Taxes in Retirement
Bob Carlson of Retirement Watch on how to manage your taxes and planning strategies to pay less
Found 485 Articles.
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Don’t Forget About the Kiddie Tax
A key to maximizing a family’s after-tax investment income is to navigate the Kiddie Tax. Don’t make gifts of investment property to children or grandchildren without knowing the rules. The Kiddie Tax applies to unearned (investment) income of people under age 19 (or dependent, full-time students under age 24). The Kiddie Tax was enacted to […]
The Easiest Way to Increase Investment Returns: Cut Taxes
Investors, especially retired investors, need to know how taxes dilute their investment returns and the actions they can take to optimize investment taxes. Investors on average give up 2.14% of their investment returns to income taxes, according to a study by Russell Investments. But investors in tax-managed investments pay only 0.92% of their returns in […]
Which Is Better: Charitable Gift Annuity or Charitable Remainder Trust?
Charitable giving strategies can provide tax, estate planning, financial and other benefits. Maximize the benefits by selecting the strategy that’s best for you. The two main strategies to consider are the charitable gift annuity (CGA) and charitable remainder trust (CRT). Each strategy offers a legacy because part of your wealth will benefit one or more […]
How to Manage Capital Gains in 2024
The challenges for investors who hold assets in taxable accounts are greater in 2024 than in most years. They face difficult decisions about whether and when to sell the assets. Many investments delivered strong returns in recent years. But now those assets have higher risks. They’re selling at high valuations and have modest or no […]
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Exit Taxes and Other State Efforts to Tax Former or Departing Residents
Before moving from a state or establishing a second home, know how the state you currently reside in will react. States with net losses of residents are becoming more innovative and aggressive to capture tax revenue from their expatriates. The most recent innovation is the “exit tax” imposed on departing residents. A proposed wealth tax […]
What You Need to Know About Taxes and Gold Profits
Many investors will be surprised by taxes on their profits from gold’s bull market because of misunderstandings about how profits in gold are taxed. Gold is a collectible in the tax code, giving it less favorable treatment than most other investments. The first unfavorable treatment is that IRAs and other individually directed retirement accounts (both […]
15+ Tax Strategies That Will Survive the Election – No Matter Who Wins
It’s a presidential election year. Plus, all the House of Representatives and one-third of the Senate are up for election. That means changes to the tax law are being discussed, and many people are wondering how their tax bills and options for reducing taxes will change in the next few years. The tax law will […]
The Little-Known Stealth Tax That Bites Retirees and Near-Retirees
There’s a Stealth Tax that retirees and near-retirees often don’t know about until they inadvertently trigger it, costing them a lot of taxes that often could have been avoided or reduced. Many taxpayers who pay this Stealth Tax aren’t subject to it every year. Instead, a change in their finances activates the tax. Often, they […]
