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The old tax shelter industry promised something it couldn’t deliver: Tax breaks followed by a stream of income. Those limited partnerships never seemed to deliver the income, and some of the tax breaks were disallowed. But there is a strategy that will deliver current tax breaks with lifetime income, and it is tailor-made for retirees. […]
There’s a special tax shelter available only to owners of corporations. The shelter allows you to make a substantial contribution to charity using your corporation’s money, take the deduction on your own tax return, and avoid capital gains taxes on your stock profits. To make this deal work, you have to plan carefully and execute […]
The tax law can make the simplest decisions difficult. For example, which investments should be put in your tax deferred accounts, and which in your taxable accounts? The answers might not be what you think. A little over a year ago I challenged the conventional wisdom on how best to split your investments between taxable […]
I keep scratching for traps in the new Roth IRAs. Surely Congress and the President wouldn’t create a vehicle with a genuine incentive to save and invest, I cynically think. But it is tough to find a major trap in the Roth IRA. In fact, there seem to be many attractive ways to use Roth […]
If the people I know are any indication, many of you are supporting more than one generation of your family, or anticipate doing so in the near future. You might be supporting family members who were independent for years. Perhaps one or more of your parents or siblings needs help now. Or one of your […]
The only “job” most retirees have is managing their portfolios. It probably is one of the most important jobs you’ve ever held. The portfolio has to help meet expenses for the rest of your lifetime, and it will be part of any legacy you leave. If you are like most retirees and pre-retirees, there is […]