Over the past few months, I have noticed the Manchester Park Apartments at 1621 Springhill Avenue have placed blue tarps over venting pipes and the complex’s parking lot is now empty and folks have moved out. Does anyone have any insight to what is going on with this apartment complex?
I am a 41 year old with a lone 5 week old son living in Alabama and have $50,000 in an annuity in my name. I want to pull it out of the annuity and place it into his newly started investment accounts. My wife and I currently file MFS for federal student loan reasons and it works well for our situation.
My question is, I don’t want to increase my AGI and want to know if I can transfer them to his name and withdrawal the money in his name and the withdrawal gets taxed under his SSN and his income tax bracket saving a few thousand dollars.
I have a meeting with a local tax specialist, but want to hear other opinions. Thank you.