In case you haven’t heard, the IRS recently changed its mind on how money inside a 401(k) plan is taxed when you change jobs or retire. This is great news, watch now to find out why.
Is this really a good way to pay the tax bill on your IRA money?
Recently a client asked us if buying a life insurance policy to pay the tax bill on their IRAs was a good idea. Here’s what we told them…
A little known tax benefit for surviving spouses
You probably already know that when someone passes away, their heirs get a stepped-up cost basis on the taxable investments they inherit, like stocks and real estate. But what happens to assets that both spouses own jointly with a right of survivorship, when one spouse passes away? Not knowing this could cause you to over pay on your taxes.
New tax law could cost IRA owners thousands
In this edition:
A tax attorney ran into trouble with the IRS because of the way he chose to take money out of his IRA accounts. Don’t let this happen to you!