Taxes

Who knows anything about IMF in Australia?

Jan 24 2024

Looking to Minimise my tax submitted by /u/IamBrilliant_4170[visit reddit] [comments]...

reddit.com

Marginal Tax Rates vs Effective Tax Rates: What’s the Difference?

Jan 23 2024

Tax brackets are one of the most misunderstood concepts in taxes. You’ve probably heard people say (or said it yourself) ... Read more...

physicianonfire.com

Income Tax On Social Security Benefits

Jan 23 2024

As we approach April 15, let’s discuss the federal taxation of Social Security benefits. Taxable benefits include retirement & spousal, survivor, and disability benefits....

forbes.com

Income

What's the Right Roth Conversion Amount to Avoid a Tax Nightmare in the Future?

Jan 23 2024

Sammy, a 51-year-old retiree, is seeking advice on how much she should convert from her traditional IRA to a Roth IRA each year to avoid jumping tax brackets and minimize the taxation of her social se...

buzzsprout.com

Roth

Why the ubiquitous & loud obsession over taxes when retirement income is lower?

Jan 23 2024

Having had some good fortune while working, especially in my last three years, my estimated retirement income is ~72% less than while working. Accordingly, my income tax rates should also plummet as w...

reddit.com

Income

Retirement Tips for 2024 From Five Retirement Experts

Jan 20 2024

From Rothifying IRAs to navigating changing tax laws, these fiduciary advisers share the recommendations they’re making to their clients this year....

kiplinger.com

Tax Savings for Medical Residents

Jan 18 2024

[Editor's Note: The Financially Empowered Women (The FEW), a newly created WCI community that supports women on their path to financial success, will make its 2024 debut next Wednesday, January 17, an...

whitecoatinvestor.com

Higher Social Security Benefits May Mean A Tax Bill For Seniors This Year

Jan 16 2024

Seniors saw a boost in Social Security benefits in 2023. But there's a downside—the increase may result in a higher tax bill this tax season for some taxpayers....

forbes.com

Tax Strategies, Backdoor Roth, Buy vs. Rent - 464

Jan 16 2024

It’s a voice message extravaganza as Joe and Big Al talk about tax gain harvesting on Dante in New York’s daughter’s custodial account, and the tax impacts of Leon in Chicago investi...

purefinancial.com

Roth

How Does It Work When You Get Paid 1099?

Jan 09 2024

Working as an independent contractor offers significant freedom, but if it’s your first year doing so, it can come with some serious headaches if you haven’t paid attention to your taxes. ...

thomaskopelman.com

Tax Deductions for Property Damage from Disaster

Jan 08 2024

Image via Wikipedia If violent weather has caused damage to your property, you may be able deduct a part of the cost of the damage from your taxes, if the event was a federally-declared disaster. You ...

financialducksinarow.com

Solo 401(k) Plans Eligible for Up to $1,500 in Tax Credits

Jan 04 2024

SECURE 2.0 auto-enrollment tax credit provides “substantial incentive” for self-employed…...

401kspecialistmag.com

New IRS Ruling: Can’t Modify A Trust To Add A Tax Reimbursement Clause

Jan 03 2024

A new IRS ruling, CCA 202352018, holds that if you modify a trust to add a tax reimbursement clause the beneficiaries will be deemed to have made a gift....

forbes.com

Which States Tax Social Security Benefits? Missouri, Nebraska Change Rules

Jan 03 2024

Learn all about Medicare plans and costs for different parts of the plan with Money's expert guide....

money.com

200 People Already Paid Their Social Security Taxes: Happy New Year!

Jan 02 2024

Elon Musk earned $160,200 in about 4 minutes. In the first few hours of 2024, over 220 U.S. workers will have likely paid their Social Security taxes for the entire year. In contrast, over 160 million...

forbes.com

Encore: The Retirement Tax Torpedo

Jan 02 2024

The calculation the IRS uses to determine how you pay taxes on retirement income creates this danger zone where taxes can be SIGNIFICANTLY amplified. And if you fall into this danger zone, you could p...

sites.libsyn.com

Will the 2024 Elections Impact Your Retirement?

Dec 27 2023

Check out Jeremy’s latest podcast on retirement planning by listening on “Apple Podcasts” or “Spotify Podcasts” or read below about Navigating Elections, Tax Changes, and...

keilfp.com

4 Smart Money Moves in 2024 That Could Make Your Money Go Further in Retirement!

Dec 26 2023

If you’re interested in learning about effective strategies to help you pay fewer taxes, generate income, minimize risk, and protect yourself from inflation in retirement… then don’...

bossretirement.com

What America’s Retirement Downgrade Means To You!

Dec 26 2023

Tax increases, stubborn inflation, skyrocketing healthcare costs… And Social Security’s running out of money. It’s no wonder America’s retirement system just got downgraded. H...

bossretirement.com

Charity — How to Give, Why to Give, and the Tax Benefits You Can Receive

Dec 25 2023

By Dr. Jim Dahle, WCI Founder Giving money away can be an important part of the financial life of high earners like white coat investors. It can help the recipient and the giver, and we're not just ta...

whitecoatinvestor.com

Charity

Qualified Dividends and Capital Gains Stack on Top on Your Tax Return

Dec 25 2023

[Editor's Note: Since 2020, one of the big annual WCI goals is to put The White Coat Investor's Guide for Students book into the hands of as many students in the medical field as we can. For free. The...

whitecoatinvestor.com

Dividends

10 Step Year-End Financial Checklist for Physicians

Dec 23 2023

As we wrap up 2023, it’s the perfect time to evaluate our finances, including taxes, investments, retirement, savings, and estate ... Read more...

physicianonfire.com

Estate

Reminder for last minute tax or investment items

Dec 22 2023

Public Service Announcement ? Doing a Roth conversion for 2023 ? Must be done by the end of THIS month, Dec 29 (yes deadlines for contributing to a Roth IRA versus doing a Roth IRA conversion for the ...

reddit.com

What do you do about complicated financial things when you are really old?

Dec 21 2023

I retired at age 57 last year. Nowadays I have fiduciary financial advisors to help me navigate all the complexities of being a person that has to file quarterly taxes and figure out how to best move ...

reddit.com

Tax Savings Strategies for 2023 to Maximize Your Refund

Dec 20 2023

[168] – There are only 10 days left in the tax year. What can you do right now to maximize your refund? In this episode, Jeremy Keil discusses strategies for maximizing tax refunds and retiremen...

keilfp.com

Proposed Billionaire ($100 Million) Tax: Is It Just The First Step?

Dec 19 2023

Proposed Billionaire's tax will radically alter income and estate taxes and planning for wealthiest. It may apply at $100 million level of wealth....

forbes.com

You Can Still Cut Your 2023 Tax Bill With These Moves

Dec 18 2023

Fund retirement accounts. Give to charity. Harvest losses. Get energy efficient. Here are some strategies to shrink your taxes for 2023–and beyond....

forbes.com

Avoid These Tax Preparation Mistakes with Randy Crabtree

Dec 13 2023

Check out Jeremy’s latest podcast on retirement planning by listening on “Apple Podcasts” or “Spotify Podcasts” or read below for How to Improve Your Relationship With Yo...

keilfp.com

Mistakes

Encore: Tax Loss (and Gain!) Harvesting with Andy Panko

Dec 11 2023

Another special encore episode just in time for year end. Managing taxes in retirement may have a greater impact than any other single cost-saving measure you take. Today, we're replaying our epsiode ...

sites.libsyn.com

How the 2024 Social Security COLA May Impact Retiree Tax Bills

Dec 11 2023

Understand how Social Security payments are adjusted for inflation and think about your taxes for the coming year....

money.usnews.com

Cola

Tips for using a 'medical IRA' that offers triple the tax savings

Dec 08 2023

More working Americans have a health savings account, but many are not using them to their fullest potential....

financial-planning.com

Ira

Unlocking the Hidden Retirement Goldmine…Tax Preparation vs. Tax Planning

Dec 05 2023

You want to pay less in taxes. But did you know that during retirement, you CAN control that? Retirement is when you have the most control over how much you pay. All it takes are some simple tax-plann...

bossretirement.com

Social Security Taxes vs. Benefits: Americans Take Far More Out Than They Pay In

Dec 03 2023

New Urban Institute report shows the average American will receive much more in benefits…...

401kspecialistmag.com

Converting your RRSP to a RRIF: What you need to know

Nov 30 2023

When planning for retirement, Canadians often turn to registered retirement savings plans (RRSP) as a tax-advantaged option to grow their money. After all, RRSPs are designed to help you accumulate re...

retirehappy.ca

Before December 31, Establish Your Two-Year Plan To Slash Taxes

Nov 30 2023

Major tax changes likely are on the way. It's time to plan now....

forbes.com

Santa Claus rally came early…will it last? 231129

Nov 30 2023

Episode 435: The Santa Claus rally is a seasonal phenomenon mostly driven by tax policy. Like New Year’s resolutions, it usually quickly fades…leading to the 2nd Quarter phenomenon known ...

wealthsteading.com

Understanding The Benefits Of Being Taxed As An S Corp

Nov 29 2023

Many of you are business owners, so you have probably heard about S Corps and the tax benefits that come from being an LLC taxed as an S Corp. However, you have only heard about half of the story, so ...

thomaskopelman.com

How to Cut Your Taxes Before Year-End - 457

Nov 29 2023

Last-minute tax questions answered: should Brad in Wahoo, NE save to his regular 401(k) instead of his Roth 401(k) so he can claim the American Opportunity Tax Credit? Should Jennifer and Zeke in NY s...

purefinancial.com

How to Save $100k+ in Taxes for Your Retirement With Mike Jesowshek

Nov 29 2023

Check out Jeremy’s latest podcast on retirement planning by listening on “Apple Podcasts” or “Spotify Podcasts” or read below for How to Save $100K+ in Taxes Over Your Li...

keilfp.com

It’s Time To Establish Your Two-Year Plan To Slash Taxes

Nov 28 2023

Major tax changes likely are on the way. It's time to plan now....

forbes.com

How do I find a tax advisor to guide me on IRA withdrawals and Roth conversions?

Nov 27 2023

I’m 65 and plan on retiring from full time employment in 26 months. I have a military pension, 900k in retirement savings (mostly in non-Roth, unfortunately), planning on drawing SS when I retir...

reddit.com

How Can Retirees Avoid the Tax Bomb in Their Portfolios? with David McClellan

Nov 22 2023

Check out Jeremy’s latest podcast on retirement planning by listening on “Apple Podcasts” or “Spotify Podcasts” or read below for How Can Retirees Avoid the Tax Bomb in T...

keilfp.com

What is it like to not have a boss and not have coworkers

Nov 21 2023

It's not my work that taxes me, it's the interactions and ups and downs of working in a 600 person office. My boss and grandboss are great people but there is still the expectations of work, the meeti...

reddit.com

Tax-Loss Harvesting Strategies to Maximize Your Benefit and Avoid Costly Mistakes

Nov 21 2023

Tax loss harvesting is a strategy that investors use to reduce their tax bill. However, there are many misconceptions about tax loss harvesting, including when it's valuable and how to do it ef...

buzzsprout.com

Mistakes

The Top 5 Financial Fears For the Next Generation of Retirees

Nov 20 2023

You may not realize it … The skyrocketing cost of healthcare. Continued inflation. Social security on life support. And the threat of higher taxes coming soon. Americans have a long list of con...

bossretirement.com

How much taxes do we budget for monthly retirement pensions?

Nov 19 2023

Both my husband and I will have pensions, in planning our budget for retirement how do I know how much to subtract for taxes? Between the two pensions our monthly gross pay will be roughly $8,300 -$8,...

reddit.com

New Mothers Who Get Back to Work Quickly Earn More

Nov 16 2023

Single mothers receive three-fourths of the tax refunds the IRS pays out every year through the Earned Income Tax Credit (EITC) for low-income workers. The EITC’s big plus is that it’s ful...

crr.bc.edu

Income

End of Year Tax Planning Moves Business Owners Can Make

Nov 15 2023

Last week I wrote about 21 end of year tax planning moves W2 income earners can make. So of course I have to follow that up with a similar post for business owners. Let’s walk through 23 impactf...

thomaskopelman.com

Cost of A/B pour over Trust ? Shocked at the quote

Nov 15 2023

Hello I moved from Texas where we had a estate plan done by professional board certified estate planning attorney. However now we are in a different state Oregon that has estate tax and so I went to o...

reddit.com