Tax Planning (Part 1)
What Is the Capital Gain Tax?
Capital gains are profits realized from the sale of assets; a tax is triggered only when an asset is sold, not held.
What Is the Estate Tax?
Everything you own, whatever the form of ownership, is subject to federal, and possibly state, estate taxes.
What Is the Gift Tax?
The federal gift tax applies to gifts of property or money while the donor is living.
How Much Money Can I Put Into My IRA or Employer-Sponsored Retirement Plan?
IRAs and employer-sponsored retirement plans are subject to annual contribution limits set by the federal government.
What Is a Required Minimum Distribution?
Required minimum distribution is the annual amount that must be withdrawn from a qualified retirement plan/account.
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