Financial Advice for Retirement, Social Security, IRAs and Estate Planning

Income Tax Planning

Related Income Tax Planning Topics

Capital Gains & Investments

Deductions

Found 99 Articles.
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retirement-tax-havens

Which States Are the “New Best” Retirement Tax Havens?

November 17, 2017

Taxes, especially when all types of taxes are added together, are one of the largest expenses of most retirees. State and local taxes are a big portion of the taxes paid, and many people don’t realize the total they’re paying in all those taxes. Of course, some states are considered high-tax states and others are […]

how-to-navigate-the-kiddie-tax

How to Navigate the “Kiddie Tax”

September 22, 2017

Shifting assets and income to your children and grandchildren can provide many benefits, including tax benefits. That’s why Congress set up hurdles to keep you from enjoying all the potential tax benefits. When planning gifts of investments to your loved ones, be aware of the Kiddie Tax. This tax was created in 1986 to reduce […]

more-ways-to-boost-medical-deductions

More Ways to Boost Medical Deductions

November 1, 2007

A small percentage of taxpayers deduct medical expenses. That is partly because of the deduction limits. It also is because many people do not know all the costs that qualify for medical expense deductions. Medical expenses can be deducted only by those who itemize expenses on Schedule A. They deduct only the medical and dental […]

surprising-tax-havens

Surprising Tax Havens

October 1, 2007

State tax laws discriminate based on age, and that can be a good thing for some taxpayers. Even notoriously high tax states can be tax havens for retirees. In fact, Florida and other retiree magnets might not be the tax havens they are promoted as when the full tax picture is considered. Florida has no […]

avoid-costly-ira-mistakes

How To Avoid Costly IRA Mistakes

August 1, 2006

Though set up to help regular people save, IRAs are fraught with complicated tax rules. Missteps can be made without the owner knowing it until it is too late to correct the problem. The result often is higher taxes and penalties. Sometimes the result is reduced IRA options. Here are some little-known but very common […]

where-to-invest

How to Put Investments in the Right Places?

January 1, 2006

With today’s tricky tax law, the account in which you hold an asset can be as important as which assets you own. Unfortunately, too little attention is paid to the issue of which accounts should hold which investments. Most of us have more than one type of investment account: 401(k)s, traditional IRAs, Roth IRAs, taxable […]

how-to-reduce-the-taxes-due-on-the-sale-of-highly-appreciated-real-estate

How to Reduce the Taxes Due on the Sale of Highly Appreciated Real Estate

October 1, 2005

Many Americans on the coasts or in resort areas are selling homes for far more money than they ever imagined. Their gains often exceed the tax-free limit under federal tax law. In some cases, the home sellers are looking at paying more capital gains taxes than their homes initially cost. There are strategies for reducing […]

how-to-boost-returns-with-year-end-tax-planning

How to Boost Returns with Year-End Tax Planning

September 1, 2005

Don’t wait until later in the year to do year-end investment tax planning. The start of fall is the best time to make and begin implementing your plan. Year-end planning – with accompanying asset sales – will occur later in the year for most people. Mutual funds will do their fiscal year-end sales in late […]

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