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

Income Tax Planning

Related Income Tax Planning Topics

Capital Gains & Investments

Deductions

Showing 86 Articles.
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surprising-tax-havens

Surprising Tax Havens

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 […]

marital-deduction-dos-and-donts

Marital Deduction – Dos and Don’ts

The marital deduction is perhaps the best-known estate tax reducer. It also is among the most misused planning devices. While powerful, the mari-tal deduction also can trigger higher taxes or other headaches. The marital deduction is straightforward. The estate executor totals the value of all assets owned by the deceased to arrive at the gross […]

avoid-costly-ira-mistakes

How To Avoid Costly IRA Mistakes

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?

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 […]

https://www.retirementwatch.com/marital-deduction-dos-and-donts/

Using and Misusing the Marital Deduction

The marital deduction is key to most estate plans of married couples. It can wipe out the entire estate tax liability. But misuse of the marital deduction can create a larger long-term tax bill or cause non-tax problems. Let’s look at how to use the marital deduction and avoid misusing it. The estate tax is […]

key-ira-decisions

Key IRA Decisions for 2005

It’s another year, and many IRA owners have to focus on required minimum distributions (RMDs). The right strategy for these and other aspects of an IRA can make the account last longer. RMDs are mandatory after an owner is age 70 1/2. The rules apply to all qualified retirement plans, though we’ll focus on IRAs […]

how-to-keep-inherited-ira-from-the-irs

How to keep the Inherited IRAs from the IRS?

You work hard to manage your IRAs and set them up just right. One reason is so your heirs will get the maximum benefit from the IRAs. Unfortunately, heirs rarely know what the owner had in mind or what the IRS requires when IRAs are inherited. As a result, the IRS gets thousands of extra […]

new-family-limited-partnership-rulings

New Family Limited Partnership Rulings

Last year a number of estate planners worried that the IRS and the Tax Court nailed shut the door on family limited partnerships. A recent federal appeals court decision recently made clear the door still is open, and it set some guidelines for the successful use of FLPs. Family limited partnerships have been premier estate […]

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