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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 428 Articles.
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estate planning

New Estate Planning Danger in State Taxes

December 1, 2004

Federal estate taxes are shrinking for many estates. That shifts the focus of savvy estate planners to state death taxes. State death taxes now loom prominently over many estates for several reasons. Before the 2001 tax law, there was a credit against federal estates taxes for state death taxes paid. Because of the credit, the […]

tapping-real-estate-equity-part-2

Tapping Real Estate Equity, Part 2

December 1, 2004

The rapid real estate appreciation of recent years endowed many families with substantial real estate wealth but not enough cash. Real estate appreciation does not produce cash. But it does result in higher property taxes, and there are maintenance expenses to pay. Some families also are disappointed with having paper wealth that cannot be spent […]

little-known-new-tax-laws

Little-Known New Tax Laws

December 1, 2004

The American Jobs Creation Act is a major tax law enacted quietly just before the elections. While primarily a corporate tax law, several provisions affect individuals and small businesses. Sales tax. In 2004 and 2005, individual taxpayers who itemize deductions have the option of deducting either state and local sales taxes or state and local […]

estate planning

Tapping that New Real Estate Wealth for Estate Planning

November 1, 2004

Managing the equity in appreciated homes and second homes has become a pleasant and unexpected challenge for many. Especially on the coasts, residential real estate values soared the last five years. Suddenly owners, especially long-time owners, have properties that are more valuable than they imagined. For many families, real estate wealth exceeds the value of […]

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how-to-reduce-taxes-by-passing-up-some-deductions

How to Reduce Taxes by Passing Up Some Deductions

November 1, 2004

In early October, Congress voted to extend for another year the higher exemption amounts for the AMT that were enacted in the 2003 tax law. The exemptions were to expire at the end of 2004. Yet, many of you still are likely to be snared by the AMT. You need to carefully review your finances […]

how-to-keep-inherited-ira-from-the-irs

How to keep the Inherited IRAs from the IRS?

October 1, 2004

You work hard to manage your IRAs and set them up just right. One reason is so your heirs will get the maximum benefit from the IRAs. Unfortunately, heirs rarely know what the owner had in mind or what the IRS requires when IRAs are inherited. As a result, the IRS gets thousands of extra […]

IRS-exemptions

Exemptions to the 60 Day Transfer Rule by IRS

July 1, 2004

Money can be moved from a retirement plan to an IRA or from one IRA to another. The trick is that the transfer must be completed within 60 days. If the transfer isn’t completed, or the money isn’t returned to the original account, within 60 days the account owner must include the entire amount in […]

estate planning

Shrewd Family Gift Giving for Estate Planning

June 1, 2004

Don’t wait until the end of the year to plan gifts to family members. Annual gifts are an important part of many estate plans, but most people don’t handle gifts the best way. Planning gifts now will increase the amount of wealth that is transferred tax-free to your heirs. The goals of gift-giving are to […]

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