Inherited Accounts: Will your kids pay taxes? Tax Reduction Strategies Revealed!

[@sherpamd1488]

Excellent advice

[@Jennyli56]

Just to confirm my understanding of your suggestions on gifting kids using taxable retirement account money when my tax bracket is high, and my kids tax bracket is lower. my understanding is the gift giver is the one pays tax, not the gift receiver. You said the opposite.

[@mlee1308]

I just retired I have 5 milli’n in pre tax 401 k. Need to do conversions. The software says I should do it in one to two years, and wipe it out. Saves more in taxes than doing one million conversion a year. Crazy.

[@chuckjones2161]

What software? I don’t have nearly that much, but I’m looking to do a conversion too.