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

Income Tax Planning

Related Income Tax Planning Topics

Capital Gains & Investments

Deductions

Showing 94 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 […]

How-To-Make-Unlimited-Tax-Free-Gifts

How to Make Unlimited Tax-Free Gifts

Anyone can make unlimited tax-free gifts. The strategy gets wealth out of your estate, and unlike many other gifts, you can be sure of how the money will be used. The strategy of maximizing tax-free gifts is growing in popularity, especially since the change in Congress makes it unlikely that elimination of the estate tax […]

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 […]

how-to-maximize-retirement-community-write-offs

How to Maximize Retirement Community Write Offs

Two surprises await many new residents of the popular continuing care retirement communities. These surprises are two tax issues that are different from those the residents are used to. Most of these comprehensive retirement communities provide a combination of residential services and medical care. The communities usually include at least independent living, assisted living, and […]

how-to-find-the-highest-after-tax-yields

How to Find the Highest After-Tax Yields

The highest-yielding investment might not pay you the highest after-tax income. That is because of the different tax rates created by the 2003 tax law. Investors who seek the highest yield following the old rules might have less cash to spend than they could have. Interest from bonds, certificates of deposit, money market funds, real […]

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 […]

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