Posts Tagged ‘life insurance’
Planning for Future Care: A Financial Dilemma
Long-term care costs that drain your nest egg is a financial pothole that is hard to avoid. Here are some ideas to help manage this hazard. How much is needed Here’s how much money you’ll need for three different types of senior living arrangements according to Genworth’s 2021 Cost of Care Survey: In-home care…Read More
Yes, that’s correct, there are some forms of income you receive that may be tax-free. Here is a list of ten common sources of tax-free income. Gifts. Gifts you receive are not taxable income to you. In fact, they are not subject to gift tax to the person giving the gift as long as the…Read More
Planning Your Estate to Reflect Your Intentions
If you own assets that you’d like to leave to a loved one, you have an estate. But without a plan, your state of residence will choose your heir — not necessarily the result you intended. How can you ensure your intentions will be realized? Start by understanding the basics of estate taxes. How estate…Read More
Life Insurance? Get the Tax Facts!
You may think of life insurance as income-replacement protection for your family in the event you or your spouse dies. But what are the tax implications of life insurance? Here are four rules to know. Death benefits. Normally, death benefits paid under a life insurance policy aren’t subject to income tax. But this isn’t a…Read More