Retirement Watch Lighthouse Logo
Retirement Watch Lighthouse Logo

Income Tax Planning in Retirement

Found 144 Articles.
Get access to our full article archive by subscribing to Retirement Watch and Retirement Watch Spotlight Series.

how-to-maximize-medical-expense-deductions

How to Maximize Medical Expense Deductions

August 1, 2007

Medical expense deductions are the elusive goal of many taxpayers. With higher medical expenses than others, retirees are the taxpayers most likely to be able to deduct their medical expenses. They can maximize those deductions by knowing the rules. The definition of deductible medical expenses is broad. Qualified medical expenses, however, can be deducted only […]

marital-deduction-dos-and-donts

The Estate Tax Marital Deduction – Dos and Don’ts

August 1, 2007

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 […]

trusts-that-save-taxes-and-families

Trusts that Save Taxes and Families

June 1, 2007

The family residence often is one of the most valuable assets in a person’s estate. Despite recent price declines in numerous markets, many people own homes worth far more than they paid for them. The residence often accounts for a significant portion of a person’s net worth. The personal residence can create both estate tax […]

tips-for-effective-financial-planning-with-your-tax-return

Tips for Effective Financial Planning with Your Tax Return

April 1, 2007

Don’t be in a hurry to put away that copy of your income tax return. It can be a great financial planning tool. Study it for a little while, and you might discover ways to adjust your finances that will increase your wealth. Here are a few ideas. Too much income? It is not unusual […]

should-you-choose-a-regular-401-k-or-roth-401-k

Should You Choose a Regular 401 K or Roth 401 K

February 1, 2007

Many employees have a new retirement-saving option, and many more will have that option over the next year or two. Should you take this option? In addition to regular 401(k) plans, employers now can offer Roth 401(k)s. The rules are very simple. There is no tax break for deferring salary into the Roth 401(k); it […]

how-to-make-home-sale-gains-tax-free

How to Make Home Sale Gains Tax Free

February 1, 2007

The tax rules for selling a home are generous, but not generous enough for many homeowners on the coasts and in resort areas. Many of these homeowners have gains that exceed the tax free amount. Knowing the ins and outs of the rules can boost your tax-exempt gains. Owners of more than one home also […]

last-minute-tax-law-extends-deductions

Last-Minute Tax Law Extends Deductions

February 1, 2007

This year more than ever it is advisable to read the instructions carefully and check the IRS’s web site before filing 2006 tax returns. If you use tax preparation software, be sure to download the free updates before completing your returns. Take these precautions because Congress slipped through a new tax law before it adjourned […]

estate planning

How to Make Unlimited Tax-Free Gifts

January 1, 2007

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 […]

December 2021:
Congress Comes for your Retirement Money
A devastating new law has just been enacted, with serious consequences for anyone holding an IRA, pension, or 401(k). Fortunately, there are still steps you can take to sidestep Congress, starting with this ONE SIMPLE MOVE.
X
pixel

Log In

Forgot Password

Search