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0% estate taxes in 2010 … for now, anyway. On January 1, the federal estate tax went away – at least for the time being and perhaps for all of 2010 as envisioned back in 2001. President Obama and Congressional leaders wanted the estate tax to stick around in 2010 at 2009 levels (estate taxes up to 45% with a $3.5 million exemption), but lawmakers were preoccupied with other matters.1,2
Tags: 1 Million, 5 Million, American Institute Of Certified Public Accountants, As American Institute, Bypass trust, Capital Gains, Certified Public Accountants, Congress, Congressional Leaders, Estate Planners, Estate tax in the United States, Federal Estate Tax, federal government, Finance, Gift tax in the United States, Gift Taxes, Good Question, Inheritance, Institute Of Certified Public Accountants, January 1, Law, Lawmakers, Obama, Obama administration, Pete Mitchell, Political economy, Suspense, Tax, Tax haven, Taxation, Taxation in the United States, Tom Ochsenschlager, vice-president for taxation, Washington,United States, Wealthy Families
While you might be able to borrow from a 401(k), that doesn’t mean you should. Yes, we are in a recession. Yes, times are tough. But borrowing from your 401(k) could prove highly detrimental to your financial health.
Tags: 401, 401 K Contributions, 401 K Plans, Account Balance, bank account, Borrowing From Your 401k, Consequence, Distribution Subject, Economics, Financial Health, Guess, Human development, Individual Retirement Account, Interest, Internal Revenue Code, Last Resort, Match, Paychecks, Personal finance, Pete Mitchell, Recession, Retirement, Retirement Account, Retirement Savings, State Income Taxes, Taxable Distribution, Taxation in the United States, Time Period, Time Value Of Money, Value Of Money
Here’s a simple financial question: who is the beneficiary of your IRA? How about your 401(k), life insurance policy, or annuity?
Tags: Annuity, Assets, Beneficiary, Beneficiary Designation, Beneficiary Designations, Bequests, Choices, custodian, Eighties, Estate, Estate tax in the United States, Financial Question, Inheritance, Insurance, insurance policies, IRA, Life insurance, life insurance policy, Living Trust, Paper Shuffle, Pete Mitchell, Priorities, Priority, Probate, Real property law, Retirement Plans, Taxation in the United States, Time Has A Way, Trust law
