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A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
June 22, 2009 at 08:00 PM
The question was: How large a tax exclusion would the proposed Retirement Security Needs Lifetime Pay Act (H.R. 2748) provide on the income from a non-qualified lifetime annuity?
a) 25% tax exclusion, up to $15,000 per year
b) 45% tax exclusion, up to $20,000 per year
c) 50% tax exclusion, up to $10,000 per year
d) 35% tax exclusion, up to $5,000 per year
e) 10% tax exclusion, up to $12,500 per year
The answer is: c). If enacted, H.R. 2748 would provide for a 50% tax exclusion on income from NQ lifetime annuities, up to $10,000 per year. The House Bill also would provide a 25% tax exemption on income from annuities sold with the guarantee provisions if the annuities were held in individual retirement accounts or in qualified retirement plans other than defined benefit plans. The bill would exclude the value of longevity insurance from amounts subject to required minimum distributions while changing the rules governing taxation of payments from partially annuitized deferred annuity contracts.
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