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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 431 Articles.
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Check Your Estimated Tax Payments, Withholding

October 16, 2018

This year, it’s especially important for retirees and near-retirees to double- and even triple-check their estimated tax payments and withholding to avoid penalties. Checking your tax prepayments before the end of the year always was important, but it became more important in recent years. I reported in our February 2017 issue that estimated tax underpayment […]

Puerto Rico As A Tax Haven for Wealthy Retirees

September 25, 2018

Puerto Rico became a popular hurricane for some fairly wealthy U.S. residents after Hurricane Maria. This article explains the tax rules and profiles some of the people who decided to take up residence on the island to save a lot of money. To comply with Act 22, Nissman said, it all came down to what […]

State Taxes And Migration of Retirees to Low Tax States

September 11, 2018

Are people leaving high-tax states for low-tax states and will tax reform affect decisions? This paper argues that through 2016 there was a substantial movement of people from high-tax states to lower-tax states and argues that’s likely to continue and perhaps accelerate after tax reform. Interstate migration flows are influenced by many factors, including retirement, […]

7 Tax Mistakes Many Retirees and Pre-retirees Will Make This Year: How to Save Thousands of Dollars by Avoiding Them

September 7, 2018

The Tax Cuts and Jobs Act changed the tax rules for many people. While most of the provisions are beneficial, many people are unaware of some key changes and may end up paying higher taxes than necessary. In the latest online seminar for my Retirement Watch Spotlight Series, I’ll identify the seven tax planning mistakes […]


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The New Kiddie Tax: How It Might Change Gift Giving

August 27, 2018

Before making gifts to children and grandchildren, carefully consider the new kiddie tax. The Tax Cuts and Jobs Act greatly simplified the Kiddie Tax. The tax was imposed in the Tax Reform Act of 1986 on unearned (investment) income of children. The idea was to end income splitting. That was the practice of high-income earners […]

What You Need to Know about the New AMT

August 27, 2018

The Alternative Minimum Tax (AMT) has changed, and it won’t trap nearly as many people as in the past. The AMT is perhaps the original Stealth Tax. When created in 1969 it was targeted at wealthy individuals who used a lot of tax breaks to avoid paying any income tax. But Congress didn’t adjust the […]

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 […]

Which Investment Expenses Are Tax Deductible?

July 26, 2018

As this article explains, after tax reform there aren’t too many investment expenses that are deductible on your individual income tax return. That can be a blow to people who were paying annual fees for financial planning and other investment services. But there are a few investment-related expenses you might be able to deduct. Prior […]

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