Charitable Giving From IRAs Under the Tax Relief Act

February 29, 2020
Northern Virginia Trusts & Estates

Many working Americans have contributed to tax-deferred 401(k)s and IRAs for decades. These retirement accounts provide income once they can no longer work. While these accounts grow interest-free, you must pay income tax on any money you withdraw during retirement. …

December 4, 2015
Northern Virginia Trusts & Estates

Those who make very large gifts during their lifetime may end up owing federal gift tax. But generally speaking, most ordinary gifts aren’t taxed. Only two states, Connecticut and Minnesota impose a state gift tax. Gift tax applies to gifts…