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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 447 Articles.
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Deducting Medical Expenses

January 1, 2012

Many people believe that they’re no longer able to deduct medical expenses. They don’t even track their expenses or enter them on their income tax returns. That can be a costly mistake. Medical insurance covers fewer expenses each year, and more people would save taxes by deducting medical expenses than realize it. Congress did make […]

Estate Planning

New Estate Tax & Social Security Rules, Limits

December 1, 2011

Inflation and other factors triggered some tax and benefit changes for 2012 announced recently by the IRS and Social Security Administration. The exempt amount for estates and gifts increases because of inflation. The estate of anyone dying in 2012 excludes up to $5.12 million from federal estate taxes. The annual gift tax exclusion remains at […]

Planning Year-End Taxes

December 1, 2011

You finally can do serious year-end tax planning in 2011. Year-end planning was difficult the last few years, because so much of the tax code was up in the air. But the December 2010 deal made the tax code fairly certain for 2011 and 2012. That’s important, because tax planning requires looking at two years […]

Using Low Interest Rates to Cut Your Taxes

November 1, 2011

Low interest rates put a crimp in your investment income, but they can help reduce your income, estate, and gift taxes. Treasury rates and mortgage rates recently hit record lows, and that means the rates the IRS uses to calculate taxes on different strategies also were at all-time lows. Around the middle of each month […]

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Taking Advantage of Market Declines

October 1, 2011

The silver lining in the recent market declines is you might be able to use tax strategies to recover some losses. We’ve been fortunate that the losses in our recommended in-vestments have been very modest. But you probably own assets beyond our recommended portfolios, and might have losses from a recommended investment if you bought […]

Still Taking Advantage of the 0% Tax Rate

July 1, 2011

The 0% tax rate still is in effect. Created for select taxpayers for 2008-2010, it was extended with other tax breaks in the December 2010 tax deal in Washington. The 0% tax rate applies to long-term capital gains and qualified corporate dividends earned by those in the two lowest income tax brackets. For other taxpayers […]

Updating State and Local Tax Burdens

May 1, 2011

State tax codes are being shaken up, and that could shake up your retirement plans. State and local taxes are growing in absolute terms and relative to federal taxes. Total taxes paid are among the top three expenses for many retirees, and the share of state and local taxes is rising. We review the state […]

Reducing Taxes for 2010 and Later

April 1, 2011

Here are some tax tips that can help with your 2010 income tax returns and your planning for 2011 and later. Those in Medicare Part D prescription drug plans probably know that under the Affordable Health Care Act the coverage gap, or doughnut hole, is being phased out. In 2010, members whose prescription drug costs […]


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