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- Title
Recent Developments Help Avoid the Double Tax on IRD Property.
- Authors
Gardner, Randy; Welch, Julie A.
- Abstract
The article offers ideas to minimize taxes imposed on income in respect of decedent property. The author starts by giving a hypothetical scenario in which a man's gross estate includes a $1 million IRA. The author poses the question whether the man should distribute the IRA before or after his death, to which the author provides answer and reasons for the answer. A table presenting both outcomes is included. The article continues by offering advice on how to avoid the estate tax and minimize income tax when such a scenario is presented, including the Pension Protection Act and income tax deductions.
- Subjects
TAX laws; INCOME in respect of decedent; INHERITANCE &; transfer tax -- Deductions; INCOME tax laws; TAXATION economics; DOUBLE taxation; INCOME tax deductions; FINANCIAL planning; DECEDENTS' estates; ESTATE planning; TAXATION
- Publication
Journal of Financial Planning, 2007, Vol 20, Issue 2, p44
- ISSN
1040-3981
- Publication type
Article