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Tax Deductions and Retirement

Found 34 Articles.
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how-social-security-can-help-your-spouse

How Social Security Can Help Your Spouse

December 1, 2002

A key issue everyone faces is when to begin Social Security benefits. One aspect of this decision that is easy to overlook is how the choice could affect a spouse’s lifetime income. We’ve discussed when to begin Social Security benefits in past visits, most recently in the May 2002 issue (available in the Archive of […]

the-best-charitable-strategy

The Best Charitable Strategy

November 1, 2002

The greatest charitable giving innovation of the last decade might be the donor-advised fund. These funds actually have been around for some time, but they were concentrated on the local level. Few national funds existed, promotion of the funds was almost non-existent, and no effort was expended to make the funds accessible to most people. […]

Deductions For Diets?

August 1, 2002

The IRS surprised tax advisors and generated a lot of headlines last spring by expanding tax write offs for weight loss programs. In the past, the IRS had ruled that no part of the cost of weight loss programs was deductible. The new ruling reverses that, expanding the medical expenses that are potentially deductible by […]

529 savings plans

An Alternative Estate Planning Strategy for Deducting College Expenses to Save Tax

December 1, 2001

The Holy Grail for many taxpayers is to deduct college expenses paid for a grandchild or a child. With a little planning, you can do just that using a strategy known as the college unitrust. It can make a lot of sense if you have a charitable intent to go along with the desire to […]

tax-breaks-from-retirement-activities

Tax Breaks from Retirement Activities

August 1, 2001

More and more retirees stay active. Some work or start businesses. Some have hobbies. Technology and other changes in the economy make it possible for more and more seniors to pursue avocations. But too many seniors overlook big tax breaks from these activities. Over the years I’ve driven through the horse country of Virginia many […]

health-care-tax-strategies

Health Care Tax Strategies

June 1, 2001

Health care or long-term care can eat up a big part of a retiree’s budget – or the budget of a retiree’s children. Fortunately, the tax law can help pay for a big part of that burden. Deductions for medical expenses seemed to disappear when the rules were changed in 1986. Now, you can deduct […]

Beat Taxes on Social Security Benefits

Beat Taxes On Social Security Benefits

May 1, 2001

The 90% marginal tax bracket is alive and well. Most people believe that such high marginal tax rates ended with the 1981 and 1986 tax cuts. For most taxpayers, they did. But those high marginal tax rates exist today and are reserved for retirees. Many of you who recently completed your federal income tax returns […]

deduct your dream motor home

Deduct Your Dream Motor Home

February 1, 1999

For reasons that escape me, Renee is one of those people who always wanted to get a big motor home and cruise the country. After the weather we’ve seen this year, I imagine a lot of people would like to have a portable home so they could drive to wherever the climate is hospitable. What […]

November 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.
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