Annuity & Insurance Agency
Articles, guides, and reviews about taxes.
Many things in the United States are taxed. This is because governments love to get their hands on our money, whether it’s income tax, sales tax, or some other type of tax. In this guide, we will look at some of the most common types of taxes that people have to pay. We will also …
When it comes to life insurance, there is a lot of confusion about what is and is not a tax deduction. In this guide, we will clear up the confusion and answer the question: is life insurance a tax deduction? We will go over what is allowed as a tax deduction for life insurance premiums …
Tax Deductibility of Life Insurance: Everything You Need to Know Read More »
An annuity exclusion ratio is the percentage of an annuity’s payments that are not taxable. This may seem like a confusing concept, but it is actually quite simple to understand. In this guide, we will discuss what an annuity exclusion ratio is and how to use it in order to minimize your tax liability. What …
A life insurance policy is a valuable asset to have when planning for retirement. Contrary to popular belief, a life insurance policy can be used for more than just providing financial security for your loved ones in the event of your death. In fact, there are several ways that a life insurance policy can help …
How a Life Insurance Can Help You with Retirement Planning Read More »
The traditional individual retirement annuity distribution is one of the most common ways for people to receive payments from their 401k or IRA. This guide will discuss what you need to know before starting distributions, how often these payments are made, and more. Traditional individual retirement annuity distributions Must start by Traditional individual retirement annuity …
Starting Your Traditional Individual Retirement Annuity Distributions Read More »
The Pension Protection Act of 2006 was created to help protect pensions in the United States. This act is also responsible for creating new rules and regulations for long-term care insurance. Let’s take a closer look at what this means for you. What is the Pension Protection Act? The Pension Protection Act, often known as …
Pension Protection Act and Long-Term Care: What You Need to Know Read More »
If you’re saving for retirement, it’s time to start thinking about your options for a qualified retirement plan. Many different plans are available, and deciding which is the best for you can be challenging. This guide will discuss the types of retirement plans and help you decide which is right for you. We’ll also provide …
Qualified Retirement Plans: Everything You Need to Know Read More »
All monthly payments are taxed as ordinary income. If the annuity is a qualified plan, all of the monthly income payments will be subject to taxes. Only the interest will be taxed if the annuity is a non-qualified plan. If the annuity is a Roth IRA, payments will be tax-free. Taxes On Monthly Life Annuity …
How Are Monthly Life Annuity Benefit Payments Treated? Read More »
Annuities can be a great way to put money away into an IRA for retirement, but there are many different types of annuities. This guide will provide the different types of qualified IRA annuities to that an owner can contribute money to. Types of Annuities That Allow Contributions To An IRA Compare Annuities That Allows …
When saving for retirement, most people consider contributing to a 401k or IRA. However, other options are also available, and one of the most tax-friendly is annuities. In addition, annuities offer several benefits that make them an attractive option for retirement savings. This guide will discuss how annuities are given favorable tax treatment and why …
How Are Annuities Given Favorable Tax Treatment? Read More »