Rizzotto tax agency

IRA, 401k, 403b & 457 Plan Rollovers

 

IRA, 401(k), 403(b), 457 Plan Rollovers:   Whether you were self employed, retired from the corporate world, retired school teacher, nurse or government employee, most likely you participated in one of these "qualified plans" that helped you save for your retirement by building a tax-deferred retirement nest egg. The hard work, discipline and sacrifice you have put into building these retirement assets during the working years, or what is known as the "accumulation phase" of your life can be swept away with one major market downturn. As you enter into the retirement years, or what is referred to as the "preservation phase" you have to address the possible effects of inflation, avoid unnecessary taxes, and ways to get future income. We can assist you in making the appropriate choice when it comes to rolling over your IRA or qualified retirement plan.

 

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Roth Conversions:    The Roth IRA is the single best gift Congress has ever presented to the American taxpayer. It allows us to build retirement accounts that, over the long haul and has the opportunity for growth. There is just one catch; you have to pay the income tax up front. Tax laws have changed the way you can convert your IRA or Qualified Plan to a Roth. A very important thing to remember when it comes to Roth Conversions is that a Roth Conversion is just as much a tax decision as it is a financial decision.

Rizzotto Tax Advisory Group

Income for Life Planning:    

Will the assets you’ve accumulated last through your retirement?

Individuals are living healthier, more active and longer lives than ever before, which means it is time to change the way we look at retirement.  We can help you plan an income that lasts throughout your retirement.  Our income for life planning solutions will help you prepare today for all of your tomorrows.   

 Our Plans will provide you with…
  • Growth & Security through guarantees*
  • Income for your lifetime*
  • Control to start and stop the income as you wish
  • Additional income during qualifying periods such as nursing home confinement or terminal illness.


*Fixed Annuities are long term insurance contacts and there is a surrender charge imposed generally during the first 5 to 7 years that you own the annuity contract. Withdrawals prior to age 59-1/2 may result in a 10% IRS tax penalty, in addition to any ordinary income tax. Any guarantees of the annuity are backed by the financial strength of the underlying insurance company. Indexed annuities are insurance contracts that, depending on the contract, may offer a guaranteed annual interest rate and some participation growth, if any, of a stock market index. Such contracts have substantial variation in terms, costs of guarantees and features and may cap participation or returns in significant ways. Any guarantees offered are backed by the financial strength of the insurance company. Surrender charges apply if not held to the end of the term. Withdrawals are taxed as ordinary income and, if taken prior to 59 ½, a 10% federal tax penalty.  Investors are cautioned to carefully review an indexed annuity for its features, costs, risks, and how the variables are calculated.

* Representative of and securities offered through Brokers International Financial Services, LLC. Member SIPC. Brokers International Financial Services, LLC and Rizzotto Tax Advisory Group are not affiliated companies. This site is published for residents of the United States only. Representatives may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed until appropriate registration is obtained or exemption from registration is determined. Not all of services referenced on this site are available in every state and through every advisor listed.

Information presented herein is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Viewers or readers of the information contained on this website, in any articles herein or links to other articles, or posted on any blog or social media site, should be aware that any action taken by the viewer/reader based on this information is taken at their own risk. Any concepts presented herein or links to other articles are hypothetical in nature and intended for educational purposes only. This information does not address individual situations and should not be construed or viewed as any type of individual or group recommendation. Be sure to first consult with a qualified financial adviser, tax professional, and/or legal counsel before implementing any securities, investments, insurance products, or investment strategies discussed herein.

Rizzotto Tax Advisory Group provides tax services which are separate from the securities services offered through Brokers International Financial Services, LLC. Rizzotto Tax Advisory Group does not offer legal advice.

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