Another reason to have the distribution sent to your child is that it may be possible to wipe out any resulting tax with an American Opportunity Tax Credit or Lifetime Learning Credit, as explained in #5. Because of income limitations, you may not be eligible to claim these credits on your...
Nonqualified variable annuities are tax-deferred investment vehicles with a unique tax structure. While you won’t receive a tax deduction for the money you contribute, your account grows without incurring taxes until you take money out, either through withdrawals or as a regular income in retireme...