The SECURE Act significantly changed how IRAs inherited by someone other than your spouse are treated. The end result is the tax burden could be considerably higher than under the old law. While not perfect, you can get close to similar results as under the old law by naming a CRUT as the beneficiary of your IRA.
A lot of retired Senior Military Officers and NCOs decide to start a business when they retire. Wouldn't it be great if all your business growth could go on inside an IRA? Maybe it can.
The President's budget proposal contained two provisions that are quite different. One could apply retroactively and the other will require taxes to be paid before income is actually earned.
After retiring from the military, Senior Military Officers or NCOs may find themselves with assets deposited in foreign accounts. This could occur if you move overseas or if you work for a foreign company. That means FATCA could apply. What's FATCA, and who does it impact? Here's what you need to know.
If you get a VA loan, under many instances you will pay a funding fee. Under some circumstances that funding fee is tax deductible. What happens if you get the funding fee back?
Active and Retired Senior Military Officers and NCOs are often charitably inclined. A donor-advised fund can help you maximize your charitable deductions for the year. But did you know it also comes with additional tax benefits? Read on to learn more.
Disclaimer
Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by C.L. Sheldon & Company, LLC ), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. C.L. Sheldon & Company, LLC does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to C.L. Sheldon & Company, LLC website or incorporated herein, and C.L. Sheldon & Company, LLC takes no responsibility therefore. All such information is provided solely for convenience, educational, and informational purposes only and all users thereof should be guided accordingly. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from C.L. Sheldon & Company, LLC . To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. C.L. Sheldon & Company, LLC is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the C.L. Sheldon & Company, LLC ’s current written disclosure statement discussing our advisory services and fees is available for review upon request. DISCLAIMER OF TAX ADVICE: Any discussion contained herein cannot be considered to be tax advice. Actual tax advice would require a detailed and careful analysis of the facts and applicable law, which we expect would be time consuming and costly. We have not made and have not been asked to make that type of analysis in connection with any advice given in this blog post. As a result, we are required to advise you that any Federal tax advice rendered in this blog is not intended or written to be used and cannot be used for the purpose of avoiding penalties that may be imposed by the IRS. In the event you would like us to perform the type of analysis that is necessary for us to provide an opinion, that does not require the above disclaimer, as always, please feel free to contact us.