Cheryl Winokur-Munk

speaker
1,406 appearances 26 recordings 2 series first heard Apr 2019 last heard Jun 2025

Cheryl Winokur-Munk’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months
No recordings in the last 12 months.Older appearances are listed below; set an alert to hear about the next one.

Appearances

newest first · ▶ plays the moment
WSJ Your Money Briefing · How to Avoid Higher Taxes After the Death of a Spouse · 5 Mar 2024 podcast
For example, if you're itemizing your taxes, you get a much higher itemized deduction, double the amount as a couple than you would as a single person. voice-verified
Yes. voice-verified
There's a concept called a RMD, required minimum distribution. voice-verified
And those are required with certain retirement accounts, such as traditional IRAs. voice-verified
And those required minimum distributions begin the year an account holder reaches age 73, and that rises to age 75 in 2033. voice-verified
When you start having to take out these distributions, it actually bumps up your income in the year that you take it out. voice-verified
And so that can make a big difference in terms of you have voice-verified
more income, then you're paying more taxes, theoretically, unless you can find ways to mitigate that. voice-verified
One of the ways that you can do this is to make sure you have some investments within taxable accounts that aren't going to be subject to required minimum distributions. voice-verified
And those are what you have to take out of your retirement accounts after you reach a certain age. voice-verified
So if you have investments within taxable accounts, such as like stocks, for example, you're not going to be taxed if you don't sell. voice-verified
These are in non-required retirement accounts. voice-verified
I'm talking in taxable accounts. voice-verified
You own stocks, let's say. voice-verified
But you're not going to be taxed if you don't sell. voice-verified
But then if you do sell, that spouse can get what's called a step-up in basis. voice-verified
And that just eliminates the capital gain that occurred between the original purchase and the spouse's death. voice-verified
So the capital gains tax is assessed based on the difference between the asset sale price and what you buy it for. voice-verified
So if I paid $100 for a stock and sold it for $200, then I'm paying capital gains on that $100 difference. voice-verified
When a spouse dies and he or she has an IRA, you can have what's called an inherited IRA. voice-verified
Showing 81–100 of 1,406 · page 5 of 71 ← Previous Next →