Monday, November 24, 2008
Tax Deferred Fixed Annuities www.legacyannuities.com
BUT THERE IS ANOTHER POTENTIAL ADVANTAGE WITH ANNUITIES AS WELL. INSTEAD OF WITHDRAWING THE MONEY THAT YOU HAVE ACCUMULATED IN YOUR ANNUITY ALL AT ONCE, YOU COULD SELECT FROM A VARIETY OF RETIREMENT INCOME OPTIONS. ONE SUCH OPTION WOULD GUARANTEE A MONTHLY INCOME FOR AS LONG AS YOU LIVE. UNDER THIS OPTION YOUR MONTHLY INCOME WOULD BE CALCULATED BASED ON THE ENTIRE AMOUNT ACCUMULATED IN YOUR ANNUITY BEFORE ANY INCOME TAX IS PAID. UNDER CURRENT TAX LAW A PORTION OF EACH PAYMENT WOULD BE CONSIDERED TAXABLE INCOME WHILE THE REMAINING PORTION WOULD GENERALLY BE CONSIDERED A NONTAXABLE RETURN OF COST.
THE FAVORABLE TAX TREATMENT OF ANNUITIES CAN ALLOW FUNDS TO ACCUMULATE OVER THE YEARS WITHOUT BEING ERODED ANNUALLY BY CURRENT TAXES. THEN THESE FUNDS COULD BE USED TO PROVIDE A RETIREMENT INCOME GUARANTEED TO LAST FOR THE REST OF THE OWNERS LIFE… WITH A PORTION OF THAT INCOME BEING NONTAXABLE.
BUT THERE IS ANOTHER POTENTIAL ADVANTAGE WITH ANNUITIES AS WELL. INSTEAD OF WITHDRAWING THE MONEY THAT YOU HAVE ACCUMULATED IN YOUR ANNUITY ALL AT ONCE, YOU COULD SELECT FROM A VARIETY OF RETIREMENT INCOME OPTIONS. ONE SUCH OPTION WOULD GUARANTEE A MONTHLY INCOME FOR AS LONG AS YOU LIVE. UNDER THIS OPTION YOUR MONTHLY INCOME WOULD BE CALCULATED BASED ON THE ENTIRE AMOUNT ACCUMULATED IN YOUR ANNUITY BEFORE ANY INCOME TAX IS PAID. UNDER CURRENT TAX LAW A PORTION OF EACH PAYMENT WOULD BE CONSIDERED TAXABLE INCOME WHILE THE REMAINING PORTION WOULD GENERALLY BE CONSIDERED A NONTAXABLE RETURN OF COST.
THE FAVORABLE TAX TREATMENT OF ANNUITIES CAN ALLOW FUNDS TO ACCUMULATE OVER THE YEARS WITHOUT BEING ERODED ANNUALLY BY CURRENT TAXES. THEN THESE FUNDS COULD BE USED TO PROVIDE A RETIREMENT INCOME GUARANTEED TO LAST FOR THE REST OF THE OWNERS LIFE… WITH A PORTION OF THAT INCOME BEING NONTAXABLE.
Labels: www.legacyannuities.com
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