Can my 11-year-old open an IRA?

• Should I invest in real estate overseas?

  What are the advantages and disadvantages of real estate investments overseas? —DANIEL L., New York City

  Direct investment in foreign property, be it a mall or a second home, is a risky proposition. Sure, you could nab greater gains than in the U.S., should you be smart, knowledgeable, and lucky. But noncitizens can face extra expenses and red tape, and back in the U.S., you're subject to complex investment rules, warns Rapid MORE

  May 11, 2013 6:30 AM ET
  Posted in: Investing, Real Estate, Taxes

• How can I avoid state taxes if I retire overseas?

  If I retire overseas, can I lower my taxes by declaring residency in any state I want? — C. Czuchna, Gainesville, Va.

  Not quite. You can't just declare residency; you have to live there before taking off. Steps to show you've really moved to the no-income-tax state of your dreams (such as Florida, Nevada, or Texas): buying a home (and selling your old one), getting a driver's license, and registering to vote.

  Do MORE

  Apr 27, 2013 6:30 AM ET
  Posted in: Retirement, Taxes

• Can I use 401(k) money tax-free to buy a home?

  Can I take money tax-free from my 401(k) for a down payment on a home? — Dev Ananth, Plano, Texas

  You may be able to pull money out, but you can't avoid taxes. And that's not the only downside.

  Most plans let you borrow half of your savings, or $50,000 (whichever is less); you'll repay that with after-tax dollars — not the untaxed dollars you contributed originally. Leave your job without repaying and MORE

  Apr 13, 2013 6:30 AM ET
  Posted in: Real Estate, Retirement, Taxes

• Must I report interest on a loan to my child?

  I have made a formal loan to my adult child. Do I have to report the interest I receive as income? — J.H., Texas

  Yes, interest you earn on a personal loan is taxable and should be reported to the IRS. The figure goes on line 8a of your 1040; if all your taxable interest income in a year exceeds $1,500, you also have to file Schedule B, which records interest and MORE

  Apr 6, 2013 6:30 AM ET
  Posted in: Family Money, Taxes

• Which contributions come out of my IRA first?

  I put tax-deductible and nondeductible money in my IRA. What comes out first? — Duane Hoffmeyer, Mesa, Ariz.

  Most money in traditional IRAs comprises tax-deductible contributions and any account earnings over the years, all of which is taxable when you pull the money out. You evidently also made nondeductible, after-tax contributions, which exit your IRA tax-free.

  To answer your question, the funds come out simultaneously. Add up your after-tax contributions. The percentage of MORE

  Mar 31, 2013 3:17 PM ET
  Posted in: Retirement, Taxes

• Can I cut property taxes by reducing my home's usable space?

  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, MORE

  Dec 28, 2012 6:30 AM ET
  Posted in: Real Estate, Taxes

• Will I owe tax if I buy my sister a house?

  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 MORE

  Dec 27, 2012 6:30 AM ET
  Posted in: Real Estate, Taxes

• What taxes do you owe on a $13,000 gift?

  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 MORE

  Dec 25, 2012 6:30 AM ET
  Posted in: Family Money, Taxes

• Will I owe taxes on gold and silver coins?

  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 MORE

  Dec 24, 2012 6:30 AM ET
  Posted in: Investing, Taxes