(MONEY Magazine) – Q. I'm an investor in a company that's holding its next shareholders' meeting in Hawaii. I'd go in a minute if my travel expenses were tax deductible. Are they? BRIAN GOVE CORPUS CHRISTI

A. Possibly, but don't pack just yet. The Internal Revenue Service deals with situations like this on a case-by-case basis. If you have a function to fulfill at the meeting--you're presenting or opposing a resolution, for example--you're probably eligible for some kind of tax break. However, to deduct air fare, you'd have to fly in and stay just long enough to attend the meeting, then fly home.

If you extend your stay for a vacation, you'd be able to deduct, at best, only your hotel room for the night before the meeting plus any taxis to get back and forth. Attending the meeting simply as an onlooker gets you no deductions at all.

Q. I know that I can add the cost of home improvements to the cost basis of my home when I sell it. But what if my wife and I get estimates from professionals, then do the work ourselves? Can we add the professional value of our labor to the cost basis? BRION KENNELLY HUNTERSVILLE, N.C.

A. No. Even if you were professional contractors, the IRS would not permit you to count the value of your labor in calculating the cost of improvements to your own home. You can, of course, count the value of the materials you use.

Q. I would like to tap the money in a 403(b) retirement account I have with an ex-employer, but I'm not 59 1/2, so I'd be subject to taxes and a penalty. What if I roll over the money to a Roth IRA first, then withdraw the money? I'd owe taxes on the rollover, but there is never a penalty for withdrawing contributions to a Roth, right? CAROL SCOTT ADDRESS WITHHELD

A. You cannot roll over a company plan to a Roth without first rolling it into a regular IRA. However, your scheme still wouldn't work. Your rollover money wouldn't be a Roth contribution. It would be considered a conversion, making the cash subject to an early-withdrawal penalty if you take the money out before five years have passed.

Q. I just received notice that the lender holding the second mortgage on my house has filed for bankruptcy. I'm worried about how this will affect me. Will my credit rating suffer? Will I have to pay off the loan or negotiate a new rate? LORETTA BLANCHARD PORT ALLEN, LA.

A. Do nothing except keep up your payments and make sure you have copies of your original loan agreement. Your mortgage is an asset belonging to the troubled lender. A creditor will either take possession of the loan or sell it. Either way, you will be notified to send your payments to the new owner. The loan terms, however, should not change, and your credit rating is unaffected by the original lender's insolvency. If there are any hassles, though, a copy of the original contract will settle the matter.

Q. Last year, long after I retired from Lockheed Martin, I exercised company stock options that netted me $48,000. To my surprise, my ex-employer deducted Social Security and Medicare taxes, in addition to income taxes. I thought payroll taxes were due only on wages, not investment income. BOB BEERS MOORESTOWN, N.J.

A. Sorry. Your option profits aren't investment income. They are deferred compensation, which is another term for wages.

REPORTER ASSOCIATE: Jan Alexander