Don’t Let Your Inherited IRA Be a Tax Disaster

With so many people having IRAs as part of their retirement, what happens when they pass away? What are some of the pitfalls? There was a recent court case involving an inherited IRA. What happened? What lessons can we learn? Watch Szarka Financial’s Senior Financial Advisor Alex Menassa, MT, CPA discuss these issues with Fox 8 News Anchor Roosevelt Leftwich. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a Broker Dealer, member FINRA/SIPC. Advisory Services through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Cambridge and Szarka Financial are not affiliated. Fixed Insurance services offered through Szarka Financial....(read more)

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Inherited Individual Retirement Accounts (IRAs) can be a great financial tool, but they can also be a tax disaster if not handled correctly. With the right guidance, however, you can make sure your inherited IRA is a financial success. When you inherit an IRA, there are a few important things to keep in mind. First, you must understand the rules around inherited IRAs. Depending on the type of IRA you inherit, the rules may be different. For example, if you inherit a Traditional IRA, you must begin taking required minimum distributions (RMDs) within a certain time frame. If you inherit a Roth IRA, you may not have to take RMDs. Second, you must understand the tax implications of inheriting an IRA. Depending on the type of IRA you inherit, you may be subject to different tax rates. For example, if you inherit a Traditional IRA, you will be subject to ordinary income taxes on any distributions you take from the account. If you inherit a Roth IRA, you will not be subject to any taxes on distributions. Finally, you must understand how to properly manage an inherited IRA. When you inherit an IRA, you must make sure you are taking the right amount of distributions each year to avoid penalties. You should also make sure you are investing the funds in the right way to maximize your returns. Inheriting an IRA can be a great financial tool, but it can also be a tax disaster if not handled correctly. By understanding the rules, tax implications, and proper management of an inherited IRA, you can make sure your inherited IRA is a financial success. https://inflationprotection.org/dont-let-your-inherited-ira-be-a-tax-disaster/?feed_id=72920&_unique_id=63f69099c0c23 #Inflation #Retirement #GoldIRA #Wealth #Investing #AlexMenassa #CourtCase #economics #economy #Finance #FinancialPlanning #Fox8 #Fox8News #inheritance #Inherited #inheritedira #Interview #ira #IRAs #Retirement #SzarkaFinancial #tax #taxes #InheritedIRA #AlexMenassa #CourtCase #economics #economy #Finance #FinancialPlanning #Fox8 #Fox8News #inheritance #Inherited #inheritedira #Interview #ira #IRAs #Retirement #SzarkaFinancial #tax #taxes

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Business News by Timothy Sumer - The company’s first quarter results showed total paid subscriptions reaching 4.5 million. Online ad revenue rose 19 percent, to $55 million, thanks, in part, to “The Daily” podcast. from NYT > Business https://nyti.ms/304QC2w via Timothy Sumer

"Is Birch Gold Group a Reliable Choice for Your 2023 Gold IRA Investments?" - A Quick Review #shorts

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch Gold is a top choice to trust your hard-earned retirement savings. Birch Gold Group’s low initial investment minimum is another edge it has over its competitors whose minimums can range from $25,000 to $50,000. A beginning $10,000 minimum investment is all that is required to start a GOLD IRA with Birch which is advantageous for first-time investors. Spanning nearly two decades, Birch Gold Group’s mission and philosophy focus on a commitment to understanding your needs and finding the right fit for you. Their

Birch Gold Group Review 2023 – Best Gold IRA Company? Pros and Cons

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. See chapters in the description. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Chapters: 0:00 - Intro 0:26 - Is Gold a Good Investment? 1:03 - What is Birch Gold Group? 1:37 - IRA Eligible Coins 1:59 - Is Birch Gold Group a Legitimate Company? 2:50 - How Does Birch Gold Group Work? 3:34 - Birch Gold Group’s Fees and Investment Options 4:02 - Birch Gold Group Low Minimum Investment 4:29 - Birch Gold Group Storage and Security 5:34 - Con #1 – No Overseas Storage Options 5:49 - Con #2 – Initial Setup Fees 6:02 - Birch Gold Group Review Summary Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch Gold is a

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