Taxes in Retirement
Bob Carlson of Retirement Watch on how to manage your taxes and planning strategies to pay less
Found 456 Articles.
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Selling Now to Avoid Higher Taxes Later?
Income taxes are going to increase. That’s the message coming from Washington. We don’t know which taxes will increase or by how much, but there seems to be strong majority support for higher taxes. Rising federal spending also makes higher taxes more likely. At a minimum, it appears the 2003 tax cuts will expire at […]
Avoiding State Tax Hike Surprises
Most of the headlines are about federal taxes, but you need to stay follow state and local taxes. This is where the big changes are being made, and they could be big enough to change where you want to live in retirement – or change your retirement spending plan. The recession put many state and […]
Preparing for the New Tax Forms
Be prepared for a more complicated tax return for 2009, even if you have an uncomplicated tax situation. New forms, triggered by new tax breaks and rules, mean few people will have simple, straightforward returns. One major change is a new Schedule L, which in its draft form had 21 steps. Schedule L will be […]
Windfall for Retirees on the Move
Congress created a financial windfall for retirees and those near retirement. When it extended the first-time home buyer’s credit in November it also greatly expanded the credit. The $8,000 credit for first-time buyers (and those who haven’t owned a home for at least three years before the closing) was extended, and a new $6,500 credit […]
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Taxing Gains on Gold ETFs
The IRS continues to issue positions on exchange-traded funds that hold gold and other precious metals. Previously we reported good news for investors who owned gold ETFs in IRAs and other retirement accounts. The standard rules are retirement accounts are not allowed to purchase collectibles, and precious metals are collectibles. But the IRS ruled privately […]
Taking Advantage of the 0% Tax Rate
There still is time to take advantage of the 0% tax rate. This special tax benefit was put in effect for select taxpayers in 2008, 2009, and 2010 for their long-term capital gains and qualified dividends. Even if you are a higher-bracket taxpayer, you may be able to benefit from the 0% rate. The 0% […]
PLanning Your Financial Makeover
Only a few years ago most of us could let some financial details and tasks slip through the cracks. The economy and investment markets were doing so well most of us could afford to miss opportunities to save money or increase wealth. That is not the case today. Interest rates are low and even after […]
Year-End Tax Planning is Different This Year
Year-end tax planning will be unique and tricky this year. The usual year-end strategies are complicated by the potential for significant tax increases over the next couple of years and the lack of details we have today. In addition, the incentive to convert traditional IRAs into Roth IRAs in 2010 provides a fresh wrinkle, which […]
