Do You Have to Pay Taxes on Inherited IRAs?
Tax rules on individual retirement accounts (IRAs) are different for inherited IRAs. Some differences are positive.
Can I Avoid Taxes when I Inherit?
Unless you spend your winters in Aspen and your summers in the Hamptons, you probably don’t have to worry about paying federal estate taxes on an inheritance. In 2021, the federal estate tax doesn’t kick in, unless an estate exceeds $11.7 million. The Biden administration has proposed lowering the exemption, but even that proposal wouldn’t affect estates valued at less than about $6 million.
Coronavirus Makes Estate and Tax Planning an Urgent Task
What may have seemed like something to take care of ‘one day,’ has turned into a basic necessity that makes it essential and necessary for you to encourage your clients to act now.
What Should I Know about the Secure Act of 2019 and IRAs?
The Secure Act of 2019 eliminated many of the advantages the so-called stretch IRA offered heirs.
What Does Recent Legislation Mean for the Generation-Skipping Transfer Tax (GSTT) Exemption?
Recent legislation provides unprecedented opportunities to minimize or avoid estate, gift and generation-skipping transfer taxes (GSTT).