Taxes

Getting Divorced? Beware of Hidden Tax Traps as You Divide Assets

Jan 21 2025

Dividing assets fairly in a divorce means looking beyond their current values and asking whether they'll create tax liabilities — or tax breaks — in the future....

kiplinger.com

Divorce

Child Tax Credit, Childcare Tax Credit, and Childcare Flexible Spending Accounts (FSA)

Jan 18 2025

Raising children is ultra-expensive, but there are ways that your kids can save you money when you're paying your income taxes. The post Child Tax Credit, Childcare Tax Credit, and Childcare Flexible ...

whitecoatinvestor.com

Spending

Asset Protection for Affluent Retirees in 2025

Jan 16 2025

Putting together a team of advisers to assist with insurance, taxes and other financial issues can help with security, growth and peace of mind....

kiplinger.com

Insurance

The Tax Stakes for 2025: Planning for All Possibilities

Jan 16 2025

It's unclear whether extending the TCJA provisions for individuals is likely, so what can you do to reduce your overall tax bill either way?...

kiplinger.com

A Strategic Way to Address the Tax-Deferred Disconnect

Jan 16 2025

What you don't know could cost you a fortune. Here's how to make the most of a tax-deferred retirement account and possibly save your heirs a bunch on taxes....

kiplinger.com

Here’s How Social Security, Retirement Planning, and Taxes are Changing in 2025

Jan 16 2025

Happy 2025! At Keen Wealth, we're often of two minds at the beginning of the New Year. On the one hand, Tax Day is just around the corner, so we're helping folks put a bow on last year's financials an...

keenonretirement.libsyn.com

Inbox Questions | Reducing Taxes and Managing RMDs

Jan 16 2025

In this episode, we tackle Kay's questions about managing her IRA and Roth accounts in retirement. With significant assets, no LTC insurance, and children in differing financial circumstances, Kay wan...

sites.libsyn.com

Rmds

Quarterly tax payments in retirement?

Jan 15 2025

This year my wife will retire from her job of 28 years. I will continue to work, likely until December 2025. To replace her income, we will start using dividends coming out of an IRA, probably in the ...

reddit.com

Retirement Spending Is Ridiculously Tax Advantaged

Jan 15 2025

It can be pretty amazing how much income one can have in retirement while paying very little tax at all. Here are 16 examples. The post Retirement Spending Is Ridiculously Tax Advantaged appeared firs...

whitecoatinvestor.com

Spending

Do you need to make estimated tax payments in 2024?

Jan 14 2025

If you receive income such as interest, dividends, alimony, self-employment income, capital gains, or prizes, you may have to make what the IRS terms “estimated tax payments.”...

empower.com

Irrevocable Trusts: So Many Options to Lower Taxes and Protect Assets

Jan 14 2025

Irrevocable trusts offer nearly endless possibilities for high-net-worth individuals to reduce their estate taxes and protect their assets....

kiplinger.com

Trusts

Tax Credits That Should Be On Your Radar

Jan 14 2025

I recently received an email from a reader asking me about the Earned Income Tax Credit. It made me realize, I’ve written little about tax credits. This is an important topic that early retirees...

caniretireyet.com

Three Steps to Simplify Paying Your Taxes in Retirement

Jan 12 2025

Once you retire, how you pay some of your taxes can change. Here's how to get a handle on them so you don't run afoul of the IRS and face penalties....

kiplinger.com

Grow Your Wealth Tax-Free & Retire Sooner: YMYW Best of 2024 - 511

Jan 08 2025

YMYW friends, welcome to 2025. Today on Your Money, Your Wealth® podcast number 511, we’re revisiting your favorite topics of 2024 as Joe Anderson, CFP® and Big Al Clopine, CPA spitball ...

purefinancial.com

Wealth

5 Ways the Second Trump Term Could Affect Your Finances

Jan 05 2025

Income tax cuts are likely to be extended, but electric vehicle tax credits could disappear....

kiplinger.com

Income

Gifting Earlier Rather Than Later Can Reap Big Tax Benefits

Jan 05 2025

Even with Donald Trump's win, the future of the Tax Cuts and Jobs Act remains uncertain, so here's how to make the most of its provisions while you still can....

kiplinger.com

New Social Security Tax Reforms Change Benefits in Two States

Jan 04 2025

As the calendar turns to a new year, some retirees have tax reasons to celebrate....

kiplinger.com

Inbox Questions | When Should You Stop Using TurboTax?

Jan 03 2025

Today, we tackle a question many retirees face: Can you manage your taxes with DIY software like TurboTax, or is it time to bring in a professional? We'll explore the challenges of navigating tax comp...

sites.libsyn.com

Promise to Eliminate Income Tax on Social Security

Jan 02 2025

I'm reaching out to encourage everyone to contact their representatives and support President Trump's proposal to eliminate income taxes on Social Security benefits. Here's why this matters: Key Point...

community.aarp.org

Income

The Rich Stop Paying Social Security Tax Around January 1

Jan 01 2025

In the first few hours of 2025, over 229 U.S. workers earning over $50 million per year will have likely paid all their Social Security taxes for the entire year....

forbes.com

Defusing a Future Tax Bomb With Roth Conversions - 510

Dec 31 2024

Does it make sense for Alex and his wife in Massachusetts to do Roth conversions now to the top of their eventual tax bracket? Steve in San Diego got serious about saving for retirement after Joe and ...

purefinancial.com

Roth

Year-End Tax Strategy: A Child IRA Can Help Reduce Your Tax Liability

Dec 30 2024

If you own a business and have young children, here’s a tip with the potential to transfer wealth to the next generation tax-free....

forbes.com

Ira

Strategy

The Countdown to Tax Increases

Dec 28 2024

The Trump tax cuts are set to expire at the end of next year. And when they do expire, it means nearly everyone – including you – will be paying…...

bossretirement.com

Efficient Retirement Tax Planning with Jeremy Green (Ep. 8)

Dec 28 2024

Are you ready to simplify the complexities of high-net-worth tax planning and maximize your retirement savings? Today, we unveil key strategies with our expert guest, Jeremy Green. In this Retirement&...

bossretirement.com

The Little-Known Stealth Tax That Bites Retirees And Near-Retirees

Dec 23 2024

There’s a Stealth Tax retirees and near-retirees often don’t know about until they inadvertently trigger it, increasing taxes they often could have avoided or reduced....

forbes.com

Closing the Financial Door on 2024

Dec 22 2024

Wrap up 2024 with these essential tasks, tax tips, and investment insights from a seasoned FAANG FIRE pro. Get ready for 2025 with smarter, more strategic finances....

faangfire.com

Fire

Retirement Tax Planning Calculator

Dec 21 2024

My wife and I (61 & 58) have several retirement accounts: Trad 401(k), Trad IRAs, Roth IRA, I-Bonds, and taxable brokerage. We will both have pretty good SS income as well. Planning to retire in 2...

reddit.com

Calculators

Five Year-End Strategies You Can't Afford to Miss

Dec 20 2024

Instead of making New Year's resolutions, consider making some money moves that could help save you big bucks on your taxes....

kiplinger.com

Do As I Say, Not As I Did

Dec 20 2024

What do Arnold Schwarzenegger going vegan, the U.S. advocating for lower carbon emissions, and Warren Buffett calling for higher capital gains taxes all have in common? They are all examples of what I...

ofdollarsanddata.com

What retirees need to know about tax brackets for 2025

Dec 19 2024

Those at or near retirement need to account for slightly higher tax brackets, as well as higher Basic Personal Amount and OAS clawback thresholds, among other changes for 2025. The post What retirees ...

moneysense.ca

Coordinating Bonds, Market Returns, and Taxes into a Personalized Retirement Strategy

Dec 19 2024

One of the reasons my team at Keen Wealth puts so much care into personalizing our comprehensive planning process is that there's no one path to a successful retirement. Yes, we often incorporate some...

keenonretirement.libsyn.com

Strategy

Bonds

Will the TCJA Estate and Gift Tax Provisions Really Sunset?

Dec 18 2024

Will the TCJA Estate and Gift Tax Provisions Really Sunset?...

kiplinger.com

Estate

A Social Security Payroll Tax Increase Should Be Part of the Solution

Dec 18 2024

But the increase should be small and gradual. Enough with politics. It’s time to get back to solving problems. Not surprisingly – given my slant on the world – the problem I care mos...

crr.bc.edu

It's never too late for year-end tax planning

Dec 18 2024

Consider this host of strategies to help clients keep more of what they earn....

financial-planning.com

Do You Need to File a Tax Return This Year?

Dec 16 2024

Depending on your income and other factors, you many not need to file a tax return. However, in some cases you may want to file anyhow. The post Do You Need to File a Tax Return This Year? appeared fi...

financialducksinarow.com

40th anniversary of the social security tax.

Dec 16 2024

It’s been 40 years since the social security tax was imposed back in 1984. And the AARP has done nothing to repeal that tax. That seems like it should have been a year after year priority with e...

community.aarp.org

Super Agers AARP Bulletin >>> Your Money >>> CRUNCH YOUR FUTURE NUMBERS … MISSING Tool: MaxiFi

Dec 16 2024

This article in the November 2024 Bulletin by Richard Eisenberg should mention MaxiFi. It is a wonderful tool to plan withdrawals from pre-tax and post-tax retirement accounts and other financial acco...

community.aarp.org

Retirement planning is more than tax planning

Dec 15 2024

Let me be super clear about 2 things up front: I (68, retired) am very fortunate to have enough saved and invested for my retirement, including maxing my 401k and IRA over 40 years and paying off my h...

reddit.com

The Kiddie Tax

Dec 14 2024

Here's what you need to know about the kiddie tax, how to figure out how much it'll cost, and whether it's required for you to pay. The post The Kiddie Tax appeared first on The White Coat Investor - ...

whitecoatinvestor.com

Trump Proposed Eliminating Social Security Taxes. Here's the Bill That Could Make It Happen.

Dec 14 2024

A bill has been introduced to eliminate taxes on Social Security benefits....

money.usnews.com

473: Retirement Tax Planning: Exploring the Impact of a Republican Trifecta on Your Taxes and Bottom Line

Dec 13 2024

With the 2024 presidential election now behind us, what does that mean for the future of tax policies, tax rates, and their impact on your lifelong savings? In this episode, we discuss: A brief histor...

retirewithpurpose.com

Retirement Abroad? Three Countries With No Inheritance Tax

Dec 12 2024

These 2025 top-retiree-friendly countries have an added benefit: potential tax savings for you and your heirs....

kiplinger.com

Three Possible Tax Impacts for Retirees Under Trump

Dec 12 2024

How might a second Trump term affect your tax bill in retirement — or the inheritance tax bill for your heirs? This pro has three predictions....

kiplinger.com

Estimating Your 2024 Tax Bill

Dec 12 2024

I was annoyed that the online calculator I previously used to estimate my taxes wasn’t updated for 2024 tax data. So I decided to just build one myself. I wanted it to be simple and quickly answ...

faangfire.com

Advanced Direct Indexing With Tax Loss Harvesting Using Frec

Dec 12 2024

Since the first robo-advisors came on the market, I have been “robo-curious”. Robots could manage hundreds of individual positions while creating daily tax loss harvesting opportunities. B...

faangfire.com

The 3 Tax Mistakes That Could Cost You Thousands

Dec 12 2024

Hey FAANG FIRE! I just returned from 7 days in Oahu, Hawaii. All contributing towards my goal of increasing spend on vacation that I mentioned in my last post where I outlined my current spending. We ...

faangfire.com

Mistakes

9 Answers to Boost Tax-Free Roth Retirement Income - 507

Dec 10 2024

Joe Anderson, CFP® and Big Al Clopine, CPA spitball on paying the tax on your Roth conversions on Your Money, Your Wealth® podcast number 507. If you take the money out of your retirement acco...

purefinancial.com

Roth

Income

Case Study: Optimizing Current ACA Subsidies vs. Roth Conversions for Long-Term Tax Planning

Dec 10 2024

Today I have a guest post from personal finance enthusiast Dan Griffin. While Dan is not a practicing financial planner, he passed the CFP exam in 2010 and holds an Executive Certificate in Personal F...

caniretireyet.com

Roth

What Trump’s Tax Policies Mean for Your Retirement

Dec 09 2024

How could Trump’s tax policies impact your retirement plans? In this episode, we break down the potential changes, from tax cuts to shifting brackets, and discuss what they could mean for your s...

sites.libsyn.com