Are there taxes on ira beneficiary funds?

Answer IRA's are not exempt from estate taxes, therefore if you own an IRA and it passes to someone other than your spouse, it will be part of your taxable estate. Many people falsely believe that, on the... Read More »

Top Q&A For: Are there taxes on ira beneficiary funds

Will I Have to Pay Taxes on Receiving Funds as a Beneficiary from an Annuity?

Annuities are insurance products that provide guaranteed income to you for your entire life or for a set period of time. This income can be guaranteed by the insurer because the insurance company t... Read More »

How to Pay Beneficiary Taxes on Life Insurance Benefits?

One of the significant reasons people buy life insurance policies is that the death benefit is not added to the taxable estate. This means that life insurance can be used to pay off a mortgage, fun... Read More »

Is it possible to take funds from an IRA without paying taxes?

If you have a tax-deferred IRA account, such as a traditional IRA, all withdrawals from the account will be taxable. If you have a Roth IRA account, you can take tax-free withdrawals when you are a... Read More »

How to Pay Taxes on Mutual Funds?

When you invest your money into mutual funds, you are taxed based on the amount of income you earn on those particular mutual funds. At the end of every calendar year, your investment company or fi... Read More »