Retirement and Taxes

Why do We Need Life Insurance Trusts?

By creating a life insurance trust, you can save your heirs some estate taxes after you have passed on. But by creating the trust, the policy is no longer considered part of your estate. Hence, no estate taxes apply to it after your death.

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Self-Employment Retirement Plans

The object of this article is to familiarize you with the basic types of retirement plans available to those whom are self-employed. What is the difference between a simplified employee pension plan and the money purchase arrangement, profit sharing and benefit defined Keogh plans you ask? Find the answer here...more

New Special Rules For Senior Citizens

Single senior citizens can claim an additional $1,050 on their 1999 tax return. Those that are married or qualified widow(ers) can claim an additional $850. Take a look at how and why...more

Lump Sum Pensions 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 taxes...more

A Temporary Tax 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 to take advantage of this haven and save yourself some hard earned retirement dollars when it comes to taxes.

Why Roth IRAs are better?

It does seem that the truth is if you do qualify for one, a Roth is probably in your best interest as opposed to the traditional IRAs, both the nondeductible and tax-deductible sorts. What sets the Roth IRA apart from the others you ask??

Setting Up a Trust for Your Heirs

A common reason for setting up an estate plan is to save money on tax liability when the estate is passed on to its recipients. Find out more on the subject here!

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?

Advantages of Personal Residence Trusts

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

Death and IRAs

How do you want to set up your IRA? Do you want to leave it to your spouse upon your passing? Or maybe your 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 you.