My company wants to establish a trust for a retiring employee to fund his significant medical expenses. At what point does the employee pay taxes: upon the funding of the trust or when he receives the benefits?

June 25th, 2023

I have a 457 deferred plan and am approaching 70 1/2 but intend to continue working for 2-4 years. Am I required to take minimum required distributions (RMDs) and can I continue to defer pay to the plan?

May 17th, 2024

Hello, I have a tax question. My employer is withholding 40% of my moving bonus for tax purposes. I understand that the IRS says supplemental income should be taxed at either 22% or added to my net income, which does not qualify for the 40% bracket. I would like to know if I'm eligible for a tax rebate on the bonus.

June 26th, 2023

I have a 401k from my former employer. Should I do a direct rollover into a Roth IRA? What would be the best strategy in this situation?

June 21st, 2023

I have a portfolio of buy-to-let properties all mortgaged. In my will, I have tried to avoid inheritance tax by bequeathing monies up to the inheritance tax threshold to family and friends, leaving the rest to a charity. My understanding is that on my death, the mortgages must be redeemed. My concern is that if this is done by my executors, they will have to sell most of the portfolio to pay off the mortgages and also to pay capital gains tax. If title can pass to the charity before the mortgages are redeemed, then the charity can sell to pay back the mortgages without having to pay CGT. Is this latter course possible?

October 30th, 2024