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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Reducing Taxes on Mutual Funds
Mutual funds seem easy, and most investors believe they understand funds. But the income tax rules for funds are more involved than many people realize. Knowing the nuances of the rules is important. Taking different actions or changing their timing could improve your after-tax returns by a significant amount and preserve more of your nest […]
Surprising Facts About Social Security
Over the years, from time to time I wrote about maximizing Social Security retirement benefits. Those pieces didn’t receive much of a reaction. More recently, Social Security strategies draw a lot of attention, presumably because of the large number of people now at or approaching traditional retirement age. There are recurring questions and issues that […]
Fixing Social Security Mistakes
Most people start receiving Social Security benefits at the wrong time. Beginning Social Security retirement benefits early can cost you and your family tens of thousands of dollars of income compounded over your lifetimes. A significant percentage begins receiving benefits when they first are eligible at age 62. Only a small percentage waits until age […]
Using Charitable Gifts to Increase Your Income
Charitable gifts can help many people. Of course, they help the beneficiaries of charities. Well-planned gifts also can help the donor by reducing in-come taxes and by providing a stream of income from an asset that previously generated no income. There are several charitable giving strategies that help donors generate income from their gifts. Each […]
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Combining Charity with IRA Conversions to Increase Wealth
Charitable contribution strategies can help generate lifetime income and also pay for an IRA conversion. Suppose you have a large traditional IRA you’d like to convert into a Roth IRA. You want to avoid those large required minimum distributions after age 70½ and help you or your heirs receive tax-free income in the future. If […]
Trusts to Beat State Taxes
People with income and wealth are more concerned these days with beating state taxes than federal taxes. That is especially trust for residents of states such as New York and California with very high tax rates. This Bloomberg.com piece shows how people who are considering asset sales, especially of businesses, are moving assets to trusts […]
Year-End Tax Planning for 2013-2014
We can do real year-end tax planning this year. In the last few years, year-end planning has been difficult because so many provisions of the law were set to expire at the end of each year, and Congress worked on the law through the holiday seasons. But with most provisions of the tax law settled […]
Snagging Tax Credits for Home Improvements
Don’t forget that the tax credits for energy efficiency home improvements still are available for purchases through the end of 2013. These credits were part of the stimulus in the financial crisis and have been extended, but they’ll expire for purchases after Dec. 31, 2013. A wide range of home improvements or replacements qualifies for […]
