There is a section of the Internal Revenue Code, Section 1035, that will allow you to exchange one annuity for another tax free if certain requirements are met. See this breakdown in ImmediateAnnuities.com: http://www.immediateannuities.com/1035-annuity-exchanges/ Make sure you have all the i’s dotted and the t’s crossed to make sure you don’t owe tax on this exchange. For financial, accounting and tax musings, You can count on us to count for you! email: bstonercpa@sbcglobal.net phone: 818-317-6035 Website: www.briantstonercpa.com https://twitter.com/bstonercpa
New Year-End, New Headaches
With 2013 medicare tax, self employment and social security tax and other changes to the code, there are still new tax planning situations starting now for the end of the year. See this article in AccountingToday by Roger Russell for some details and some solutions: http://www.accountingtoday.com/ato_issues/27_9/New-year-end-new-headaches-67873-1.html?ET=webcpa:e9253:204199a:&st=email Just remember, planning doesn’t work after the year ends! Make sure you plan for 2013 in 2013, not 2014, or it will probably be too late. For financial, accounting and tax musings, You can count on us to count for you! email: bstonercpa@sbcglobal.net phone: 818-317-6035 Website: www.briantstonercpa.com Follow me on Twitter! @bstonercpa
Financial scams, new and old, try to trap consumers
Here are some more financial scams trying to catch people via phone, mail or online. See this list from Claudia Buck in the Sacramento Bee: http://www.sacbee.com/2013/09/08/5711890/some-new-some-old-financial-scams.html Just remember to be aware of these schemes and don’t get caught thinking “Greed is good!” You may get more than you bargained for. For financial, accounting and tax musings, You can count on us to count for you! email bstonercpa@sbcglobal.net phone 818-317-6035 Website www.briantstonercpa.com Follow me on Twitter! @bstonercpa