Taxes in Retirement
Bob Carlson of Retirement Watch on how to manage your taxes and planning strategies to pay less
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Checklist: Establish a New Domicile
Domicile is a technical legal term. But you need to learn the basics of it. Your income will be taxed by the state in which you are domiciled. The state of your domicile also will require your estate to be probated there and subject to its estate or inheritance taxes. Here are the major steps […]
Checklist: Income Tax Checklist
The simplest tax strategies often are the most effective, and they don’t cost much to implement. They also are the most forgotten and overlooked. But you have to implement them before the year ends. Consider these strategies. Pay IRA fees from a separate, taxable account. It makes a big difference in how much accumulates in […]
Estate Planning Strategies for Navigating the Kiddie Tax
Shifting assets and income to your children and grandchildren can provide many benefits, including tax benefits must be past of your estate planning. That’s why Congress set up hurdles to keep you from enjoying all the potential tax benefits. When planning gifts of investments to your loved ones, be aware of the kiddie tax. This […]
Creating the Retirement Internship
You can enter retirement with more confidence and certainty than most retirees. Retirement planning has many projections, forecasts, and assumptions. In other words, there’s a lot of uncertainty in every retirement plan. In addition to the financial issues, many people retire either uncertain about how they will spend their time or with untested assumptions about […]
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Highlights of the New Tax Law
Congress closed out 2015 by passing the Protecting Americans from Tax Hikes (PATH) Act of 2015. The law addressed the 56 or so tax breaks that expired or expiring. Unlike past years, Congress didn’t simply extend them for a year or two. Instead, some were made permanent and others were extended for more than a […]
Making the Most of Home Equity
The residence usually is one of the most valuable assets retirees own. It also is one of the worst-managed assets. Few people realize the home can be used to increase retirement cash flow or know how to do so efficiently. In the last few visits we discussed reverse mortgages and issues related to moving in […]
Retirees Saved from Sharp Medicare Premium Increases
You might have seen reports over the summer and fall that Medicare premiums for about 30% of beneficiaries would increase 50% or more in 2016. No one has to worry about such substantial increases now, though they will pay the increases over time. The potential increases were due to some quirks in the interplay between […]
New Uses of Reverse Mortgages
Proper use of a reverse mortgage can extend the life of your wealth. Changes were made in reverse mortgages in 2013. The changes allow new strategies, and recent research revealed a few creative ways to use them. Today’s low interest rates also create an opportunity that will disappear when rates rise. Many of you should […]
