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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 415 Articles.
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tax-breaks-from-retirement-activities

Tax Breaks from Retirement Activities

August 1, 2001

More and more retirees stay active. Some work or start businesses. Some have hobbies. Technology and other changes in the economy make it possible for more and more seniors to pursue avocations. But too many seniors overlook big tax breaks from these activities. Over the years I’ve driven through the horse country of Virginia many […]

how-to-boost-insurance-tax-benefits

How to Boost Insurance Tax Benefits

July 1, 2001

Insurance products can be great tax shelters. Annuities and cash value life insurance have tax breaks sanctioned by Congress. But a price of the benefits is that there are a number of tax traps. It is easy to fall into one of these traps, and the result can be expensive. Even worse, an entire estate […]

health-care-tax-strategies

Health Care Tax Strategies

June 1, 2001

Health care or long-term care can eat up a big part of a retiree’s budget – or the budget of a retiree’s children. Fortunately, the tax law can help pay for a big part of that burden. Deductions for medical expenses seemed to disappear when the rules were changed in 1986. Now, you can deduct […]

Beat Taxes on Social Security Benefits

Beat Taxes On Social Security Benefits

May 1, 2001

The 90% marginal tax bracket is alive and well. Most people believe that such high marginal tax rates ended with the 1981 and 1986 tax cuts. For most taxpayers, they did. But those high marginal tax rates exist today and are reserved for retirees. Many of you who recently completed your federal income tax returns […]

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7 Estate Planning Guidelines For Using The Kiddie Tax To Maximize Family Wealth

May 1, 2001

You’re smart to be saving money for your children’s or grandchildren’s future. You can be even smarter. By paying a little attention to which assets you put in each family member’s name during Estate Planning, you can use the tax law to dramatically reduce the family’s tax bite on this money. The kiddie tax allows […]

should-i-empty-my-ira-early

Should I Empty My IRA Early?

April 1, 2001

It is not always a good idea to keep money in an IRA as long as possible. In most cases, it makes sense to let income and gains compound tax deferred for many years. But that can change as you get older. You might benefit by taking more money out of an IRA than you […]

Fresh Start for Your IRAs

Fresh Start For Your IRAs

March 1, 2001

The IRS recently created a tremendous opportunity to improve your financial and estate planning. In a surprise to everyone, the IRS in early January issued new rules for taking required minimum distributions (RMDs) from IRAs and other qualified retirement plans after age 70 1/2. The previous rules, described in detail in my Retirement Tax Guide, […]

Taxable vs. Tax-Deferred Accounts

Taxable vs. Tax-Deferred Accounts

February 1, 2001

Most of you invest through both tax-deferred accounts (such as IRAs) and taxable accounts. You also own both stock and bond investments. To maximize after-tax returns, you want to know which investments should be primarily in the taxable accounts and which in the tax-deferred accounts. First, don’t let the taxes drive your portfolio allocation. Decide […]

July 2022:
Congress Comes for your Retirement Money
A devastating new law has just been enacted, with serious consequences for anyone holding an IRA, pension, or 401(k). Fortunately, there are still steps you can take to sidestep Congress, starting with this ONE SIMPLE MOVE.
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