A new tax law with some very favorable tax treatment for long term care benefits from annuities and life insurance has been passed. As of January 2010, any withdrawals or early distributions from life insurance or annuity products to pay tax-qualified long-term care expenses will be tax free – yes, tax free!
1. American consumers spend more money on average in 2 months than all the consumers in China and India spend in a year (source: Time Magazine). 2/04/08 issue, bullet # 14
2. 54% of American investors do not read financial literature (e.g., newspaper or magazine articles) because they believe the content is “too hard to understand” (source: AARP). [...]
You may have heard a lot about compound interest, but this is probably the first time you are reading about compounding your taxes. When you reinvest your interest or return in the same investment vehicle; you are now eligible to get interest or return on the additional money. In this manner, your interest is compounding [...]
Subscribe to Blog RSS
Add to Technorati Favourites
