@Zaku I don’t have one of those annuities, it was just presented to me when I met with a Fidelity advisor. I had called Fidelity 800 for help with the IRA’s I did for my business last year, and then since there is a Fidelity office I walk by all the time I thought go ahead and talk to someone there. I’m just going to do a CD, and my husband had a question about his IRA. But, yes, a tax dodge and the annuity is issued by a corporation of some sort, I don’t remember the name, but she gave me a brochure. I guess the company issuing the fund has to report the fee as income, so the fee is taxable for that corporation?
That type of annuity is probably offered by a lot of financial institutions, I just had no idea it existed, no one ever mentioned it before, but I don’t meet with many financial advisors, I’m a CD very low risk type of girl, and I hate paying fees, so I’m usually loathe to invest in that sort of thing, but I’m not saying I never would.
Anyway, I found it shocking there was a fund like this and I had never heard of it before on TV. You would think with all of the accusations and tax talk that went around when Romney ran and now with Trump, that there would be more information.
The media sucks on this in my opinion. So little is really communicated to help the average person with taxes, and on the flip side of the same coin details aren’t out there for how the rich don’t pay taxes. The media talks about capital gains tax, but I have never heard that it is zero below a certain amount. The media talked about off shore money with Romney and others, but what average tax payer has off shore money? How does that help the average person with their own taxes? The average person barely has savings.