Taxes in Retirement
Bob Carlson of Retirement Watch on how to manage your taxes and planning strategies to pay less
Found 452 Articles.
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Facts and Myths About Social Security
Almost everyone has a Social Security number and is eligible for Social Security benefits. Yet, survey after survey indicates people know little about the program and their benefits. Also, much of what people think they know is wrong. Let’s took a look at some key misunderstandings and oversights about the program. Understand benefit statements. The […]
Closing the Door to Your Greatest Fraud Risk
Your greatest risk of being scammed or having your identity stolen might be one you don’t suspect. The big headlines are generated when information thieves access the databases of major retailers or other well-known businesses. But the headlines are behind the times. Medical records are the latest hot target of information thieves. A medical record […]
Roth Accounts: Not Only for the Young
Roth IRAs aren’t very old, but they al-ready spawned some rules of thumb. The most common rule of thumb for Roth IRA is that they’re for relatively younger people. Unfortunately, this rule of thumb is the result of some good research that is distorted and misapplied. It’s causing many people to not use Roth IRAs […]
A Look at the Highest Income Tax Returns
You can learn a lot from a summary of the 400 tax returns reporting the highest incomes. The IRS recently released those returns for 2010. The information is a little dated, but you still can learn a lot. The key takeaways are that the highest earners receive more than half their income for the year […]
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The Smart, Easy Way of Charitable Giving
Two refrains are quite common among taxpayers as the year draws toward its close. One, of course, is the inquiry for deductions and other strategies that will reduce their tax bills before the end of the year. The second refrain is to ask which charities should receive contributions for the year. There’s a tax planning […]
Beating the Retiree Tax Surprise
The granddaddy of all the stealth taxes continues to thrive, snaring more taxpayers each year. Though designed to hit only the wealthiest taxpayers, it now is imposed on many others, and its prime payers often are those in or near retirement. The Alternative Minimum Tax (AMT) essentially is a second tax system. You compute your […]
Tax-Friendly States for Retirees
Kiplinger’s has sifted through state tax laws and come up with its list of the most tax-friendly states for retirees. You might find surprises. Florida, for example, only comes in 10th. The story also has a link to the 10 worst states for retirees. Be careful when using its list. It only covers how the […]
Staying in the 15% Tax Bracket for Life
Retirees often are blindsided by high tax bills. Retirees are the targets of many of tax increases, though they aren’t explicitly named. Instead, Congress enacts stealth taxes that quietly drain cash from retirees. Fortunately, you can fight back. Retirees have more control over their tax burden and more flexibility than most taxpayers, especially when you […]
