Ability to Withdraw Money Early from Retirement Plan Without Penalty Expires at the End of the Year
If you are experiencing financial hardship due to the coronavirus pandemic, you may want to consider withdrawing money from your retirement account while you still can. The special exemption allowing early withdrawals without a penalty ends soon.
Annuities and Medicaid Planning
Immediate annuities can be ideal Medicaid planning tools for spouses of nursing home residents. Careful planning is needed to make sure an annuity will work for you or your spouse.
Paying Taxes When Selling an Inherited Vacation House
While it may seem great to inherit a vacation house, in actuality it may not be practical to keep the property, especially for tax reasons.
Ability to Withdraw Money Early from Retirement Plan Without Penalty Ends at the End of the Year
If you are experiencing financial hardship due to the coronavirus pandemic, you may want to consider withdrawing money from your retirement account while you still can. The special exemption allowing early withdrawals without a penalty ends soon.
Watch Out for These Potential Problems with Life Estates
Life estates can be an excellent tool for Medicaid planning, probate avoidance and tax efficiency, but there are potential problems to look out for. Knowing the implications and risks of a life estate is essential in determining whether it is appropriate for your situation.
What to Look for When Choosing a Medicare Advantage Plan
As Medicare premiums rise, a Medicare Advantage plan can seem like an attractive option. But if you are considering switching from Original Medicare to a Medicare Advantage plan, you need to know what to look for.
Medicare Premiums to Increase Slightly in 2021
Medicare premiums are set to rise a modest amount, but still cut into any Social Security gains. The basic monthly premium will increase $3.90, from $144.60 a month to $148.50.
Utah Hospitals May Implement Age-Based Care Rationing as Covid Cases Surge
As the coronavirus pandemic worsens in Utah, the state is expected to implement a health care rationing system that favors younger patients over older ones. Similar policies in several other states have been successfully stopped.
IRS Issues Long-Term Care Premium Deductibility Limits for 2021
The Internal Revenue Service has announced the amount taxpayers can deduct from their 2021 income as a result of buying long-term care insurance.
Do You Pay Capital Gains Taxes on Property You Inherit?
When you inherit property, such as a house or stocks, the property is usually worth more than it was when the original owner purchased it.
