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Tax Deductions and Retirement

Found 35 Articles.
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When You Can Treat Portfolio Management as a Tax-Deductible Business

September 4, 2022

After leaving the career behind, your work isn’t done. You’re now in the business of ensuring there’s steady cash flow to pay your expenses. Or, as I put it, you need to generate your Retirement Paycheck. That leads to a question many people ask: Can I report managing my retirement portfolio as a business on […]

There Has Never Been a Better Time to Donate Part of a Home or Farm

July 28, 2020

Historically low interest rates can generate historic tax benefits. At least one of these tax benefits can be reaped without giving up any cash or property: a charitable contribution of a remainder interest in a home, vacation home, or farm. Ownership of property can be divided into two portions. A lifetime interest, or life estate, […]

You Should Be Planning This Year’s Qualified Charitable Distributions

March 15, 2019

Many people aren’t receiving all the benefits they could from the qualified charitable distribution (QCD), the powerful tax-saving tool for charitably inclined IRA owners older than age 70½. The QCD drifted in and out of the tax law for about a decade, but it finally was made a permanent part of the tax code a […]

Charitable Contribution Deductions Are Different For 2018 Tax Returns

November 20, 2018

Major changes will affect charitable contribution deductions for 2018 tax returns. The first major change is that fewer people will be able to deduct their charitable contributions. To deduct charitable gifts, you have to itemize deductions on Schedule A. Fewer people will be doing that in 2018 and later years because of the higher standard […]

Deducting Mortgage Interest after Tax Reform

July 31, 2018

One of the questions I receive most frequently from Retirement Watch subscribers is how to make estate planning gifts. Let’s take a look at the issues that recur among many readers. Gifts to family members are one of the staples of estate planning. But the tax law has changed, and that’s altered the role of […]

IRS Clarifies That a Lot of Home Equity Mortgage Interest Still Is Deductible

March 26, 2018

The tax code and your bank might disagree on whether or not you have a home equity loan, and the difference could reduce your taxes. The Tax Cuts and Jobs Act eliminated home equity interest deductions on individual tax returns for years after December 31, 2017. It doesn’t matter when the loan was taken out. […]

Saving Your Charitable Contribution Deductions from Tax Reform

February 20, 2018

Many savvy taxpayers will change their charitable giving strategies after the Tax Cuts and Jobs Act. For years I’ve advised that writing checks to charities each year or more frequently is an inefficient way to donate. It’s even less efficient now. The latest tax law made several key changes that can reduce the tax benefits […]


2017 Tax Reform: A Game Changer for Retirement? (Part 2)

February 2, 2018

Editor’s Note:  This week, we’re continuing our deep dive into the Tax Cuts and Jobs Act of 2017.  Click here to get caught up on Part 1 of our story: The 2017 Tax Reform Law and Your Retirement Finances Some readers are asking about the charitable contribution deduction, of which there are a few changes. […]

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