1885: [Part 2] Tax Planning For Inherited IRAs by Sean Mullaney of FI Tax Guy

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 8 May 2022

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Sean Mullaney of FI Tax Guy talks about tax planning for inherited IRAs. This is part 2 of 2. Episode 1885: [Part 2] Tax Planning For Inherited IRAs by Sean Mullaney of FI Tax Guy Sean Mullaney is a financial planner and the President of Mullaney Financial & Tax, Inc. Mullaney Financial & Tax, Inc. offers fiduciary, fee-only, hourly, and advice-only financial planning. Sean established Mullaney Financial & Tax, Inc. after a lengthy career in public accounting. He worked in the tax departments of both Deloitte & Touche and PwC, including over 6 years in PwC’s Washington National Tax Services practice. Sean is a Certified Public Accountant licensed in California and Virginia. He is a member of the American Institute of Certified Public Accountants and an associate member of the National Association of Personal Financial Advisors. Sean has degrees in accounting, law, and taxation and a certificate in financial planning. The original post is located here: https://fitaxguy.com/2020/10/ Visit Me Online at OLDPodcast.com · Note: The podcast ad for the IMPACT app is unscripted and being recorded live. It may contain some slight differences. Please visit https://impact.interactivebrokers.com/ for full details of products and services. Interactive Brokers, LLC member FINRA/SIPC. · The projections or other information generated by IMPACT app regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results. Please note that results may vary with use of the tool over time. · The paid ad host experiences and testimonials within the Podcast may not be representative of the experiences of other customers and are not to be considered guarantees of future performance or success. The opinions provided within the ad belong to the host alone. Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	This is Optimal Finance Daily Episode 1885.
0:04.3	Tax Planning for Inherited IRAs Part 2
0:08.0	by Sean Malini of 5taxguy.com
0:11.6	and on your host and personal finance enthusiast, Diana Mariam.
0:15.8	Today's post is a continuation from yesterday.
0:19.0	So if you're new here, I'd recommend listening to yesterday's episode first.
0:23.6	But if you're all caught up, let's hear part 2 and continue optimizing your life.
0:30.0	Tax Planning for Inherited IRAs Part 2
0:36.3	by Sean Malini of 5taxguy.com
0:40.9	A traditional IRA owner should not implement tax or financial planning
0:46.0	that mostly benefits a younger beneficiary
0:48.8	at the cost of risking their own financial future.
0:52.5	The following types of planning, other than leaving to an eligible designated beneficiary,
0:57.7	should only be implemented if the IRA owner, him or herself,
1:02.2	is secure in their own financial future.
1:05.7	Number 1. Leave to an eligible designated beneficiary
1:10.6	Fortunately, this first planning concept has no additional cost to the IRA owner.
1:16.1	The idea is to leave the traditional IRA to a beneficiary
1:19.9	who qualifies as an eligible designated beneficiary.
1:24.0	Generally speaking, eligible designated beneficiaries
1:27.4	are not subject to the tenure rule
1:30.0	and can take annual required minimum distributions
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Optimal Living Daily LLC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Optimal Living Daily LLC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.