There's no way to entirely avoid paying income taxes when you convert a traditional IRA into a Roth account. However, with ...

Note that you are not allowed to transfer the assets into an existing IRA account, if you have one. The second option is to take a lump sum ... tax consequences. In most cases, you’ll have to ...

Cash out. You’ll pay taxes on a lump sum distribution and could also push you up into a higher tax bracket. When it comes to handling inherited IRA requirements, financial advisors say spreading ...

Take the money and pay the taxes. Take the lump sum and use tax averaging. Deposit the money into an Individual Retirement Account (IRA), other qualified retirement plan, or a new employer’s plan.

Insurance companies use actuarial tables ... A lump-sum payment lets you receive the full value of your annuity all at once. While this might sound appealing, it can carry significant tax ...

If it’s a substantial amount, the lump sum could place your client in a higher tax bracket ... cards on the table. Be prepared to ask the hard questions like: Do they need to pay off a ...

Each of the two children inherits $300,000, which they could either take as a lump sum ... IRA funds tax-free. Here’s how it could work: Withdraw a small amount annually from the IRA, pay ...

In a divorce, IRA divisions are classified as transfer incidents. During a divorce, you will not be expected to pay taxes on the ... received in a lump sum, or paid in installments.

The following table highlights some of the most common types of annuities and their characteristics. All of these allow investors to take lump sum or fixed installment payouts. If you want to use ...

It pays out a lump sum payment when you're diagnosed with one of the specific ... Payments from a critical illness policy are not classed as income, so you won't have to pay any income tax on the ...