Annuity & Insurance Agency
Articles, guides, and reviews about taxes.
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 »
Did you know that the government is planning changes to how taxes are collected? That means there are new things to keep in mind when filing your income tax return. In this guide, we will explore what you need to know about 2022 taxes and provide tips on how to avoid any issues with the …
What is a Grantor Retained Annuity Trust? It is an irrevocable trust that has been established for the sole benefit of the grantor. The grantor maintains ownership and control over assets in this type of trust, but he or she also receives income from them. In addition to providing asset protection, GRATs can help reduce …
If you are considering quitting your job or have been recently fired, it’s essential to know what will happen to your 401k. What happens to your 401k when you quit? What should you do with it? Can I cash out my 401k if I quit? What if I don’t have a 401k account at all? …
What Happens to Your 401k When You Quit Or Fired? (Calculator) Read More »
The decision between choosing pretax or Roth contributions can be difficult. The benefits vary for everyone, but it is important to know the difference before you decide which one to choose. This guide will go over some of the differences and help you come to a better conclusion about what type of account would work …
When you stop working, how much of your 401k is taxed? It’s a question that many people ask themselves when they are planning for retirement. Unfortunately, there are a lot of complexities to how this works, and the answer isn’t always straightforward. This guide will go over how much a 401k is taxed after retirement, …
Do you know which states don’t tax retirement income? If not, then read on to find out! Many states have a law that states that they do not tax any source of retirement income. This includes income from IRAs, 401ks, pensions, and annuities. So it doesn’t matter how much money you make or where in …
States That Don’t Tax Retirement Income: What to Know and How To Plan Read More »
There are several different types available on the market regarding annuities. But what is a qualified annuity, and how does it work? A qualified annuity is a specific annuity that offers tax-deferred growth potential. This means that you don’t have to pay taxes on your earnings until you start making withdrawals. Keep reading for more …
Qualified Annuity: What Is It And How Does It Work? Read More »
Have you retired from the federal government and wondered how to calculate your FERS annuity? How much will it be each month, and when can you start getting payments? This guide will tell you everything that you need to know about your annuity. After reading this guide, there should not be any unanswered questions on …