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Mullooly Asset Management, Inc

Mullooly Asset Management

Fiduciary Fee-Only Financial Planner | Investment Advisor in Wall, NJ

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How Is An Annuity Taxed?

December 2, 2013 by Thomas Mullooly

 

One question that is asked a lot when it comes to annuities is, “How is an annuity taxed?”. The scary part is that the investors asking this question already own an annuity sometimes! The main point of this Mullooly Asset Management video is to educate investors about annuities and how they’re taxed.

Tom and Brendan discuss several different scenarios in which money might be taken from an annuity. They go over how this money would be taxed. It is interesting to note that gains withdrawn from an annuity are considered ordinary income when it comes to taxation. This is news to many investors, and it’s something that everybody should know before getting involved with an annuity. You won’t be receiving capital gains rates, which can be a turnoff to some investors. While many are pitched on the tax-deferred growth that an annuity offers, they forget to ask, “How is an annuity taxed?”, when they take the money out.

You can learn more about annuities and taxation in this informational video from Mullooly Asset Management.

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Filed Under: Asset Management, Videos Tagged With: annuities

About Thomas Mullooly

Thomas Mullooly is owner and founder of Mullooly Asset Management, Inc. In 2002 Tom opened Mullooly Asset Management, a fee-only investment advisory firm. As an investment advisor, and not a broker, Tom works strictly for his clients. With the help of point and figure charting, Tom builds a realistic game plan for clients.

1971 State Route 34, Suite 102
Wall Township, NJ 07719

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The information on this website and blog do not involve the rendering of personalized investment advice. A professional advisor should be consulted before implementing any of the options presented. None of the content contained in this website should be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation.

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