How are non-qualified variable annuities taxed?

June 30, 2024 No Comments

A: Non-qualified variable annuities are tax-deferred investment vehicles with a unique tax structure. These investments grow without incurring taxes until the time funds are taken out of the account, whether by client withdrawals or annuitization. Beneficiaries of a non-qualified annuity may also face certain tax

How are non-qualified variable annuities taxed?

July 7, 2024 No Comments

How are Simplified Employee Pension (SEP) IRAs taxed?

June 30, 2024 No Comments

A: Simplified employee pension individual retirement accounts are tax-deferred retirement savings plans designed to allow business owners a simpler method of contributing to employee accounts. In essence, a SEP IRA is a collection of traditional IRAs organized under one broad employer plan that allows for

How are Simplified Employee Pension (SEP) IRAs taxed?

July 7, 2024 No Comments

How are Social Security benefits affected by your income?

June 30, 2024 No Comments

A: Social Security retirement benefits may be affected by a variety of factors, but your earned income is one of the most important. Your benefits in retirement are partly dependent on the income you received while working, since Social Security taxes vary based on that

How are Social Security benefits affected by your income?

July 7, 2024 No Comments

How are spousal benefits calculated for Social Security?

June 30, 2024 No Comments

A: The amount of your Social Security spousal benefit depends on a number of factors, including your age, the maximum amount of your spouse’s benefit and whether other benefits are available to you. The maximum amount you can claim is 50% of your spouse’s full

How are spousal benefits calculated for Social Security?

July 7, 2024 No Comments

How are you taxed after selling a mutual fund in a Roth IRA?

June 30, 2024 No Comments

A: Once money is invested into an individual retirement account (IRA) or a Roth IRA, there are no tax consequences for trading securities within the account as long as the money remains in the same account. With Roth IRAs specifically, contributions are taxed at the

How are you taxed after selling a mutual fund in a Roth IRA?

July 7, 2024 No Comments

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