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What else can I help you with?
Is the annuIty received from an insurance co is taxable?
It grows tax deferred. If you take an income stream or annuitize the annuity, the money is taxed as ordinary income.
Are health insurance benefits taxable under Obamacare?
Health insurance benefits are not taxable under Obamacare.
Should annuity be wrap into a IRA or Roth IRA?
An annuity certainly can be purchased in an IRA, but one of the benefits of an annuity is tax deferral which you already have with an IRA. So as long as you understand that there are no additional tax benefits when placing an annuity in an IRA it may be an appropriate investment.
What is a deferred annuity?
An annuity that will not begin until some time period in the future.A deferred annuity is an annuity in which the taxes due on any taxable portion is deferred until you start to withdraw from the annuity. It is a way of compounding interest on the money you would normally paid taxes on if not in a ta deferred annuity. In a way it is like using the government's money to make you money.
Are optional life benefits taxable?
They will be taxable at the same rate as the other benefits, unless invested in a tax free vehicle, which will be stated.
Are annuity survivor benefits taxable to annuitant's spouse?
Yes, annuity survivor benefits are generally taxable to the annuitant's spouse as income when received. The taxable amount will depend on factors such as the type of annuity, how the annuity was funded, and any contributions made with pre-tax dollars. It is advisable to consult with a tax professional for specific guidance.
Are survivor annuity taxable?
Yes, you need to speak with your agent or broker and or your tax accountant tregarding this issue.
What is more expensive joint life annuity or joint life survivor annuity?
What is the joint and survivor settlemet option
Does Joint-and-survivor annuity pays its installments until the death of the designated survivor?
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What method is used to determine taxable portion of each annuity payment?
The taxable portion of each annuity payment is typically determined using the "exclusion ratio." This ratio is calculated by dividing the investment in the annuity (the amount paid in) by the expected total return (the total amount expected to be received from the annuity). The result is the percentage of each payment that is considered a return of the investment and is thus not taxable. The remainder of the payment is taxable as ordinary income.
What is better a full survivor annuity or a single annuity?
It depends on what you are wanting to accomplish. If you want to make sure both parties receive an income even after the death of one of the parties then the survivor annuity is your option. If you are not worried about future payments after the death of the fist party then utilize the single annuity.
Your husband has an annuity with a joint survivorship what does this mean?
That means that if your husband predeceases you then the annuity payments would go to you as the survivor.
Are US life insurance policies taxable?
As a general rule, life insurance policies in the US are not taxable. However it is taxable if it is combined with a non-refund life annuity.
Are social security earnings taxable in California?
No, California is not one of the fourteen states that levy taxes against Social Security benefits.
Is series of annuity receipts treated as interest income?
Are you saying you are receiving payments from an annuity? Yes and no. It depends on how you are taking the money out. If you are taking interest only payments than 100% is taxable. If you are taking a combo than a portion is taxable.
How good is allianz variable annuity?
The Allianz variable annuity is good for anyone wanting to prepare for their future or protect their retirement. A Allianz annuity is great for market growth and deffered taxable income.
In joint life annuity one person dies does survivor get lump sum?
No, not unless the survivor asked to surrender the policy. If the survivor wants a lump sum, it is available.
