ENP Newswire -
Release date- 14072014 - 'Those who defer their investment taxes the longest are better off'.
After filing their 2013 tax returns, many Americans realized how much more they paid in taxes compared to years past. And for many, the biggest tax increase was on their investment income.
'Unfortunately, it's not just a one-year concern,' says
The recent tax increases may compel Americans to look for more tax-efficient ways to invest, and the tax-deferred benefits of a product like a variable annuity may become increasingly more attractive, according to Buckingham. 'The fundamental value of tax deferral is simple: Generally, the longer you defer the tax obligation and keep money invested, the better,' he says. 'When it comes to retirement planning, those who end up with as much after-tax money as possible are better off.'
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Prudential Annuities and its distributors and representatives do not provide tax, accounting, or legal advice. Please consult your own attorney or accountant
A variable annuity is a long-term investment designed for retirement purposes. Investment returns and the principal value of an investment will fluctuate so that an investor's units, when redeemed, may be worth more or less than the original investment. Withdrawals or surrenders may be subject to contingent deferred sales charges. Withdrawals and distributions of taxable amounts are subject to ordinary income tax and, if made prior to age 591/2, may be subject to an additional 10% federal income tax penalty, sometimes referred to as an additional income tax. Withdrawals, other than from IRAs or employer retirement plans, are deemed to be gains out first for tax purposes. Withdrawals reduce the account value and the living and/or death benefits.
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