- Retirement Accounts
95% Tax on Inherited IRAs and How to Avoid it
Date & Time
- May 8th @ 12:00 PM (PST)
Description
- If you are leaving an IRA to a loved one or inheriting an IRA, you need to pay attention to the potential pitfalls (TAXES) you may face. This webinar explains the interplay of Federal Estate Tax, the10-Year Rule under the SECURE Act 2.0, which requires you to mandate withdrawal from an inherited IRA within ten years with limited exceptions. This rule can lead to HUGE negative tax implications because taking out large sums quickly might push you into a higher tax bracket, which means more income taxes – as well as death taxes. We will explore strategies to manage these tax burdens and avoid mistakes that could reduce your inheritance. Join attorney Jim Cunningham to learn how to protect your financial future!