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Category: Taxes

Are Americans Confused about Taxing the Rich?

August 23, 2016
A new poll reveals that the majority of Americans agree with eliminating the estate tax, which suggests that they want to lower taxes on the wealthy. The same poll also suggests, however, that the majority of Americans want...

What Are Gift Taxes?

December 22, 2014
The season of giving is right around the corner, making this a very apt time to talk about the legal stipulations of giving gifts. Although we don’t want to scare you away from giving generously, it’s important to...

Supreme Court Ruling on Inherited IRAs

October 8, 2014
Just a few months ago, in June 2014, the Supreme Court ruled inherited Individual Retirement Accounts (IRAs) are not protected from the beneficiary’s creditors, because there are key differences between an inherited IRA...

What Is an IRA Trust?

March 6, 2014
In our last post, we talked about the IRD taxes that your beneficiaries will have to pay after they inherit your IRA. These taxes cannot be eliminated, but they can be reduced with the “stretch out” plan we...

How to Reduce Income Taxes

February 14, 2014
When your beneficiary inherits your tax-deferred retirement plan (whether it’s a 401(k), IRA, 403(b), or SEP) after you pass away, they are required to pay taxes on all the money they receive. These taxes, which could...