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Taxes in Retirement

Bob Carlson of Retirement Watch on how to manage your taxes and planning strategies to pay less

Found 428 Articles.
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The Estimated Tax Trap “Snagging” More & More Retirees

April 8, 2019

A growing number of taxpayers, especially retirees, are being caught in the estimated tax trap. When income taxes aren’t withheld, taxpayers have to prepay their federal income taxes in four estimated tax payments. The payments are due on April 15, June 15, September 15 and January 15 (unless the due date falls on a holiday […]

How To Stay In The 0% Tax Bracket For Capital Gains And Dividends

March 15, 2019

You can have a significant amount of income and yet pay no income taxes on your long-term capital gains and qualified dividends. Most retirees and many other individuals shouldn’t have to pay income taxes on those types of income. The key is to know about the tax brackets and when tax rates change for long-term […]

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 […]

Get a Jump Start on Your 2019 Income Taxes

March 7, 2019

The 2018 tax bills are surprising many people, especially retirees. Some paid less than they expected because of the 2017 tax law, but others were disappointed with their savings or paid higher taxes. Don’t be surprised or disappointed by your 2019 income tax bill. The best way to avoid tax surprises is to begin planning […]

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Yes, Your IRA Could Be Taxed, Even a Roth IRA

March 7, 2019

Years ago, a pension plan acquired an interest in a spaghetti factory. A consequence of that episode is your IRA might owe income taxes on some of its investment income. Other spaghetti manufacturers said it wasn’t fair they had to compete with a business owner who was tax-exempt. Eventually, Congress agreed and enacted the unrelated […]

You Can Beat The Tax on Social Security Benefits

January 24, 2019

The federal tax rules for Social Security benefits haven’t changed in many years. They remain complicated and snare more retirees each year. A number of my readers are old enough to remember when Social Security retirement benefits were tax free on their federal income tax returns. That ended in the 1980s, and taxes on the […]

How to Trim Taxes and Maximize Benefits from RMDs

January 2, 2019

Last week, I shared   4 ways to trim taxes, and maximize required minimum distribution (RMD) benefits. This week, let’s continue the discussion, with 5 more strategies to consider, starting with.. Timing distributions. The tax law says the IRA must distribute at least the RMD by the close of business on Dec. 31. Other than […]


9 Required Minimum Distribution (RMD) Strategies Every Retiree Should Know

December 27, 2018

Every retiree wants to trim taxes, and maximize benefits. But very few know how to approach this the right way. Today, I’ll share how you can maximize your benefits from Required Minimum Distributions (RMDs), and reduce your tax bill. Required minimum distributions from IRAs weren’t simplified or changed in the new tax law. Taxpayers ages […]

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