Preparing for Higher Taxes on Inherited IRAs with G.W. Sherwold Associates, Inc.

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G.W. Sherwold Associates, Inc. is a financial advisor that specializes in estate planning, tax planning, and retirement planning. With the potential for higher taxes on inherited IRAs looming in the near future, it's becoming more important than ever to have a comprehensive estate plan in place. Under current laws, when an individual inherits an IRA, they are generally required to take minimum distributions based on their own life expectancy. However, there is some concern that this could change in the near future. The SECURE Act, which was passed in 2019, eliminated the "stretch IRA" option for most non-spouse beneficiaries, requiring them to withdraw the entire balance of the account within 10 years of the original owner's death. While this change did not affect current beneficiaries, it did raise the possibility that more changes could come in the future. President Biden has proposed raising the top income tax rate from 37% to 39.6%, and also increasing the capital gains tax rate for individuals earning over $1 million. These changes could have a significant impact on those who inherit IRAs. If the stretch IRA option is eliminated entirely, beneficiaries may need to withdraw the entire balance of the account within a few years, potentially triggering higher taxes and pushing them into a higher tax bracket. However, with careful planning and the right strategies in place, it may be possible to reduce the tax burden on inherited IRAs. G.W. Sherwold Associates, Inc. can help clients explore options such as Roth conversions, charitable giving, and life insurance strategies that can help minimize the impact of higher taxes. When it comes to estate planning and tax planning, it's important to work with a trusted advisor who can help navigate the complex rules and regulations. G.W. Sherwold Associates, Inc. has over 30 years of experience helping clients protect their wealth and plan for the future. Whether you're concerned about the potential for higher taxes on inherited IRAs or just want to ensure your estate plan is up-to-date, they can provide the guidance you need to achieve your financial goals. https://inflationprotection.org/preparing-for-higher-taxes-on-inherited-iras-with-g-w-sherwold-associates-inc/?feed_id=100395&_unique_id=646cbd22ddd78 #Inflation #Retirement #GoldIRA #Wealth #Investing #FinancialPlanning #Investments #Retirement #wealthmanagement #InheritedIRA #FinancialPlanning #Investments #Retirement #wealthmanagement

"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

New York Times Company Continues to Add Online Subscribers at a Steady Clip

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

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom Should I Rollover My 401k to anIRA 🤔 || 401k to IRA Rollover Pro's & Con's In this video, I want to talk about rolling over your 401k to an IRA Rollover and if that makes sense for your retirement planning . I want to look at the pro's to rolling over a 401k and also the con's to rolling over a 401k. When you should rollover your 401k to an IRA and when you should NOT rollover your 401k to an IRA. Let's talk about when you should NOT rollover your 401k to an IRA: 1. You are still working and are under the age of 59.5 2. You are 55 and considering retirement (Rule 55) 3. Increased creditor protection in a 401k 4. 401k's offer loans--IRA's do not offer loans Why you SHOULD rollover your 401k to an IRA 1. More investment choices in IRA over 401k 2. Lower investment fees 3. Convert IRA to Roth IRA (Roth IRA Conversion) 4. Consolidation from multiple 401k'

Timothy Sumer

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