Q: I use my credit card for purchases so I can build credit. Is it better to pay off the balance each month, or make the minimum payment? — J.D., Orlando
A: Just paying the minimum will never allow you to catch up with the interest. Paying it off in full each month is beenficial to your credit score. It helps you build credit history without rackign up tons of interest, and it shows your creditors that you are responsible. — Rhonda Shurtleff
Q: If I take an IRA withdrawal in April 2017 after turning 70-1/2 this year, in which year will resulting taxes be paid? — J.T., Orlando
A: The taxes will be calculated for 2017, the year of the distribution. Any tax liability for 2017 will be due by April 15, 2018. Keep in mind, if you turn 70-1/2 in 2016 and choose to delay taking your required minimum distribution until April 2017, you will also need to take your RMD for 2017 by Dec. 31, 2017, in essence taking two RMDs in the same year — this may result in higher taxable income than you anticipated. — Derrick Chandler
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E-mail firstname.lastname@example.org. Include your name (only your initials will be printed), hometown and phone. Questions are answered by Certified Financial Planners from the Central Florida chapter of the Financial Planning Association. Answers are for educational purposes only; you should also consult a financial professional. Questions and answers may be edited for space considerations.