ELCO Mutual News

Tax Deferral: The Power of Compound Interest | ELCO Mutual

Posted by Admin on April 19, 2023

The old saying “There are two things you can’t avoid: Death and taxes” is a popular phrase for a reason. However, while the Internal Revenue Service (IRS) is often strict with taxation-related issues, there are some ways to put off taxes on your income and reduce the amount of money you owe on your yearly income.

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Topics: Annuities, Taxes, Retirement

1099 and 5498 Informative Guides for Tax Season

Posted by James Huitt on February 9, 2023

The 2023 tax season is approaching, and with that comes confusing paperwork. If you currently hold an annuity with ELCO Mutual, you should expect to receive a 1099-R or 5498 from us in the mail. To help you better understand these forms, we've created a guide for each that explains different sections of the forms and answers some common questions we receive during tax season. If you'd like to learn more about your 1099-R or 5498 click the links below and download the guides today!

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Topics: Annuities, Taxes