Taxes
Showing 50 results of 635
You Don’t Want to Retire in Portugal: Here Are Three Tax Reasons Why
Mar 09 2025
With the NHR benefit retiring and pension taxes increasing, you might rethink your retirement plans in Portugal....
kiplinger.com
An Introduction to Tax-Loss Harvesting for Doctors
Mar 08 2025
Tax loss harvesting is a strategy that can help minimize taxes in your investing plan. In this post, I asked ... Read more...
physicianonfire.com
What kind of CPA for retirement tax advice?
Mar 08 2025
I’m looking to retire at the end of 2026 (hopefully not get retired this year) and just starting to plan the financial stuff. I got wiped out in divorce at 48 so very proud of myself for even be...
reddit.com
Avoiding the Tax Avalanche in Retirement (Ep. 14)
Mar 08 2025
Have you ever wondered just how much of your retirement savings actually belongs to you and how much goes to Uncle Sam? In this episode, Ryan Thacker and Tyson Thacker…...
bossretirement.com
How To Use A Mega Backdoor Roth For The Max Tax-Free Retirement Income
Mar 07 2025
You should check out the mega backdoor Roth tax-planning strategy. The huge life time tax savings can improve the health of your retirement income....
forbes.com
Three Actions to Protect Wealth Transfer Amid Tax Uncertainty
Mar 06 2025
How should families plan to pass on their wealth amid ongoing uncertainty over estate taxes? Even if TCJA provisions are extended, they might still be temporary....
kiplinger.com
Inbox Question | Tax Treatment of Special Needs Trusts: What You Need to Know
Mar 06 2025
This week, we’re diving into a question about the tax treatment of Special Needs Trusts. There are two types—First-Party and Third-Party trusts—but how does each one affect taxes? We...
sites.libsyn.com
Maximize Your Refund: 18 Often-Overlooked Tax Deductions Worth Checking Before Filing
Mar 05 2025
Taxes are one of those things people love to hate. Every year, millions rush through their returns, hoping they don’t owe too much or, better yet, get a decent refund. But in that rush, plenty o...
dadisfire.com
Added withholding on 401k withdrawals a good idea for quarterly tax?
Mar 05 2025
This will be my first full year of retirement. SS, a small FERS annuity, and 401k (TSP). Since I’m not having any Fed withholding on my annuity taken out, my tax guy says I need to be making qua...
reddit.com
The Social Security Fairness Act and Your Taxes: Are You Prepared?
Mar 04 2025
To maximize Social Security Fairness Act benefits, retirees will have to minimize unexpected tax burdens....
kiplinger.com
IRS Free File Update for 2025
Mar 04 2025
Last year I wrote about a valuable but little-known income tax filing option called IRS Free File. With the 2024 tax season upon us, now is a good time to remind readers about the program, and share w...
caniretireyet.com
401(k) Tax Implications: What You Need to Know
Mar 03 2025
When it comes to saving for retirement, it may be not just about how much you save – it may be about how much you get to keep. Understanding 401(k) tax implications may help you maximize your sa...
401kmaneuver.com
How to Invest Like the Rich (and Pay Zero Taxes on Gains)
Mar 02 2025
The wealthy favor private equity and credit (and private placement life insurance) for higher returns with no taxes. If you're worth $1 million, you can, too....
kiplinger.com
Retirement Income Tax and the IRS: What Retirees Need to Know for 2025
Mar 02 2025
Several tax changes are happening that can impact how your retirement income is taxed at federal and state levels....
kiplinger.com
Deferred Sales Trust: An Alternative to a 1031 Exchange
Mar 01 2025
If you're looking for the best tax-efficient way to sell a real estate investment, should you use a deferred sales trust or a 1031 exchange? The post Deferred Sales Trust: An Alternative to a 1031 Exc...
whitecoatinvestor.com
The Golden Window: A Top Tax Strategy for the Right Retirees
Mar 01 2025
Maximize your retirement savings and minimize your tax burdens by taking advantage of the strategic 'Golden Window' before Social Security and RMDs begin....
kiplinger.com
The Most Tax-Friendly Countries for U.S. Retirees
Feb 28 2025
By retiring overseas, U.S. seniors can access low- and even zero-tax environments....
money.usnews.com
Save on Taxes: 19 Smart Ways to Keep More of Your Money
Feb 27 2025
Nobody likes taxes, but most people just accept them without question. The government takes a chunk, and you move on. But if you’re paying more than necessary, that’s on you. A recent Pew ...
dadisfire.com
A Little-Known Tax Buster for Rich Retirees: Zero-Coupon DST
Feb 27 2025
Maybe you've heard of using Delaware statutory trusts to defer taxes on real estate investments, but zero-coupon DSTs take those benefits a step further....
kiplinger.com
When You Need to Pay Taxes on Social Security
Feb 27 2025
Here's how to find out if you'll pay tax on your Social Security benefits....
money.usnews.com
Trump’s Plan to Eliminate Taxes on Social Security Forgets Your Children
Feb 26 2025
A new analysis reveals that the policy change would mainly benefit high-earning retirees or those close to retirement....
kiplinger.com
4 Common and Costly Tax Prep Mistakes That Your Advisor Can Help You Avoid
Feb 26 2025
The words “fun” and “taxes” probably don’t go together in your mind. But, as I mention on today’s episode, they do at Keen Wealth! Helping folks be good stewards of...
keenonretirement.libsyn.com
Can you claim pets on taxes? The truth on the IRS pet tax credit
Feb 25 2025
Is there a pet tax credit? Not currently — but there are specific circumstances in which pet owners can deduct certain pet-related expenses on their taxes....
empower.com
What You Need To Know About Taxes And Gold Profits
Feb 24 2025
Many investors who prospered from gold’s bull market will be surprised by how profits on their gold investments are taxed....
forbes.com
A Tax Strategy Now Helps Make Retirement Less Expensive Later
Feb 24 2025
Knowing what your three tax buckets are and how to move savings from the tax-deferred bucket to the tax-free bucket can make a big difference in retirement....
kiplinger.com
Seven Ways to Reduce Taxes on Social Security Benefits in 2025
Feb 23 2025
Minimizing taxes on Social Security is an essential consideration for many retirees....
kiplinger.com
State Exit Taxes And Other Innovative Way To Tax Former Or Departing Residents
Feb 22 2025
States with net losses of residents are developing innovative and aggressive ways to capture tax revenue from their expatriates, such as the "exit tax."...
forbes.com
How to Avoid These Five Costly Tax Mistakes That Many Retirees Make
Feb 22 2025
Making incorrect assumptions about tax brackets, tax-loss harvesting, charitable giving, estate taxes and more can cost you big-time in retirement....
kiplinger.com
10 Tax Breaks for People Over 50
Feb 21 2025
Growing older qualifies you for a variety of tax perks that aren't available to younger workers....
money.usnews.com
Give Yourself A Gift Instead of Uncle Sam: 18 Smart Tax Tips
Feb 20 2025
Taxes drain your paycheck faster than a bad investment. Most people assume there’s nothing to do but accept it, but that’s exactly how the IRS wants you to think. The tax code is complicat...
dadisfire.com
Trading Off Health Care For Unnecessary Supply Side Tax Cuts
Feb 20 2025
Cuts to vital programs for many seniors like Medicaid and SNAP are in the same bill in the House of Representatives as tax extensions for the wealthiest....
forbes.com
Estate Tax Repeal – Could It Be Real?
Feb 20 2025
Estate tax repeal may happen. What does that mean to your planning? (The answer is not to do nothing). Your will/revocable trust may not work without estate tax formulas....
forbes.com
This Boring Retirement Income Source Has Big Tax Benefits
Feb 20 2025
Don't ignore this retirement income source, especially if you are wealthy or need portfolio diversification....
kiplinger.com
Avoid Tax Trouble: 18 Common Audit Triggers That Could Land You on the IRS Watchlist
Feb 18 2025
Nobody wants a letter from the IRS. Even if your taxes are spotless, there’s always that nagging thought, did you miss something? Did a simple mistake put you on the IRS radar? The Comprehensive...
dadisfire.com
Tax season question, first year
Feb 18 2025
I ended up making some pretty conservative quarterly estimated payments in 2024, and having just filed my returns, I’m getting most of them back. I had a hunch a year ago this would be the case,...
reddit.com
0% Capital Gains Tax vs. Roth Conversion vs.... a Cruise? - 517
Feb 18 2025
Should Nancy in Washington take out a 401(k) loan and invest it in her brokerage account to catch up on saving for her retirement? When Joe and Big Al talk about having a balanced portfolio of various...
purefinancial.com
What Are Frivolous Tax Arguments?
Feb 15 2025
Do you know the difference between tax avoidance and tax evasion? Here's how to avoid frivolous tax arguments that may land you in jail. The post What Are Frivolous Tax Arguments? appeared first on Th...
whitecoatinvestor.com
What the IRS Doesn’t Want You to Know About Your Taxes in Retirement
Feb 15 2025
There are some things the IRS DOESN’T want you to know about your taxes in retirement. And they could needlessly cost you a fortune! Learn more in the latest episode…...
bossretirement.com
Learning the love language of taxes: It’s all in the lingo
Feb 15 2025
Tax language may not be overly romantic, but mastering it could render sweet rewards. Here’s how to flip a 1040 form into a love letter....
empower.com
Don’t Let the IRS Take More Than They Should: 15 Smart Tax Moves W2 Workers Can Use
Feb 14 2025
If I were a high-earning W2 employee, I wouldn’t just accept a massive tax bill as the price of success. No group in America gets taxed harder, and unlike business owners or investors, W2 worker...
dadisfire.com
Hyperfocus on Taxes in Retirement
Feb 13 2025
It seems like most of the seminars I go to have a heavy emphasis on taxes in retirement. I was taught 'don't let the tax tail wag the dog'. Why is this? Is it a marketing scheme to get you to use thei...
reddit.com
20 Basic Tax Rules Most People Get Wrong
Feb 12 2025
Taxes aren’t fun. They aren’t optional either. Most people just file, hope for the best, and move on. The problem? That approach leads to overpaying, sometimes by thousands. The IRS won&rs...
dadisfire.com
Four Potential Tax Changes to Keep Your Eye On
Feb 11 2025
Many taxpayers may be surprised by a larger tax bill if the TCJA isn't extended. Check out these proactive strategies to help mitigate some of the impacts....
kiplinger.com
483: The Future of Tax Rates: How to Keep More of Your Money and Pay Less Taxes with Ed Slott
Feb 10 2025
Today, I'm joined by one of the country's most renowned tax and retirement distribution experts—Ed Slott. Ed is a CPA, best-selling author, and the founder of Ed Slott and Company. He’s al...
retirewithpurpose.com
Retire in Costa Rica With These Three Tax Benefits
Feb 09 2025
Costa Rica may be a good place for retirement if you like the low cost of living and savings for your heirs....
kiplinger.com
? Survey Finds Support for Raising Taxes for Social Security (AARP Article)
Feb 09 2025
FROM THE ARTICLE: Reduction in benefits projected by 2035 unless action is taken to shore up vital program. By Andy Markowitz, AARP. *** There are 93 Comments on the AARP website. Stop by to add yours...
community.aarp.org
The Future of 1031 Exchanges Under Trump Looks Bright
Feb 08 2025
As a real estate investor himself, President Trump appears poised to preserve the tax-deferring power of this strategy. But you still must follow the rules....
kiplinger.com
Tax Cuts for the Middle Class and Retirees: A Win for Your Wallet
Feb 07 2025
OnFebruary 6, 2025, the White House announced a series oftax cuts primarily benefitting the middle class and retirees. Here’s what’s on the table: The administration is calling this thelar...
financialsamurai.com
Receiving a nice chunk of tax free money - what would you do?
Feb 07 2025
Hubs and I are both retired in our 60's and 70's. We owe about $120K on our house at a 2.75% rate. No kids, thus no grandkids. We have several nieces and nephews that we are close to that have been ve...
reddit.com
New bill introduced about taxes on SS income.
Feb 07 2025
Social Security Taxes to Change Under New Bill: Here's Who's Impacted...
community.aarp.org
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About Taxes
Retirement income can be subject to taxes depending on the specific type of retirement account or benefit you receive and your tax bracket. Here are a few examples of common types of retirement income and how they may be taxed:
1. Social Security benefits: Social Security benefits are generally taxable if you have other substantial income in addition to your benefits. The amount of tax you pay on your benefits depends on your taxable income and tax filing status.
2. Traditional Individual Retirement Account (IRA) and 401(k) withdrawals: Withdrawals from traditional IRAs and 401(k)s are generally taxed as ordinary income at your current tax rate.
3. Roth IRA withdrawals: Withdrawals from Roth IRAs are generally tax-free if you are over the age of 59 1/2 and you have held the account for at least five years.
4. Pension income: Pension income may be taxed as ordinary income or as a combination of ordinary income and a return of your contributions, depending on the specific terms of the pension plan.
It's important to be aware of the tax implications of your retirement income and to consider them as you plan for retirement. It may be helpful to consult with a tax professional or financial advisor to understand how your retirement income will be taxed.