Page 3 - Michael Maye News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Commencement ceremonies to be held at Bobby Dodd Stadium on Friday and Saturday

Will student loans be forgiven? Should we keep paying? Today 9:30 PM Q. My son is currently paying down his subsidized and unsubsidized federal student loans with monthly payments, trying his best to get the loan paid off. Realizing the government deferred student loan payments under the stimulus package, should he discontinue monthly payments until we hear if the federal government would indeed move forward with loan forgiveness? And if he ultimately does pay off the balance completely, would the government reimburse those who paid during the period the stimulus package was put in place? �...

Am I entitled to my husband’s pension while he’s alive? Today 9:30 PM Q. My husband and I live in New Jersey. My husband retired in 1996 from his job in New Jersey and has been collecting his pension since then to the present time. I was told that I would be entitled to 50% of his pension upon his death. Am I entitled to receive my portion of his pension while he is alive or only upon his death? — Pensioner, soon maybe A. Pensions often offer several payout options. For married couples, it’s common for a worker to take a reduced pension payment to ensure a surviving spouse will conti...

Do I owe taxes on condo sale after my husband died? Today 9:30 PM Q. I just sold my condo with a sizable profit. My husband and I co-owned. He passed away two years ago. Do I owe just my 50% of capital gains or do I owe 100% of capital gains? I do not want to invest in another rental property. — Widow You said you don’t want to invest in another rental property. So it’s important to clarify whether the condo was personal property or business property. Personal property would be a primary residence where you lived or a vacation home that was not a rental property, said Michael Maye, a c...

Will N.J. tax me on older IRA withdrawals? Updated 5:30 AM; Q. We have been retired for 10 years now and are considering a move to New Jersey. Is it true that New Jersey taxes all prior IRA withdrawals when you move to the state from another state? We’re considering the move but if we have to pay a cumulative tax on prior withdrawals made while living in another state, it’s a deal buster. — Thinking about it A. Here’s what you need to know. First, New Jersey does not go back and tax income you took in the form of IRA distributions prior to becoming a New Jersey resident.