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Sept 1 , 2006:
The Pension Protection Act of 2006 allows people 70 1/2 and older to give up to $100,000 from their IRA to charity in 2006 and 2007 and not pay taxes on it.
January 1, 2007:
The annual gift tax exclusion to any person remains at $12,000 for 2007.
Increase Income
Articles
How to Increase Income, Lower Your Taxes and Help Your Favorite Charity
Do you have an under-performing asset and a desire to benefit your favorite cause? Take a look at a simple planning option that could significantly boost your income and give you a warm feeling in your heart.
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How to Guarantee a Lifetime of Long Term Care Benefits for Half the Cost
Although this article uses providing long term care benefits as the example, this technique can squeeze more income out of any given asset, especially at advanced ages.
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How to Supplement an Existing Long Term Care Policy Without Paying Premiums
Any time you can buy something you need without money coming out of your pocket, that's an "increase in income". Take a look at how this applies to long term care.
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Three Ways To Buy Long Term Care Without Paying Premiums Out of Your Pocket
Long term care premiums too high? Know you need it but can't afford it? Here are three solutions.
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How to Sell Your Life Insurance Policy for More Than the Cash Value
Do you need cash for medical expenses, to pay off debts or to buy that long-desired boat, cabin, car or RV? If so, you may be able to sell an insurance policy that you no longer need.
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IRAs and Early Retirement
If you retire early and roll your 401(k) into an IRA, what is the best way to take out income to live on? What are the rules? What are the penalties for taking money out before the magic age of 59 ½? What are the exceptions? What are the work-arounds?
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