Retirement and Taxes

Lump Sum Pension Payouts

There are two options available to retirees who received their lump sum pension payouts from their company. There is a ten-year averaging method and then there is the five-year averaging formula. See how these methods may affect your clientÕs taxes.

Featured Articles

Tax Saving Strategies for Withdrawals from an IRA

It is hard enough for many taxpayers to be making financial decisions towards the end of their life that will affect their family for the next few decades after they are gone, but to make them in such a way that the IRS doesn’t make off with most of their money in this world is truly the challenge. We have some suggestions for your clients...more

A Temporary Haven for Retirement Investors

There is a temporary tax haven that is available when it comes to withdrawing funds from an IRA or other form of retirement account. Learn how your clients can take advantage of this haven and save themselves some hard-earned retirement dollars when it comes to taxes...more

New Special Rules For Senior Citizens

Special rules do apply to your clients should they be senior citizens. Single, married and widowed senior citizens can claim an additional deductions on their tax return. Take a look at how and why...more

Death and IRAs

How does your client want to set up their IRA? Do they want to leave it to their spouse upon their passing? Or maybe their children? How about a combination of both? Learn about the fixed life expectancy, recalculated and charitable remainder trust methods and which may be best for your client.
Advantages of Personal Residence Trusts

A qualified personal residence trust is effective when your client does not want their home or vacation home considered part of their estate. This helps them to depreciate the value of their estate, therefore helping to lessen the estate taxes their heirs will be hit with. But is this right for them?

Setting Up a Trust for Your Heirs

A common reason for setting up an estate plan for your client is to help them save money on tax liability when the estate is passed on their heirs. Find out more on the subject here!

Why do We Need Life Insurance Trusts?

By creating a life insurance trust, your clients can save their heirs some estate taxes after they have passed on. But by creating the trust, the policy is no longer considered part of your client’s estate. Hence, no estate taxes apply to it after their death. See how your clients can help assure their children wind up with all they intended to leave them.

How to Stretch an IRA?

An IRA can be stretched out over the lifetime of several beneficiaries, therefore helping out the IRA owner?s spouse as well as the children and the grandchildren. How does this ?stretch? IRA work?