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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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Are You Using the Wrong Tax Rate in Your Retirement Planning?

November 21, 2021

[Publisher Note: You’ll notice at the end of today’s story a link – and a very important one, at that. On this page is a special rebroadcast of Monday’s Retirement Watch member conference call… in which Bob and special guest David Phillips predict what Congress will do in 2022 and what it could mean for […]

Many People Use the Wrong Tax Rate in Their Retirement Planning

October 21, 2021

Many people do their tax planning wrong and give the IRS more money than they truly need to pay. Often, that’s because they use the wrong tax rate in their planning. Determining the right tax rate to use can be especially tricky for retirees and near-retirees. Most people consider their tax rate to be the […]

New Tax Rule #1: Say Good-Bye to Tax Deferral

September 29, 2021

It is hard to abandon longstanding rules of thumb. But sometimes, circumstances change, and it’s necessary to change our thinking if we want to maximize after-tax wealth. Perhaps the oldest rule in the tax-planning book is to defer taxes whenever possible. “Don’t pay a tax until you have to” is one of the first planning […]

The Legacy Benefits of Health Savings Accounts

August 31, 2021

The main benefits of health savings accounts (HSAs) are delivered during your lifetime, as I discussed in last month’s issue. Another benefit is that an HSA also can build a legacy, so it should be carefully considered as part of your estate plan. An HSA is not a use-it-or-lose-it account. You can name a beneficiary […]

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When You Can Take Tax Breaks for Long-Term Care Expenses

August 31, 2021

Long-term care costs you less when all or part of the expenses are tax deductible. Know the rules about deducting long-term care (LTC) expenses and your out-of-pocket cost of providing care for yourself or family members could be reduced. LTC expenses are tax deductible only when they aren’t reimbursed by insurance or other sources. To […]

The Seven Best 2021 Tax-Saving Ideas for Retirees and Pre-Retirees

August 13, 2021

One of the great myths about retirement is that your taxes and tax rates are likely to decline after you retire. For many people, taxes and tax rates either stay the same or increase in retirement. Higher taxes for retirees are more likely to occur in the coming years because leaders in the nation’s capital […]

How To Avoid the ‘Double Tax’ on Your Retirement Benefits

August 2, 2021

As you know, IRAs and other retirement plans are included in the estate of the owner… And subject to federal estate taxes — when the estate is valuable enough. Here’s what many people don’t know: Unlike other assets, the tax basis of IRAs is not increased to current fair market value by those who inherit […]

The Power of Health Savings Accounts for Retirement Planning

July 20, 2021

The number of health savings accounts (HSAs) is soaring, but most account holders fail to take full advantage of the retirement planning power of HSAs. There were more than 30 million HSAs holding about $82.2 billion at the end of 2020, according to an estimate from Devenir, a firm that offers investment services to health-based […]

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