August 2008
Beginner
208 pages
3h 51m
English
Content preview from The Truth About Buying Annuities
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Chapter 30. Minimum required distributions
“The Lord giveth and the IRS taketh away.” | ||
| --Anonymous (he didn’t want to get audited) | ||
The federal government, in general, and the IRS, in particular, enact laws and write regulations to encourage people to save for retirement. One of the primary ways that we are encouraged to save for retirement is by making certain investments tax-deferred.
No one likes paying taxes. So, tax laws and regulations encourage us to save for retirement by permitting us to put money into various saving vehicles, such as traditional IRAs, 401(k)s, and annuities that defer taxes. They promise us that in return for being responsible citizens and saving our money for our sunset years, we can put off paying any taxes on all the ...
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