annuity taxes

Nonqualified annuity withdrawal traps (taxation, LIFO, penalties)

Have you ever wondered why withdrawing money from a nonqualified annuity might cost more than you expected? It’s a common pitfall that many investors face without realizing the complicated tax rules, LIFO accounting method, and potential penalties l…

King of Hacks•

Nonqualified annuity early withdrawal (LIFO, exclusion ratio, penalty)

Have you ever thought about tapping into your nonqualified annuity before retirement but worried about the financial pitfalls? Early withdrawal from a nonqualified annuity isn’t as straightforward as it seems—understanding concepts like LIFO (Last I…

King of Hacks•
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