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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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how-to-maximize-retirement-community-deductions

How to Maximize Retirement Community Deductions

April 1, 2004

A portion of long-term care expenses are deductible as medical expenses. The question taxpayers often ask is what portion of the fees paid to retiree communities, such as assisted living facilities or nursing homes, can be deducted. The Tax Court recently stepped into this issue and set some new rules. When someone enters a nursing […]

the-overlooked-triple-tax-saving-tactic

The Overlooked Triple Tax-Saving Estate Planning Tactic

March 1, 2004

Estate planners agree that one of the most underused strategies is the charitable remainder trust. That might change. New trends are making CRTs more attractive. Taxpayers with appreciated property should take a fresh look at CRTs as part of their retirement and Estate Planning strategies. In a CRT, an individual transfers appreciated property to the […]

special-tricks-for-tax-season

Special Tricks for Tax Season

March 1, 2004

Most of us need to get set for an unusual tax filing year. The recent tax laws, phased-in provisions, and other factors will keep you on your toes. Prepare for amended returns. Brokerage firms asked the IRS for permission to issue their Form 1099-DIVs a month late.  They have to determine which dividends qualify for […]

how-old-are-you

How Old Are You?

March 1, 2004

Your birthday isn’t always the day you get older, according to the IRS and other government agencies. You have to check closely to be sure how old you are. Most of the time your birthday is your birthday. But the Social Security Administration and some other government agencies use what is called the common law […]

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estate planning

Estate Planning Strategies: How to Cut Estate Taxes by Selling Assets

February 1, 2004

Reduce estate and gift taxes by selling assets? You can do it, and picking the right strategy will provide more benefits for your heirs. Now is a good time to consider an asset sale, even an unusually good time. A sale freezes the estate’s value at the current price of the assets. With a recovering […]

Better Ways to Be Charitable

December 1, 2003

It is the charitable giving season, and the tax code is here to help you. Most folks will write checks of after-tax dollars to their favorite charities. A few shrewd taxpayers, however, will give in different ways, enabling them to get higher tax write offs and to provide more help to the charities. Before making […]

how-to-slash-mutual-fund-taxes

How to Slash Mutual Fund Taxes

November 1, 2003

Mutual fund shareholders got a big boost to their bottom lines this year when the top tax rates on long-term capital gains and on dividends were reduced to 15%. Fund investors can get further tax reductions by carefully planning and reporting sales of fund shares. Here are steps to consider before year end. Don’t always […]

flexible-spending-accounts-tax-benefit

Flexible Spending Accounts Tax Benefit

November 1, 2003

Taxpayers with flexible spending accounts might see their after-tax medical costs decline. The IRS recently announced that the cost of nonprescription drugs can be reimbursed by flexible spending accounts. Flexible spending accounts reimburse account holders for medical costs that are not covered by insurance. An employee has a portion of salary deposited into the account, […]

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