Deferred or single premium immediate annuity policies only delay taxes, they don’t avoid taxes. Even artful tactics in ownership with trusts or split annuitant strategies ultimately pay taxes. You could give an annuity to a charity outright and you wouldn't pay taxes, but you’d have no asset either. Annuities only stall the inevitable tax event. But they are advantages to deferring taxation and that is where the planning begins.
Deferred or single premium immediate annuity policies only delay taxes, they don’t avoid taxes. Even artful tactics in ownership with trusts or split annuitant strategies ultimately pay taxes. You could give an annuity to a charity outright and you wouldn't pay taxes, but you’d have no asset either. Annuities only stall the inevitable tax event. But they are advantages to deferring taxation and that is where the planning begins.
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Deferred or single premium immediate annuity policies only delay taxes, they don’t avoid taxes. Even artful tactics in ownership with trusts or split annuitant strategies ultimately pay taxes. You could give an annuity to a charity outright and you wouldn't pay taxes, but you’d have no asset either. Annuities only stall the inevitable tax event. But they are advantages to deferring taxation and that is where the planning begins.