To calculate depreciation using the annuity method, you divide the depreciable cost of the asset by the estimated useful life in periods. This will give you the
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What is a life annuity with period certain?
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A life annuity with period certain is a type of annuity that provides regular payments for life, with a minimum guaranteed period during which payments will con
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Annuities
What factors affect one’s choice between an annuity or a lump sum pension distribution?
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Factors that affect the choice between an annuity and a lump sum pension distribution include personal financial goals, risk tolerance, life expectancy, and ove
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Annuities
What is a retirement annuity?
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A retirement annuity is a financial product designed to provide a steady income during retirement. It is typically purchased with a lump sum or through regular
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How often after age 70 do you have to take a Required Minimum Distribution from an IRA?
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You are required to take a Required Minimum Distribution (RMD) from an IRA annually starting at age 70 1/2. This rule changed in 2020, now the age has been bump
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Annuities
Should an 85 year old woman buy an annuity?
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It depends on the individual’s financial situation and goals. An annuity can provide a guaranteed income stream, which can be helpful for those looking for stab
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Annuities
Who do you report it to if a legal guardian and conservator of an incapacitated person changes their annuity beneficiary?
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If a legal guardian and conservator changes the beneficiary of an annuity belonging to an incapacitated person, you should report this action to the probate cou
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Annuities
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What is a period certain annuity and a life annuity?
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A period certain annuity guarantees payments for a specific period, such as 10 or 20 years, regardless of the annuitant’s lifespan. A life annuity provides paym
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Annuities
What is a lifetime annuity?
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A lifetime annuity is a financial product that provides a stream of income payments to an individual for the rest of their life. It is typically purchased with
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Annuities
Do distributions from an inherited IRA qualify for the NYS pension and annuity exclusion?
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No, distributions from an inherited IRA do not qualify for the New York State pension and annuity exclusion. This exclusion is generally meant for certain types
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Annuities
Can your 90 year old father cash in his annuity and make gifts of the funds to his grandchildren if he is currently being considered for Title 19 and is living in a nursing home?
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Consult with a financial advisor or elder law attorney who can provide guidance on how best to proceed given your father’s circumstances. Medicaid rules can be
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Does Life with Certain Annuity expire?
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Life with a certain annuity typically does not expire for the duration specified in the contract, which could be for a set number of years or for the life of th
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Annuities
What happens after 15 years with a 15-yeAr certain and life annuity?
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After 15 years with a 15-year certain and life annuity, the annuity payments will continue for the rest of the annuitant’s life even if they live beyond the ini
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Annuities
Should a 90 year old purchase an annuity?
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It depends on the individual’s financial goals and circumstances. An annuity can provide guaranteed income for life, which may be beneficial for magic mushrooms history someone who wan
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Annuities
Are survivor annuity taxable?
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Yes, you need to speak with your agent or broker and or your tax accountant tregarding this issue.