I own a home in Connecticut. I'm currently paying taxes on rooms that I don't use or need. For instance, I finished a bonus room over my garage and fifth bedroom in my attic with heat and sheetrock. Can I "unconvert" these unnecessary rooms to lower my property taxes? – Debra L.
Yes, you can — but it may not make sense to do so. As Newton Buckner, partner at Hartford, MOREDec 28, 2012 6:30 AM ET
I want to pay cash to buy my sister a $110,000 house where she can live in retirement. Should I title it in her name, my name, or both her name and mine? What are gift tax or other tax consequences? We are both in Ohio. — Frank M.
Ultimately the decision of whether or not you give a house to your sister is a personal one. But Gerald Townsend, a MOREDec 27, 2012 6:30 AM ET
My husband was downsized a year ago. He is eligible to start taking a pension from his former company, but they refuse to give him any information with regard to projections. How do we decide when to start his pension if they won't tell him the difference in payout for year 62, 65, etc.? — M. Anderson
If you haven't done so already, refer to the section in your husband's summary MOREDec 26, 2012 6:30 AM ET
If I give someone a gift over $13,000, what taxes will each of us owe? — Margaret G., Raleigh, N.C.
Good news about the oft-puzzling gift tax: Whatever the size of your gift, the recipient neither owes tax nor needs to report it. You, the giver, have to file Form 709 for a gift over the IRS' annual per-recipient limit ($13,000 in 2012 and rising to $14,000 next year). But you won't MOREDec 25, 2012 6:30 AM ET
Do you pay a tax on silver or gold coins when purchased or sold? What are some of the advantages and disadvantages of gold and silver coins as an investment? —Vernon
When you buy coins, you may owe sales tax, depending on which state you buy in. But selling triggers a very different tax, says Rob Chapman, founder of Rochester, N.Y.-based advisory firm Compass Wealth. Because the IRS considers precious metals MOREDec 24, 2012 6:30 AM ET
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