Can I deduct the life-insurance premiums that I pay ... taxes, your ex-wife will likely have to declare them as taxable income. Do you have questions about inheritance, tipping, weddings, family feuds, friends or any tricky issues relating to manners and.
Fortunately, you have many options to minimize the taxes on your investment portfolio. Some of them are so simple anyone can do them, while others are more ... more broadly diversified mutual funds rather than a whole bunch of less diversified niche.
You 've just landed your dream client—Janice and Ed Thompson, a wealthy (and entirely fictional) couple, who were referred to you by a mutual acquaintance, the Browns. The Thompsons, both age 65, are getting close to retirement, and their $15 million.
Some financial moves are easily undone. You can sell a stock, for instance, and change your mind and buy it back the following week. But when it comes to individual retirement accounts, which give you tax breaks for saving, there are only limited .
What do you do now? You could spend it on some extravagance, but you would be better off doing two things first: assessing the tax ramifications and thinking about some investment options. "Death taxes " are somewhat misunderstood, as people can find.
LOUIS – When someone has received an inheritance , one of the first questions may be, “ Will I have to pay inheritance taxes ?" First, you need to know ... If you inherit Stocks and Mutual Funds , you will not incur capital gains until you sell them. As.
How to Win at Retirement Savings New York Times.
such as a brokerage firm or mutual fund company. Money from an inherited IRA must be directly transferred from the old account to the new one, so check with the new administrator to find out what steps you need to take to do this. "The new IRA custodian.
If you inherit an investment such as mutual fund shares ... your cost will be the value of the fund shares on the date of death of the person who left you the shares. You do not pay taxes on the gains the previous owner had in the fund while she was.
Q: Will I face a tax bill if I inherit stocks, bonds, or mutual ... benefactor's death, you'll owe capital gains taxes on that difference—at a rate of up to 20%. When it comes to paying capital gains taxes on inherited money, there's not much you can do.
The best way to make sure your pension ends up in the hands you prefer is to use your provider’s Expression of Wish form. This is important because the reason beneficiaries don’t usually pay inheritance tax on money from ... should do with your assets.
THEY CAN USE THE MONEY NOW. Our oldest child, who recently bought a house in suburban San Francisco, paid more for his home than I did for any of mine. And the mortgage that he and his wife have on their charming (read: small) house could choke a .