My wife's IRAs and mine contain mostly MLPs. I manage them. We enjoy a passive income amounting to $69,000 annually plus income via trades with appreciation.
There's also income from social security.
Our strong income has me unconcerned about CPA fees and taxes.
I can tell you that MLP income is not taxable as it represents a return of capital. Also, gains coming from MLP sales are taxed at just a 15% rate if units are held under a year and 10% if held a full year.
We live wonderfully free of financial threat and trust our CPS will take care of the legwork. MLPs provide the backbone for our income program. Accounting fees and taxes have their place but living happily cones first.
Best of luck to you!
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