Practice Finance

I'm the executor of my brother's considerable estate, and I'm entitled to a commission for handling the job. If I accept payment, will that money be subject to income tax? What about the money he left me as an inheritance?

I want to help my son buy a home, and I've heard that I can get tax benefits by doing it through something called a shared-equity financing agreement rather than just giving him cash. How would that work?

The alternative minimum tax makes mincemeat of your deductions-and it's nabbing more and more professionals.

Check out these money-saving ways to report income, deductions, and credits on your 2007 return.

Beginning this year, if you inherit an IRA or qualified plan from someone other than your spouse you'll be allowed to roll those monies into an IRA in your own name.

Did you lend your brother a few grand last year-or a few years ago-with the promise that he'll pay you back? Are you assuming you can kiss that money goodbye? Well, don't despair. You may still be able to write off the loan on your tax return.

My father and I are in practice together, but soon I'll relocate and start a solo practice. I'd like to buy some of the equipment I'll need from Dad, but a friend ran into a tax hitch when he did the same thing with his brother a few years ago. He doesn't remember the details. What's the potential problem?

I bought some shares of stock for $1,000 in 1990, and now they're worth about $30,000. If I give them to my son, will this be considered a gift of $29,000 or $1,000? And on which amount will he owe capital gains tax?

I placed an online order for 100 shares of a stock at $27 per share, but by the time the brokerage filled it, the stock's price had climbed to $35 per share. Do the rules limit the amount of time a brokerage can take to complete a stock transaction? If not, how can I keep this from happening again?

While springtime is when many of us clean up our house, January is the perfect time to spruce up our portfolios. Besides pruning the losers and trimming back winners, be sure that you're diversified among stocks, bonds, and cash, in an allocation suitable to your age and needs.

We want to consult a financial planner for advice on how to allocate our investment portfolio, so we're making a list of our assets. Should we include the market value of our vacation home? What about the jewelry my wife just inherited from her grandmother?

Heavy flooding in my town recently caused a backup of sewage into a neighbor's house. Does homeowners insurance cover that sort of damage?

I want to put my home, which I own free and clear, in my adult son's name. That way it will be out of my estate and he'll get it directly when I die. Are there any other tax consequences I should know about?

A quick review of the genesis of this financial crisis will help explain how you can avoid the growing snowball.

Investment returns and expenses have always been important considerations in deciding on a mutual fund. Now, add Morningstar's "Stewardship Grades" to the mix.

Don't let these chances for big savings slip through your fingers.

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It can take plenty of time, money, and hard work-and a strong stomach-to profit from others' misfortune.

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These tax-free bonds can return steady income with little risk, if you know what you're doing.

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The wrong loan can burden you for years. Don't contact a lender until you read this guide.

One couple's smart financial decisions will let them kick back early in life. Their strategy might work for you, too.

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Choosing the wrong ones can drive up your borrowing costs. Here's what to watch out for.

Give your family specific instructions to help them deal with your personal and financial matters after you're gone.

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If managing your finances is still an uphill climb, read our tips-before it's too late.

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