in his 529 plan, so he took out a $10,000 student loan. Then my father gifted $11,000 to the plan. Can our son use that money to pay off the loan?

I invested $10,000 in three stocks about a year ago. Is there an easy way to figure my return so far without investment tracking software?

bought $10,000 worth of Series EE savings bonds several years ago and registered them jointly in my name and my son's. Now I'd like to give him full ownership. Can I do this by delivering the paper bonds to him and telling him that he's now the sole owner?

In January, I gave a local art school a $10,000 painting that I'd owned for five years. The school plans to display it so students can use it for reference, and I expected to deduct the painting's full market value on my tax return this year. But an art dealer I know says I may not be able to if the school sells the painting. Is he right?

I own shares in a company that recently filed for bankruptcy. Assuming the shares were worthless, I claimed a loss for them on my 2007 tax return. Now I've learned that the company is still doing business and its shares may have some minimal value. What should I do now?

Protecting your family needn't be complicated or costly-if you know what to look for and what to avoid.

If you love to impress your friends with a good bottle of cabernet sauvignon, you might like it as an investment, too.

The road to a comfortable retirement is bumpy enough without any of these setbacks getting in the way.

If you use your debit card a lot and you often bank online, take a closer look at a new product called "reward checking accounts."

Randy Newsom, a minor league pitcher in the Cleveland Indians' system, is selling shares of his himself at $20 apiece.

You've got some extra cash each month that you can't decide how to invest. Should you put it in the stock market, or use it to pay down your mortgage?

The IRS warns of a rash of e-mail and telephone scams whose aim is to latch onto a taxpayer's personal and financial data.

In a slumping housing market, some people who've been unable to sell their home have made the bold move of trading it for someone else's.

Only 22 percent of respondents to a new survey of affluent households thought $1 million is enough to be considered rich.

I've set up an irrevocable trust at my bank and the assets will go to my two children after I die. But I'm worried that once I'm gone, the trust may become less effective if estate and tax laws change or the bank trustee does a lousy job. How can I prevent those possibilities?

Someone ripped a blank check out of my checkbook and wrote a $500 check against my account before I realized it. Will FDIC insurance cover my loss?

I've noticed that a stock can have different price-earnings ratios depending on which sources I consult. Why is that?

My wife was advised to set up a Simplified Employee Pension (SEP-IRA) so she could set aside more annually than a traditional IRA would allow. Now she's earning only half as much and wants to switch to a regular IRA. How can she terminate the SEP?

The unscientific "Super Bowl Predictor" says that the market rises in years when an "original" NFL team wins the big game and drops in years when a team from the old AFL is victorious.

Water leaked through the windows in my finished basement, damaging the wallpaper, wallboard, and carpeting. Since my homeowners policy won't cover this, can I claim it as a casualty loss on my tax return?

Much as you love your kids, saving for college rather than retirement could be a big mistake.

Don't hang on to assets that turn sour.

Tips to reduce the tax-time clutter

Years ago I inherited land that I'll never use. Now I'm trying to figure the most sensible way to get rid of it. If I sell it, I'll have a hefty capital gain. How can I ease the tax pain?