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.
Topics: Annuities, Taxes, Retirement
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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