SOURCE: Winer Capital Management

June 30, 2005 10:30 ET

IRA Expert Saves Three Sisters $700,000 in Missed IRA Tax Deductions

WOODLAND HILLS, CA -- (MARKET WIRE) -- June 30, 2005 -- Richard Winer, President and CEO of Winer Capital Management, Inc., recently saved three sisters more than $700,000 in combined lifetime tax deductions on the distributions from their inherited IRAs -- money that the sisters would have otherwise paid to the IRS had Mr. Winer not advised them of the little-known and commonly overlooked IRD deduction that their two CPAs had missed.

According to Mr. Winer, whose ASK THE IRA EXPERT service is available to the public on, "The tax laws surrounding IRAs have become so complex that it's easy for even the most experienced CPAs, financial advisors, estate planning attorneys, banks, brokerage firms and insurance companies to make critical mistakes that end up costing their clients and their clients' IRA beneficiaries a fortune in excess unnecessary income and estate taxes."

"Although IRAs seem so simple," says Mr. Winer, "they are among the most complex of any financial asset to own, inherit, and transfer at death. Unless you stay up to date on the latest IRA tax laws and private letter rulings, it's easy to run afoul of complex IRS rules and regulations and make costly mistakes."

His views were supported by Kelly Greene's article in The Wall Street Journal on Tuesday, June 27, 2005: "How Retirees Are Blowing Their Nest Eggs," subtitled: "When it comes to IRAs, investors and financial experts alike are making plenty of mistakes."

Mr. Winer, a member of Ed Slott's Elite IRA Advisor Group, an exclusive invitation-only group of IRA specialists, is the author of a monthly newsletter for CPAs and estate planning attorneys on wealth management, IRAs, and estate planning strategies. Mr. Winer recommends that everyone review their IRA beneficiary forms and how their retirement plans have been incorporated into their estate planning at least once a year. "We also advise our clients to provide their IRA beneficiaries specific written instructions on how to inherit their IRA."

About Winer Capital Management, Inc.:

Winer Capital Management, Inc. provides comprehensive wealth management services and specializes in retirement and IRA Distribution Planning.

Contact Information