Ask a CPA

No. The last E Bonds were issued in 1980 and U.S. Savings bonds have a maturity of 30 years.

Interest that is earned on these savings bonds is taxed to the child, even if the parent paid for the bonds.
The interest earned will be taxable to the child when the bond is redeemed unless an election was made to report the income annually. When the bond is redeemed, the child will receive a 1099-INT form at the end of the year.
This will tell you the amount of interest to report on your child's tax return. If the interest was reported annually over the years, then you will need to separately identify and subtract the previously reported income on Schedule B of the tax return.
Please speak with a local CPA about how to report this and other savings bonds you may not have cashed in yet.

Series "I" bonds are r inflation- indexed bonds that are issued at face value. Interest earned is deferred (not recognized as income) until they are redeemed or mature in 30 years.

Series HH savings bonds are current-income securities. This means that, unlike the EE bond, the HH bond itself doesn’t increase in value. When an HH bond is issued, you pay the face amount for the HH bond and interest is paid each six months, providing you with “current income.”
The interest payments on HH bonds are made by direct deposit to your checking or savings account at a financial institution.

The method of keeping accounts which shows all expenses incurred and income earned for a given period of time, even though such expenses and income may not actually have been paid or received in cash during the same period of time.

Amounts due the company on account from customers who have bought merchandise or received services. Accounts Receivable is a current asset on the Balance Sheet.

Yes. Taxable alimony payments qualify as compensation for purposes of making an IRA contribution. You are subject to the same IRA contribution limitations as one who is working.

Yes. Taxable alimony payments qualify as compensation for purposes of making an IRA contribution. You are subject to the same IRA contribution limitations as one who is working.

No. You cannot make a contribution to a "traditional" IRA in the year you reach 70 1/2. However- you can make a contribution to a Roth IRA. Of course you must have earned income and the same rules that limit Roth IRAs and traditional IRAs apply. For additional details contact a local CPA.

In 2013, the maximum contribution is $5,500 if you are under age 50 and $6,500 if you are older than age 50. However, you are subject to the phase out rules, based upon your income level. Please find the information on phase out rules or contact a local CPA for greater details and how it impacts our situation.
In 2014: The AGI phase-out range for taxpayers making contributions to a Roth IRA is $181,000 to $191,000 for married couples filing jointly, up from $178,000 to $188,000 in 2013.
For singles and heads of household, the income phase-out range is $114,000 to $129,000, up from $112,000 to $127,000.
For a married individual filing a separate return, the phase-out range is not subject to an annual cost-of-living adjustment and remains $0 to $10,000