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Gift Tax Return

What are the Taxes on My IRA Withdrawal?

How much you will pay in taxes on an individual retirement account (IRA) withdrawal, depends on the type of IRA, your age and the purpose of the withdrawal. Sometimes the answer is zero—you owe no taxes. In other cases, you owe income tax on the money you withdraw and sometimes an additional penalty if you withdraw funds before age 59½. On the other hand, after a certain age, you may be required to withdraw money and pay taxes on it.

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Family Business Succession

Business Succession Planning in my Estate Plan?

Running and owning a business is just like raising a child: Both are investments in the future, and both require a lot of time, resources and effort to raise successfully. One can argue that you would treat your business like you’d treat a child; you’d want it to succeed even after you’ve passed on or retired.

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Splitting an IRA

Tips for 401(k) Savings in 2020

A 401(k) is an employer-sponsored account that allows you to defer the taxes on your investments until retirement, which meanw that you can roll up more money faster.

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