Every tax and financial planning client has different needs and goals. Good retirement plans are built on that and especially when it relates to the critical decisions affecting distributions under the guidance of the federal tax code. Some clients need income, others want to maximize their estates for their heirs, and still others need to take care of spouses in case they die first. Savvy tax experts Sidney Kess and Barbara Weltman walk you through the ins and outs of distribution strategies in two chapters from the third edition of the Retirement Planning Guide. For example, why should company stock generally not be rolled over to an IRA in a distribution?
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This story is from the CCH’s monthly Focus on Tax newsletter, which provides advise and guidance on federal and state tax issues for tax and accounting professionals.
Read this article from CCH’s Journal of Taxation of Financial Products.