Taxes

How to Cut Your Taxes as Short-Term Interest Rates Come Down

Apr 03 2024

Using after-tax savings to buy an immediate annuity could shift your taxes on income to later years, when you might have expenses that can offset higher taxes....

kiplinger.com

Retiring Abroad? What Expats Need to Know About Taxes

Apr 03 2024

Living or retiring abroad doesn’t absolve you of your responsibility to file a U.S. tax return....

money.usnews.com

Retiring

Four Ways to Give Money Tax-Free to Your Kids When You Die

Mar 31 2024

If you’d prefer that your estate not pay more taxes than necessary, then these strategies are for you....

kiplinger.com

Children

Best Credit Card to Pay Taxes: Is It Worth It?

Mar 29 2024

Nobody likes paying taxes. But being rewarded for your tax payments can certainly ease the bitterness. While many avoid paying ... Read more...

physicianonfire.com

Listener Q&A: Lowering Taxes with IRA Conversions, Understanding RMDs & Gifting Strategies

Mar 27 2024

Check out the latest podcast episode on retirement planning and Social Security by listening on “Apple Podcasts” or “Spotify Podcasts” and watch more retirement planning videos...

keilfp.com

Ira

Rmds

How to Take the Uncertainty of Taxes Off the Table - 474

Mar 26 2024

Jimmy in Wisconsin will have a pension, Social Security, and a seven year retirement shortfall. How should he cover it? Skipper in Texas has some unusual pension options, which makes the most sense fo...

purefinancial.com

Pay ZERO Capital Gains Tax vs Roth Conversions in Retirement: How to Determine Which is Best

Mar 26 2024

Listener Drew asks about a tax strategy for juggling capital gains and Roth conversions. While it can be a complicated question – especially when large accounts are involved – James provid...

buzzsprout.com

Roth

Avoid Surprises: Don’t Procrastinate on Your Taxes

Mar 25 2024

You really should start thinking about next year’s taxes immediately after filing this year’s. Better tax efficiency could save you some serious dough....

kiplinger.com

How to Pay Less Tax on Retirement Account Withdrawals

Mar 21 2024

Avoid penalties and minimize taxes when you pull money out of your 401(k) or IRA....

money.usnews.com

Is this a loophole making contributions to SEP IRAs at age 65 or over?

Mar 21 2024

Is the loophole that one can make contributions at age 65 (or 65+), tax free as expected, and do any of the following with no penalty: a. With drawl the full amount. At any time. And pay tax at your c...

reddit.com

How Retirees Can Minimize the Net Investment Income Tax

Mar 20 2024

One strategy is to consider your filing status, which can affect the net investment income tax (NIIT) that successful retirees pay on certain investment income....

kiplinger.com

Income

Get Help From Property Tax-Aide

Mar 19 2024

AARP program has helped homeowners get nearly $10 million in property tax relief...

aarp.org

Tax-Smart Strategies for Wealth Transfer: Secure Your Family's Future

Mar 19 2024

James responds to listener Jerry’s question about the optimal time to distribute inheritance or charitable gifts: before or after passing away. James walks listeners through four important thing...

buzzsprout.com

Wealth

How To Cut Your Taxes By Putting The Right Assets In Your IRA

Mar 16 2024

Optimum location for assets: IRA, Roth IRA, taxable account...

forbes.com

Ira

Tax troubles coming for IRAs and 401Ks over $200,000

Mar 14 2024

“If you have more than $200,000 in a traditional IRA or 401K, your family could have a big problem coming in retirement,” warns financial advisor Ryan Thacker. “The problem is taxes ...

bossretirement.com

The Surprising Way to Save Social Security (Without Raising Taxes or Cutting Benefits)

Mar 14 2024

Could the solution to saving Social Security be so glaringly obvious that it has been overlooked, or perhaps even ignored, due to political power dynamics? The concern about the insolvency of the Soci...

sites.libsyn.com

5 Ways to Minimize Taxes on Retirement Income

Mar 14 2024

Look for strategies to lower your tax liability during your retirement years....

money.usnews.com

Income

?? 7 Retiree Tax Breaks You Shouldn’t Overlook (AARP Article)

Mar 12 2024

ANYONE USING ANY OF THESE BREAKS? ? I AM NOT, BUT NEED TO! ? FROM THE ARTICLE - SEE ARTICLE FOR MORE. Every bit of tax savings helps. By Lynnley Browning, AARP. Published March 05, 2024. If you’...

community.aarp.org

Tax Season Checklist: 10 Essential Considerations to Review for Your 2023 Return

Mar 07 2024

Tax season is in full swing! You’ve likely either already prepared your tax return or it’s patiently waiting as part of your financial to-do list in the upcoming weeks. Whether you receive...

newretirement.com

Use Pascal’s Wager When You’re Not Sure About Tax Rules

Mar 04 2024

17th-century French mathematician and philosopher Blaise Pascal put forward this reasoning on whether one should believe in God (paraphrasing): You’re not sure whether God exists. If you believe...

thefinancebuff.com

Use IRS Free File to Save Money at Tax Time

Mar 04 2024

With tax season upon us, it seems like a good time to share a resource that can save you hundreds of dollars on tax preparation and filing fees. It’s called IRS Free File, and it’s availab...

caniretireyet.com

What You Need to Know for the 2024 Tax Season

Mar 03 2024

There are tax breaks for electric car purchases, SALT workarounds, benefits for retirees and a new system for eligible taxpayers to file their returns....

nytimes.com

Making Sense of Restricted Stock Units: Terminology, Taxes and More!

Mar 01 2024

Receiving recognition for your hard work is always a great feeling! You’ve got your paychecks rolling in, perhaps a cash bonus here and there, and things are looking good. What else could you po...

newretirement.com

Which Are the Most Tax Friendly States for Retirees 2024?

Feb 29 2024

Looking for a great place to retire? Or, wondering if the state where you live is too expensive? Property values, cost of living and lifestyle issues are all important considerations when figuring out...

newretirement.com

Listener Q&A: Lifetime Tax Savings, Social Security Scenarios, Retirement Spending

Feb 28 2024

Check out Jeremy’s latest podcast on retirement planning by listening on “Apple Podcasts” or “Spotify Podcasts” or read below for more answers to listener questions about...

keilfp.com

How to Set Up a Tax-Efficient Investment Waterfall

Feb 27 2024

As a busy physician, you don’t have a lot of time to spend on carefully optimizing the tax efficiency of ... Read more...

physicianonfire.com

February 2024 Best of the Web

Feb 26 2024

This month’s resources explore the benefits of utilizing tax-deferred accounts as well as the potential upsides and challenges of later converting to Roth. Resources will challenge you to think ...

caniretireyet.com

Roth

Buy a short-term rental in retirement?

Feb 25 2024

Hi, unfortunately I have RMDs coming up and it will boost my retirement income, increase taxes as well as trigger IRMAA. Any recommendations on how to reduce taxable income during retirement? POTENTIA...

reddit.com

Know How To Make A Tax-Free Rollover From 529 Plan To A Roth IRA

Feb 20 2024

A recent law allows tax-free rollovers from 529 plans to Roth IRAs, but there are hurdles to be cleared....

forbes.com

422: Managing Tax Rate Uncertainties & Contribution and Decumulation Strategies with David Hulse, PhD

Feb 19 2024

Today, I’m talking to Dr. David Hulse, recently retired Professor Emeritus at the Von Allmen School of Accountancy and the Martin School of Public Policy at the University of Kentucky. He’...

retirewithpurpose.com

Taxes on Box Spread Trades in TurboTax, H&R Block, FreeTaxUSA

Feb 18 2024

A long box spread trade earns a little more than buying Treasuries or CDs. A short box spread trade gives you a loan at a good rate. If you trade box spreads, whether long or short, you’ll have ...

thefinancebuff.com

Withdrawing from 401K on Social Security When Does Income Tax Start?

Feb 18 2024

I retired at 60 and have been living on savings for a couple of years. Late last year I reached 62 and started receiving my SS benefits. So I'm not worried about paying taxes on my annual income for 2...

reddit.com

Killing 401(k) Tax Benefits Could Help Save Social Security, New Research Shows

Feb 15 2024

Workers would lose a key retirement planning benefit as a tradeoff for funding Social Security....

money.com

Should Congress End Retirement Tax Breaks To Support Social Security?

Feb 14 2024

The public program is a critical source of income for low- and moderate-earners, who get only modest benefits from IRAs or employer-based retirement plans....

forbes.com

Is there a tax “time bomb” hiding in your IRA & 401K?

Feb 13 2024

The U.S. government has made it easy for you to save for retirement in a traditional IRA or 401K. But there’s a hidden risk that most people don’t see until it’s too late. Putting mo...

bossretirement.com

Ira

401k

Don’t Ruin Your FIRE Strategy with International Tax Compliance Issues

Feb 13 2024

Hey FAANG FIRE! Last year, I partnered with Jane Mepham CFP, to help us all better understand the details of “FIRE Planning While on a Work Visa”. I started following Jane after reading he...

andrenader.substack.com

Fire

Strategy

How Much to Save in Tax-Free, Tax-Deferred, and Taxable Accounts? - 468

Feb 13 2024

Are there general guidelines on what percentages of your investment portfolio should be in tax-free accounts like your Roth, tax-deferred accounts like your 401(k), and taxable accounts like your brok...

purefinancial.com

How Much

4 Simple Strategies on How to Reduce Taxes and Maximize Retirement Income

Feb 10 2024

Tax-savvy withdrawals in retirement are often overlooked or ignored by investors. That’s bad news when the Required Minimum Distribution (RMD) comes along and OUCH! As individuals approach retir...

commonfinancialsense.com

Income

Retirement Environment: Urban or rural?

Feb 10 2024

Looking to retire in a year or two and planning to sell my home with stairs in a high tax community for a ranch-style home in an area of lower property taxes. I like the idea of living in the country ...

reddit.com

?? 5 Pros, 4 Cons of Relocating to Florida For Retirement (AARP Article)

Feb 09 2024

5 Reasons to Retire in Florida … and 4 Reasons to Think Twice. Come for the sunshine, low taxes and endless golf, but be prepared for hurricanes, roof rats and tourist hordes. By Bob Niedt. Pub...

community.aarp.org

Tax Talk Made Simple: A Useful Guide Tax Lingo and Strategies

Feb 08 2024

It’s everyone’s favorite time of the year: tax season! Ok…that may be an exaggeration, but either way, it’s likely that you will come across tax terms that may have you scratc...

newretirement.com

If You Want to Retire in 2025, Here's What You Need to Prep Now

Feb 07 2024

Here's how to strategize withdrawals, optimize tax advantages and beat inflation ahead of a 2025 retirement....

money.usnews.com

How Will Your State Tax Your Social Security Benefits?

Feb 05 2024

Many Americans depend on Social Security to make ends meet each month. Where you choose to live in retirement how much taxes you owe on Social Security....

forbes.com

Retirement Preparation Without Tax Preferences? Part 1

Feb 04 2024

Experts say it might be much the same. I say that’s foolish!...

401kspecialistmag.com

SSA Responds to Bill Aiming to Remove Social Security Taxes for Retirees

Feb 04 2024

Social Security Administration Chief Actuary Stephen Goss believes the enactment could…...

401kspecialistmag.com

Tax efficient retirement distributions *LIVE (only) webinar, Monday February 5

Feb 02 2024

Taxes. If you are thinking about how to plan for them while in retirement this **LIVE only webinar might be for you. I see people commenting in our community and others like it, on this topic. A commo...

reddit.com

Start to worry about RMDs now, or wait to be socked with taxes in my 70s?

Feb 02 2024

I am 60 years-old and retired. I have about $800k in [traditional] IRAs and about $700k in brokerage accounts. Should I start drawing on my IRA's now, or should I leave it to grow and draw from my aft...

reddit.com

Rmds

Roth Conversions to Pay Less Tax on Retirement Withdrawals - 466

Jan 31 2024

Should Peter LemonJello, who has high income, and his wife, who is retired with zero income, file their taxes as married filing separately so they can start Roth conversions? What are the tax implicat...

purefinancial.com

Withdrawals

Roth

5 ways to be a tax planning 'rockstar'

Jan 30 2024

From knowing your demographics to understanding RMDs, these are some of the best opportunities for tax planners to demonstrate their value to clients this year....

financial-planning.com