Financial Advice for Retirement, Social Security, IRAs and Estate Planning

Taxes in Retirement

Bob Carlson of Retirement Watch on how to manage your taxes and planning strategies to pay less

Found 185 Articles.
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kiddie-tax-rule-updates

Kiddie Tax Rule Updates

June 1, 2007

Congress changed the Kiddie Tax rules for 2006 and is getting ready to change them again. Each change results in higher taxes for most families if strategies are not changed. Family income splitting has been a valuable tax strategy. A high tax bracket family member, such as a parent or grandparent, gives income producing property […]

trusts-that-save-taxes-and-families

Trusts that Save Taxes and Families

June 1, 2007

The family residence often is one of the most valuable assets in a person’s estate. Despite recent price declines in numerous markets, many people own homes worth far more than they paid for them. The residence often accounts for a significant portion of a person’s net worth. The personal residence can create both estate tax […]

tips-for-effective-financial-planning-with-your-tax-return

Tips for Effective Financial Planning with Your Tax Return

April 1, 2007

Don’t be in a hurry to put away that copy of your income tax return. It can be a great financial planning tool. Study it for a little while, and you might discover ways to adjust your finances that will increase your wealth. Here are a few ideas. Too much income? It is not unusual […]

charitable-gifts-new-rules

Charitable Gifts: New Rules

April 1, 2007

The Pension Protection Act of 2006 changed the rules for deducting charitable contributions. You need to know these rules or contributions that were deductible in the past will not be deductible on your 2007 return. Cash donations. It used to be that for cash contributions of less than $250, you did not need a receipt […]

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should-you-choose-a-regular-401-k-or-roth-401-k

Should You Choose a Regular 401 K or Roth 401 K

February 1, 2007

Many employees have a new retirement-saving option, and many more will have that option over the next year or two. Should you take this option? In addition to regular 401(k) plans, employers now can offer Roth 401(k)s. The rules are very simple. There is no tax break for deferring salary into the Roth 401(k); it […]

how-to-make-home-sale-gains-tax-free

How to Make Home Sale Gains Tax Free

February 1, 2007

The tax rules for selling a home are generous, but not generous enough for many homeowners on the coasts and in resort areas. Many of these homeowners have gains that exceed the tax free amount. Knowing the ins and outs of the rules can boost your tax-exempt gains. Owners of more than one home also […]

last-minute-tax-law-extends-deductions

Last-Minute Tax Law Extends Deductions

February 1, 2007

This year more than ever it is advisable to read the instructions carefully and check the IRS’s web site before filing 2006 tax returns. If you use tax preparation software, be sure to download the free updates before completing your returns. Take these precautions because Congress slipped through a new tax law before it adjourned […]

How-To-Make-Unlimited-Tax-Free-Gifts

How to Make Unlimited Tax-Free Gifts

January 1, 2007

Anyone can make unlimited tax-free gifts. The strategy gets wealth out of your estate, and unlike many other gifts, you can be sure of how the money will be used. The strategy of maximizing tax-free gifts is growing in popularity, especially since the change in Congress makes it unlikely that elimination of the estate tax […]

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